Need Help! Recovering from CLD & Balance Chasing

[MmmarkAz]

How Long Does it Take to Bounce Back from CLD's?

I Maxed Out My Cards Last Summer & Fall, While I was Building a House and Used My Cash & Cards for Materials and Living Expenses, about 29k in TCL's, (at that time)

Then in Dec. I Took Out a 1st Mortgage and Paid them ALL  Off and Scores Went Way Back Up!

But, Lowe's is Still at $100. That's Right, $100. Started at 12k Jan 2020, then Decreased to $7700. In August, then After Paying them Off in Dec. Again Decreased to $100. 

Same Thing With Discover,

SL 2500. Then Down to 1k,

Then Down to $500.

I've Tried CLI's on Lowe's Every Month with No Luck.. Did Just Get a $500. CLI on Discover, Recently After 5 Tries..

Am I On Some Kind of Time Out or Something? Lol

I Did Learn My Lesson, I'll Never Do that Again, That's Why I've Been Getting New Cards and Building My TCL'S Up, This Year!

Anyone with Info or Experience Would Be a Great Help, Thanks!

[FinStar]

Hard to say when SYNCB will be able to re-grow. What are the SYNCB letters stating for the denial?  Keep in mind that they're using VS4 and the trended internal data is probably not looking favorable yet.

Discover will be a while, a long while.  On the upside, it appears they've nudged it up a bit so that's a plus.

Aside of your recent BMO approvals, what other recent new accounts have you added in the past 6 months?

[MmmarkAz]

@FinStar 

Yes, I've Been Rebuilding Since Oct. 2017, I Remember Someone Here had Their Lowe's SYNCB Limit Reduced to 1k from 35k, for of Lack of Use, Then They Sock Drawed It and Slowly Came Back to 25k forgot How Long it Took.

I Called them and sent Letters in 7-10 days, Saying High Usage on Other Cards etc. But it Happened After I Made Large Payments,

No Lates Ever, Minimums for 4-5 months though.. VS4 I Haven't Kept Track Of, I will now.. it's Like there 6 months Behind or ?

The Weird thing is in Jan. I Called Home Depot and Got a CLI from 8k to 25k and that same Day Lowe's Lowered it to $100. Coincidence? I don't know, But Really Happy with HD.

Cards in Last 6 mos.-

Amex

Hilton Honors, BCP,

PenFed 

FNBO

Amex Lowe's Biz

Lowe's 4 Pros Biz

BMO Harris Biz

BMO Harris Cash Back

US Bank Business Cash

AND 1 Pending Now- 

US Bank Altitude Connect

I'm Starting another Home Now and Just Wanted to Get Total 

Credit Lines Up So I Don't Go Above 30% Utilization this Time,

I'm Almost Up to 100k 

I Didn't Realize Last Summer How Bad Making Mins. & Maxing Out Is Not Good.. I Appreciate You and Others for All the Knowledge and Help! Got a Brand New RV Last Year, "0"Down. I Went to The Dealership Every Sunday and Peaked in the Windows for 2 years and Worked on my Credit and Read These Forums, til I got above 720's "this Year I Got a New Car 0" Down, First Time for Both.. I'm Gardening While I'm Building for the Next 6-8mos.

Thanks Again for All Your Great Facts and Info!

[designated_knitter]

---

@FinStar wrote:

Hard to say when SYNCB will be able to re-grow. What are the SYNCB letters stating for the denial?  Keep in mind that they're using VS4 and the trended internal data is probably not looking favorable yet.

Discover will be a while, a long while.  On the upside, it appears they've nudged it up a bit so that's a plus.

Aside of your recent BMO approvals, what other recent new accounts have you added in the past 6 months?

---

I feel your pain in terms of Synchrony CLD.  I had a Sam's Club cc that they CLD'd from 600 to 230 about 5 years ago.  I got my credit scores back up to a respectable level, was approved for several other Synchrony cards with 2000 and 3000 limits but couldn't even get another buck on Sam's.  Even though it was my oldest card, I gave up and closed it this spring.

I'm half tempted to see if they would approve me at this point with a comparable limit to my other cards but frankly, I don't shop at Walmart or Sam's so not worth the hard pull.

[MmmarkAz]

To@designated_knitter Yeah,

That's Too Bad about your Sam's Club Card, I Read Alot about SYNCB here and all the CLD's

You kinda made up for it with the other Higher Limit Cards,

That's What I've Been Doing with My New Cards, Problem Is I Like Lowe's, and Wish they Would Just Give Me 25k Like Home Depot and I Can Build the Whole House Between them Both!

I didn't do anything wrong, just paid ALL My Bills on Time!

I Hope We Do Get another Buck from Them, I Couldn't Imagine being Stuck at $100. for Ever

Lol Good Luck with Your Rebuild

& Thanks Again

[designated_knitter]

---

@MmmarkAz wrote:

To@designated_knitter Yeah,

That's Too Bad about your Sam's Club Card, I Read Alot about SYNCB here and all the CLD's

You kinda made up for it with the other Higher Limit Cards,

That's What I've Been Doing with My New Cards, Problem Is I Like Lowe's, and Wish they Would Just Give Me 25k Like Home Depot and I Can Build the Whole House Between them Both!

I didn't do anything wrong, just paid ALL My Bills on Time!

I Hope We Do Get another Buck from Them, I Couldn't Imagine being Stuck at $100. for Ever

Lol Good Luck with Your Rebuild

& Thanks Again

---

Thanks! You are right... Lowe's is waaaaaay better than Sam's Club and I would have been waaaay more upset at losing that trade line.  You can't even buy a decent cordless drill for 100 bucks!

I don't know if you have a menards in your area, but I always like them, even though the card is backed by Capital One so you don't see the kind of limits you see with HD or Lowe's.

[MmmarkAz]

@designated_knitter 

It's funny you Mention Menards, I Looked them up Lately, We Don't Have them, but I've Been in One Traveling, NICE Store, I Was Thinking about Getting their Credit Card, Driving Out Loading Up, Getting out of this Heat, Supposed to Be 122° this week, But Lumber is High Everywhere.. Lol

[FinStar]

---

@MmmarkAz wrote:

@FinStar 

Yes, I've Been Rebuilding Since Oct. 2017, I Remember Someone Here had Their Lowe's SYNCB Limit Reduced to 1k from 35k, for of Lack of Use, Then They Sock Drawed It and Slowly Came Back to 25k forgot How Long it Took.

I Called them and sent Letters in 7-10 days, Saying High Usage on Other Cards etc. But it Happened After I Made Large Payments,

No Lates Ever, Minimums for 4-5 months though.. VS4 I Haven't Kept Track Of, I will now.. it's Like there 6 months Behind or ?

The Weird thing is in Jan. I Called Home Depot and Got a CLI from 8k to 25k and that same Day Lowe's Lowered it to $100. Coincidence? I don't know, But Really Happy with HD.

Cards in Last 6 mos.-

Amex, Hilton Honors, BCP, PenFed, FNBO

Amex Lowe's Biz

Lowe's 4 Pros Biz

BMO Harris Biz

BMO Harris Cash Back

US Bank Business Cash

AND 1 Pending Now- 

US Bank Altitude Connect

I'm Starting another Home Now and Just Wanted to Get Total 

Credit Lines Up So I Don't Go Above 30% Utilization this Time,

I'm Almost Up to 100k 

I Didn't Realize Last Summer How Bad Making Mins. & Maxing Out Is Not Good.. I Appreciate You and Others for All the Knowledge and Help! Got a Brand New RV Last Year, "0"Down. I Went to The Dealership Every Sunday and Peaked in the Windows for 2 years and Worked on my Credit and Read These Forums, til I got above 720's "this Year I Got a New Car 0" Down, First Time for Both.. I'm Gardening While I'm Building for the Next 6-8mos.

Thanks Again for All Your Great Facts and Info!

---

The key to keep in mind with your Adverse Action (balance chasing) vs the one you mentioned for the other member, yours is categorized as more severe due to the potential high risk of default given your balances were overextended.  This would apply to Discover as well.  Lowering a limit because of inactivity is really a non-event (in most cases) since most individuals are able to reinstate it in a relatively short time.  So, two different things.

The CLD with Lowe's and the Home Depot CLI is coincidental at best since there's no way Lowe's (SYNCB) was aware of your HD CLI -- it would take a few weeks to report.

VS4 trended data is not "behind" per se.  It's a 'look back' period of credit history behavior for the past year or so on a rolling basis.  Potentially, SYNCB is still internally evaluating 6-12 months of your past history to make future assessments on your account.  I'd say try in about 4-5 months to see if you're out of the woods yet.  Keep in mind, though, it's possible your recent new accounts will be taken into consideration on whether SYNCB will play or not.

[MmmarkAz]

@FinStar Yes, that Adverse Action was Serious, Right in the Middle of Rebuilding, I Definitely Won't Do That again.. I'll Work on the Discover and Lowe's in the Next 6-12mos. 

You're Right Probably a Coincidence on the Lowe's CLD

& Home Depot Increase..

I Just Really Want Lowe's to be 25k the Same As Home Depot,

So I Can Build and Split the Cost.

Instead of All these Oddball #'s

Ok, I Will Try in 4-6mos. And Get Past the Look Back Period & New Accounts will Age a Little.

Thanks Again!

[SouthJamaica]

---

@MmmarkAz wrote:

How Long Does it Take to Bounce Back from CLD's?

I Maxed Out My Cards Last Summer & Fall, While I was Building a House and Used My Cash & Cards for Materials and Living Expenses, about 29k in TCL's, (at that time)

Then in Dec. I Took Out a 1st Mortgage and Paid them ALL  Off and Scores Went Way Back Up!

But, Lowe's is Still at $100. That's Right, $100. Started at 12k Jan 2020, then Decreased to $7700. In August, then After Paying them Off in Dec. Again Decreased to $100. 

Same Thing With Discover,

SL 2500. Then Down to 1k,

Then Down to $500.

I've Tried CLI's on Lowe's Every Month with No Luck.. Did Just Get a $500. CLI on Discover, Recently After 5 Tries..

Am I On Some Kind of Time Out or Something? Lol

I Did Learn My Lesson, I'll Never Do that Again, That's Why I've Been Getting New Cards and Building My TCL'S Up, This Year!

Anyone with Info or Experience Would Be a Great Help, Thanks!

---

What I would do is

(a) apply for soft pull CLI's from time to time, and

(b) avoid any other applications for credit.