@Remedios wrote:
@trvlscmmr wrote:
@Remedios wrote:
What's the utilization on that card right now?
You said you paid it below 89% but in lenders eyes, that's still maxed out.
I'm asking because if the balance doesn't drop fast enough, this process has a very good chance of repeating itself
It's comfortably under 89.9% now, in my experiences having an account report over 89.9% often results in adverse actions from lenders. Yes being under 69.9% is far better just like being under 49.9% is an even better situation.
Thanks I'm not overly worried about what Synchrony does now. I'm still going to utilize this balance transfer & make payments as I normally would. If Synchrony pulls out the rug out from under me I am confident I can get back in with them somewhere down the road. I will keep the board updated if Synchrony takes further action
I was not talking about Synchrony.
You're kinda wrong about the part where you think 90% utilization will cause AA, but something like 80% utilization will not.
It's not about synchrony, it's about your other lenders who might get twitchy when your report shows still maxed card and a different closed account. While it doesn't say on your report that card was closed due to AA, that's an easy conclusion for a decent algorithm.
Even Citi (your maxed card) might determine it's getting too risky without significant payments being made every month and balance on all accounts showing steady decrease.
Some profiles can get away with "taking advantage of whatever", some cannot, especially those showing score decline, credit seeking, negatives, high utilization, and/or all of the above. AA tends to cascade when one hits all the right notes.
You don't seem worried, so that's good. I hope things workout the way you think they will.
I'm not sure what closed account you are referring to? Nothing has been closed. They just CLD'd me to $100 limit haha.
I've got a decent grasp on the kind of balances my profile can run without sounding their alarms. Just made a somewhat costly mistake here, **bleep** happens. Yeah reporting over 69.9% is not an ideal situation & still looks highly risky on some profiles I understand. I have plenty of posts about AA I've encountered over the years. I once had $80k wiped out in a day by a lender & then Synch, HSBC, & Barclays immediately CLD'd me.
I know what my credit profile is going to look like next cycle of reporting. I've already explained all these factors in the original & susbsequent posts. My score will be back up over 700 as soon as that 93% falls off in 6 days. I monitor my score almost daily so that's why I am confident this is not all that bad.
Also worth noting I have zero negatives on my files.
Also Citi is still sending me BT offers on my 2 other accounts. I made a $700 payment to them just a few weeks ago as soon as I realized it reported at 93%.
