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Quite the Chase Surprise . . CLD

Established Contributor

Quite the Chase Surprise . . CLD

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.

 

Smiley Sad Smiley Sad Smiley Sad

 

When I figure out whats going on I'll update.

About $215,000 total credit among 11 cards
Message 1 of 54
53 REPLIES
Valued Contributor

Re: Quite the Chase Surprise . . CLD

wow, almost cut you available credit to half.

 

Did you do something recently? Any dramatic differences in your credit profile?

AMEX: $25,000, CSP: $10,000, Chase Priority Club: $1,500, Freedom: $6000, Discover: $21,000

EQ FICO - 753
TU FICO - 755
EX FICO(AMEX) - 766
Message 2 of 54
Valued Contributor

Re: Quite the Chase Surprise . . CLD

Sorry to hear. First Barclays and now Chase CLD. Like SwiftTone asked, any recent baddie recently popped up? Possibly higher util reporting?

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622
Message 3 of 54
Established Contributor

Re: Quite the Chase Surprise . . CLD

Worst feeling in the world.  Hope it can be restored. Smiley Sad

Message 4 of 54
Valued Contributor

Re: Quite the Chase Surprise . . CLD

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.

Ray

** Every Card has a Job, and Every Card does its Job **
Message 5 of 54
Established Contributor

Re: Quite the Chase Surprise . . CLD

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.

About $215,000 total credit among 11 cards
Message 6 of 54
Valued Contributor

Re: Quite the Chase Surprise . . CLD

Lame. Please posted on the contents of the letter.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 7 of 54
Established Contributor

Re: Quite the Chase Surprise . . CLD

This kind of stuff is why I don't do business with Chase.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Message 8 of 54
Frequent Contributor

Re: Quite the Chase Surprise . . CLD

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...

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
Message 9 of 54
Blogger

Re: Quite the Chase Surprise . . CLD


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


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 10 of 54