Strange $50 CLD Ulta/Comenity

[TattnallTrio]

I saw a notification on Credit Karma that my credit line decreased from $300 to $250 on my Ulta store card. I’ve had it open for over a year now, it started at $300 and has been there every since. I have many other Comenity Cards as well.
Overstock $1,850
Wayfair $2,350
Big Lots $750
Zales $1,750
Meijer $500

Every few months I spend more than $200 and typically pay the balance in full.
What sense does it make to reduce my credit line by $50.00?

I’m not past due on anything, only one inquiry in the last 6 months, no collections or accounts newer than 6 months, Credit Utilization is close to 40%. I have a $2,500 credit union card maxed out but everything else is reasonable. I checked my other Comenity cards and their credit lines are the same.
Is Ulta having hard times like other retailers? Is Comenity going to reduce my other limits? It would make sense for them to cut down or close Wayfair and Overstock since I haven’t used them in almost a year. But the cards I use are Ulta, Meijer and Big Lots. I owe Meijer about $100 and Big Lots is paid off.

I haven’t received a letter in the mail about this, I’m not sure if they’ll send one.

[disney2]

Ulta is notorious for that.  There are several of us that live near each other and the joke is to see what your limit is that day before going in the store.  Mine has been up and down so many times.  I think the highest has been 1250 and the last time I looked it was 480.  They're strange.

[Queen_Etherea]

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@disney2 wrote:

Ulta is notorious for that.  There are several of us that live near each other and the joke is to see what your limit is that day before going in the store.  Mine has been up and down so many times.  I think the highest has been 1250 and the last time I looked it was 480.  They're strange.

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Well that's disappointing! I just got a CLI on my Ulta card yesterday from $1,150 to $1,750. I really hope they don't drop it! I mean, I spend enough money to justify a much higher limit, but whatever. I think I started at $750?

[TattnallTrio]

That’s good to know that it’s not just me. I have just the store version but I doubt they’ll upgrade me if they are cutting my credit line. My scores are in the upper 600’s.

[CreditInspired]

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@TattnallTrio wrote:
I saw a notification on Credit Karma that my credit line decreased from $300 to $250 on my Ulta store card. I’ve had it open for over a year now, it started at $300 and has been there every since. I have many other Comenity Cards as well.
Overstock $1,850
Wayfair $2,350
Big Lots $750
Zales $1,750
Meijer $500

Every few months I spend more than $200 and typically pay the balance in full.
What sense does it make to reduce my credit line by $50.00?

I’m not past due on anything, only one inquiry in the last 6 months, no collections or accounts newer than 6 months, Credit Utilization is close to 40%. I have a $2,500 credit union card maxed out but everything else is reasonable. I checked my other Comenity cards and their credit lines are the same.
Is Ulta having hard times like other retailers? Is Comenity going to reduce my other limits? It would make sense for them to cut down or close Wayfair and Overstock since I haven’t used them in almost a year. But the cards I use are Ulta, Meijer and Big Lots. I owe Meijer about $100 and Big Lots is paid off.

I haven’t received a letter in the mail about this, I’m not sure if they’ll send one.

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Bingo.

IMHO, I think you should be on the lookout for more AA due to your high UT. I suggest trying to get it below 28.9%.

[TattnallTrio]

I got the letter in the mail. It says:
“We’re Comenity Capital Bank and we handle everything related to your Ultamate Rewards credit card account.
After a recent review, we’re now writing to let you know your credit limit is being reduced to $250. This is happening due to a significant decrease in your credit score from your credit bureau.

Then on the back it says Equifax 562.