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Huntington CLD

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Huntington CLD

I recently paid off a larg chunk of Credit Card debt to the tune of 25k which we incurred from our wedding last fall. Huntington never blinked an eye and I used a 0% BT promo they sent me to consolidate a few smaller balances and take advantage of 0%. My credit line was 18k on the card I did the BT to. This was back in november. Today, I recieved an email that they cut my line to 6000 with a balance of 5,000 after I made a 1,000 dollar payment. They didn't touch my other card that is at 18k and 0 balance. 

 

What gives? I'm not over 29% on any single card and under 7% for my total utilization across the board. My scores have gone from low 700's when I got the card to around 750. Worried this will tank my scores showing such a high utilization and now worried they are going to Balance chase me. 

 

Its confusing and makes no sense as my profile has improved with age since getting the card. They didn't blink at the 7k balance I had on the other card for 5 months and then paid it off to 0. I have limits in the mid 30's on several cards. 

 

Did this happen to anyone else? I'm just going to pay the card off next month and sock drawer it or close it. 

BK discharged 10/7/2014
Current Scores MyFico TU: 741 EQ: 751 EX: 668
Cards: NFCU CashRewards 25000 | NFCU Flagship 25000| Huntington Voice 18,000 |Huntington Voice 18,000 | Citi AA 33,000 |5/3rd 4,000 |BB&T 4500 | Cap1 V 33500 | Cap1 Sony 4500 | Alliant CU 15000 | TVA Employee CU 10,000 | WF Propel 15000 | Sync BananaR Visa 10,000 | DCU Visa 7,500 | Overstock 9800 | Sync Walmart MC 6,000 | Sync Lowes 25000 | Sync AE 7000 | Sync Amazon 10,000 | Sync Belk 10000 | NFCU CLOC 15,000 | Citi Costco 9,700 | First Bank 8000 | Bestbuy Visa 10,000 | HomeDepot 3500 | Macy's Store 11,300 |
Installments WF Mortgage $257k | Y-12 FCU HELOC 16,000 | Mercedes-Benz Lease | Alliant CU car loan

AAoA 3 yrs 7 M
TONS of Inquires :-p
Message 1 of 18
17 REPLIES 17
Established Contributor

Re: Huntington CLD

The biggest reason usually is holding a high balance and making minimum payments for an extended period of time.  Something in their creiteria must have flagged your account for a reduction.  It's not relative to your CR from the #'s you're providing.  

 

utilization may effect your scores short term but, as things are paid off the points come back just as quick as they left.  If you don't want the skewed numbers then move the balance elsewhere.

500K+ TCL / 800+ FCOs
Message 2 of 18
Moderator

Re: Huntington CLD

Lenders constantly evaluate their risk models and algorithms so there's a great possibility that certain factors may have caught their attention and AA was the culprit for the CLD.

It's simply a business decision that simply limits their exposure OP. Not to be taken personally.

5/3, FNBO, SunTrust and a plethora of other regional banks have similar risk policies just like their larger counterparts.

So, while it can be a temporary sting or annoyance, you can always get things situated with your profile and see whether a CLI is in order ~6 months from now. It is my understanding their CLIs are still SP.
Message 3 of 18
Moderator

Re: Huntington CLD

First time I have heard of a Huntington Bank CLD but all will do it if they dont like something they see. Huntington exclusively uses EQ so check and see if something has happened on that report.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 4 of 18
Established Contributor

Re: Huntington CLD

It's also important to rememer that economic times do change. What may be acceptable risk to a lender during the boom years of a business cycle may not fly when things look shaky. My personal sense is that in the past year or so, lenders have become more and more conservative in terms of their risk tolerance and more aggressive in their risk mitigation measures. I guess given how long this current phase of expansion has gone on and recent volatility in the markets, lenders want to make sure they get ahead of the contraction and aren't caught out by flip side of the potential downturn. 

Message 5 of 18
Super Contributor

Re: Huntington CLD


@cship10 wrote:

I recently paid off a larg chunk of Credit Card debt to the tune of 25k which we incurred from our wedding last fall. Huntington never blinked an eye and I used a 0% BT promo they sent me to consolidate a few smaller balances and take advantage of 0%. My credit line was 18k on the card I did the BT to. This was back in november. Today, I recieved an email that they cut my line to 6000 with a balance of 5,000 after I made a 1,000 dollar payment. They didn't touch my other card that is at 18k and 0 balance. 

 

What gives? I'm not over 29% on any single card and under 7% for my total utilization across the board. My scores have gone from low 700's when I got the card to around 750. Worried this will tank my scores showing such a high utilization and now worried they are going to Balance chase me. 

 

Its confusing and makes no sense as my profile has improved with age since getting the card. They didn't blink at the 7k balance I had on the other card for 5 months and then paid it off to 0. I have limits in the mid 30's on several cards. 

 

Did this happen to anyone else? I'm just going to pay the card off next month and sock drawer it or close it. 


To be honest, I've reread your post several times, and don't really understand what happened. Can you possibly rewrite this:

 

I recently paid off a larg chunk of Credit Card debt to the tune of 25k which we incurred from our wedding last fall. Huntington never blinked an eye and I used a 0% BT promo they sent me to consolidate a few smaller balances and take advantage of 0%. My credit line was 18k on the card I did the BT to. This was back in november. Today, I recieved an email that they cut my line to 6000 with a balance of 5,000 after I made a 1,000 dollar payment. They didn't touch my other card that is at 18k and 0 balance. 

 

I understand that you have 2 credit card accounts with Huntington, but I don't understand what you did or didn't do with them.

 

I understand that the bank balance chased you on one of the accounts and not the other, but I don't understand what had happened with the accounts before that.


7/31 FICO 8: EQ 751 TU 781 EX 748 Total revolving limits 713500 (592500 reporting)
Message 6 of 18
Moderator

Re: Huntington CLD

I'm assuming the $25K is related to a post (#48) that the OP made on 4/30 in the thread below:

https://ficoforums.myfico.com/t5/Credit-Card-Applications/BB-amp-T-pre-qualify/m-p/5594411
Message 7 of 18
Established Member

Re: Huntington CLD

Huntington did the same thing to me today on my Voice World Mastercard.  The credit line was reduced from $27,000 to $7,500.  They email stated the decrease was a result of a general review of all Huntington credit card lines.  I typically carry no balance on it. 

Message 8 of 18
Contributor

Re: Huntington CLD

Sorry if it was confusing. The card that is still at 18k was used monthly and carried a balance for around 11 months. My husband used it as I hardly ever used it and he charged it up to roughly 6-7k and we were making 1,000-2,000 dollar payments and charged back up to 6-7k every month (revolving balance usually stayed around 5-6k for reporting) until I completely paid it to 0 in April. The other card was not used much and I took advantage of a 0% offer they sent me in December and consolidated a few random balances to the card. I always paid between 300-400 a month on the card because I was in no rush to pay it off while taking advantage of the 0%.

I did see the other reply that this just happened to them today so it must be just happening in prep for what others said. I just thought it was strange they adjusted one credit line and not the one with a 0 balance.
BK discharged 10/7/2014
Current Scores MyFico TU: 741 EQ: 751 EX: 668
Cards: NFCU CashRewards 25000 | NFCU Flagship 25000| Huntington Voice 18,000 |Huntington Voice 18,000 | Citi AA 33,000 |5/3rd 4,000 |BB&T 4500 | Cap1 V 33500 | Cap1 Sony 4500 | Alliant CU 15000 | TVA Employee CU 10,000 | WF Propel 15000 | Sync BananaR Visa 10,000 | DCU Visa 7,500 | Overstock 9800 | Sync Walmart MC 6,000 | Sync Lowes 25000 | Sync AE 7000 | Sync Amazon 10,000 | Sync Belk 10000 | NFCU CLOC 15,000 | Citi Costco 9,700 | First Bank 8000 | Bestbuy Visa 10,000 | HomeDepot 3500 | Macy's Store 11,300 |
Installments WF Mortgage $257k | Y-12 FCU HELOC 16,000 | Mercedes-Benz Lease | Alliant CU car loan

AAoA 3 yrs 7 M
TONS of Inquires :-p
Message 9 of 18
Super Contributor

Re: Huntington CLD


@cship10 wrote:
Sorry if it was confusing. The card that is still at 18k was used monthly and carried a balance for around 11 months. My husband used it as I hardly ever used it and he charged it up to roughly 6-7k and we were making 1,000-2,000 dollar payments and charged back up to 6-7k every month (revolving balance usually stayed around 5-6k for reporting) until I completely paid it to 0 in April. The other card was not used much and I took advantage of a 0% offer they sent me in December and consolidated a few random balances to the card. I always paid between 300-400 a month on the card because I was in no rush to pay it off while taking advantage of the 0%.

I did see the other reply that this just happened to them today so it must be just happening in prep for what others said. I just thought it was strange they adjusted one credit line and not the one with a 0 balance.

OK thanks.

 

So the card that was used heavily, and carried revolving balances continually for 11 months is the one that is still intact.

 

While the other one, which was used very lightly for balance transfers, and has been paying no interest or swipe fees, is the one that got CLD'd.

 

It seems obvious to me. One account is profitable to them. On the other one you're not letting them make a buck. So they lowered the limit.

 

Makes perfect sense. It's not just about risk, it's also about profitability. Carrying large unused limits costs them money,  so why would they on an account that's not making them money?


7/31 FICO 8: EQ 751 TU 781 EX 748 Total revolving limits 713500 (592500 reporting)
Message 10 of 18
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