Has anyone else ever requested CLD???

[kdm31091]

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@Anonymous wrote:

I don't recommend for people to voluntarily request CLD, especially on multiple accounts. When another lender looks at your reports, they don't know that you voluntarily CLD'd an account - what they see is that another lender dropped your limit. This probably doesn't make them feel too great, and they may get concerned and do the same.

Other alternatives to CLD'ing an account including putting the brakes on CLI's, consolidating or combining accounts, moving credit lines between different accounts, or looking carefully and if some of your accounts duplicate benefits or rewards, closing an account entirely.

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Moving credit limits is still going to result in one card being "CLD" on your report while the other is increased.

Yes, on a manual review, lots of lowered limits may cause a problem, but I doubt these things are noticed as much as we may think by the computer. For as much as people chase after unneeded CLIs, and open new cards every month, etc, I think the risk from a voluntary CLD is probably smaller.  Several new accounts in a short period hitting one's report doesn't look so hot either. I just don't think people should drive themselves crazy over every decision they make with their cards. If AA occurs, it occurs. Deal with it at the time. Worrying about things that may have a small chance of triggering it isn't really productive IMO.

At the end of the day, one has to do what they feel is best, and if a CLD makes them more comfortable, that's what they need to do.

[Anonymous]

Not to mention the reports don't say what your limit was prior so there's no way they'd know your limits went down. As long as it doesn't affect your usage percentage it's fine.

the only time it shows your limit history is if you're pulling up the report for disputing and it contains your SP report (a very detailed report) but most of what lenders see on your report is basically what you see on credit karma or your experian app or whatever. It's basic crap. 

[Anonymous]

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@Anonymous wrote:

Not to mention the reports don't say what your limit was prior so there's no way they'd know your limits went down. As long as it doesn't affect your usage percentage it's fine.

the only time it shows your limit history is if you're pulling up the report for disputing and it contains your SP report (a very detailed report) but most of what lenders see on your report is basically what you see on credit karma or your experian app or whatever. It's basic crap. 

@humuhumunukunukuapua'a wrote:

Actually one of the CRA's does show limit history - I believe it is TU, but would have to look. I've seen a detailed limit history by month on my reports. (i.e., from 3/2104 to 6/2014, limit was x, from 6/2014 to 10/2014, limit was y, etc). Just wanted to share.

[Anonymous]

^ that's what I am talking about though. Those are more detailed reports than most lenders see.

[sarge12]

Some of the reasons I limit each card to 10K is because if an Identity thief were to fraudulantly charge it to the max, The high charges would have less effect on utilization. I know it would be straitened out and I would not be responsible, but until investigation was completed it would still affect my fico scores. Keeping them at this threshhold also keeps my over all credit exposure lower which increases my odds of recieving new cards with maybe 200 dollar bonus and 1.5% rewards. Current credit exposure is about 80000 dollars.on credit cards.

[Anonymous]

YOUR credit profile is as unique as your own garden, only you can decide how BIG you want the tomatoes even if want rose bushes lining the back wall.

Once you've got yourself above a builder/rebuilder stage....

The decision how you maintain YOUR profile is totally up to you.

Ppl with 'helpful' opinions, myself included, are more useful to a profile GROWER vs somebody just trying to keep the weeds OUT of a fa he/she is happy with.

And YES, I can see where a limit can get to the point where one could say 'No thanks ' ....now for me that ain't gonna be $12,500

However we all have different tolerance levels, as we should.
Ex: I run a business so having $1000's of dollars on a CC doesn't phase me cause I'm comfortable paying it.
Same as a Real Estate agent waiting for the closing to pay off the bill...no biggie.

Now a W-2 person with the same paycheck every 14 days, 26 times a year... MUST approach things differently because there is no BIG piece of change coming.

So again, I can see why the sheer numbers can be uncomfortable, the same way I don't want to juggle 20-25 open CC's...just because.

Once your profile is at the point where you know you'll be approved for most things you'll apply for....
Your thought process can be different.

With enough data/history a profile in the mid to high 700's is gonna get the best rates available, so chasing 825-850 is wasted energy that could be used LIVING!

[sarge12]

My cards and limits and bal......AMEX blue cash everyday card cl  10000   bal 0

                                                   Chase freedom unlimited sig visa  10000   bal 0

                                                    TD Cash rewards visa sig             10000   bal 0

                                                   Capital One QS1 visa sig               10000   bal 0

                                                   Vital FCU platinum visa                  10000   bal 1897.53   this card is 6.9% int and used by my sister...paid by her also, but card is in my name

                                                    MTC FCU platinum visa                  8000   bal 0

                                                    Barclaycard cash fwd world MC     7500    bal 0

                                                     Amazon.com rewards visa sig       6000   bal 0

                                                     Discover it                                      5750   bal 0

                                                      Citi Costco visa sig                        5500   bal 0

                                                      Citi double cash                             4000   bal 0

                                                       Also have MTCFCU overdraft       8000   bal 0

[Anonymous]

A long time ago I did it was a Walmart card and then I learned you could have multiple accounts, so that would have been the better idea. Definitely it's a proactive move if you have been denied for too much available credit and a new flavor of the month with the same bank comes around.