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Chase balance chasing...

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Anonymous
Not applicable

Re: Chase balance chasing...


@j_casteel wrote:

What is Chase's new policy?

 

I haven't gotten on myfico or even accessed my accounts in several months. They were setup for autopay a long time ago so I know they're getting paid and the cards are SD'd.

 

Overall utilization is ~30%

 

Chase utilization:

 

Freedom 1000/3000

CSP 2000/5000

Marriott 2300/5000

 

I guess my Chase utilization is higher than ideal, but hell I use my cards and pay them. Just the past several months haven't paid extra on them.


Ah. I think that explains the balance chasing, unfortunately. 30% utliization isn't normally a dealbreaker, but according to your signature, you have almost $120,000 in credit. 30% utilization puts you at about $35,000 in credit card debt. This fact -- combined with the minimum/close to minimum payments -- would flag you as being a potential financial risk in their systems. 

Message 21 of 27
Anonymous
Not applicable

Re: Chase balance chasing...


@CH-7-Mission-Accomplished wrote:

@CH-7-Mission-Accomplished wrote:

I am on Chase's blacklist (probably forever) for including about 60K with them in my BK7.  I was really heartsick about being locked out of there, but now I'm thinking if I had to really piss off one prime lender, maybe Chase was best.

 

They are always coming up with new policies and actions that are upsetting to consumers.  I serously do not know what is wrong with sending a customer a letter that says something like we are concerned that your balances are growing on your credit cards and if you don't reduce those balances and stop running them up, we will cut your limits or shut you down.  No, they would rather give you a nice surprise when you are on vacation in Asia with only their cards in your wallet.


I even remember reading a thread on Credit Boards where somebody had all of their accounts shut down with Chase -- credit cards, bank accounts, etc., all at once, and they had not one single negative experiece with Chase -- ever.  Turns out Chase is now digging through ancient public records and data and this person had like a 20-year-old felony charge for running a little marijuana grow operation in their late teens or early 20s.  I mean we are talking like 5 plants.  Chase is now wanting to make sure they do not do business with felons so they are using the huge treasure trove of data out there to more carefully hone their client list.  This is not data from any credit reporting agency.

 

I think Chase is totally creepy.

 


This is their norm.  My daughter had a Chase Freedom and had her cl auto increased to 12k.  She never really used the account much and she found out the lowered her cl to 2k and it's been that way since.  We're talking 7 yrs now.

Message 22 of 27
Bman70
Established Contributor

Re: Chase balance chasing...


@Anonymous wrote:

@j_casteel wrote:

What is Chase's new policy?

 

I haven't gotten on myfico or even accessed my accounts in several months. They were setup for autopay a long time ago so I know they're getting paid and the cards are SD'd.

 

Overall utilization is ~30%

 

Chase utilization:

 

Freedom 1000/3000

CSP 2000/5000

Marriott 2300/5000

 

I guess my Chase utilization is higher than ideal, but hell I use my cards and pay them. Just the past several months haven't paid extra on them.


Ah. I think that explains the balance chasing, unfortunately. 30% utliization isn't normally a dealbreaker, but according to your signature, you have almost $120,000 in credit. 30% utilization puts you at about $35,000 in credit card debt. This fact -- combined with the minimum/close to minimum payments -- would flag you as being a potential financial risk in their systems. 


Wow I missed this, good eye people who figured the dollar amount of that utilization. Chase is definitely pulling out of exposure based on a potential debt problem situation. $35k in revolving debt is huge, unless that's a normal figure regularly ran up and paid off. It's different if it had collateral, like a car loan. But unsecured $35k, then minimum payments, has got to trigger some "this could default" warning. 

I'm not judging OP's financial behavior, I have no idea of their means or plans. I'm just more relieved that this isn't some case of out-of-the-blue AA by Chase. Which is what I was worried it might be. (I'm planning on apping for a Chase card.) 


EX 822
TU 834
EQ 820


Message 23 of 27
j_casteel
Valued Contributor

Re: Chase balance chasing...

Thanks for the info everyone.

I sent a secured message to Chase and they just replied with a copy/paste of the letter I received in the mail.

I usually keep balances lower and/or pay them off but was using some 0% so thought why not take advantage of that. Guess it backfired since it wasn't my usual behavior. I'm not too worried. I'll just pay them off and request them to be reinstated back to normal and go from there. I may or may not decide to close them, the very least they would be kept in the SD.
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 24 of 27
kdm31091
Super Contributor

Re: Chase balance chasing...


@Bman70 wrote:

@Anonymous wrote:

@j_casteel wrote:

What is Chase's new policy?

 

I haven't gotten on myfico or even accessed my accounts in several months. They were setup for autopay a long time ago so I know they're getting paid and the cards are SD'd.

 

Overall utilization is ~30%

 

Chase utilization:

 

Freedom 1000/3000

CSP 2000/5000

Marriott 2300/5000

 

I guess my Chase utilization is higher than ideal, but hell I use my cards and pay them. Just the past several months haven't paid extra on them.


Ah. I think that explains the balance chasing, unfortunately. 30% utliization isn't normally a dealbreaker, but according to your signature, you have almost $120,000 in credit. 30% utilization puts you at about $35,000 in credit card debt. This fact -- combined with the minimum/close to minimum payments -- would flag you as being a potential financial risk in their systems. 


Wow I missed this, good eye people who figured the dollar amount of that utilization. Chase is definitely pulling out of exposure based on a potential debt problem situation. $35k in revolving debt is huge, unless that's a normal figure regularly ran up and paid off. It's different if it had collateral, like a car loan. But unsecured $35k, then minimum payments, has got to trigger some "this could default" warning. 

I'm not judging OP's financial behavior, I have no idea of their means or plans. I'm just more relieved that this isn't some case of out-of-the-blue AA by Chase. Which is what I was worried it might be. (I'm planning on apping for a Chase card.) 


There is no out of the blue AA. Creditors always have a basis for it. 

Message 25 of 27
red259
Super Contributor

Re: Chase balance chasing...


@j_casteel wrote:
Thanks for the info everyone.

I sent a secured message to Chase and they just replied with a copy/paste of the letter I received in the mail.

I usually keep balances lower and/or pay them off but was using some 0% so thought why not take advantage of that. Guess it backfired since it wasn't my usual behavior. I'm not too worried. I'll just pay them off and request them to be reinstated back to normal and go from there. I may or may not decide to close them, the very least they would be kept in the SD.

I have two cards I am taking advantage of 0% APR right now and everything else is PIF, although I think the outstading balance between the two zero% apr cards is only like 6 or 6k and below 30% util. Plus I tend to pay a cpuple times the minimum each month due to the fact that I am running charges through the cards still and don't want to max them out. I'll be more cognizant of this. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 26 of 27
syeb
Regular Contributor

Re: Chase balance chasing...

 
Message 27 of 27
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