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Regular Contributor
Posts: 104
Registered: ‎04-30-2008
0

The inevitable has happened grrr

Thankfully I've only had one CCC credit line decrease me (juniper), but now Chase has done it to me.  I've been paying off the balance I have with them, currently $4000, that had a line of $700, but now that the balance has been paid below $4000 (currently $3900), they lowered the line to $4300!  Ouch!!

 

Chase initially changed my APR from 8.99%F to 15.99%V and I cannot wait until this balance is paid off.  With a credit score of over 700 this is extremely frustrating, but I guess I have to just keep chipping away and finally get this balance paid off!


Starting Score: 703
Current Score: 7/8/10: TU - 738 EQ - 750
Previous Score: 1/22/10: TU - 703 EQ - 714
Goal Score: 750


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Frequent Contributor
StartinOver
Posts: 262
Registered: ‎09-08-2007
0

Re: The inevitable has happened grrr

Did you have a typo? Did you mean you had a line of $7000 that got lowered to $4300?

4/25/11 FICO: EQ 761....EX 770.....TU 744
3/6/2011 FICO: EQ 710... EX 718... TU 710
09/09 FICO: EQ: 525
Regular Contributor
Posts: 104
Registered: ‎04-30-2008
0

Re: The inevitable has happened grrr

Yes I did - Sorry about that!  It went from $7,000 to $4,300.


Starting Score: 703
Current Score: 7/8/10: TU - 738 EQ - 750
Previous Score: 1/22/10: TU - 703 EQ - 714
Goal Score: 750


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Valued Contributor
Jazzzy
Posts: 2,679
Registered: ‎07-29-2009
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Re: The inevitable has happened grrr

Chase is famous for this....and for decreasing credit lines even when folks have no balance.

 

It's a sign of the times. Sorry this happened to you.

Senior Contributor
score_building
Posts: 3,532
Registered: ‎01-10-2008
0

Re: The inevitable has happened grrr

 


LynetteM wrote:

Chase is famous for this....and for decreasing credit lines even when folks have no balance.

 

It's a sign of the times. Sorry this happened to you.


 

+1

 

and credit score doesn't prevent CLD but carrying balances can be a lure, good luck with the pay down and BT if you can to a lower rate.

 

It is not safe to carry balances with major banks that can't be paid down summarily IMO, do you have CU?

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Regular Contributor
Nonaii
Posts: 246
Registered: ‎06-02-2008
0

Re: The inevitable has happened grrr

 


tianapb725 wrote:

  With a credit score of over 700 this is extremely frustrating, but I guess I have to just keep chipping away and finally get this balance paid off!


700 is the new 600.  I'm sorry Chase screwed you.

 

Regular Contributor
Posts: 104
Registered: ‎04-30-2008
0

Re: The inevitable has happened grrr

Yes, I do belong to a credit union, but I don't want to open up any new credit lines.  I just want to get all of these balances paid off so I no longer have to worry about what my credit line is and what APR they'd like to charge me!


Starting Score: 703
Current Score: 7/8/10: TU - 738 EQ - 750
Previous Score: 1/22/10: TU - 703 EQ - 714
Goal Score: 750


Take the FICO Fitness Challenge
Senior Contributor
score_building
Posts: 3,532
Registered: ‎01-10-2008
0

Re: The inevitable has happened grrr

 


tianapb725 wrote:

Yes, I do belong to a credit union, but I don't want to open up any new credit lines.  I just want to get all of these balances paid off so I no longer have to worry about what my credit line is and what APR they'd like to charge me!


So long as you are aware that it will take you less time and cost you less if you diversify and get your feet untangled from high regular interest rates with big banks.

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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