My Home Depot credit card was cancelled and I'm worried about my other Citi cards!

[Stepane]

Hi All, 

I've had a Home Depot credit card that I don't think I've used for a few years. I received an email this morning telling me they cancelled it and I just assumed it was for inactivity. I went to their website and read my "document" and learned that they've determined I am too risky to continue the relationship!! I've had a similar amount of debt for some time, but my Fico recently dropped a bit, though the only thing I can think of that is different is that a car under my name was paid off. Now I'm worried about my Citi Double Cash Card and my Costco Anywhere Visa, oh yeah, and my Tractor Supply CC. I'd really like to keep those and am afraid that Citi might cut me off across the board, even though I know they've reviewed the accounts in the last 30 days and all seems to be fine. 

Does anybody have any experience with this?

Thanks

[arizonahd]

What is your score range and utilization if you don't mind me asking? That is kind of odd unless you had some derogatory remarks on your reports. 

[Stepane]

Nothing derogatory that I can think of, though my score did drop to 646. It stated that part of this was my utilization, but my utilization has been fairly steady, though I did use my Lowes credit card to buy a fridge, but then that was almost paid off the next month. I haven't missed a payment in years. Another reason cited was my number of inquiries, but I haven't really made any of those in a while either........that I can think of. 

[MugenCivicSi83]

This scares me immensely as I will be selling my car to pay off my loan when I move to Switzerland and I just acquired new credit... i hope to god they don't do this to me too! 

[Stepane]

I wouldn't be too scared. Paying off the car, or the temporary increase in utilization are the only things I can think of. The thing is, the temporary increase was easily two months ago at this point and the car payoff was last month. 

[pizza1]

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@Stepane wrote:

I wouldn't be too scared. Paying off the car, or the temporary increase in utilization are the only things I can think of. The thing is, the temporary increase was easily two months ago at this point and the car payoff was last month. 

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I would pull your actual reports just to make sure nothing else is happening. It could just be your paid car loan reporting paid/closed as well.  Is that your only installment loan reporting?  If yes...then Im not surprised with the drop in scores. If no, then im still surprsied. 

[Stepane]

I still have my Toyota installment loan going. I did pull Transunion today from annualcreditreport.com, but for some reason, failed on the other two and now I have to request them by mail ;(. I believe the credit reporting agency they cited was Equifax. 

[pizza1]

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@Stepane wrote:

I still have my Toyota installment loan going. I did pull Transunion today from annualcreditreport.com, but for some reason, failed on the other two and now I have to request them by mail ;(. I believe the credit reporting agency they cited was Equifax. 

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I would call EQ.  Look in the sticky thread under Backdoor numbers for CRA. Talk to a live person adn tell them it failed online for some reaosn, and request it thru them. 

Sorry for closure, but get your other reports as soon as you possibly can, and see if there's anything else reporting incorrectly. Keep us posted 

[Scupra]

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@Stepane wrote:

Nothing derogatory that I can think of, though my score did drop to 646. It stated that part of this was my utilization, but my utilization has been fairly steady, though I did use my Lowes credit card to buy a fridge, but then that was almost paid off the next month. I haven't missed a payment in years. Another reason cited was my number of inquiries, but I haven't really made any of those in a while either........that I can think of. 

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What is your utilization like? With no baddies and a score drop to 646 I can only assume it is high.. If you don't want to share, do you think it's high enough to spook Citi?

[Stepane]

Thanks you guys so much for getting back to me! I'm going to try to contact the credit reporting companies to try to get the reports over the phone. 

I'm honestly not sure about the utilization. Some I use the heck out of and many I don't touch. There are some that are within like $1,000 of the $7,000 limit. I'm also very stupid in that I let somebody use my Walmart card and that's pretty close to limit. I've revoked the card. They pay the bill, but I know I'll have to help dig out of that. It's definitely possible Citi would have become spooked by utilization, though honestly, it's been like this for a few months. I just don't want to lose my beloved Costco Visa, so I know I've got to do everything I can to get this under control.