Chase getting more stingy with credit?

[red259]

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@Anonymous wrote:

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@red259 wrote:

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@Anonymous wrote:

Probably you have reached the total exposure that chase allows you to have. You'll have to work on improving your credit to allow chase to give you more credit. 

Another tip: do not close your chase account until you transfer most/all of it's credit limit to another chase card. 

I had closed a card with a 11.7k limit, so that was credit that chase had given me in the past and my credit score and profile is way better than when I got all the credit. If I am at the ceiling they have been lowering it. 

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Did you open any other chase cards in between closing that card and now?

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No.

[Anonymous]

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@red259 wrote:

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@Anonymous wrote:

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@red259 wrote:

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@Anonymous wrote:

Probably you have reached the total exposure that chase allows you to have. You'll have to work on improving your credit to allow chase to give you more credit. 

Another tip: do not close your chase account until you transfer most/all of it's credit limit to another chase card. 

I had closed a card with a 11.7k limit, so that was credit that chase had given me in the past and my credit score and profile is way better than when I got all the credit. If I am at the ceiling they have been lowering it. 

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Did you open any other chase cards in between closing that card and now?

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No.

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I see, thought you might have as you opened the post with "The past two cards I have opened have led to chase pulling credit off other chase cards to give me the new credit line." 

Anyways, it is widely known that they stand by a certain % of income for their total exposure but in your case they have either:

a. lowered that %

b. taken other accounts you have into consideration if you did open any other cards

c. become stingy (which might be the case if the recent 'spike' of account review/close posts are not the routine but the exception here)

[Anonymous]

That sucks.  If you think about it, you took two HPs for an increase before, so hypothetically, cant you request a chase card <6 mos be reopened, and then, reallocate the limit all but $500 and close it again?

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Chase

Chase allows you to reopen a card soon after it was closed, even if it was closed on purpose, and certainly if there was a miscommunication.

Most people are told that it can be reinstated for 30-days, but others were told it’s possible to reopen a card for up to 6 months (1). One person had success getting their Chase cards reinstated almost a year after they were shut down; their account number remained the same, and no hard pull was done.

Note that if you transferred over your credit line to a different card when closing, you won’t be able to get the old account reinstated. Worth leaving $500 credit line if there’s a chance you’ll want to reopen later."

http://www.doctorofcredit.com/card-issuers-will-reopen-closed-credit-card/#Chase

For factual data points, they are all over the place. They just approved my relative TWO ink business preferred cards with matching 10k limits (will be curious to see what happens when its bonus time for card 2, its a longshot)

And even more recently they approved a friend with a strong profile the CSP, then for 10x less limit on a CF....you tell me...

[red259]

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@Anonymous wrote:

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@red259 wrote:

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@Anonymous wrote:

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@red259 wrote:

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@Anonymous wrote:

Probably you have reached the total exposure that chase allows you to have. You'll have to work on improving your credit to allow chase to give you more credit. 

Another tip: do not close your chase account until you transfer most/all of it's credit limit to another chase card. 

I had closed a card with a 11.7k limit, so that was credit that chase had given me in the past and my credit score and profile is way better than when I got all the credit. If I am at the ceiling they have been lowering it. 

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Did you open any other chase cards in between closing that card and now?

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No.

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I see, thought you might have as you opened the post with "The past two cards I have opened have led to chase pulling credit off other chase cards to give me the new credit line." 

Anyways, it is widely known that they stand by a certain % of income for their total exposure but in your case they have either:

a. lowered that %

b. taken other accounts you have into consideration if you did open any other cards

c. become stingy (which might be the case if the recent 'spike' of account review/close posts are not the routine but the exception here)

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I did open another chase card recently (about 2 1/2 months ago) but I closed the 11.7k card after I had opened that card. 

[steel_string]

People over at FT seem to recommend having CL reduced before applying for a new card from Chase in order to get instant approvals. The limit seems to be available in a day or two, so that shouldn't be your problem. It looks like they've reduced the maximum total limit they're willing to give you, but I couldn't guess why.

[red259]

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@steel_string wrote:

People over at FT seem to recommend having CL reduced before applying for a new card from Chase in order to get instant approvals. The limit seems to be available in a day or two, so that shouldn't be your problem. It looks like they've reduced the maximum total limit they're willing to give you, but I couldn't guess why.

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Dunno, nothing in my profile is weaker than when I got the limits. I suspect that when you close a card that credit does not get freed up for a period of time. 

[UncleB]

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@Anonymous wrote:

That sucks.  If you think about it, you took two HPs for an increase before, so hypothetically, cant you request a chase card <6 mos be reopened, and then, reallocate the limit all but $500 and close it again?

"

Chase

Chase allows you to reopen a card soon after it was closed, even if it was closed on purpose, and certainly if there was a miscommunication.

Most people are told that it can be reinstated for 30-days, but others were told it’s possible to reopen a card for up to 6 months (1). One person had success getting their Chase cards reinstated almost a year after they were shut down; their account number remained the same, and no hard pull was done.

Note that if you transferred over your credit line to a different card when closing, you won’t be able to get the old account reinstated. Worth leaving $500 credit line if there’s a chance you’ll want to reopen later."

http://www.doctorofcredit.com/card-issuers-will-reopen-closed-credit-card/#Chase

For factual data points, they are all over the place. They just approved my relative TWO ink business preferred cards with matching 10k limits (will be curious to see what happens when its bonus time for card 2, its a longshot)

And even more recently they approved a friend with a strong profile the CSP, then for 10x less limit on a CF....you tell me...

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Your last data point closely resembles my situation... I was approved in September for the IHG MasterCard at the lowest APR and $9k CL (it did go to review; which was expected since I had an old WaMu charge-off).

Then a few months later in January they insta-approved (!) me for the Amazon Visa, also at the lowest APR but with a $500 CL.  Granted, I was 'spreeing' at the time but other than a few HPs nothing was showing up yet.  I'm holding off on reallocating any of the limit from the mostly-useless IHG to see if by some miracle the Amazon might get an auto-CLI in the coming months.  (Ironically, at the time I felt that had my app gone to review rather than been insta-approved I probably would have done better... go figure.)

I know my data-point was a little before the latest action, but I found it slightly odd even then.  I'm firmly in the garden for a while (there's nothing left that I want) but if/when I ever app for another Chase card I have no idea what to expect.

[Revelate]

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@sarge12 wrote:

No matter what it is, it looks like it might be a good time to fly under the radar, and try not to be noticed. For me personally, since I never carry a balance, there is not really much they could do that would really hurt me. I still plan to hang out in the garden a while as my 16 cards are more than enough to meet my needs.

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Heh I've always subscribed to the needle-in-a-haystack theory when dealing with lenders.  Outliers get whacked by algorithms, that's just the way they're designed.  I'm not the consumer you're looking for.

Then again I don't play hard with lenders, though I likely have enough tradelines now that they'd look skeptically at it but I'm sitting on my hands too currently, though not cause I'm skeered of Chase or BOFA in this case.   Possible mortgage or similar, priorities .  Course if I up and move to a different country I get to do all this credit building thing all over again, bleh.

[Anonymous]

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@red259 wrote:

The past two cards I have opened have led to chase pulling credit off other chase cards to give me the new credit line. This just happened with my new hyatt card which kind of took me by suprise. They took 5k off my CS and used that to open the new hyatt card. What bothers me is a few months ago I closed a hyatt card with 11.7k of credit and apparently none of that was considered when opening this new card. My profile is way stronger than it was when I got all this credit to begin with. Is it a situation where credit from closing cards does not become available for new products for like six months the way it is with citi?

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I actually kinda like it.

Leads to less recon calls when I actually have a snowball's chance in hell of an approval (Card not 5/24)