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Regular Contributor
Posts: 175
Registered: ‎07-10-2010
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Help! My CL keeps getting lowered

I have a Chase card, and every time I make a significant payment they lower my CL to right above that payment. I have one baddie that Experian refuses to remove, even though the TL has submitted the revision twice and I have disputed it twice, yet Experian still reports it as negative. TU and EQ both removed it when the TL submitted it the first time -- when they happened, both scores jumped up 100 points, so this is a major one.

 

If my goal is keeping my CL, should I:

 

a) Pay off the whole balance at once.

b) Wait until the baddie is gone, then pay off the whole balance at once

c) keep making small payments, in the hope that they will eventually stop lowering it.

d) any other suggestions?

 

Thanks!

Senior Contributor
Posts: 3,662
Registered: ‎01-10-2008
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Re: Help! My CL keeps getting lowered

They are balance chasing and if they are in doing in an effort to close the acct it doesn't really matter how you pay.

 

In any case you should continue to pay large chunks or PIF and work tirelessly on removal of the baddie which appears on EX.  Until it is gone or aged several years, it may continue to cause unecessary alarm.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
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Re: Help! My CL keeps getting lowered

If I can successfully get rid of the baddie, my score will jump up significantly (probably around 100 points, as both EX and TU did). Is there some chance that after that happens, they don't keep balance chasing?

Senior Contributor
Posts: 3,662
Registered: ‎01-10-2008
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Re: Help! My CL keeps getting lowered

[ Edited ]

kal9988 wrote:

If I can successfully get rid of the baddie, my score will jump up significantly (probably around 100 points, as both EX and TU did). Is there some chance that after that happens, they don't keep balance chasing?


If this is the only/primary alarm that is sounding off from your credit bureau reports, a deletion may certainly increase the odds of getting back in their good graces.  I was balanced chased by Amex primarily for carrying balances I think and when I cleared the balances and PIF they stopped chasing and instead of closing gave CLI.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
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Re: Help! My CL keeps getting lowered

Ok cool. How soon after the baddie is removed will Chase know that?

Frequent Contributor
Posts: 267
Registered: ‎07-28-2009
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Re: Help! My CL keeps getting lowered


kal9988 wrote:

Ok cool. How soon after the baddie is removed will Chase know that?


I would say keep working on the baddie and pay at least the minimum or somewaht more soas to not decrease the CL so much and call them once the baddie is resolved and off the reports. That is at least my theory. Don't quit working on the baddie. If it isn't legit, then use every means necessary (including BBB, and your state AG's complaint system).


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Established Contributor
Posts: 536
Registered: ‎03-17-2010
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Re: Help! My CL keeps getting lowered

[ Edited ]

 


kal9988 wrote:

I have a Chase card, and every time I make a significant payment they lower my CL to right above that payment. I have one baddie that Experian refuses to remove, even though the TL has submitted the revision twice and I have disputed it twice, yet Experian still reports it as negative. TU and EQ both removed it when the TL submitted it the first time -- when they happened, both scores jumped up 100 points, so this is a major one.

 

If my goal is keeping my CL, should I:

 

a) Pay off the whole balance at once.

b) Wait until the baddie is gone, then pay off the whole balance at once

c) keep making small payments, in the hope that they will eventually stop lowering it.

d) any other suggestions?

 

Thanks!


 

I wouldn't count on Chase to treat you any better after you got rid of the baddie and/or PIF.............They will keep reducing your CL until you start hearing weird voices coming out of your card "pull up, terrain! Pull up! whoop whoop. Pull up!"

Regular Contributor
Posts: 231
Registered: ‎08-07-2009
0

Re: Help! My CL keeps getting lowered

[ Edited ]

I'm not a fan of Chase, even though I do keep a deposit account w/them, after they sucked up WAMU, not so long ago.

 

Why not give them a call at the executive offices, and see if you can have a little chat with them about their antics.

 

800.242.7399

 

Remember this quote I read the other day...

 

"As soon as you realize the big banks need us more than we need them, the better off we all will be"


-MB-Seattle WA

-800 or Bust...!
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
0

Re: Help! My CL keeps getting lowered

cool, which number is that for?

Regular Contributor
Posts: 231
Registered: ‎08-07-2009
0

Re: Help! My CL keeps getting lowered

 

The executive offices of JP Morgan Chase.
As high as you can go!


kal9988 wrote:

cool, which number is that for?


 

-800 or Bust...!
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