Chase balance chasing...

[j_casteel]

Off topic though,

I've actually been thinking about cutting some cards recently...perhaps I could start with Chase. I like the perks of the CSP and Marriott and have a ton of points i need to use. Maybe I'll use my points for a trip with the wife, pay the cards off, and close them.

[Anonymous]

I wouldn't be opening and closing Chase cards if I adds you...

[Revelate]

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@j_casteel wrote:

Off topic though,

I've actually been thinking about cutting some cards recently...perhaps I could start with Chase. I like the perks of the CSP and Marriott and have a ton of points i need to use. Maybe I'll use my points for a trip with the wife, pay the cards off, and close them.

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I'm confused, if you like the perks and use the cards from your points statement, why get rid of them?  Sound like pretty optimal cards for you?

Useful cards > non-useful cards, and I view perks / rewards > limits by a large margin personally, though admittedly many people here don't agree with me on that one.  

Anyway if you're going to cut cards look at ones that never see the light of day first.  I don't know your spend but between your registration date and the patterns on this forum and card lineup in sig, I suspect there's better ones to be axing .

New policy is simply making it more challenging to get approved for future Chase cards which appears to be specifically targetted to a certain class of consumer credit behavior, it's not something to be rushing out and closing your cards over.

[j_casteel]

You're right, I should definitely put more thought into it and not just axe cards just to axe them. I don't have nearly the amount of cards as others on here, and have worked hard to get back up to a place to be where I can get the cards I want. Maybe I'll just reassess my future goals and go from there. I do notice though, I'm not using my cards near as much as I use to. Nearly all are SD'd currently.


I wouldn't be opening/closing Chase cards...I've had the cards for over a year. I'm not sure what you're talking about.

[Revelate]

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@j_casteel wrote:
You're right, I should definitely put more thought into it and not just axe cards just to axe them. I don't have nearly the amount of cards as others on here, and have worked hard to get back up to a place to be where I can get the cards I want. Maybe I'll just reassess my future goals and go from there. I do notice though, I'm not using my cards near as much as I use to. Nearly all are SD'd currently.


I wouldn't be opening/closing Chase cards...I've had the cards for over a year. I'm not sure what you're talking about.

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Well I didn't read your post fully, didn't realize you were the OP.  Sowwy!

Keep the cards as long as they let you in my opinion, and I'd certainly be following up with Chase re: balance chasing.  That said, getting through the current issue and then re-evaluating is absolutely a good path on this one imo.

[Jerry45]

Chase has been hardcore lately. walking on Eggshells

[Anonymous]

Sorry OP! I didn't see your post with your chase cards and balances. I thought you were talking about opening up new chase cards for points and closing them! They will probably be quick to reinstate your limits you pay the cards off.

[Anonymous]

Closed mine last year, best move I could of made.

[Existentialist]

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@j_casteel wrote:

Just got some letters from Chase for my 3 CC's and they have lowered the limits on each of them leaving me just over $300 available credit on them. I don't have very large balances, and haven't used them very much at all recently, but always pay and never late. I have had the cards for over a year now, and haven't app'd for anything else in nearly a year. They stated too many accounts with balances accrued too quickly....I guess I'm not suppose to take advantage of 0% promos on my other cards without giving Chase notification. Full disclosure: I setup auto payments to pay the minimum payment and usually pay more, but the past few months I have been busy with family stuff, and just been letting the minimum payment be made. Do you think that scared them?

thanks,

j_casteel

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@Anonymous. Talked about this previously. Card issuers commonly engage in this sort of practice - even more so today than days past. In fact accounts are being closed, limits lowered (and other AA tactics) even when consumers hav unblemished credit and years worth of otherwise positive relationship with lenders. We are all being scrutinzed much more in unexpected ways - not just individually but collectively and many hav suffered AA simply as a result of being in the wrong place @ the wrong time. Its harsh and unfair and its the world we live in. Which is why I find myself constantly amused by those who state they luv their ccc as I can asure U... the feeling is far from mutual.

[taxi818]

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@chalupaman wrote:

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@j_casteel wrote:

Just got some letters from Chase for my 3 CC's and they have lowered the limits on each of them leaving me just over $300 available credit on them. I don't have very large balances, and haven't used them very much at all recently, but always pay and never late. I have had the cards for over a year now, and haven't app'd for anything else in nearly a year. They stated too many accounts with balances accrued too quickly....I guess I'm not suppose to take advantage of 0% promos on my other cards without giving Chase notification. Full disclosure: I setup auto payments to pay the minimum payment and usually pay more, but the past few months I have been busy with family stuff, and just been letting the minimum payment be made. Do you think that scared them?

thanks,

j_casteel

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Perhaps it was the minimum payment part that spooked them and not paying more than that for the past few months. That's the main thing I'm seeing here. You might want to call them up and explain what's been going on to see if they can try to restore your old limits.

As a general rule, it's always best to pay more than the minimums with any of these cards and if you can, in full would be optimum. Amex especially doesn't like it when people just make the minimum payments on their cards.

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+1 will say that is what did it.EDIT = but after reading further into your comments. you said your overall; is 30%. that is pretty significant as well. not the actual percent but total money amount. just from your signature suggest. that the 30% is over 30k depending on income that could have easily spooked them with the minimum payments. looks like if you made 1 big payment on each they would be more than likely to restore you limits. as ive seen it done with a significant payment before. especially since you said you actually liked their cards. Good luck in anycase.