Upgrade Card - huge credit line decrease

[Baywatch]

I just got an email from Upgrade that my LOC was reduced from 10k to $500 due to the following (they cite Trans Union):

• Usage of revolving accounts is too high
• Recent increase in usage of accounts
• Recent increase in utilization of bank-issued credit cards
• High number of accounts recently opened

None of that seemed familiar to me, so I pulled my Trans Union report, and my utilization has gone down, not up.
TU Fico 8 is 735, and utilization is listed as 29%, which is higher than it actually is but whatever.

I was in the hospital briefly last month, so all my cards only got the default auto-payment, which may have briefly moved the dial on my utilization and score, but as soon as I got home I paid them off as I typically do each month.
A $500 limit serves me absolutely no utility.

I have never actually used the card, but I did have a loan from them last year for $17.5k, which I paid off in 2 months.

This card seems to have no phone number to call, what should I do, just say 'screw it', since I never used the and it's not reporting to any of the Credit Bureaus that I can notice?

It just feels pretty **bleep**ty to have them decrease my credit line so drastically. Even without this card, I still have a total line of credit of about $80k across all my other cards - should I care about the decrease here, should I try to ask them **bleep**?

[TheRedHat]

Are you or were you aware that the Upgrade Card isn't an actual credit card?

[Baywatch]

I know the structure is a bit different, but I guess it seemed good to have for a rainy day.

Are there any significant disadvantages to this card?

[CCrew]

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@Baywatch wrote:

I know the structure is a bit different, but I guess it seemed good to have for a rainy day.

Are there any significant disadvantages to this card?

---

It reports as a personal line of credit rather than as a revolver so shouldn't factor into util, so it's basically noise. Couple of posts down you'll see they did me too, with a 761 FICO and virtually zero revolving debt. sock drawered card but still. I called and closed it. My $ is they're having probs and looking to reduce exposure. Certainly not worth taking it personally. My $ is on there's going to be a lot more of us. 

[Epiki71]

cancel the card, there are other lenders way better.

[Jeffster1]

I don't ever use my Upgrade account, and had planned for months to close it. Another thread earlier reminded me that i really need to call to close. I'm on the West Coast and called shortly after 6:00 PM. Customer Service already closed. I'm calling at 5:00 AM tomorrow before the gym and finally getting rid of this thing.

[FireMedic1]

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@Baywatch wrote:

I just got an email from Upgrade that my LOC was reduced from 10k to $500 due to the following (they cite Trans Union):

• Usage of revolving accounts is too high
• Recent increase in usage of accounts
• Recent increase in utilization of bank-issued credit cards
• High number of accounts recently opened

None of that seemed familiar to me, so I pulled my Trans Union report, and my utilization has gone down, not up.
TU Fico 8 is 735, and utilization is listed as 29%, which is higher than it actually is but whatever.

I was in the hospital briefly last month, so all my cards only got the default auto-payment, which may have briefly moved the dial on my utilization and score, but as soon as I got home I paid them off as I typically do each month.
A $500 limit serves me absolutely no utility.

I have never actually used the card, but I did have a loan from them last year for $17.5k, which I paid off in 2 months.

This card seems to have no phone number to call, what should I do, just say 'screw it', since I never used the and it's not reporting to any of the Credit Bureaus that I can notice?

It just feels pretty **bleep**ty to have them decrease my credit line so drastically. Even without this card, I still have a total line of credit of about $80k across all my other cards - should I care about the decrease here, should I try to ask them **bleep**?

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The way things are now. There you go. They arent the only one slashing CL's or closing accounts.

[krmurrayjr10]

I got smacked with this e-mail last night: $1,500 > $500. I've never used it, so I have no problem closing it.

Actually closing it, however, is easier said than done. I tried calling in to CS last night, but the wait times to speak with someone approached an hour, which made me suspicious that a whole lot of people received similar emails. Not wanting to waste my valuable time on them, I sent an e-mail instructing them to close it, and am now waiting on a response.

[Baywatch]

I had the same experience and also sent an email asking them to either restore my LOC or close my account out.

as another user posted, I have a similar story where my scores and utilization was higher when I opened the account than what it is now.

not exactly sure what they expect, $500 limit, especially with this cards structure makes zero sense.

[RSX]

i feel for you - but had to jump in and say - sounds like they should rename to DOWNgrade card

close it or leave it open if no AF - if you weren't using it anyway, then any of the lenders can drop CL or close out entirely - this is not Upgrade specific activity