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POW! Another Huntington CLD

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Moderator

Re: POW! Another Huntington CLD

It is my understanding that if subscribed and opted-in to electronic communications, this would constitute as a legal means of communication delivery.

However, with AA (specific to CLDs) there's no legal requirement for the lender to provide such notifications. I mean, as a "courtesy" sure, but it's already spelled out in the CCA which does spell out changes to CLs.
Message 11 of 22
Moderator

Re: POW! Another Huntington CLD


@FinStar wrote:
It is my understanding that if subscribed and opted-in to electronic communications, this would constitute as a legal means of communication delivery.

However, with AA (specific to CLDs) there's no legal requirement for the lender to provide such notifications. I mean, as a "courtesy" sure, but it's already spelled out in the CCA which does spell out changes to CLs.

They may say that but email has not been established as a "legal" form of notification/commuincation by Congress, there have been federal judges who have ruled that email is not a legal communique and others that have said that it is so its kind of in limbo at this point. If I were an exec at a bank I would be covering my rear and sending a letter through the mail.

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Message 12 of 22
Established Contributor

Re: POW! Another Huntington CLD

What are your approximate scores?

050719:     
010120:     

Message 13 of 22
Super Contributor

Re: POW! Another Huntington CLD

Whether you were notified via email or letter and whether that’s okay or not doesn’t really seem to be that important. The result would have been the same. They’re allowed to reduce your credit line, and even if they didn’t notify you correctly, it doesn’t change the result. I think since most terms say the bank reserves the right to change your limit at any time, there isn’t technically notice required anyway.
Message 14 of 22
Regular Contributor

Re: POW! Another Huntington CLD

OP they did the same to me. 2nd card in two weeks as well lol. Had a 20k limit and now down to 12K with a 10k balance due to BT. Going to have to transfer this balance out ASAP before hits my credit score. Huntington is going down the drain btw which explains the CLD’s across the board.
Message 15 of 22
Moderator

Re: POW! Another Huntington CLD


@atst2000 wrote:
OP they did the same to me. 2nd card in two weeks as well lol. Had a 20k limit and now down to 12K with a 10k balance due to BT. Going to have to transfer this balance out ASAP before hits my credit score. Huntington is going down the drain btw which explains the CLD’s across the board.

Except that their earning reports don't seem to be indicative of such a downward spiral.   Thus far, given the universe of current Huntington accountholders, thus far 3-4 individuals ontthese boards have reported their CLDs caused by known reasons, but not something that would be categorized across the board for everyone.   AA certainly happens, but it's not random, certain factors derived from an individual's profile contributed to it. 

Message 16 of 22
Super Contributor

Re: POW! Another Huntington CLD


@kdm31091 wrote:

Is there something in your profile that lenders wouldn't like?  There's no denying that things are definitely tightening up across the board, but this still doesn't happen randomly. There's something triggering reviews. I just don't want everyone to go into panic mode. It serves as a good reminder of everyone to be careful with credit seeking, balance carrying, etc, but I'm still wondering why you'd be targeted by two different banks in short succession.


The speculation made on those two is just that. The state specific response could be made something of maybe but i can also look at my end regarding those (2) lenders. Mulitple cards with each with minimum usage aside from rotating through each card periodically and/or the PIF i have had a routine of applying instead of long exposure of balances. That is until this year. I have for sake of usage on occasion opted to run not spend but BT with both from time to time. It's never before been any cause or concern on this end HOWEVER, policy decisions do change and it's likely that change played some part.

 

Good part is the HNB accounts are as always, very current, and the CLD is within reason. 5/3 on the other hand portrayed Barclay behavior by it's drastic pull back which prompted a good decision on this end simply to close them out.

Message 17 of 22
Super Contributor

Re: POW! Another Huntington CLD


@atst2000 wrote:
OP they did the same to me. 2nd card in two weeks as well lol. Had a 20k limit and now down to 12K with a 10k balance due to BT. Going to have to transfer this balance out ASAP before hits my credit score. Huntington is going down the drain btw which explains the CLD’s across the board.

Thanks for sharing your own experience. So seems they are indeed in a scale back mode at present.

 

To the reply question what are my current FICO Scores? 745 from 760 previous numbers but that drop was expected as i went on a mini spree that spent 4 INQ's and yielded (2) new solid accounts with reasonable SL's. Both 10K each.

 

What hurt was i just had also completed a fairly successful SP CLI run and both those banks CLD effectively wiped out those gains. Smiley Frustrated

Message 18 of 22
Contributor

Re: POW! Another Huntington CLD

I read in another forum about Huntington CLDing someone else. The letter they got said Huntington was doing a periodic review of accounts.

FICO 8 Scores 4/1/2018: 694 EX 714 EQ 740 TU FICO 8 Scores 6/16/2019 770 EX 798 EQ 791 TU

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Message 19 of 22
Valued Contributor

Re: POW! Another Huntington CLD

Unfortunate that this has happened but with the economic climate, the way things are going and in general the market - I was sadly expecting this to happen. Lenders are starting to tighten up the amount of credit that's given out. 



Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 20 of 22
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