wrote:
wrote:Hey guys, I just got this card 2 weeks ago. I've been using it trying to get the signup bonus. I racked up $2,200 out of my $5,000 limit.
Anyway, I tried making a purchase today and it did not go through. I called chase, got redirected to fraud, and then redirected to a fraud supervisor.
Kept asking me if I applied for it, how I applied for it and if I'm the card holder. I went through some security questions then the lady told me to wait for 24-48 hours because the account is under review. Someone will be calling me within that timeframe.
I'm worried they're going to take my card back.
Please help or make me understand whats going on, I've never gone through this with any credit or debit card.
In light of the fact that spending is required for the sign up bonus, this is the most ridiculous adverse action that I've seen in quite a while.
The only reason this fraud review - after only a few grand in obvious SUB spending - makes any sense... is if there was a fraud alert on any of the OP's credit reports, that the bank never considered during account opening. In that case, sure. If there is a fraud alert... might as well do a fraud review. But, short of that... let the man eat and feed his kids, for goodness sake.
Now I remember why this particular issuer has issues. About a decade ago, I attempted to spend approx. $320, at Walmart, on a single electronics item... on one of their cards. The card had a 30k limit to boot. I couldn't get out of the store without ending up switching to another card. Their fraud alerts were shamefully out of control... and apparently still are.
I was just about to apply for one of their premium offerings. I'll think I'll pass on those fees. Thanks for reminding me why sometimes you can only fool someone once.
I'm looking for Service, period. Unfortunately, I've found that undying devotion just doesn't exist... with any of the major issuers. There can be many pros, but always a few huge cons.
You can't trust Amex because they can and will suspend and review high spenders, and regularly. Can't trust Chase because apparently nobody but their $450 paid Reserve customers can trust them either. Can't trust Citi to not close all of anyone's accounts at once. Can't trust Wells because well they do shady stuff to their customers. Can't trust US Bank to not try to spy on it's potential customers. Can't trust BofA to not be shady either. Can't trust Barclays, Discover, Wells Fargo, or US Bank to give anyone a freaking limit that matches the rest of their limits. Can't trust Capital One to actually provide premium customer service on their premium products. Can't trust Synchrony to actually apply a payment on time, on purpose.
Every major issuer has issues. The trick is to just ignore everyone else's "issues" and to just play the game the way it's supposed to be played. Then, you will find that you can get at least a few issuers to treat you good... and maybe even treat you well.
But, you cannot for a second fully rely on any one bank. You always have to hedge with other issuers for their hiccups... because hiccups will be forthcoming.
I'm now solely a free agent in the credit game. I just cannot be tied down any longer. I've tried to put trust in just about every one of the majors. In the end, unless you are paying them more than they're giving you back... they will find a way to let you down, and not even feel the least bit bad about it.
I think the way to "play the game" so to speak is to let them know you have several choices, and they're but one of a few that you can use but also easily ditch on a whim.
Not really related to credit but earlier this year I established a banking relationship with Chase, and now even my direct deposits go there. BoA has essentially become a shell account that I use just for the preferred rewards perks. Well just a few weeks ago I received a targeted offer saying I could earn $200 if I kept $20K in my savings account for 90 days. I'd already planned on doing that anyway to renew the preferred rewards benefits, but this really sweetened the deal since the bonus more than makes up for any lost interest. Then a few days later they sent me two offers related to Merrill Edge.
Interestingly I've been doing this (doing the bare minimum to maintain preferred rewards status) every year since 2015, and only now have I received a targeted offer. Maybe it's coincidence, but I have to wonder if BoA is realizing I'm gradually shifting away from them.
All that being said, BoA has treated me very well so far for the past 5 years, so no complaints on my end.
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I can kind of understand both sides of this, but I'm leaning 90/10 towards the customer. Why would Chase or any bank give someone a $5000 limit and not let them use it? If they didn't like the OP spending $2200, they should have given him less than $2200 on a limit. I get minimizing their risk, but they're the ones who gave him the large limit just a few weeks ago.That's easy to say when its not your money being put at risk. Chase gives 113 days to complete the $4,000 spend for the SUB; there's no reason to spend 45% of the card's limit in the first two weeks of having it. If you're going to be doing heavy spending with a new card its always a good idea to call the issuer and give them a "heads up" so that there wouldn't think there's anything unusual going on. Just like its a good practice to give the issuer notice when you're travelling.
There could be a reason. I have two. I acquired the CSP in December expressly because I knew that I had:
- a whack of travel to purchase in January 2018
- a home addition being built, with a few high ticket items (to be paid for from an already-acquired home equity loan) that could (legitimately) be funnelled through the card
My spend in the first month almost covered the $4K. My spend in the second month will exceed $4K.
Glad you got your card reinstated! I listened to my gut and got with some other lenders that don't go hay wire over small purchases like that. lol
Way to go BAN27914! 
The same happened to me when I was approved for the CSP and Ritz-Carlton. But I never paid them down and just waited for their "account review" to finish. Glad it's behind you now
The same happened to me when I was approved for the CSP and Ritz-Carlton. But I never paid them down and just waited for their "account review" to finish. Glad it's behind you now