I've always wondered this, but it's not something I recall reading about on here. As we all know, income is a largely considered factor in CCCs determining your credit limits. Whatever your limit is was determined at least with the consideration of your reported income at the time. My question is for those that have reduced their reported income for whatever reason... has anyone seen a CLD from this? You figure it's fair game for a CCC to hit one with AA for income reduction. If anyone has experienced this, I'd be curious to hear which CCC it was, how much you dropped your reported income and how much the CLD was that followed. Also did the CLD happen right away, or did it take some time? Since total profiles are of course considered (in addition to just income) it would be good to know any other credit-related things you had going on at the time, such as where your utilization currently sat, if you had any negative items present on your report, maybe your FICO scores, etc.
Thanks for any feedback here!
I made a change from household to only my income back in August. It was a significant change, but I've seen nothing but increases since.
Reported utilization was, and still is under 8.9% aggregate, but individual has been up to 50% a few times. No negatives, FICOs between 740 and 760.
I do believe that my income alone supports the limits I had prior to making change
Thanks for your reply. When you say a significant change to income, would you be able quantify that? If not in dollars, how about just percentage of reduction?
That's good to hear that you didn't receive any AA and that you were in fact able to still see growth. Your credit scores being in the 740-760 range I'm sure help. I wonder if those with weaker profiles/scores see the possible negative effects of income reduction magnified. I'm looking forward to hearing from others on this topic.
Gotcha. I would agree with you that both before/after your income change that your income regardless likely supported your limits adequately.
I had access to 35K for repayment when I got my Disco approved with a $7500 SL March of last year. I updated in December to just my 18K when I asked for a CLI, figuring the answer would be no or a review, they gave me a $3K CLI to $10500.
I should note though that my DTI is low. Navy Federal has extended me $15,200 on the same income, so it isn’t really that surprising to me that Discover doesn’t seem to mind.
Cap hasn’t said anything about the update either and I have $8250 with them.