By
TheBattman
So- my credit file has not significantly changed in a long time (and I qualified for long-term zero% auto loan back in April).
I do carry significant balances on my credit cards, but always pay (auto-pay) significantly more than minimum payments.
but something triggered an odd cascade in the last few weeks.
I got notice one of my Synchrony accounts had suddenly had the credit limit dramatically reduced. I contacted them and they said they periodically check credit report and make changes. The letter they sent indicated high balances to limit on cards.
a day later ai get another letter from Synchrony- for a second account with them was having the limit reduced...
we all know this impacts your credit score, as it messes up your utilization %.
today, I got notice from a different bank- that, due to higher credit utilization rates, they dramatically reduced my limit in that card -
Which of course now even further rips my credit score...
And this afternoon, I get notice from Synchrony that my Automotive account (that has never had particularly high balance can limit) was having a limit reduction down to the current balance!
What’s going on? I have NEVER been late, never payed just the minimum payments on any accounts...
Is there some massive banking “surprise” on the horizon?
I did recently put a credit freeze on all 3 bureaus due to someone filing for unemployment with my name/SS# and I filed a police report on that.
I have paid credit monitoring service- and there is nothing new or odd on my CR...
So what’s going on?
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