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Just logged into my account and saw this:
Slate CLD from 6k to 2.5k
United CLD from 5k to 2.5k
Sapphire preferred CLD from 15k to 10k.
When I figure out whats going on I'll update.
wow, almost cut you available credit to half.
Did you do something recently? Any dramatic differences in your credit profile?
Sorry to hear. First Barclays and now Chase CLD. Like SwiftTone asked, any recent baddie recently popped up? Possibly higher util reporting?
Worst feeling in the world. Hope it can be restored.
That is a real drag - sorry it happened!
Something must have changed or popped up on your reports. I would look in to this as soon as you can!
To cut you in half is not good! Please let us know what you learn.
The rep just told me to wait for a letter - same thing Barclay's told me and a letter never came. I"m pretty busy at work now I'll try a back door # later. The only thing I did that I can think of that would be out of the ordinary was make a $10k charge on my Sapphire for the points; which I paid in full when the statement cut. Looks like balance chasing on the slate, they cut my CL to w/in 400 of my balance. And Chase used to be so nice.
Also pulled all 3 CR's this AM, no dramatic changes.
Lame. Please posted on the contents of the letter.
This kind of stuff is why I don't do business with Chase.
When chase cut my CL from 3600 to 1800, the letter was quite interesting. I had just paid a balance off, and the letter basically said oh we cut your CL because its apparent you didn't need that much. (I have a Slate). This was a transferred Wachovia account...
@lithium78 wrote:This kind of stuff is why I don't do business with Chase.
If CLD's were a reason to not bank with a particular institution, none of us would bank with any.
There are well-documented cases of Discover, BoA, Chase, etc, etc, etc...
It happens everywhere.
Quite frankly, if Chase did it to me, I'd just shrug it off and use another card in heavy rotation (BCE, Discover, BoA). I have options, but to say that I wouldn't bank with someone because of CLD's, well, that means not taking a chance on any of the institutions out there.
Follow my financial journey: http://www.frugalrican.com