@racer-x wrote:I"ve a question about using cards after you've been given substantial CLD's.
To recap in the past 30 days:
Discover - 65% CLD to $4700
Chase CSP - 70% CLD to $4800
Chase Slate - 60% CLD to $1500
Chase Freedom - 60% CLD to $2200
- these accts have been PIF, $0 balance
and of course the good people at US Bank PLOC- 45% CLD, but crushed me with a 97.1% utilization, currently at 85% - just waiting to see if they balance chase me or not.
Overall utilization 18% btw. 1 paid small collection 4 yrs ago (not my fault, sorta). Squeaky clean everywhere else.
Question is, would you use the CLD'd cards and PIF like I did 95% of the 12-24 months that I've had the cards, in order to regain their trust, or stay pis sed and SD them?
I'm sure they're watching me closely.
Keep in mind i am a Scorpio - the strongest, meanest, grudge holding, stubbornest, most determined of all the Zodiac.
Sorry to hear about all the issues, RX. I had a number of large limit cards heading into the 2008-2009 credit crisis and associated change in CCC policies. All my cards, except CapOne, ended up getting CLD and balance chased as I paid down the high balances. Perfectly normal reaction on the banks part.
In one case, with BofA, while I was still paying balances down, I ran a few small charges through one of the two cards. They sent another pair of CLD letters a few weeks later, so if there are balances on the account, and there is AA/CLD in the recent past, my take is, they want to see the balance lower still.
BofA now sends me regular 0% APR BT offers, and I'm taking BT, paying those, making small new charges at the same time, and we are great friends again.
I would say that since you paid the cards to zero, you are OK with working them back into your spend rotation. You don't want to right away try to go 50% of current limit, but you can start showing new charge and PIF payment cycles to calm them down. This is a mandatory step on your part, kind of like getting back on a horse that bucked you off. If you did not start reusing the cards, it would be pointless to have the card, right? If you charge $10 at a restaurant on a card that was zero prior to the $10, and immediately get a CLD, you know where you stand with that lender, but I tend to think that won't happen.
Good luck!
I would just carry on business as usual and try not to max out any of the cards and show steady payment history. Nothing in the credit game or about the credit game is personal. They dont honestly care about whatever situation card members are in unfortunately , they are worried about themselves and the risk your CBR may or may not pose to them. I know Scorpios take EVERYTHING personal but really its not. Just recover to the best of your ability financially and move on. Good luck!
Ever heard the old saying about banks? "They give you an umbrella when it is sunny and take it away when it starts to rain."
@Anonymous wrote:
@racer-x wrote:You must have a Scorpio in the house. It's incredible how everything about that sign, fits me to a T. Kinda spooky.
Wow, astrology. I'm not a believer because us Aries are naturally skepitcal.
But anyway: looking at http://www.keen.com/articles/astrology/money-profiles-of-the-zodiac-signs. For Cancer:
The sign of the Crab is all about establishing financial security and providing for yourself and your family. You are willing to work hard, even at a job you don’t especially enjoy, in order to make a solid, reliable income. Yours is one of the most adept signs of the Zodiac when it comes to building up a nest egg (etc)
So, I plan to phone up my lenders and tell them I need CLIs, and don't worry, I am a Cancer.
Let's see!
Or, have a partner that can fill that astrological gap