Truist : CLD after Balance Paid off?

[Wavester64]

I have been with Truist since the BB&T conversion days. They come out with BT offers here and there and I usually take advantage of them when I can (hard to do much, its my lowest SL card at $7500). I just paid off one of those BT offers from a year ago and recently they sent me another to use which I was going to do this week. However, I see that the site says "Available credit: $5,800.00". How can that be? I didn't get a notice of any CLD and everything with them and all my other cards has been smooth, no missed payments. The only thing I can think of is that card was paid off yesterday ($3400) and maybe the site needs to still update?

[pizzadude]

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@Wavester64 wrote:

I have been with Truist since the BBVA conversion days. They come out with BT offers here and there and I usually take advantage of them when I can (hard to do much, its my lowest SL card at $7500). I just paid off one of those BT offers from a year ago and recently they sent me another to use which I was going to do this week. However, I see that the site says "Available credit: $5,800.00". How can that be? I didn't get a notice of any CLD and everything with them and all my other cards has been smooth, no missed payments. The only thing I can think of is that card was paid off yesterday ($3400) and maybe the site needs to still update?

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Yeah I'd give it a few days or so to update, but did you also check your most recent statements ?   What does your available credit / credit limit look like there?

[Wavester64]

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@pizzadude wrote:

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@Wavester64 wrote:

I have been with Truist since the BBVA conversion days. They come out with BT offers here and there and I usually take advantage of them when I can (hard to do much, its my lowest SL card at $7500). I just paid off one of those BT offers from a year ago and recently they sent me another to use which I was going to do this week. However, I see that the site says "Available credit: $5,800.00". How can that be? I didn't get a notice of any CLD and everything with them and all my other cards has been smooth, no missed payments. The only thing I can think of is that card was paid off yesterday ($3400) and maybe the site needs to still update?

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Yeah I'd give it a few days or so to update, but did you also check your most recent statements ?   What does your available credit / credit limit look like there?

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Yes, forgot to mention that in my original post. Statement was Feb. 20th, and it said CL is/was $7500 like it has always been.

While on the topic, if you are correct and it does update in a few days - how does it work with Truist when it comes to CLI requests? Is it a HP or SP and if a SP can it be done online? I see mixed replies from MF and the replies are old.

[pizzadude]

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@Wavester64 wrote:

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Yes, forgot to mention that in my original post. Statement was Feb. 20th, and it said CL is/was $7500 like it has always been.

While on the topic, if you are correct and it does update in a few days - how does it work with Truist when it comes to CLI requests? Is it a HP or SP and if a SP can it be done online? I see mixed replies from MF and the replies are old.

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Not a lot of datapoints but in this older thread the OP mentioned calling in to request and they were HP'd as well.  

[youngandcreditwrthy]

@Wavester64  many banks will do this and its kind of a rookie mistake imo.

they're operating on algorithms and looking for any kind of outliers as a sign of risk.

firstly, my op is that there's a lag in avail credit because that would be considered a larger payment for a personal cc for most banks/people.

but in the event there's a CLD (which btw is REQURIED BY LAW for them to tell you WHY and WHEN; it seems many many people and banks have forgotten the required Adverse Action notices);

I would advise the following: when you get excited to pay down a card that's had a balance for a while and you've only been paying the minimum (which you should never do unless emergency or cashflow or earning interest somewhere else much higher than BT fees lol)

and of course, youve come into a "windfall" or whatever, however, you get the $ to make a larger payment(work bonus)

I suggest reflecting on your payment amounts over the last 6-12 months on the card - review your payment history yourself and gradually start making larger payments.... don't do it all at once, and I know "interest" but the truth is most banks are engaging in triple cycle billing where they take the average balance for the last 3 cycles and charge you interest on that. 

my point is, make smaller (but still larger payments gradually increase the payment amount 500 - 1000 - 1500 to avoid outlying payment amount history if that makes any sense because unless it's a time sensitive payment (like synchrony's deferred interest stuff which I pay like a few days before due to avoid 'deferred interest')

Also, some banks will re instate your CL, Barclay's was always good about that when I had their cards. They were sensitive like that and were always offering me BTs one I bought a car with lol and paid off in 9 months at like 2.9% I think? 

Also, it could just be time to get a new card, your score could be higher with less debt/utilization(AFTER the account updates the payment on your credit history but a CLD could lower it too). 

any time Im working with anything credit/risk related.. I think if I were the bank and Im seeing outlying behavior ( someone pays off all their debt who's been carrying balances for 12-18 months with increased utilization more than 30%), I might be keen to reduce the CL/exposure or close the account because its clear the one time large payment was a one time thing (rare to occur) and banks cant bet on windfalls to occur when it's extremely rare to have that happen for most folks. (like inheriting $, property, making a huge profit from a business)

definitely call them and ask to speak to an underwriter. or a credit analyst. get the CL re instated! or if its a hard pull, look for a new card and research because you can get just about any card these days with a soft pull. Wells fargo keeps trying to hard pull me to CLI my 7k one key card, and I'm like NOPE. not happening. 

[Vinjints]

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@youngandcreditwrthy wrote:

the truth is most banks are engaging in triple cycle billing where they take the average balance for the last 3 cycles and charge you interest on that. 

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Where do you see any bank doing this, much less most of them? I don't buy that this as the truth at all.

[Wavester64]

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@pizzadude wrote:

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@Wavester64 wrote:

I have been with Truist since the BBVA conversion days. They come out with BT offers here and there and I usually take advantage of them when I can (hard to do much, its my lowest SL card at $7500). I just paid off one of those BT offers from a year ago and recently they sent me another to use which I was going to do this week. However, I see that the site says "Available credit: $5,800.00". How can that be? I didn't get a notice of any CLD and everything with them and all my other cards has been smooth, no missed payments. The only thing I can think of is that card was paid off yesterday ($3400) and maybe the site needs to still update?

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Yeah I'd give it a few days or so to update, but did you also check your most recent statements ?   What does your available credit / credit limit look like there?

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I forgot to mention - you were right, the SL when back up to $7500 in a few days, less then a week.

[JamesS84]

Is that the total limit or just for balance transfers? Maybe the new offer is just contingent on less spending.

[Wavester64]

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@JamesS84 wrote:

Is that the total limit or just for balance transfers? Maybe the new offer is just contingent on less spending.

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Total Limit - one of lowest SL of all my cards.

[AndySoCal]

@youngandcreditwrthy  Your comment about going back more than one billing cycle is wrong. 

read the link below

https://www.banking.senate.gov/imo/media/doc/CARDACT09SECBYSEC.pdf