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Yikes! A letter from Chase on my freedom acct

Established Contributor

Re: A letter from Chase on my freedom acct


ptr2593 wrote:

OnTheRebound wrote:

No conversion here....yet, on our Freedom Visa ($11014.00 CL)



11014?  How long has it been >$10k?


Yes, it has always been an odd CL from the beginning about 11 years ago. This is a former Providian/WAMU Visa. About six months ago it had a $8014.00 CL.

I closed a WAMU/Chase Visa that had a $3.5K CL and transfered $3K (that is all they would transfer) to the Freedom.

Amex BCE $11.1 / Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / AU- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / GE Lowes $10K
myFico Scores on 10/03/2014
Eq 798 / Exp 811 / Trans 814
CCT Fico 08 on 1/3/16 - Trans 786 / Exp 793 / Eq 797
Message 11 of 23
Valued Contributor

Re: A letter from Chase on my freedom acct

BR,

 

having a card convert to a world mc or visa signature is actually an advantage. any lender that sees you carrying mostly these kind of cards will see you as a better borrower than someone who does not cary these kind of cards. consider this a promotion. unlike a platinum mc or visa which can have a very low credit limit (300 to 500), world mc cards and visa signature cards are required to have a minimum credit limit of 5k. even if the lender cannot view your credit limit, he or she may likely assume that your limit must be around 10 to 15k.

 

consider those who actually do have cards within your limit range. and yet their cards are still not being promoted like yours are. they might have that limit. but because they still dont have a signature or world, unlike you, they wont be able to spend freely beyond their limit like your card. and when they do spend near the limit, they will appear to any lender that they are maxing out their card, you however, BR, wont have to, because now any lender that sees your account, knows that you can be trusted WITHOUT LIMITS.

 

 

 "Morpheus, what are you trying to tell me? That I can dodge bullets? No, Neo. I'm trying to tell you that when you're ready, you won't have to."

Message 12 of 23
Valued Contributor

Re: A letter from Chase on my freedom acct

Thanks scott for cheer me up!

The benefit come with Signature will not be used in any ways ...

  • I don't travel.
  • No need of concierge service.
  • Don't go to the event.
  • No plan on go over the limit of 10.6k nor near to it.

I rather to have more better rewards program to earn and redeem.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 13 of 23
Frequent Contributor

Re: A letter from Chase on my freedom acct


bunnyrabbit wrote:

ptr2593 wrote:

Why did they change it to a Signature?  Can they do this without your request/consent?


Yes they can!  

They did to my Freedom MC first to World MC , then now on my Freedom Visa.  

I have one more cc with them, which is non-rewards card used to be Wa-Mu Platinum with small CL of 4k since transferred 2k to freedom Visa a few months a go.


+1

 

Thats what happened to my BOA Visa.  They upgraded me to a Signature which down-graded my util. Smiley Mad

 

It took me some time to figure out why, too.  It was before I found myFICO and this fount of information. Smiley Very Happy

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Message 14 of 23
New Visitor

Re: A letter from Chase on my freedom acct

The same thing happened to my BOA Visa...the credit limit was $20k before they changed it.  Like bunnyrabbit, I received that same letter yesterday notifying me that they were going to change my Chase Freedom (currently $15k limit) to add the Visa Signature features.  The letter said that I can opt out if I call them, so I'm trying to figure out if I really want my utilization to take the hit. Smiley Indifferent

Message 15 of 23
Valued Member

Re: Yikes! A letter from Chase on my freedom acct

A few years ago, I had a similiar situation happen with Citibank. It was a mastercard with $56,600 CL and they sent me without asking an Amex type version- do not remember what it was, and said that it was a good thing- it would have unlimited credit and better rewards ...I just simply called them and explained that I did not want to change my card. I did not want the Amex- already had one- and needed a mastercard as it was my only other card, and that not everyone accepts  Amex. They changed me to a Diamond preferred mastercard instead and kept the same cl.

I would just call them and explain that you do not want the promotion Smiley Happy

"Those who danced were thought to be quite insane by those who could not hear the music" Angela Monet
Message 16 of 23
Valued Contributor

Re: Yikes! A letter from Chase on my freedom acct

Found these web site for ...

 

Visa Signature ... I didn't know it comes with discount.

http://usa.visa.com/personal/visa-signature/benefits/index.jsp

Save with Special Offers and Discounts

Visa Signature cardholders value a good deal, which is why your Visa Signature card offers you many great savings opportunities. Browse our collection of discounts and savings that you can use right away.

 

 

World Master

http://www.mastercard.us/credit-card-world.html

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 17 of 23
Valued Contributor

Re: Yikes! A letter from Chase on my freedom acct

So no definitive reason yet for why this has been happening to people?  Has anyone called to refuse the "upgrade'?

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 18 of 23
Moderator Emeritus

Re: Yikes! A letter from Chase on my freedom acct

We received the same offer from Chase on a joint account. My DW understands how these cards work, so she agreed with me to decline the offer. We aren't interested in "playing the game" with another CCC.

Message 19 of 23
Valued Contributor

Re: Yikes! A letter from Chase on my freedom acct

Maybe I should PC my Freedom before this happens to me..

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 20 of 23