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Chase got me too!!!!

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Anonymous
Not applicable

Re: Chase got me too!!!!


@dizbuster wrote:
I have learned to take all this credit stuff in stride. I've been through credit purgatory (maybe still their) so none of this stuff affects me much. I keep thinking back to when I filled BK and had to watch as some stranger came and drove away my truck and camp trailer. That was the worst. So if Chase wants to close a $500 card, so be it. My life has other more pressing concerns, so if they want me to worry about it they will have to get at the back of the line.

 

LOL....good attitude to have.  Do what you can, recognize what you can't, realize worry doesn't help anything but high blood pressure medication sales.

 

 

Message 11 of 22
Anonymous
Not applicable

Re: Chase got me too!!!!

I'm still waiting for my DHs to go although it was an ex Circuit City card that they replaced with a Chase Freedom.

 

His did have a $800 balance on a $1020 limit, I paid that down to $0 just before the swap and have started using the card as an everyday one with the balance being PIF each month (just as it is basically the only reward card we have) I am not sure if it is a good idea or not but i guess we'll find out in the next couple of months

Message 12 of 22
creditwherecreditisdue
Senior Contributor

Re: Chase got me too!!!!


@Anonymous wrote:

I'm still waiting for my DHs to go although it was an ex Circuit City card that they replaced with a Chase Freedom.

 

His did have a $800 balance on a $1020 limit, I paid that down to $0 just before the swap and have started using the card as an everyday one with the balance being PIF each month (just as it is basically the only reward card we have) I am not sure if it is a good idea or not but i guess we'll find out in the next couple of months


I suspect you will be fine. Be glad you're not a Providian -> WaMu -> Chase refugee. Not having been originally approved by Chase seems to make you lower that low. txjohn is in a modestly better position that I am - he is at 29.99% and converted - I am at 31.99% and not converted. We both PIF. Hopefully at some point we will be allowed to sit at the grown up table. There is no reason why we shouldn't be there now.

Message 13 of 22
Anonymous
Not applicable

Re: Chase got me too!!!!

I see on my CR that when they updated( 7/22/2009)the card was close. I just logged into the website and both cards r still open. I got a letter saying that my EX score was to low but it's been a while since I check and  when I did it was over 700. I understand why they wouldn't want my business b/c i used my card once per Month to make 1 small purchase but why would they get rid of customers that's using there cards a lot and paying way more than the minimum.
Message 14 of 22
creditwherecreditisdue
Senior Contributor

Re: Chase got me too!!!!


@Anonymous wrote:
I see on my CR that when they updated( 7/22/2009)the card was close. I just logged into the website and both cards r still open. I got a letter saying that my EX score was to low but it's been a while since I check and  when I did it was over 700. I understand why they wouldn't want my business b/c i used my card once per Month to make 1 small purchase but why would they get rid of customers that's using there cards a lot and paying way more than the minimum.

Once again: It is impossible to tell from the website if your account is open or closed! You must either call, try to use it or I, suppose, wait for it to report.

Message 15 of 22
haulingthescoreup
Moderator Emerita

Re: Chase got me too!!!!

You know, this is what makes me crazy about all this. Why can consumers not find out that they've been chopped? It's not on their online site, they don't find it out by calling the automated line; they have to get declined in public, or get curious and call for themselves.

I acknowledge that banks can run the credit bidness pretty much any way they want to. If they want to pretend that they are going broke, despite the TARP money, etc., and rate-jack and CLD, well, that's kinda the way that CC's work.

But all my banks have my e-mail address. I don't have any paper statements, period, and they know that my e-mail address works.

To me, it is indefensible that an automatic e-mail alert isn't sent out when an account is closed or reduced. It would take a couple of lines of code to make this happen. It's equally indefensible that they don't update their website. My Borders Visa is being converted to a Freedom (believe me, I'm not griping!), but there is absolutely no indication of this anywhere on my online site. But if I call, they most certainly know all the details. I would have lost the puny rewards that I had accumulated had I not read a post about this and called.

There are still naive folks in the world who carry only one credit card. What if they go on their annual two-week vacation with a dud card, with no way of knowing this?

This is not a bottom-line issue; this is an issue of you shouldn't treat fellow human beings like this. If you don't want someone as a customer, fine; but have the class and the human decency to let them know that it's happening. Would they really be OK with being on the receiving end of this kind of treatement?

Do these people not have to look at themselves in the bathroom mirror every morning when they shave and put on their makeup? --lol, OK, presumably these are different Chase employees. Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 16 of 22
creditwherecreditisdue
Senior Contributor

Re: Chase got me too!!!!

When the deck is so heavily stacked in your favor you don't have to care about your customer, let alone your former customer. They do it because they can. They have run the numbers and it is cheaper for them to act this way. Since when did a money center bank's concerns run beyond their bottom line?
Message 17 of 22
Anonymous
Not applicable

Re: Chase got me too!!!!


@creditwherecreditisdue wrote:

@Anonymous wrote:
I see on my CR that when they updated( 7/22/2009)the card was close. I just logged into the website and both cards r still open. I got a letter saying that my EX score was to low but it's been a while since I check and  when I did it was over 700. I understand why they wouldn't want my business b/c i used my card once per Month to make 1 small purchase but why would they get rid of customers that's using there cards a lot and paying way more than the minimum.

Once again: It is impossible to tell from the website if your account is open or closed! You must either call, try to use it or I, suppose, wait for it to report.


I understand that! I was making a point that my card was close on the 22nd r earlier and it's still showing as open on the site.

Message 18 of 22
haulingthescoreup
Moderator Emerita

Re: Chase got me too!!!!


creditwherecreditisdue wrote:

When the deck is so heavily stacked in your favor you don't have to care about your customer, let alone your former customer. They do it because they can. They have run the numbers and it is cheaper for them to act this way. Since when did a money center bank's concerns run beyond their bottom line?

I'm absolutely not disagreeing, but ahhhhh, but a money center is staffed by human beings. At what point in the orientation session are they instructed to leave behind all the rules of human behavior that they were taught along the way? I don't know about you, but I was dragged kicking and screaming to Sunday School and Girl Scouts and all the other venues that all came down to teaching the Golden Rule: do unto others as you would have them do unto you.

I weary of the line about "that's just the way it is." All these banks are staffed by everyday schmucks like you and me. We're all going home at the end of the day, pulling our mail out of the mailbox, and seeing what some entity has decided to do to us.

In the end, we can all choose whether to cave and go along, or to take a stand. Scary choice, of course.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 19 of 22
Anonymous
Not applicable

Re: Chase got me too!!!!

It's not just that a money center bank can do what they want, it's also a case of desperation and pressure being major factors. BOA doesn't CLD 10% at a time, they CLD 50%. Citi doesn't increase the APR by 1% or 2%, they ratejack by 5% or 10%. Chase doesn't bump the minimum payment on for-life BTs from 2% to 2.5% or 3%, they do one big jump to 5%. Stockholders and the balance sheet dictate that changes happen NOW, nobody has the patience for incremental change spread over a reasonable timeframe, and the banks know they have leverage. If their numbers tell them that 90% will pay or BT away or opt-out (all of which is fine for the bank), and only 10% will go delinquent or default, they see no advantage to being reasonable or sugar-coating their adverse action ...
Message 20 of 22
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