Someone Plz Explain CLD!!!

[pizza1]

hopefully it all gets worked out once you call. surely a big payment wouldnt trigger a CLD. and $600 really isn't that big of a payment, so Im at a loss here. please let us know, and good luck on the phone call.! What a pain to have to deal with

[toi34]

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@happypill wrote:

I'm wondering if you've changed your spending pattern recently.  Was the cruise you paid for significantly different from your normal spending pattern?

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Yes; I've never put that much at one time on that card, but look at the limit, it's not like I could go 'hog wild' anyway. LOL.....

[NRB525]

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@toi34 wrote:

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@happypill wrote:

I'm wondering if you've changed your spending pattern recently.  Was the cruise you paid for significantly different from your normal spending pattern?

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Yes; I've never put that much at one time on that card, but look at the limit, it's not like I could go 'hog wild' anyway. LOL.....

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I only saw the one charge on the Discover card. Is that a new charge for them?

Here's my estimation:

You've got a number of store cards carrying balances, sounds like it adds up to a high percentage. Thus, open, carried balances with only 2x (estimating here) minimum payments being made. On each card, if you are carrying a balance, the Minimum Required Payment and Actual Payment are displayed each month. That sets up one payment pattern. The CCC algorithms look at it and say... hmmmm... this cardholder is only making some small X the Minimum Payment. Watch closely for failure..."

You said your regular cards are all paid before statement cut? That  leads to no balance reported, no Minimum Payment reporting, and without that, no Actual Payment reports either (because you aren't carrying a balance) but it also does not report your balance. (nrb climbs up on soapbox...) IF you let the actual usage of each of those regular cards report natually on the credit report, the Open Amount shows, no Minimum payment shows, and No Payment shows, which communicates; There was no minimum payment, the amount was PIF off that statement, month after month for multiple cards. This sets up an entirely different payment pattern: PIF, no balances carried. Other CCC look at this and their algorithms say "Ah! Nice! This person PIF every month." But, alas, you didn't let the balances report, so, aw shucks, you didn't get credit for PIF all those months.

Then, out of the blue, you do one large (relatively) charge to the Discover card, and their algorithm begins to freak out "OMG! here comes the minimum payments! Secure the bank! CLD!" Your PIF just passed their algorithm in the night as it was on its way to CLD based on some new calculation of the CL they see fitting your style.

This is why I think it is a long term bad idea to have "all cards report zero but one": There's no history of handling a payment flow that the other CCC can read and get comfortable with. Combine that with carrying a bunch of high percentage balances at some low monthly payment rate and it's "Danger, Will Robinson!"

Good luck, hoping for the best with the call to find out what happened.

[Anonymous]

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@NRB525 wrote:

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@toi34 wrote:

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@happypill wrote:

I'm wondering if you've changed your spending pattern recently.  Was the cruise you paid for significantly different from your normal spending pattern?

---

Yes; I've never put that much at one time on that card, but look at the limit, it's not like I could go 'hog wild' anyway. LOL.....

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I only saw the one charge on the Discover card. Is that a new charge for them?

Here's my estimation:

You've got a number of store cards carrying balances, sounds like it adds up to a high percentage. Thus, open, carried balances with only 2x (estimating here) minimum payments being made. On each card, if you are carrying a balance, the Minimum Required Payment and Actual Payment are displayed each month. That sets up one payment pattern. The CCC algorithms look at it and say... hmmmm... this cardholder is only making some small X the Minimum Payment. Watch closely for failure..."

You said your regular cards are all paid before statement cut? That  leads to no balance reported, no Minimum Payment reporting, and without that, no Actual Payment reports either (because you aren't carrying a balance) but it also does not report your balance. (nrb climbs up on soapbox...) IF you let the actual usage of each of those regular cards report natually on the credit report, the Open Amount shows, no Minimum payment shows, and No Payment shows, which communicates; There was no minimum payment, the amount was PIF off that statement, month after month for multiple cards. This sets up an entirely different payment pattern: PIF, no balances carried. Other CCC look at this and their algorithms say "Ah! Nice! This person PIF every month." But, alas, you didn't let the balances report, so, aw shucks, you didn't get credit for PIF all those months.

Then, out of the blue, you do one large (relatively) charge to the Discover card, and their algorithm begins to freak out "OMG! here comes the minimum payments! Secure the bank! CLD!" Your PIF just passed their algorithm in the night as it was on its way to CLD based on some new calculation of the CL they see fitting your style.

This is why I think it is a long term bad idea to have "all cards report zero but one": There's no history of handling a payment flow that the other CCC can read and get comfortable with. Combine that with carrying a bunch of high percentage balances at some low monthly payment rate and it's "Danger, Will Robinson!"

Good luck, hoping for the best with the call to find out what happened.

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You just summed it up.

This is why I let larger balances report. And have still gotten nice approvals even with 60% utilization reporting on any one or two cards.

[Anonymous]

{Mod Cut. I think someone wants a vacation}

[pizza1]

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@Anonymous wrote:

{Edited}

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Did you even read the post? is a CLD, not a CLI..Im sure the OP doesnt want to be congratulated on a CLD. Ae you drunk, lol? Ive noticed a few of your posts tonight dont make sense at all..

[Anonymous]

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@Anonymous wrote:

{Edited}

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Why? For a CLD?

[Jerry45]

I was thinking the same thing, but are credit cards not to be used for big ticket items like Cruise Tickets?  It has to be something else.

[Jerry45]

NRB, thank you for the very informative post. I was planning on using my Chase card for a Overseas Plane ticket, and I do PIF my other cards to a 0 Balance. I hope I do not pull a trigger also

[Jerry45]

Wow, Nix. My whole strategy of keeping only one account with a balance, is starting to fly thru the window. Luckily I have no store cards, except for Sportsmans, which is a Visa.