No A/A?

with 30 experian inqs?

Why has noone comented?

Well, I screwed up.
I had some unused credit lines with AMEX, and decided to transfer the credit to my In:LA card so I could BT some more (13K). Sent it online to BoA to launder into my checking. So far so good.
Then I called to ask AMEX for the exact date that the 0% offer ended. That's when I realized the 13K was NOT 0% but 16%. (I know I should have called BEFORE the BT, but I was online, it looked easy ...)
So now I have 75K at 0% and 13K at 16%, which if my math is correct is somewhat of a wash since I'm getting 5% in HYS (yes, I'm ignoring taxes).
So I paid the whole damm thing off.
I lost out on a significant (~$1,500) chunk of potential interest and I'm kicking myself.
At least I caught it 5 days after the poorly planned BT, so I didn't lose any real $$, just potential $$.

What does the FWF world think is the next best move?
1 - nothing, eat crow, wipe the egg off my face etc.
2 - apply for a new In:Chicago card now, move the credit over and do it right this time.
3 - wait for March when about $130K 0% money comes due and apply for the IN:Chi then.

I have bumped all my inqs off TU and EQ already.

Most everything is in coast mode now, B* is done, payments automated, $$ rolling in from HYS and some more profitable ventures.
Only a couple of issues

AMEX did an F/R when I called them about the BT screwup above. They must have had me flagged, 'cause I went straight to F/R when I called to talk to a CSR. He asked me a few questions, put me on hold a few times, came back and said "no problem, let me get you a CSR to answer your original question"

Chase just sent me a letter saying I was not entitled to the 20K British Airways miles since I already got one bonus last year. I suppose it's only a matter of time before they debit my BA account. AFAIK this is new for Chase/BA. Flyertalk has long known of the Chase/United churning problems, but not Chase/BA

Cardselection came through with all $230 ($25 I had to email them to verify a card was approved)

BoA - I had to call Schwab to get them to reaalocate my credit into the big new 0% deal, total CL $171,100

All balances reporting (including the AMEX which is paid off now): FAKOs 707, 666, 743, can't b* the EX

devildoc said:The adverse action has finally started, albeit gently.
Juniper dropped my CL to $350 above my balance (putting me at 99% util)
claiming:
"Growth rate of overall debt is too high
Too many accounts opened in the past 6 months"
and citing TU as their source

so now the question is: Do I pay it down to 89% and see if that gets them off my back, or ignore it and see if they'll just keep dropping my CL as I make minimum payments.

Overall personal util is now at 51% (or 34% if you count my HELOC)

Wow, didnt know this was possible. Wont this hurt your credit score A LOT? I hate how they simply do this so you will pay off the balance and go away, what a scary practice. It is close to a bait and switch program if you think about it, they reel you in with the 0% offer, then make it so bad that you have to pay it all off immediatly, or if you actually had the debt, take a hit on your credit score because they offered up something they want out of now.

I say stick with it, pay minimum payments and let it hit the file. SInce you just did your AOR you should be fine in a year. BUT do not listen to my opinion purely as I do not plan on needing my credit file for another 2 years, when I will start looking to buy houses, and do not mind over 90% util on my cards if a CC co. does this to me in the future. I am not sure how long it takes to repair the damage of this sort, but would like to hear from someone with experience how long it seems to take.

Chase just did the same thing with me (CL cut by $13K to just $300 above the current balance = 99+% utilization on the card) ... and I started to fully appreciate the questions such action poses. My guess is that they want either push you to really pay down the balance or make this card glow on you credit report like a pound of radioactive plutonium 210.

Paying down the balance would be voluntarily reducing the scope of you AOR, but having a card at 99% utilization may trigger similar actions from other issuers. My take is that even if other issuers start cutting CLs one would probably end-up with a larger overall credit after AOR than before. However, if the AA gets as bad as closing then all bets are off ... Another consideration is that Chase (not sure about Juniper) has been reported to cut people's CLs more than once (2-3 times, with the last cut being done [sometimes] after the entire balance is paid off), but it's not like they'll be trimming your CL every month. So, if I were you I'd probably pay the card down to 89% and see if another CL reduction (on this same card) follows soon.

In my own case case I decided not to worry about utilization, as I'm only a month away from having to pay the entire balance back anyway (damn, I was almost coming out clean!).

PorStaker said:
Wow, didnt know this was possible. Wont this hurt your credit score A LOT? I hate how they simply do this so you will pay off the balance and go away, what a scary practice. It is close to a bait and switch program if you think about it, they reel you in with the 0% offer, then make it so bad that you have to pay it all off immediatly, or if you actually had the debt, take a hit on your credit score because they offered up something they want out of now.

I think the impact to your credit score is more of a byproduct of what they are doing. We aren't really the average credit users, so our usage is not typical. The reason they reduce the credit limit is because they assume you are deeply in debt and they don't want you to be able to rack up even more debt that you will then default on. I think that is their real concern here. Of course, that does not apply to us (unless you are buying mortgage REITs or trying to put together a LBO with other FWFers) but that is how it looks from the issuers perspective.

brushwood
I think the impact to your credit score is more of a byproduct of what they are doing. We aren't really the average credit users, so our usage is not typical. The reason they reduce the credit limit is because they assume you are deeply in debt and they don't want you to be able to rack up even more debt that you will then default on. I think that is their real concern here. Of course, that does not apply to us (unless you are buying mortgage REITs or trying to put together a LBO with other FWFers) but that is how it looks from the issuers perspective.[/Q said:

Hey, I felt that all the way over here.

I've always BTed the entire line -500, why don't you dispute the balance and then you can have an answer within a few days. The answer being, how bad will the score drop.

It really sucks that they get to do this.

BRUSHWOOD, Maybe if we could earn more than 1% or 2% over inflation we wouldn't have to trash our scores by using as much of our credit as possible. Doing a LBO today wouldn't be good, but soon there will be a chance of a life time. But ya I know, you won't be there to profit from it.

This question doesn't need an answer from you and I don't want to trash the OPs thread, but what will you do when your CDs are yielding 2% really soon.

I guess AOR will be dead 200,000 @ 2% = 4,000.00 not even worth the hassle.

If you feel you need to answer take it to my thread.

devildoc said:The adverse action has finally started, albeit gently.
Juniper dropped my CL to $350 above my balance (putting me at 99% util)
claiming:
"Growth rate of overall debt is too high
Too many accounts opened in the past 6 months"
and citing TU as their source

so now the question is: Do I pay it down to 89% and see if that gets them off my back, or ignore it and see if they'll just keep dropping my CL as I make minimum payments.

Overall personal util is now at 51% (or 34% if you count my HELOC)

Juniper did this to me too...also citing TU as their source. I just called them up and talked to someone in their Portfolio Credit department. The CSR explained what the letter I got stated (pretty much what they claimed for you). I asked him if proving I could pay my CC balances with cash on hand would work and he said yes. So, I just faxed him a copy of my savings account balance and my original credit line was restored pretty soon afterwards.

ahself said:devildoc said:The adverse action has finally started, albeit gently.
Juniper dropped my CL to $350 above my balance (putting me at 99% util)
claiming:
"Growth rate of overall debt is too high
Too many accounts opened in the past 6 months"
and citing TU as their source

so now the question is: Do I pay it down to 89% and see if that gets them off my back, or ignore it and see if they'll just keep dropping my CL as I make minimum payments.

Overall personal util is now at 51% (or 34% if you count my HELOC)

Juniper did this to me too...also citing TU as their source. I just called them up and talked to someone in their Portfolio Credit department. The CSR explained what the letter I got stated (pretty much what they claimed for you). I asked him if proving I could pay my CC balances with cash on hand would work and he said yes. So, I just faxed him a copy of my savings account balance and my original credit line was restored pretty soon afterwards.

Great idea. I'll try that as well

lhendricks92 said:
they cut my personal line and my wife's person line 3 times as I tried to pay the balance down to 89%. Happened about a year ago. regardless, i suggest moving all of your juniper BT investing activities to the BankAtlantic biz card.
While I agree with this in theory, I would like to mention that when I voluntarily paid off my National Parks $17K 0% balance with the intention of reallocating the $20K line to my Bank Atlantic card, I found that Juniper/Barclays closed my National Parks account the same day the payment posted. Note that I had not seen any adverse action from Juniper until that point.