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CLI with Chase with a SP only

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Anonymous
Not applicable

Re: CLI with Chase with a SP only


@dapps06 wrote:

Think about the concept of the credit game, the idea is to improve your credit to improve your terms. No reason exists to improve your credit if it's not going to improve your terms. Imagine if every lender did business the way Chase is doing business here, what incentive would people have to improve their credit situation? Are we morally obligated to keep our utilization at a certain level, to carry balances on only x number of cards? No, we do these things because we're playing the game. Chase wants to play only part of the game, they want to bat but they don't want to play in the field. They're happy to impose unfavorable terms based on poor or average credit, but when that same credit situation transforms into good or excellent status, Chase says "eh, your credit doesn't matter so much anymore".

 

That kind of business practice should disgust literally everyone. If more people did what I'm about to do, closed their accounts, guess what? Chase would abandon this practice in no time at all. As long as they have people making excuses for them they'll continue to act in this manner. I didn't have A lender treat me favorably, I've had every single lender I've dealt with treat me favorably and reward my credit resurgence. THIS is the standard practice, to reward your customers if they show financial responsibility. Chase appears to only be interested in credit if it's inadequate enough to qualify for favorable, from their position, terms. That's not how the credit game is designed, it completely defeats the purpose of the entire system.

 

To clarify, I'm not even focusing on my Slate account. It has a zero interest period until I believe August of next year. My focus was on the Amazon account I opened almost exactly one year ago. No late payments, plenty of money put through it, zero recognition by Chase. Then I call to ask what I can do to earn better terms (something that should stand out as a positive to Chase), and I'm met with "it's random". Horrible policy and horrible answer. Maybe a few years down the line I'll apply for a new account, but I just cannot support a company that won't adjust to my improving credit situation.

 

 


@dapps06,

 

Nobody is making excuses for Chase. Let me ask you a question, you created a thread a few days ago asking if you can have 2 Chase Amazon cards.  It came down to the fact that you couldn't have it.  I know this is a different topic but if Chase allowed you to have 2 cards of the same products will their policies disgust you now?

 

Policies are policies and Chase is not going to change it for 1 customer or a few.  They cater to millions of people and if you are not happy with their offering you are welcome to take your business elsewhere.  

 

I have been a Chase customer and will I also like a lower rate, absolutely.  But I have long come to understand there are certain battles you just can't win and it is up to you to take your business else.  If Chase is not working for you then close it and go elsewhere.

 

 

Message 21 of 24
NRB525
Super Contributor

Re: CLI with Chase with a SP only

For what it's worth, Chase WILL adjust their credit handling for a given cardholder.

 

As part of the Credit Bubble leading up to the 2008 financial crisis, Chase absorbed several CCC, including a couple of mine. I had large open balances and Citi, Chase and BofA did CLD on my accounts. Chase tried to accelerate terms on a particular group of low APR Forever cardholders and ran into a class action lawsuit, so they backed off and only raised the minimum payment to 5% per month. Some other cards of mine they closed. I ended up with an open Freedom card with 13.24% (no change to APR) and a $1,500 CL (CLD from $3,500) and a card converted into Slate with $11k and managing another Forever offer of 4.99%.

 

So, you see, Chase does watch your account and will make adjustments, only it's more of a noose rather than an expansion Smiley Happy This is why it pays to approach the Chase bear very carefully, make sure your credit profile is as good as it can be, app for only cards you really can use, and watch the number of Chase cards (relative to other lenders) that you go for.

 

Again, you don't have to agree with Chase's policies, but you do need to realize they have those policies and act accordingly, act carefully.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 22 of 24
Sharingan
Established Contributor

Re: CLI with Chase with a SP only


@dapps06 wrote:

That kind of business practice should disgust literally everyone. If more people did what I'm about to do, closed their accounts, guess what? Chase would abandon this practice in no time at all. As long as they have people making excuses for them they'll continue to act in this manner. I didn't have A lender treat me favorably, I've had every single lender I've dealt with treat me favorably and reward my credit resurgence. THIS is the standard practice, to reward your customers if they show financial responsibility. Chase appears to only be interested in credit if it's inadequate enough to qualify for favorable, from their position, terms. That's not how the credit game is designed, it completely defeats the purpose of the entire system.


Oh dear, where to begin... 

 

First of all, you are taking this way too personally. Chase is a business. I'm going to go out on a limb by assuming that you know the true reason most businesses exist. Hint, it's not to play quid-pro-quo with customers or to reward good/responsible behavior. The latter is what parents do. Business decisions are made by companies everyday that are unpopular with customers, and they fully expect some to be dissatisfied. I'm not sure when this self-entitlement developed, but you are going to be very disappointed in many more situations in life if you can't let trivial matters like this go.

 

That being said, the cards I have with Chase would be some of the last that I cancel, and I'm a very satisfied customer of theirs. Most of my Chase cards don't even have a range of possible APRs. I assure you, you are not going to hear of very many people outside of credit card forums complaining about Chase's policy on this matter because it's quite negligible.

 

As you obtain cards from other lenders, you will find out that this "practice" is quite common in the industry. You are asking for more credit, so they could absolutely justify placing a HP on your credit report. There is no requirement for any bank to SP for credit limit increases or to "grow" their cardholders. You are also free to open a bank with the highest of moral standards and start lending your own money without such controls in place.



Message 23 of 24
ojefferyo
Valued Contributor

Re: CLI with Chase with a SP only

I don't feel that Chase is being the big bad bully you are making them out to be. They continue to give me new cards and I can attest that they do give out auto CLI because I have recieved them. I also run almost $10k through that card in any given month and I pay in full. If they see that you need more credit they will give it to you, that has been my personal experience. 

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Message 24 of 24
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