Max it out? SD?

[takeshi74]

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@tcbofade wrote:

No late payments, more than the minimum every month...sent a secured message this morning and haven't heard back yet.

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Minimums do not matter.  Utilization does.  What was utilization like leading up the CLD?

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@tcbofade wrote:

Two or three might be just over 50%

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That is high.  30% is the general recommendation for maximum.  How long have they been there?

[john398]

Please keep us updated, hopefully chase will reconcider

[tcbofade]

Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt.  She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.

[gdale6]

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@tcbofade wrote:

Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt.  She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.

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Grats on the restoration. If you are borderline as Chase evidently sees her, an instalment loan or rehab second mortgage for some of those repairs maybe in order or you may find more of this from other creditors.

[tcbofade]

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@gdale6 wrote:

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@tcbofade wrote:

Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt.  She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.

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Grats on the restoration. If you are borderline as Chase evidently sees her, an instalment loan or rehab second mortgage for some of those repairs maybe in order or you may find more of this from other creditors.

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Can't pull a second mortgage until AFTER 29 November.  Wouldn't be worth anything to refinance the 1st until AFTER 29 November.  (under 12 months, they'll use the same appraisal...)

[SunriseEarth]

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@tcbofade wrote:

OK, so Chase CLD'd DW.

She called them this morning and they DID restore her original credit line.  $7,500.

She has about $3,500 on it and we WERE planning to use another $2 or $3k on it to buy groceries for the next few months.

NOW we don't trust it.

We've still got the ability to BT TO the Slate from other cards, and are debating transferring 3K or so MORE on to the card while it's still at a zero percent interest rate and free up available credit on other accounts...that she's had for years and have NEVER lowered her credit line.

Are we cutting off our nose to spite our face?

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I wouldn't chance it.  Quit using it and pay it off.  Clearly they grew nervous about something they're seeing. 

[Uppingmyscore]

Glad they reinstated the CL.  This is just me....I would concentrate on reducing my debt and use cash only.  That's how I would handle it if it was me.  

[myjourney]

Glad the account was restored ...

Question I see your expecting to go higher in UTL? If it's not to personal and I understand if it is....

Is this due to new renovations you have planned?

[adavis425]

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@Uppingmyscore wrote:

Glad they reinstated the CL.  This is just me....I would concentrate on reducing my debt and use cash only.  That's how I would handle it if it was me.  

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Me too...

[tcbofade]

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@myjourney wrote:

Glad the account was restored ...

Question I see your expecting to go higher in UTL? If it's not to personal and I understand if it is....

Is this due to new renovations you have planned?

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Not too personal at all, that's why I asked...

We THINK that we've already spent most of the dollars that we'll need to for rehabbing the house...but time will tell.

so um....  yes.