Chase cut limits (again) FIXED BY CSP

[swpopham]

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@09Lexie wrote:
+2

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

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Me either... That goes to show that CPC or any of the other prestigus crap they push and sell dosen't mean anything. Ill give him till tomorrow otherwise ill PIF and move on if they chase me to 0 ill make it fast and painless for them. It feels good not to be dependent on one company for credit

[09Lexie]

I find it interesting that they didn't touch any of your JPM Cc's.

[swpopham]

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@09Lexie wrote:
I find it interesting that they didn't touch any of your JPM Cc's.

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the only thing in common on the ones they cut were the ones my wife was joint owner on... Im wondering if they noticed she wasnt working anymore and with the house off of her credit no real active credit? when we paid off our house we decieded she didnt need to work anylonger. 

[swpopham]

oh lexie btw, i missed my monthly amex app for the last few months, been busy so friday after not hearing back from chase I remembered it was time to go for the BCP.. its still pending!!! 

[09Lexie]

Has Chase been SP'ing you or your wife?

[navyox]

Even if the OP changed his spending pattern this is total BS.    When you give someone a CL, you either trust them with or you shouldn't extend it to them.   Really dishonest on the part of Chase IMHO.

  You are very credit worthy, here's a $60k limit.

  Awesome, thanks!   I'm going to buy some stuff I need for $40k.

  What are you doing!?!?  I'm lowering your limit without warning.

[09Lexie]

That may be true but the wife's income is no longer available. Is it fair for a lender to reassess their exposure given that information.

Then again we are not sure Chase is aware of the reduction in income.

[navigatethis12]

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@navyox wrote:

Even if the OP changed his spending pattern this is total BS.    When you give someone a CL, you either trust them with or you shouldn't extend it to them.   Really dishonest on the part of Chase IMHO.

  You are very credit worthy, here's a $60k limit.

  Awesome, thanks!   I'm going to buy some stuff I need for $40k.

  What are you doing!?!?  I'm lowering your limit without warning.

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I believe they said they were revolving the balance; that's when it becomes a problem.

[FinStar]

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@navyox wrote:

Even if the OP changed his spending pattern this is total BS.    When you give someone a CL, you either trust them with or you shouldn't extend it to them.   Really dishonest on the part of Chase IMHO.

  You are very credit worthy, here's a $60k limit.

  Awesome, thanks!   I'm going to buy some stuff I need for $40k.

  What are you doing!?!?  I'm lowering your limit without warning.

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How about providing a better "picture" of the individual's entire situation, then your illustrated reactions would apply.  What wasn't shared up until recently, were some of the recent changes/revolving balance information (and other items) with either the OPs recent situation which may have had some indirect effect from the joint account-holder perspective as well.  Of noteworthy, we are only able to discern some limited data points from the OPs post.

The lender would have the true picture of the entire situation, and depending on the OP's next steps, this may hopefully get resolved in a satisfactory manner.  Bottom line, lenders also need to manage risk - this comes not only from a shareholder perspective but also from a regulatory aspect.

While you may "view" such move as dishonest, at the end of the day, it's purely business.

[FinStar]

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@09Lexie wrote:
That may be true but the wife's income is no longer available. Is it fair for a lender to reassess their exposure given that information.

Then again we are not sure Chase is aware of the reduction in income.

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+1

Exactly.  Too many variables at play.