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Dawn
Posts: 557
Registered: ‎10-07-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



psychic wrote:
The next time I'm on the phone with a Chase rep, I'll ask about "credit limit blocks." 

I would be interested in hearing their explanation of what they had to do "procedure wise" to prevent your card from converting to the Signature card.  If it isn't the same thing they did for me, I may be making another call.
 
My understanding of a credit limit block is that it simply prevents you from being able to make purchases that take you over your credit limit.  The transaction would be declined, as I thought all CCCs did in the "old days" before they got so "fee hungry."
 
I would like to think that they have other options to prevent automatic conversions of Platinum cards to World or Signature cards, though.  Some people may appreciate the "courtesy" they extend you of being able to charge beyond the limit ... as long as you don't mind paying the over-limit fee and possibly being a victim of rate-jacking.
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Dawn
Posts: 557
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



krystofur wrote:
That was the idea behind coverting my Chase Card to a Freedom Card, so DW and I could do the same thing.  Of course we still haven't sat down and figured out which card to use where, but it's on my to do list. :smileyhappy:

I thought we were going to do that with our two cards (I am joint on DH's card and have another of my own.)  However, this juggling stuff with multiple cards is more work that I care to go through.  I use mine for a while ... then switch to his for awhile. 
 
I"m beginning to think that simplicity rules!  :smileyvery-happy:
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psychic
Posts: 1,518
Registered: ‎04-20-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



Dawn wrote:


psychic wrote:
The next time I'm on the phone with a Chase rep, I'll ask about "credit limit blocks." 

I would be interested in hearing their explanation of what they had to do "procedure wise" to prevent your card from converting to the Signature card.  If it isn't the same thing they did for me, I may be making another call.
 
My understanding of a credit limit block is that it simply prevents you from being able to make purchases that take you over your credit limit.  The transaction would be declined, as I thought all CCCs did in the "old days" before they got so "fee hungry."
 
I would like to think that they have other options to prevent automatic conversions of Platinum cards to World or Signature cards, though.  Some people may appreciate the "courtesy" they extend you of being able to charge beyond the limit ... as long as you don't mind paying the over-limit fee and possibly being a victim of rate-jacking.


My Freedom card has a $29,300 credit limit, so I doubt that Chase is planning on giving me an automatic credit line increase.   I'm also going to be asking about reallocating credit lines between my 2 cards.  I'll make it a point to find out exactly what procedure was used when I declined my Freedom Signature upgrade. 
EQ 814 / TU 815 / EX 842
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krystofur
Posts: 387
Registered: ‎08-10-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



Dawn wrote:


krystofur wrote:
That was the idea behind coverting my Chase Card to a Freedom Card, so DW and I could do the same thing.  Of course we still haven't sat down and figured out which card to use where, but it's on my to do list. :smileyhappy:

I thought we were going to do that with our two cards (I am joint on DH's card and have another of my own.)  However, this juggling stuff with multiple cards is more work that I care to go through.  I use mine for a while ... then switch to his for awhile. 
 
I"m beginning to think that simplicity rules!  :smileyvery-happy:


Yeah, DW is always picking on me asking which card she can use now, am I sure it's the right one... :smileyhappy: 
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psychic
Posts: 1,518
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

[ Edited ]
***Chase is also upgrading some Free Cash Rewards cards to Signature cards***
 
My mother received a letter from Chase today regarding her Free Cash Rewards Visa card.  It read:
"...effective Free Cash Rewards your Chase July 9, 2008 Visa card (sic) will be upgraded to include Visa Signature benefits."
 
I'm curious to see if I receive a similar letter (or one worded correctly), given I also have a Chase Free Cash Rewards card, but declined the Freedom Signature upgrade. 


Message Edited by psychic on 05-30-2008 02:22 PM
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Dawn
Posts: 557
Registered: ‎10-07-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

I wonder how we get it through to the "higher ups" at Chase and the other CCCs (or VISA and MC) that these cards are not being reported properly and are frequently wreaking havoc on customers' FICO scores?
 
And ... what is the great advantage to Chase in upgrading all these cards?  There is no over-limit fee with them and the excess balance has to be PIF, so they shouldn't be benefitting from finance charges on the overages.  Maybe they hope that if you HAVE to pay the overages in full, that you will carry the rest of your balance longer?
 
Oh ... I did check the spelling of that one questionable word and Merriam-Webster online says it can be either way, so I left it alone.  :smileywink:
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maestro
Posts: 48
Registered: ‎10-28-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

I do not think it is a matter of being reported incorrectly. 
 
Their policy seems to be that they report their 'Signature' cards that have no preset spending limit as an open line of credit with no credit limit reported.
 
If you want a credit limit reported for your revolving utility then definitely stay away from their 'Signature' products.  
 
 
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psychic
Posts: 1,518
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!

[ Edited ]


Dawn wrote:
 
Oh ... I did check the spelling of that one questionable word and Merriam-Webster online says it can be either way, so I left it alone.  :smileywink:


The letter should read "...effective July 9, 2008 your Chase Free Cash Rewards card...," not "effective Chase Free Cash Rewards, your July 9, 2008 Visa card...."
 
I moved the (sic) notation in my original post to clarify.


Message Edited by psychic on 05-30-2008 02:57 PM
EQ 814 / TU 815 / EX 842
Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007
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Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



Dawn wrote:


psychic wrote:
The next time I'm on the phone with a Chase rep, I'll ask about "credit limit blocks." 

I would be interested in hearing their explanation of what they had to do "procedure wise" to prevent your card from converting to the Signature card.  If it isn't the same thing they did for me, I may be making another call.
 
My understanding of a credit limit block is that it simply prevents you from being able to make purchases that take you over your credit limit.  The transaction would be declined, as I thought all CCCs did in the "old days" before they got so "fee hungry."
 
I would like to think that they have other options to prevent automatic conversions of Platinum cards to World or Signature cards, though.  Some people may appreciate the "courtesy" they extend you of being able to charge beyond the limit ... as long as you don't mind paying the over-limit fee and possibly being a victim of rate-jacking.


If I receive a similar upgrade letter regarding my Free Cash Rewards card, I'll be calling Chase within the next few days!!! 
EQ 814 / TU 815 / EX 842
Established Contributor
Dawn
Posts: 557
Registered: ‎10-07-2007
0

Re: Chase wanted to automatically upgrade my card to the dreaded Freedom Visa Signature card!!!



psychic wrote:


Dawn wrote:
 
Oh ... I did check the spelling of that one questionable word and Merriam-Webster online says it can be either way, so I left it alone.  :smileywink:


The letter should read "...effective July 9, 2008 your Chase Free Cash Rewards card...," not "effective Chase Free Cash Rewards, your July 9, 2008 Visa card...."
 
I moved the (sic) notation in my original post to clarify.
Sorry to confuse things Psychic.  I was referring to my use of "benefitting" vs "benefiting." 
 
The letter you referenced from Chase was truly "strange."  :smileywink:

 

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