Has Your Credit Card(s) CL Been Reduced, Closed, or Frozen? If So, Please Explain!

[ColoNative]

My HSBC Discover sent me a letter CLD from $1,000.00 to $300.00 based on new accounts opened. Chevron and Dillards $300.00 CL each. My usage is high on the Direct Rewards Discover about 50% but always way ahead of time on payments, I never saw it coming.

Chevron & Dillard's-both GEMB. But your HSBC Discover was CLD? That bites, because HSCB is stingy as it is with CLI. Oh well, maybe you can get a real Discover Card in a year and you can ditch that fake one.

[RivasGlo]

I also feel that they are targeting Wal-mart...

I wanted to order something from Sephora and use my JCP Card to show some usage... But im scared that any type of activity will cause a CLD. I just went from $300 to $1500 and I dont want to loose it

OH NO! I also have that HSBC Direct Rewards Discover!

I just checked it and im still at my stupid CL of $900, APR 18.99%! I have really high utilization and I think imma go ahead and do a balance xfer to my Capital One Card. I dont want anymore CLD! I was so angry when they reduced my Wal-mart. Oh well its the bank protecting themselves, its okay though, now I dislike you GEMB (notice I dont hate them yet, bcuz I still got my JCP!)

[hjm331]

RivasGlo, I think you breath easily for right now because I have not heard of any CLD's from HSBC.

[ColoNative]

RivasGlo, I think you breath easily for right now because I have not heard of any CLD's from HSBC.

Jay1 had a CLD on his HSBC Discover. But yes, this is the first I have heard about this.

[ColoNative]

I also feel that they are targeting Wal-mart...

I wanted to order something from Sephora and use my JCP Card to show some usage... But im scared that any type of activity will cause a CLD. I just went from $300 to $1500 and I dont want to loose it

OH NO! I also have that HSBC Direct Rewards Discover!

I just checked it and im still at my stupid CL of $900, APR 18.99%! I have really high utilization and I think imma go ahead and do a balance xfer to my Capital One Card. I dont want anymore CLD! I was so angry when they reduced my Wal-mart. Oh well its the bank protecting themselves, its okay though, now I dislike you GEMB (notice I dont hate them yet, bcuz I still got my JCP!)

See, this is too bad, because now people are afraid to use their cards.

[hjm331]

I missed that one, sorry! I guess HSBC will cut your limit if you're opening new accounts meaning that you are out there applying for new credit for you to rack-up charges that you will not be able to pay back. That's what they would think with the current economic climate.

[Meya]

You all have to remember, the economy is really bad right now. A lot of these banks are struggling. In order to lend us money, they have to borrow money; and the banks just aren't lending each other money right now. I am not saying that this is right and yes, they are ticking a lot of people off, but these banks are almost being forced to because they don't have the money to lend.

Question! If this is the case, then why are they still approving new accounts with poor scores or whatever type you may have? I think it is very contradicting to cld a good paying customer and offer a new cl to a another. Let's say for instance, a few months ago, my friend was approved for a walmart card, her scores are very low and she still has a few old baddies left. How in carnation would GEMB give that person a chance, but cld someone who they see for a fact is paying them faithfully? I just don't get it.

[Meya]

See, this is too bad, because now people are afraid to use their cards.

Not only that, the internet is going to be flooded with people checking their accounts on daily basis. If not 3 or 4 times per day!

[hjm331]

Question! If this is the case, then why are they still approving new accounts with poor scores or whatever type you may have? I think it is very contradicting to cld a good paying customer and offer a new cl to a another. Let's say for instance, a few months ago, my friend was approved for a walmart card, her scores are very low and she still has a few old baddies left. How in carnation would GEMB give that person a chance, but cld someone who they see for a fact is paying them faithfully? I just don't get it.

They want to gain new customers and when they CLD their current customers, they hope that their current customers don't close their accounts. They are looking for a win-win situation.

[RivasGlo]

I missed that one, sorry! I guess HSBC will cut your limit if you're opening new accounts meaning that you are out there applying for new credit for you to rack-up charges that you will not be able to pay back. That's what they would think with the current economic climate.

The last account I got was the Hooters MC and that was 06/2008. All of next year is gonna consist of alot of inquiries falling off and for that I cannot wait!

[hjm331]

RivasGlo, I'm with the same mindset as you are. I will not be applying for any cards until next December and I should see 50% of my inquiries fall off within the next 6-7 months.

[RivasGlo]

Yup yup, I might even close some stupid accts (target, walmart...) I dont need if I dont get CLI...

I dont think ill apply for credit. Unless I see an offer I cannot resist lol.

[hjm331]

I've closed all the accounts without benefits including AMEX. The way I see it is that I will get denied if I apply for a new card so that's what keeps me away from applying for any cards.

[ColoNative]

Question! If this is the case, then why are they still approving new accounts with poor scores or whatever type you may have? I think it is very contradicting to cld a good paying customer and offer a new cl to a another. Let's say for instance, a few months ago, my friend was approved for a walmart card, her scores are very low and she still has a few old baddies left. How in carnation would GEMB give that person a chance, but cld someone who they see for a fact is paying them faithfully? I just don't get it.

Good question especially since a new customer does not have any history with them. Maybe initial credit lines will be smaller then they were? GEMB doesn't make sense too often anyway it seems!

[ColoNative]

Not only that, the internet is going to be flooded with people checking their accounts on daily basis. If not 3 or 4 times per day!

I know right? I check my American Express everyday. So far, so good.