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Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

[ Edited ]

Well, I finally made the "cut" with Chase.

 

Cut from $3500 to $1000, cash allowable of $700 to $200.

 

So I guess Chase didn't care for my past 6 months of new account activity.  LOL.

 

I'm gonna call tomorrow and talk to them about it and insist they reinstate or close.  I really don't care about this account.  Discover just gave me a CLI to $4k, so it is a nice replacement to this card.  It isn't worth paying $39 AF on the Plus card when I only have $1000 CL now.  Before $3500 was enough that I was able to make up to $200 per month in rewards (including bonus retail rewards).

 

So I think this card and my old CapOne are gonna go this month...both have a $1k CL now and apparently no future.

 

:smileyhappy:

 

Actually, now that I think of it, since I plan to axe this account, I think when I call in on Monday I'm gonna have some fun with the CSR by asking for an APR increase and CL decrease.  LOL.

 

 

Message Edited by txjohn on 09-27-2009 05:04 PM

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

Sorry they finally got around to you but with an annual fee who needs it?
Established Contributor
Posts: 742
Registered: ‎12-19-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

[ Edited ]

Hi txjohn,

 

I did what you may be planning to do after my last application spree. I closed a couple CCs with low CLs and high APRs ( compared to my other CCs ). I just had no interest in exercising them anymore as they no longer fit into my current credit needs. That said, I understand why some will keep a CC with a high APR and low CL open if it will affect their AAoA or utilization in some significant way.

 

When I receive my Chase AA I may close it as well.

 

Based on what I have read in your posts, you are the master of your credit, not the CCCs.

 

 

edited for clarity

 

 

Message Edited by plasticman on 09-27-2009 06:09 PM
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down


plasticman wrote:

Hi txjohn,

 

I did what you may be planning to do after my last application spree. I closed a couple CCs with low CLs and high APRs ( compared to my other CCs ). I just had no interest in exercising them anymore as they no longer fit into my current credit needs. That said, I understand why some will keep a CC with a high APR and low CL open if it will affect their AAoA or utilization in some significant way.

 

When I receive my Chase AA I may close it as well.

 

Based on what I have read in your posts, you are the master of your credit, not the CCCs.

 

 

edited for clarity

 

 

Message Edited by plasticman on 09-27-2009 06:09 PM

 

Yeah, at this point I feel that these small CL's are counter productive.  If they were store cards, maybe.  But having a major card that has gone down in CL or not grown and is 10 to 25 times lower than other CL's isn't helping.

 

It took higher CL's to get higher CL's.  Also, I don't really want a card I can't count on or use without it exhibiting bipolar symptoms.  Either they issue me credit or they don't.  I'm not interested in credit that isn't really for use.  And this was the reason I diversified and expanded to multiple CCC's and mostly CU's.  I haven't heard of CU's CLD or AA except for reasons that would expect AA.  Banks on the other hand are a bit jumpy these days.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
Posts: 742
Registered: ‎12-19-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

[ Edited ]

txjohn wrote:

plasticman wrote:

Hi txjohn,

 

I did what you may be planning to do after my last application spree. I closed a couple CCs with low CLs and high APRs ( compared to my other CCs ). I just had no interest in exercising them anymore as they no longer fit into my current credit needs. That said, I understand why some will keep a CC with a high APR and low CL open if it will affect their AAoA or utilization in some significant way.

 

When I receive my Chase AA I may close it as well.

 

Based on what I have read in your posts, you are the master of your credit, not the CCCs.

 

 

edited for clarity

 

 

Message Edited by plasticman on 09-27-2009 06:09 PM

 

Yeah, at this point I feel that these small CL's are counter productive.  If they were store cards, maybe.  But having a major card that has gone down in CL or not grown and is 10 to 25 times lower than other CL's isn't helping.

 

It took higher CL's to get higher CL's.  Also, I don't really want a card I can't count on or use without it exhibiting bipolar symptoms.  Either they issue me credit or they don't.  I'm not interested in credit that isn't really for use.  And this was the reason I diversified and expanded to multiple CCC's and mostly CU's.  I haven't heard of CU's CLD or AA except for reasons that would expect AA.  Banks on the other hand are a bit jumpy these days.

 

 


 I, for one, understood these reasons of yours when you started you application spree. It was for similar reasons I did the same although not to the greater extent. As you are aware, now you control your CC CL portfolio to a much finer degree than before your recent approvals. You have worked hard to get there, and this is now your reward, to pick and choose what CC issuers you want to do business with.:smileyhappy:

 

Closing a couple of the cards you mention will make your financial life somewhat simpler, IMHO.:smileywink:

 

 

ETA: Best wishes with your new CC portfolio such that they will work well for you.

 

 

 

 

Message Edited by plasticman on 09-28-2009 12:26 AM
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

So I called Chase at the number directed by the Backdoor CSR and got the scoop.  As I suspected, Chase didn't like my slew of recent accounts.  She rattled off the list of CCC names and said "these concern us, so we adjusted your CL proportionately."

 

I told her I understood that initial concern, but wondered why they might not seek some additional input, such as HHI and other factors that might be relevent.  She didn't really respond to that, just sticking to the "concerned" over the amount of recent new accounts.

 

Oh well, as they say, on to bigger and better.  LOL.  I will miss the Freedom Plus rewards.  I made more on those than any of my other reward cards.

 

:smileyhappy:

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

no CLD or other AA on my one chase cc yet.  if it is the only chase product you have i'd SD rather than close.  imo maintaining diversity trumps low CL issues which, with all your other high limit cards, is a marginal concern at best.  even high achievers often have one or two 'open' clunkers on record w/o consequence.

 

in six months once they see how you've handled your new accts they'll likely offer healthy CLI and i'd bet you'll scarcely even remember this AA.  unless you simply do not want the acct any more regardless of future prospects or you don't care that things will likely turn around for you for the better on this acct. in short order:  re-open.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Frequent Contributor
TangMeister
Posts: 456
Registered: ‎07-09-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down


txjohn wrote:

So I called Chase at the number directed by the Backdoor CSR and got the scoop.  As I suspected, Chase didn't like my slew of recent accounts.  She rattled off the list of CCC names and said "these concern us, so we adjusted your CL proportionately."

 

I told her I understood that initial concern, but wondered why they might not seek some additional input, such as HHI and other factors that might be relevent.  She didn't really respond to that, just sticking to the "concerned" over the amount of recent new accounts.

 

Oh well, as they say, on to bigger and better.  LOL.  I will miss the Freedom Plus rewards.  I made more on those than any of my other reward cards.

 

:smileyhappy:

 

 


The robotic CSRs are clueless to answer original questioning that require thought.  Glad you closed it.  There is a certain joy and comfort in having lots of options via multiple credit relationships.  It's nice to be able to shrug your shoulders at something like this with them and say "No problem, I have plenty of other great options.  Close it, please."....and move on.  

 

I kicked Chase to the curb years ago, and I closed my Wamu card as soon as Chase took over officially and cut off the free bank-enhanced FICO score.  If BoA had bought them or Citi, I might have reconsidered and kept it open.  When they asked me why I was closing and to reconsider, I told them about the FICO score cancellation, with an "I don't need you" thrown in for good measure.  It felt awfully good.  :smileyvery-happy:   As one online friend often points out, Chase is the devil.  

Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down


TangMeister wrote:


txjohn wrote:

So I called Chase at the number directed by the Backdoor CSR and got the scoop.  As I suspected, Chase didn't like my slew of recent accounts.  She rattled off the list of CCC names and said "these concern us, so we adjusted your CL proportionately."

 

I told her I understood that initial concern, but wondered why they might not seek some additional input, such as HHI and other factors that might be relevent.  She didn't really respond to that, just sticking to the "concerned" over the amount of recent new accounts.

 

Oh well, as they say, on to bigger and better.  LOL.  I will miss the Freedom Plus rewards.  I made more on those than any of my other reward cards.

 

:smileyhappy:

 

 


...I kicked Chase to the curb years ago, and I closed my Wamu card as soon as Chase took over officially and cut off the free bank-enhanced FICO score.  If BoA had bought them or Citi, I might have reconsidered and kept it open.  When they asked me why I was closing and to reconsider, I told them about the FICO score cancellation, with an "I don't need you" thrown in for good measure.  It felt awfully good.  :smileyvery-happy:   As one online friend often points out, Chase is the devil.  


i hear ya, i find more utility in making it a point to try to be in neutral mode (feelings whether good or bad don't play a decisive role) when it comes to deciding how to most efficiently respond to AA. 

 

having my feelings significantly impacted by such business decisions- the ccc or my own, have proven not to be a good use of my time and energy, YMMV.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
Posts: 742
Registered: ‎12-19-2008

Re: My 1st CLD: Chase (former WAMU) finally gave me the ole thumbs down

[ Edited ]

score_building wrote:

TangMeister wrote:


txjohn wrote:

So I called Chase at the number directed by the Backdoor CSR and got the scoop.  As I suspected, Chase didn't like my slew of recent accounts.  She rattled off the list of CCC names and said "these concern us, so we adjusted your CL proportionately."

 

I told her I understood that initial concern, but wondered why they might not seek some additional input, such as HHI and other factors that might be relevent.  She didn't really respond to that, just sticking to the "concerned" over the amount of recent new accounts.

 

Oh well, as they say, on to bigger and better.  LOL.  I will miss the Freedom Plus rewards.  I made more on those than any of my other reward cards.

 

:smileyhappy:

 

 


...I kicked Chase to the curb years ago, and I closed my Wamu card as soon as Chase took over officially and cut off the free bank-enhanced FICO score.  If BoA had bought them or Citi, I might have reconsidered and kept it open.  When they asked me why I was closing and to reconsider, I told them about the FICO score cancellation, with an "I don't need you" thrown in for good measure.  It felt awfully good.  :smileyvery-happy:   As one online friend often points out, Chase is the devil.  


i hear ya, i find more utility in making it a point to try to be in neutral mode (feelings whether good or bad don't play a decisive role) when it comes to deciding how to most efficiently respond to AA. 

 

having my feelings significantly impacted by such business decisions- the ccc or my own, have proven not to be a good use of my time and energy, YMMV.


+1

 

Whether in my personal or business financial life I could not agree more. If feelings affect my financial decision making it is typically for self indulgent purposes only ( not to be advised, IMO ).

 

 edited for clarity

Message Edited by plasticman on 09-28-2009 12:19 PM

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