My Available Credit Needs to Shed Some Weight!!

[FinStar]

I'm going to give it some though to present a decent strategy... In the midst of a bit of traveling here but I'll see what we can do to make you a CU Superstar!

[baller4life]

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@FinStar wrote:
Not necessarily. Reduced exposure is not the trigger for AA. If baller had a ton of utilization across the board or making minimum payments on her tradelines then I could see that maybe being the case.

There's hardly any anecdotal information that supports your claim. I've reduced tradelines and closed in excess of $50K in a brief period. No AA.

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So you actually called and requested reductions? Wow!

[FinStar]

Howffrequently do you use Amazon and Lowe's, other than lovely pry bars, since those CLs are decent. What's your balance on Sallie Mae?

[Anonymous]

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@FinStar wrote:
I'm going to give it some though to present a decent strategy... In the midst of a bit of traveling here but I'll see what we can do to make you a CU Superstar!

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Now that's a plan!

[kdm31091]

Finstar, I think you misunderstood. I didnt say lowering limits would cause AA. I said it could make it appear AA was happening, which isnt good. Beyond that a 1k limit card is a PITA for utilization reporting and such.

I just dont know why overall this forum is so biased against closing cards. If something has outlasted its usefulness or you just want to reduce your load, close it and move on. I promise you none of our lenders are agonizing over it!

[baller4life]

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@FinStar wrote:
I'm going to give it some though to present a decent strategy... In the midst of a bit of traveling here but I'll see what we can do to make you a CU Superstar!

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I love that idea!!

[baller4life]

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@FinStar wrote:
Howffrequently do you use Amazon and Lowe's, other than lovely pry bars, since those CLs are decent. What's your balance on Sallie Mae?

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Hardly ever use them. Amazon was a rebuilder card and Lowes more of an util padder. $0 balance on Sallie Mae.

[FinStar]

Ok so there was a misunderstanding. But, you're right, if baller was to keep... say for instance Lowe's, I would not CLD to $1K since that provides nothing useful and if it's not being used, it might as well be close. But eeven if the scenario was played out where two or three tradelines were reduced to a moderate CL it still wouldn't be grounds for AA.

But, given she's got roughly $250K, I wouldn't retire the intended tradelines all at once.

[baller4life]

No I wasn't going to close all at once. Over time. I'm sure I'll be right back up to a quarter mill once I add NASA and Penfed. But who cares at that point? LOL.

[FinStar]

So, I guess we can start with sweet sweet Sallie Mae!

Small steps so as not to draw much attention Issuppose... You want to work with the smallest to the largest. Will you miss it baller?