Credit Card Cld on multiple accounts- will freezing stop CLD?

[cl202br]

Going thru Cld's on Credit cards. I got into a bind due to a bad tenant not paying rent and other things coming up all at once. I was using 30%of my credit lines to get back on track and stay  afloat. will freezing CC reports  prevent cld's as the cc companies can't see the total picture? I'm trying to get back on track wihout util going up quickly.

[keekers]

No; that won't make any difference. CC issuers can soft pull your reports regardless of a freeze.

[JoeRockhead]

As said, freezing reports won't help. They see everything on a SP, only it's older data (30 to 60 days). The only thing you can do to help stop CLDs and balance chasing is reducing high reported utilization on any cards near maxed out status, OR not carrying significant balances across several (or all) of your accounts. Being seen as highly leveraged is a red flag 

[FlaDude]

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@cl202br wrote:

Going thru Cld's on Credit cards. I got into a bind due to a bad tenant not paying rent and other things coming up all at once. I was using 30%of my credit lines to get back on track and stay  afloat. will freezing CC reports  prevent cld's as the cc companies can't see the total picture? I'm trying to get back on track wihout util going up quickly.

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Have you actually gotten CLDs recently or are you just concerned? Maybe I was just lucky, but at one point I had 75k of CC debt, many of my cards were maxed out, overall utilization was probably over 65% and I've never had a CLD, except for a Sync JCPenney card that was CLD'ed and eventually closed due to non-usage way after I got out of debt.

[Brian_Earl_Spilner]

Freezing a bureau only keeps new pulls from happening for new credit. Any existing lenders have permissable purpose and can pull your credit regardless. 

[cl202br]

Yes. I did put a high spend on two cards and been noticing multiple cld's in the past two months. 

[SouthJamaica]

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@cl202br wrote:

Going thru Cld's on Credit cards. I got into a bind due to a bad tenant not paying rent and other things coming up all at once. I was using 30%of my credit lines to get back on track and stay  afloat. will freezing CC reports  prevent cld's as the cc companies can't see the total picture? I'm trying to get back on track wihout util going up quickly.

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1.  Welcome to the forum.

2. Sorry, but as others have told you, freezing the reports would accomplish nothing.

3. The only way to avoid the CLD's is to try to pay things off as quickly as possible.

4.  But you might want to try calling, and ask them to reinstate the limits. Sometimes that works, sometimes it doesn't.

[longtimelurker]

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

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I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

[Brian_Earl_Spilner]

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@longtimelurker wrote:

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

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I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

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There's no difference in data. The HP is just a way to show everyone that you were seeking credit. 

[longtimelurker]

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@Brian_Earl_Spilner wrote:

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@longtimelurker wrote:

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

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I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

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There's no difference in data. The HP is just a way to show everyone that you were seeking credit. 

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That is what I always thought but have heard many different opinions.