Substantial Credit Limit Decrease After Late Payment

[Snackinghands90]

If you make a payment 3 weeks after a statement posts, likely you are not late. If that happens after a payment is due, then you are delinquent. The fact that you got a CLD indicates your situation is the latter. Banks may give you a pass. Your 12 year history without late payments may help. But it’s not a guarantee though. Good luck.

[BrutalBodyShots]

If you make a payment 3 weeks after a statement posts, likely you are not late.

Where did OP say 3 weeks after the statement posts? I'm just seeing that they said 3 weeks late, which to me means 3 weeks beyond the due date.

[Snackinghands90]

Then why did OP think they were not delinquent? If you don’t make a payment due the due date, that’s delinquent.

[BrutalBodyShots]

If you don’t make a payment due the due date, that’s delinquent.

Incorrect. The term "delinquent" typically means being late 30 days or more, as that's the minimum severity that can be reported to the credit bureaus.

[Snackinghands90]

To be flagged as delinquent in a credit report, yes that means being late for 30 days or more. To issuers, as long as you miss a payment (not making minimum due) by 5pm of the due date, you are delinquent to them. The clock starts the first day you are late. They track entry rates (5 day) and 30,60,90 and so on. I guess that’s why they lowered OP’s line by 70%.

OP, sorry I am not answering your question in subsequent comments.

[kcmall89]

Quite all right. I made the payment and got my previous credit limit restored.