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psychic
Posts: 1,518
Registered: ‎04-20-2007

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



FaircreditguyFL wrote:
I actually like the fact it doesn't report my limit... and it hasn't hampered my FICO as it reports as an "open" account. If you need a card for utilization, apply for another card(s). The perks of the signature card should not be discounted.

Message Edited by FaircreditguyFL on 05-31-2008 02:44 PM

You're right!  These cards can benefit certain people. 
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psychic
Posts: 1,518
Registered: ‎04-20-2007

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

[ Edited ]


krystofur wrote:

I also wanted to point out that my DW's Chase Freedom signature card reported correctly, as an open account with no preset spending limit.  It was not included in her revolving utility calculation, as it was not supposed to.  I had her change the card to a non-signature card because we wanted to take advantage of the CL, not because it wasn't reporting correctly.  And I know she was in the vast minority of Chase card holders who had the card report correctly, but it should be said that "most" of these cards don't report correctly.


Hi krystofur!
 
This is just like old times here!!!  You, Dawn, bunnyrabbit, masdeocho and I are all back together again discussing the Chase Freedom card! 
 
I was wondering if Chase planned to raise cardholders' APRs after they automatically upgraded their cards to Signature/World status?  Remember when you converted you wife's card to the Freedom Signature, and her APR increased?  I still have my 5.49% Variable on my Freedom card.  Would Chase ever permit an account holder to have a 5.49% APR on a Signature card?


Message Edited by psychic on 05-31-2008 05:17 PM
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haulingthescoreup
Posts: 28,115
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Re: Chase wanted to automatically upgrade my card to dreaded Freedom Visa Signature card!!!

Maybe that's why they're pushing these--it's an opportunity to raise APR's.

I'm not (usually) a cynic, but I'm a realist, and I've been trying to figure what's in it for them.
* 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
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psychic
Posts: 1,518
Registered: ‎04-20-2007

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



haulingthescoreup wrote:
Maybe that's why they're pushing these--it's an opportunity to raise APR's.

I'm not (usually) a cynic, but I'm a realist, and I've been trying to figure what's in it for them.

I've been thinking about this for a few days.  It does seem like a valid excuse to raise APRs. 
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krystofur
Posts: 387
Registered: ‎08-10-2007

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



psychic wrote:
Right now, I could apply for a no pre-set spending limit card as an additional card, and it wouldn't hurt me.  What would hurt me is having scores in the 800s and obtaining new credit. 


Don't I know it.  My scores weren't  has high as yours, and I have utility issues, but I've felt that sting.
 
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krystofur
Posts: 387
Registered: ‎08-10-2007

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



psychic wrote:


krystofur wrote:

I also wanted to point out that my DW's Chase Freedom signature card reported correctly, as an open account with no preset spending limit.  It was not included in her revolving utility calculation, as it was not supposed to.  I had her change the card to a non-signature card because we wanted to take advantage of the CL, not because it wasn't reporting correctly.  And I know she was in the vast minority of Chase card holders who had the card report correctly, but it should be said that "most" of these cards don't report correctly.


Hi krystofur!
 
This is just like old times here!!!  You, Dawn, bunnyrabbit, masdeocho and I are all back together again discussing the Chase Freedom card! 
 
I was wondering if Chase planned to raise cardholders' APRs after they automatically upgraded their cards to Signature/World status?  Remember when you converted you wife's card to the Freedom Signature, and her APR increased?  I still have my 5.49% Variable on my Freedom card.  Would Chase ever permit an account holder to have a 5.49% APR on a Signature card?


Message Edited by psychic on 05-31-2008 05:17 PM

Yeah, whatever else you can say about the Freedom Card, it's good for a few pages now and then :smileyhappy:
 
I remember the APR increase of course.  I guess I shouldn't have been surprised that when she converted back, the APR stayed the same.  I haven't asked for a lower one yet, should have, just haven't gotten around to it yet, it's still our highest APR.
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psychic
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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 called Chase today.  The CSR told me that they did place a "credit limit block" on my Freedom account to prevent the Signature card conversion.  He assured me that the credit limit block would not prevent me from receiving future automatic credit line increases.
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cheddar
Posts: 6,794
Registered: ‎09-29-2007

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



psychic wrote:
 
I called Chase today.  The CSR told me that they did place a "credit limit block" on my Freedom account to prevent the Signature card conversion.  He assured me that the credit limit block would not prevent me from receiving future automatic credit line increases.


Very odd name for a mechanism that doesn't block automatic CLIs.
 
Perhaps it's a "block" in the sense that your CL will actually be enforced if you try to exceed it, unlike the way it works with the Signature version, where you can exceed it without penalty.
 
Speculation here.
 
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psychic
Posts: 1,518
Registered: ‎04-20-2007

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

The next time I call Chase, I'll ask about it again.  Chase CSRs have a history of conflicting responses!
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

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

A credit UN-limit block!
* 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

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