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Established Contributor
l9ikjam
Posts: 662
Registered: ‎09-07-2007
0

1st CLD(Chase)

I was just keeping my 2 Chase(Wamu) cards open until they hit the 2 year year mark and I use them both at least once per Month. I logged in to PIF and both CL's went from $750 to $300. Now I'm just gonna close them all together. 2 less cards I have to worry about. O yeah I went to check my mail Saturday and got a letter from them saying because I'm such a great customer I could get $150 for opening a checking account. I been tryna get an CLI since opening these accounts and never did.
Advice is what we ask for when we already know the answer but wish we didn't.
Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
0

Re: 1st CLD(Chase)

My Chase card is seeing minimum usage, it has a $2k limit. My Citi secured card with a $200 limit gets more usage than my Chase card.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: 1st CLD(Chase)

And the evil doer just keeps doing evil...
Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
0

Re: 1st CLD(Chase)

i wonder if this is going to get worse and Chase starts following AMEX's footsteps...
Established Contributor
Revike
Posts: 720
Registered: ‎05-04-2007
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Re: 1st CLD(Chase)

Chase is in the process of closing or reducing credit limits on about 3 million ex-WaMu accounts. This sounds like it might be one of those ...
Regular Contributor
Grape
Posts: 111
Registered: ‎09-26-2008
0

Re: 1st CLD(Chase)

Just got my first CLD from Chase (and from anyone for that matter, so I consider myself relatively lucky)...CL cut from $1K to $700, and this was a former WAMU acct that had been converted and changed to a PerfectCard (had called in after switch to get the product change)...

 

My scores are: EQ 683 and TU 702

 

Usually charge about $3-500 per month on this account and generally PIF or at most leave a $30-60 balance. 

Established Contributor
l9ikjam
Posts: 662
Registered: ‎09-07-2007
0

Re: 1st CLD(Chase)

I just got a letter from Chase and the reasons they lowered my limits r

 

#1 The number of bankcards opened has grown too fast

#2 Average length of time since bankcards opening is too short

#3 Too few open accounts with time on file greater than 24 Months

 

 LOL I was gonna wait until these cards hit the 2 year mark but I will close them now. I was never a big fan of Chase and I will feel good ending this relationship.

Advice is what we ask for when we already know the answer but wish we didn't.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: 1st CLD(Chase)


l9ikjam wrote:

I just got a letter from Chase and the reasons they lowered my limits r

 

#1 The number of bankcards opened has grown too fast

#2 Average length of time since bankcards opening is too short

#3 Too few open accounts with time on file greater than 24 Months

 

 LOL I was gonna wait until these cards hit the 2 year mark but I will close them now. I was never a big fan of Chase and I will feel good ending this relationship.


 

Well at least they gave you some reasons that make sense and might well be true. Seems that that's more than many have received. Just think twice before closing anything. They haven't kicked you to the curb, just clipped your wings.

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