Screw CHASE!!!!

[logowatches]

Lynette I live In Northeast Boston Area You could have something there but I still think it's WA-MU Customers. Just Got With Credit Unions two Cars One 10K one 15K so something is up with Chase. Good Luck

[Anonymous]

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@LynetteM wrote:

My $15k Chase card is a former Providian then WaMu then Chase. To this day they haven't cut me.

I keep waiting. I assume they will. But it hasn't happened yet.

We have no other banking relationships with them. I charge a $9.95 book club shipment to it each month. That's all the usage it gets because it has zero rewards. In the fall we actually replaced the credit line with a new Discover and PenFed. That way we figured we'd come out even if the Chase was closed or cut. (Back then they were closing without notice.) So, we replaced the credit line with other cards, but nothing happened.

I keep wondering when the cut will come, but I often wonder if it has to do with geography. We are in the midwest and are said to be in an area known for low risk. I wonder if where you live has to do with whether or not you are cut???

Just pondering...

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I live in the midwest AND have a banking relationship with Chase as a previous posted mentioned. I have managed to avoid adverse action, but am always afraid to say it cuz you just never know.  Maybe there is a correlation between geograpy and banking relationship. Maybe others can/should  post their information so we can see if there is a possible or noticable trend.

[kittygal]

Just received notification by snail mail that my ex-WAMU MasterCard is being "upgraded" to a Chase Slate card.  The letter states that this action is being taken because I am a "valued Chase checking customer and enrolled in AutoPay from your checking account" and "automatically qualify for a Chase Exclusives benefit".

Not sure how "exclusive" I feel, but perhaps having the checking account and AutoPay will keep me from receiving any AA from Chase for the time being.  My CL remains at $1500 and the APR remains at 13.24.  Doesn't matter to me what the APR is as I PIF monthly through AutoPay.  

Geographically, I reside in CA.   

Any similar findings from other WAMU folk?

[Anonymous]

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@kittygal wrote:

Just received notification by snail mail that my ex-WAMU MasterCard is being "upgraded" to a Chase Slate card.  The letter states that this action is being taken because I am a "valued Chase checking customer and enrolled in AutoPay from your checking account" and "automatically qualify for a Chase Exclusives benefit".

Not sure how "exclusive" I feel, but perhaps having the checking account and AutoPay will keep me from receiving any AA from Chase for the time being.  My CL remains at $1500 and the APR remains at 13.24.  Doesn't matter to me what the APR is as I PIF monthly through AutoPay.  

Geographically, I reside in CA.   

Any similar findings from other WAMU folk?

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What is the expiration date of your current card? 

[kittygal]

The expiration on my card isn't until 5/11.  I continue to use the WAMU branded card and it will be replaced in 5/11 with the Slate card.

One thing I forgot to mention earlier was that I also "qualify" for the added benefit of getting my 12th month interest back after making twelve consecutive autopay payments.  Since I PIF, I don't accrue interest so that added benefit has no meaning for me -- might be important for anyone carrying a balance.

I have had only good experiences with my Chase accounts and hope that that continues.

[Anonymous]

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@mekmek86 wrote:

Personally I don't see a problem with it either, why on earth do people need multiple cards with tens of thousands of dollars in limits.

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Are you serious?  It's called debt to available credit ratio.  Increasing your amount of available credit, while keeping your debt low, from a lenders perespective, puts you in a "lower risk category", thus leading to lower interest rate options when applying for a loan.

If a person has 1 credit card, with an available credit limit of $5000 and that person has a balance of $2500, that's 50% utilization.  If the lender decreases this same person's available credit to $2500, this person's utilization is at 100%, which looks terrible to a lender from their perspective.

From a consumer's standpoint, credit cards with high limits are there for "last resort" emergencies. 

[Itsmeagain]

+1

[logowatches]

You are right high limits are most peoples life line of last resort.

[Anonymous]

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@kittygal wrote:

The expiration on my card isn't until 5/11.  I continue to use the WAMU branded card and it will be replaced in 5/11 with the Slate card.

One thing I forgot to mention earlier was that I also "qualify" for the added benefit of getting my 12th month interest back after making twelve consecutive autopay payments.  Since I PIF, I don't accrue interest so that added benefit has no meaning for me -- might be important for anyone carrying a balance.

I have had only good experiences with my Chase accounts and hope that that continues.

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Thanks for your response. I also see you have a MC and not a VISA (in addition to auto pay).  I wonder if the product change is based on the card type. Others who have received the email have not indicated if they have a Chase MC or VISA. My card expires 11/11. No news is good news as far as I am concerned

[Anonymous]

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@logowatches wrote:

You are right high limits are most peoples life line of last resort.

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Why is that?  Is it detrimental?  I have some high limits and a score around 800.  Just curious if it is a self restaint issue or something in the scoring.