Credit Limit Decreased on a Nonactive Card

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4 posts
Jessetaylor
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Credit Limit Decreased on a Nonactive Card

Postby Jessetaylor » Sat Aug 23, 2014 8:58 am

I am looking for every way to increase my credit score. I have three cards: Discover Card with a $6,000 limit (Just approved for a request to increase from $4,500), my Gold AMEX which I use for 99% of purchases, and a Banana Republic Visa that I have had for about a year and a half.

The Banana Card limit was $4,000, I NEVER use the card. For the few times I did I made small purchases with it <$100. I just look now and my credit limit for that card is now $1,024.

My credit score is around 760.

Should I be concerned? I want to request an increase simply for a higher ceiling, but given they decreased it on me and since I requested a limit increase on my Discover card just a few days ago, I'm not sure what to do? :money:
AMEX Premier Rewards Gold
Chase Sapphire Preferred $9,000
Discover $6,000
Visa Ban. Republic $4,800 - This was a mistake.


MemberSince99
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Postby MemberSince99 » Sat Aug 23, 2014 9:58 am

That is pretty common - if you don't use a card eventually they either decrease the limit on it or close it.


You should try to use it at least once every 6 months or so to avoid this. And you can call them and tell them that you plan to use it more and ask them to restore the limit on it.

rockyrock
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Postby rockyrock » Sat Aug 23, 2014 10:01 am

It's been my experience that certain lenders won't just increase your limit just for the sake of increasing it. All of my successful CLIs have occurred during times of high usage and I called to tell them I needed a higher limit to keep my ratio low. I'm sure others will chime in and indicate they have had great success in situations like yours. Think of it from a lenders point of view: if you aren't using it, why give more.

Your best bet is proly to open a new no AF card from a CU or maybe a Amex revolver; both have been known to offer generous limits.

Of course YMMV.

Good luck.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

takeshi
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Postby takeshi » Mon Aug 25, 2014 8:26 am

Jessetaylor wrote:Should I be concerned?

You've gone from $10K in available revolving credit to $7,204. How does it affect your utilization?

Jessetaylor wrote:I want to request an increase simply for a higher ceiling, but given they decreased it on me and since I requested a limit increase on my Discover card just a few days ago, I'm not sure what to do?

If you want a CLI or to have the limit restored then call them. If you want to avoid this in the future then make sure you use your Banana Republic card. It might be easier to add a card that you know you'll use versus trying to maintain a card that you never intend to use.



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