Beware: Hatchet Man at Huntington Bank CLD

[peghede]

Beware: the Hatchet Man Slashing Limits CLD

 

Hatchet Man at Huntington Bank CLD from 75k to 35k

 

Reports are they do this on lots of cc.

Soon or later most of us will get CLD !

It's not about files,exposure, nonsense bs ect..

They started doing this in April.

They just doing massive  CLD left and right on customers.

Edited June 23, 2019 by peghede

[peghede]

Correction to above,

CLD from 75k to $40k

Edited June 23, 2019 by peghede

[ldayton]

They straight up closed mine with no warning.  I had not used it much in the last year, but was not inactive.

[centex]

It is disingenuous to claim exposure is not a factor.  ALL banks are required to have sufficient reserves.  Where a line is not being used, it deserves to be chopped so that the institution can put those funds towards an account that actually WILL be used by the cardholder. 

[peghede]

lines were used ,credit was not just seating there collecting dust, don't assume right away that...,,

[hdporter]

Well aren't you as popular with the banks right now as a turkey on Thanksgiving morn? ...

[steelers1]

On 6/23/2019 at 6:03 PM, peghede said:

lines were used ,credit was not just seating there collecting dust, don't assume right away that...,,

Why do you think they are CLD cardholders?

 

Banks don't do it for no reason whatsoever. Maybe a pack of gum or a cup of coffee every few months doesn't justify a high credit line with then anymore. 

 

$40k is still a relatively high exposure with a regional bank.

[peghede]

Some banks still aren't ready to lend  like others do,some when they do lend, they choke (lebron) because their risk and so on,and then The Hatchet Man comes down the pipe..

 

[centex]

Banks lend based upon a number of variables, but the exposure STILL has to be covered by reserves.  With some of the economic indicators, it stands to reason that there is some retraction and it ALSO stands to reason that a line that is not seeing substantial use is going to be a prime candidate for decrease.  Further, it could ALSO be something as simple as new officers coming in and deciding that they don't want individual lines beyond a specific threshold...in this instance, the Board did recently bring in a former Treasury Official to serve as Risk Officer, the same capacity in which he had served Treasury.  

 

Compounding issues is that the first quarter results saw increases in charge-offs and total under-performing assets.   

 

If I have, by example, a $50K line that does not at least bump off of that amount at least once every few months, then I have no reasonable expectation that it will remain in place.  FULL use of a card still does not mean one is having to pay any amount of interest...

 

As a stockholder of some institutions that extend personal lines, I am quite glad to see lines that are not fully utilized get chopped so that lines may be extended to the customers that WILL maximize the spending up to the limit that has been put into place.  More spending means more profit which means the potential for increased dividends... 

[peghede]

Update:

Hatchet Man at Huntington Bank CLD another $13,350

 

Email:

Huntington Credit Card ending in: ====
 
We're writing to let you know that as of June 25, 2019, we are decreasing the credit line on your Huntington credit card referenced above. You will also receive a notice with more information by mail in the next few days.

This decrease was part of a general review of Huntington credit card credit lines. You can continue to use the credit card as you do today up to your new limit. You can view your new credit line by logging into your account at huntington.com. If you have any questions, please call us at (800) 340-4165, 24 hours a day, 7 days a week, or visit any Huntington branch to speak with a banker.

Edited June 26, 2019 by peghede

[NorCalR1]

2 hours ago, centex said:

.......If I have, by example, a $50K line that does not at least bump off of that amount at least once every few months, then I have no reasonable expectation that it will remain in place.  FULL use of a card still does not mean one is having to pay any amount of interest...

 

As a stockholder of some institutions that extend personal lines, I am quite glad to see lines that are not fully utilized get chopped so that lines may be extended to the customers that WILL maximize the spending up to the limit that has been put into place.  More spending means more profit which means the potential for increased dividends... 

A couple points here.

 

1) I would like to see just how many customers utilized 25K of a 50K credit line every few months. I don't have facts to support it, but I believe this is the rare exception and not the rule.

 

2) I am also a stockholder in banking/finance and have done OK in this sector as part of an overall diversification in my portfolio. Of course I would like to see capital used to fund lines that have a greater return, but not at the expense of voluntary customer attrition. 

Edited June 26, 2019 by NorCalR1
mistype

[centex]

3 hours ago, NorCalR1 said:

A couple points here.

 

1) I would like to see just how many customers utilized 25K of a 50K credit line every few months. I don't have facts to support it, but I believe this is the rare exception and not the rule.

 

2) I am also a stockholder in banking/finance and have done OK in this sector as part of an overall diversification in my portfolio. Of course I would like to see capital used to fund lines that have a greater return, but not at the expense of voluntary customer attrition. 

If the customer lacks the capacity to USE even half of the line, then the line is clearly in need of adjustment. 

 

Voluntary attrition where someone cuts the nose off to spite the face will quickly be replaced by incoming customers who DO desire to actively use the credit products. 

 

Go risk management! Sis boom bah!

[peghede]

Update:

So from $75,000  CLD TO $26,950

 

In all $48,050 CLD from Huntington Bank Hatchet Man.

[CTSoxFan]

I am not sure why you get so upset (or at least come off that way).  It is just business.  They want to reduce utilized exposure and move it to other customers who may use it (and pay interest on it).  You can choose to accept the new terms or end the relationship.

 

I guarantee emotion plays no part in their decision making, it shouldn't in yours either.

[PotO]

23 hours ago, CTSoxFan said:

I guarantee emotion plays no part in their decision making, it shouldn't in yours either.

 

This has to be one of the dumbest, most often used lines.

 

If you worked for me and I needed to fire someone and picked you, would you just shrug it off and say, "Oh, well, that's ok.  I understand it's just a business decision"?

 

And that is a hypothetical question, by the way.  The first thing you'd do is morph into a whiny little beach and go postal.  

 

 

[hdporter]

25 minutes ago, PotO said:

 

If you worked for me and I needed to fire someone and picked you, would you just shrug it off and say, "Oh, well, that's ok.  I understand it's just a business decision"?

 

And that is a hypothetical question, by the way.  The first thing you'd do is morph into a whiny little beach and go postal.  

 

 

 

Speaking only for myself ... yeah, that's pretty much what I'd say.

 

At this point, the deed is in place.  I've never heard of anyone talking themselves out of an outright firing/layoff.   Typically, the cards have been on the table for weeks, if not months, beforehand.  I'd look to "go out" with a little dignity.

 

(That's not to say that I might not return a month later looking for a particular set of tires to slash ...   )

[PotO]

22 minutes ago, hdporter said:

 

Speaking only for myself ... yeah, that's pretty much what I'd say.

 

At this point, the deed is in place.  I've never heard of anyone talking themselves out of an outright firing/layoff.   Typically, the cards have been on the table for weeks, if not months, beforehand.  I'd look to "go out" with a little dignity.

 

(That's not to say that I might not return a month later looking for a particular set of tires to slash ...   )

 

Sure.  Many, maybe even most, would do as you have stated.

 

But that doesn't mean you're thrilled at getting shi!canned.  I doesn't mean you're not going to complain ... vent ... be pissed off.  And you are definitely not going to appreciate some lame arsed comment about "It's only business".  

 

In Uncle Sam's Misguided Children we teach everybody about their 11 General Orders.  We even teach about the 12th.  But, in fact, there are actually 14.

 

13.  Don't get mad, get even.

14.  Revenge is a dish best served cold, but hot or even lukewarm is also ok.

[hdporter]

It sounds to me like you're supportive of CT's comment re emotion/decision making.

 

He never denied that there's a gut emotional reaction to decisions that impact you adversely.  He's just asserted that they don't have a constructive role in responding rationally.

 

But, yeah, if we're talking about something that's even temporarily life changing, there's some frustration that needs to be vented.  That's what dogs were domesticated for. 

 

 

[PotO]

24 minutes ago, hdporter said:

It sounds to me like you're supportive of CT's comment re emotion/decision making.

 

He never denied that there's a gut emotional reaction to decisions that impact you adversely.  He's just asserted that they don't have a constructive role in responding rationally.

 

But, yeah, if we're talking about something that's even temporarily life changing, there's some frustration that needs to be vented.  That's what dogs were domesticated for. 

 

 

 

I'd stick with the tires.  Kicking dogs is a felony.

[hdporter]

23 minutes ago, PotO said:

 

I'd stick with the tires.  Kicking dogs is a felony.

 

No doubt.  But tires are a lot more passive about the whole things ...

[CTSoxFan]

1 hour ago, PotO said:

 

This has to be one of the dumbest, most often used lines.

 

If you worked for me and I needed to fire someone and picked you, would you just shrug it off and say, "Oh, well, that's ok.  I understand it's just a business decision"?

 

And that is a hypothetical question, by the way.  The first thing you'd do is morph into a whiny little beach and go postal.  

 

 

They are not close to the same thing.  Losing your job has a much bigger impact on your life than getting a credit line reduced.  Getting a credit line reduced doesn't affect your ability to provide for your family (and if you are living on CCs you have bigger issues).  Plus it is much easier to get another CC with a different lender than to secure new employment. 

 

And if it were the case I would not go postal.  What is that going to serve other than further ruin my reputation at the company and submarine any chance I have of utilizing anyone there for a referral (although if I were getting fired I wouldn't likely being looking for a referral from that company).

 

[PotO]

26 minutes ago, CTSoxFan said:

They are not close to the same thing.  Losing your job has a much bigger impact on your life than getting a credit line reduced.  Getting a credit line reduced doesn't affect your ability to provide for your family (and if you are living on CCs you have bigger issues).  Plus it is much easier to get another CC with a different lender than to secure new employment. 

 

And if it were the case I would not go postal.  What is that going to serve other than further ruin my reputation at the company and submarine any chance I have of utilizing anyone there for a referral (although if I were getting fired I wouldn't likely being looking for a referral from that company).

 

 

You are assuming what different people find important in their lives.  In any event, it is still taken as a slight.  Firing you is just a business decision.  You would go all whiny little beach if I just took your parking space away from you instead of firing you.  

 

People vent.  People complain.  People take things personally whether they were intended to be personal or not.  That's life.    

[CTSoxFan]

29 minutes ago, PotO said:

 

You are assuming what different people find important in their lives.  In any event, it is still taken as a slight.  Firing you is just a business decision.  You would go all whiny little beach if I just took your parking space away from you instead of firing you.  

 

People vent.  People complain.  People take things personally whether they were intended to be personal or not.  That's life.    

I never said you can't complain about it, I just said it isn't worth getting upset over, which was my opinion.  I also said you shouldn't use emotion to make financial decisions (or most decisions for that matter).  My second point which you glossed over is that you can't compare losing your job to having a credit line reduced because they aren't going to have equivalent levels of impact on 99% of people's lives.

 

And stop assuming you know how I would react to situations, you don't.

[PotO]

24 minutes ago, CTSoxFan said:

I never said you can't complain about it, I just said it isn't worth getting upset over, which was my opinion.  I also said you shouldn't use emotion to make financial decisions (or most decisions for that matter).  My second point which you glossed over is that you can't compare losing your job to having a credit line reduced because they aren't going to have equivalent levels of impact on 99% of people's lives.

 

And stop assuming you know how I would react to situations, you don't.

 

I didn't gloss over it.  I ignored it because it is irrelevant.

 

And nobody cares how you would react.  The fact is that some people don't like CLDs.  Get over it.  And telling them it's just business is dumb.  They know that.  But they want to vent.  I've seen you vent on CB before and nobody comes up with some lame sentence like, "It's only business."  

[CTSoxFan]

47 minutes ago, PotO said:

 

I didn't gloss over it.  I ignored it because it is irrelevant.

 

And nobody cares how you would react.  The fact is that some people don't like CLDs.  Get over it.  And telling them it's just business is dumb.  They know that.  But they want to vent.  I've seen you vent on CB before and nobody comes up with some lame sentence like, "It's only business."  

If getting fired or losing your parking space was irrelevant, why did you bring it up?  You made the comparison, I was the one saying it was irrelevant because they aren't equivalent, so I am glad we can agree on that.

 

You obviously care how I'd react because you said I would be a whiny little bitch on two different occasions.  I do find it funny that you are always the first to make a snide comment towards someone (hell, it's how you got your nickname) and now you are getting on me for what you perceive was a snide comment.