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Chase cut limits (again) FIXED BY CSP

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enharu
Super Contributor

Re: Chase cut limits (again)

Are you still working with the EO office? Have you tried talking to an analyst yet? Is your private banker doing anything to help?

Something in your profile spooked them, and its possible that it may be a false alarm. There's always going to be some unintended collateral damage in any risk assessment algorithm (such as Citi and Amex AA practices).

I understand you may want to move your business away, but it's probably better to address the root of this issue. Could your wife's spending on your card been the problem?
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 11 of 121
L-TWT
Established Contributor

Re: Chase cut limits (again)

One thing we must all realize, banks are not to be trusted. They do whatever they want regardless of one's history with them.

But is sounds like they took a page from Amex around the time of the credit crisis, were they would slash CL just shy of one's balance


Message 12 of 121
navyox
Regular Contributor

Re: Chase cut limits (again)


@L-TWT wrote:

One thing we must all realize, banks are not to be trusted. They do whatever they want regardless of one's history with them.

But is sounds like they took a page from Amex around the time of the credit crisis, were they would slash CL just shy of one's balance


+1 especially true of the big dogs.



Starting Score: 676 CK 5/13. Current: 717 EX 6/15 -- Last App: 6/2014
Message 13 of 121
swpopham
Established Contributor

Re: Chase cut limits (again)

the house reported paid off on july 1st we put 50-60k on cards and have been sending 5-8k a month on the cards. We quit using them that way they would pay down and started puting all of our charges on the amex prg card that way it wouldnt affect our utilazation rates. Yes I will still call the Ex office again tomorrow. Guess im just dissapointed and feel let down, I expect this out of amex would have never guessed that with chase, we made it (well thought we did) through the credit crunch unaffected till now.. 

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 14 of 121
FinStar
Moderator Emeritus

Re: Chase cut limits (again)


@swpopham wrote:

the house reported paid off on july 1st we put 50-60k on cards and have been sending 5-8k a month on the cards. We quit using them that way they would pay down and started puting all of our charges on the amex prg card that way it wouldnt affect our utilazation rates. Yes I will still call the Ex office again tomorrow. Guess im just dissapointed and feel let down, I expect this out of amex would have never guessed that with chase, we made it (well thought we did) through the credit crunch unaffected till now.. 


Was this a normal pattern (from a revolving balance perspective) from previous spend on the cards?

Message 15 of 121
enharu
Super Contributor

Re: Chase cut limits (again)

+1 to what finstar said. Putting that much on a card and not paying it off may have been the trigger, especially if this is not part of your normal spending habits.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 16 of 121
swpopham
Established Contributor

Re: Chase cut limits (again)

it was WAY out of normal, I even called and told them, hey guys were building a new jeep were gonna have a big balance till around Nov. No problem, thanks for letting us know! 

 

that was pretty much how the phone call went, 

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 17 of 121
cashnocredit
Valued Contributor

Re: Chase cut limits (again)

Interesting. I've long thought that having a record of PIF then suddenly carrying a balance would be a large red flag.  I know it would be in my case since I'm retired. However, if you have a private banker that usually indicates significant investment accounts and one would think they would check that before AA.  OTOH, in my experience banks have essentially no automatic access to that side of your information.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 18 of 121
FinStar
Moderator Emeritus

Re: Chase cut limits (again)


@cashnocredit wrote:

Interesting. I've long thought that having a record of PIF then suddenly carrying a balance would be a large red flag.  I know it would be in my case since I'm retired. However, if you have a private banker that usually indicates significant investment accounts and one would think they would check that before AA.  OTOH, in my experience banks have essentially no automatic access to that side of your information.


+1

 

Hopefully, the EO channel may be able to sort it out with intervention from the PRR group.  Of course, depending on any diminshed liquidity in your relationship ot CPC portfolio and any recent changes in your spending/revolving balance picture can be explained satisfactorily to restore your original CLs.

Message 19 of 121
09Lexie
Moderator Emerita

Re: Chase cut limits (again)

+2

With this being the second time it happening , I'm not big on coincidences.
Message 20 of 121
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