Help My Limits Are Dropping

[Jolo0801]

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

[Red1Blue]

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

---

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

[Remedios]

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

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You cannot, or at least not right now.

You're being balance chased, so your best bet is to keep paying other cards as fast as you can before your other lenders jump on that bandwagon and start CLDs or closing cards.

Once your cards are paid down and you aren't struggling with utilization, you can ask for increases, but you will need to allow a few months for situation to normalize where they don't "feel" you're paying them off only to run them up again.  

Please, skip the "call and explain" because that's not how it works. 

"I didn't have the money before but now I do" isn't something lender wants to hear, it's obvious that's already their understanding of your situation based on CLDs.

It will be okay, just keep paying your debt, that's the only thing you control right now. 

[SouthJamaica]

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@Red1Blue wrote:

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

---

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

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+1 Agreed.  OP has nothing to lose.

[Jolo0801]

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@Red1Blue wrote:

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

---

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

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Do you know of this situation every being reversed after a call?

[SouthJamaica]

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@Jolo0801 wrote:

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@Red1Blue wrote:

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

---

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

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Do you know of this situation every being reversed after a call?

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I don't recall hearing of it with that specific lender but I have heard of many instances of CLD's being reversed after a phone call.

[Jolo0801]

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@SouthJamaica wrote:

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@Jolo0801 wrote:

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@Red1Blue wrote:

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@Jolo0801 wrote:

Help, I need advice.

For several months I have been carrying high credit usage on several cc's.

However, I always pay on time and more recently I have paid a few of them completely down. I no derogs at all.

Recently,

Macy's dropped my card from $8,000 to $3,200 and Discovery dropped me from $5,800 to $500. Both after I paid them completely to a 0 balance.

This is damaging my UTL futher and not helping my score.

How can I get them to raise my limits again.

---

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

---

Do you know of this situation every being reversed after a call?

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I don't recall hearing of it with that specific lender but I have heard of many instances of CLD's being reversed after a phone call.

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Thank You!!

[simplynoir]

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@SouthJamaica wrote:

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@Jolo0801 wrote:

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@Red1Blue wrote:

You can call them and ask them to restore your credit limits. Just explain your situation. They might do it.

---

Do you know of this situation every being reversed after a call?

---

I don't recall hearing of it with that specific lender but I have heard of many instances of CLD's being reversed after a phone call.

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I haven't heard of many CLD reversals due to balance chasing, more to do with non-use. As @Remedios pointed out this seems more to do with performing preventive measures to make sure a customer doesn't charge so much again. I do wonder how many cards have balances that are high with OP stating it's only been a few months, though since they stated they already paid a few of them down. My guess is the high utilization both with individual accounts and overall that scared the banks

[Remedios]

Reversals happens due to CLD for "Lack Of Use", which is the opposite from what's happening here

That's when we call and lie that we're going to use the card.

Good luck with that call if you make it, I hope drawing more attention to yourself doesn't end up becoming a closure. 

They just completed step one in risk mitigation, I hope you don't experience step two. 

[lgtwriter]

@Jolo0801  If the cards and credit limits in your myfico profile signature are mostly up to date, I notice that you have several cards with large(ish) credit limits (20k, 15k, etc) If those cards are close to being maxed out and your smaller limit cards are the ones you paid off, that might be why you are being balance chased. If your overall debt on the cards is more than the algorithms think is manageable for your income, that could trigger AA as well.

I think a call will draw attention that will not be positive attention and make you sound like you really need the limits. (which is not in your favor) Of course as with anything YMMV.