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chase credit limit decrease

Regular Contributor

chase credit limit decrease

Just signed into my chase account online...had 9k csp limit and 8k freedom limit and now both are at 4500????? what gives? I have a balance but I used freedom heavily on a vacation recently. Not sure what I can do to fix this, hopefully something.

129 REPLIES
Valued Contributor

Re: chase credit limit decrease


s_rob7488 wrote:

Just signed into my chase account online...had 9k csp limit and 8k freedom limit and now both are at 4500????? what gives? I have a balance but I used freedom heavily on a vacation recently. Not sure what I can do to fix this, hopefully something.


What's your utilization on your other cards?


Established Contributor

Re: chase credit limit decrease

Sorry to hear that.  Has anything changed recently on your credit reports? Any negative items, high balances on other cards, excessive inquiries, or many new accounts opened?  I would definitely be calling to find out why they made that decision, and recon if possible.  Maybe get the notice first and call.

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
Moderator Emerita

Re: chase credit limit decrease

Super Contributor

Re: chase credit limit decrease

Gah. I hope that doesn't happen to me. Maybe I will pay my balance tonight.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 826 4/16/17, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Regular Contributor

Re: chase credit limit decrease

Here is list of bal/CL per card 

 

bank america $5900/$7500

chase free $4222/??? 

chase sapphire pref $3934/???

citi diamond pref $3254/$6100

citi hilton $1961/$3500

disc more $1779/$4250

amex delta $997/$3400 

best buy $888/$1500

usaa $90/$7000

wf $0/$7100

 

To say the least I am very flustered at the moment...haven't ever had any issues with chase I have carried a balance on the csp since last month was going to BT it to citi diamond pref just to have one or 2 cards reporting higher balance and use my amex delta for normal charges and PIF like I have been. The limit was cut in half on each...

Super Contributor

Re: chase credit limit decrease


s_rob7488 wrote:

Here is list of bal/CL per card 

 

bank america $5900/$7500

chase free $4222/??? 

chase sapphire pref $3934/???

citi diamond pref $3254/$6100

citi hilton $1961/$3500

disc more $1779/$4250

amex delta $997/$3400 

best buy $888/$1500

usaa $90/$7000

wf $0/$7100

 

To say the least I am very flustered at the moment...haven't ever had any issues with chase I have carried a balance on the csp since last month was going to BT it to citi diamond pref just to have one or 2 cards reporting higher balance and use my amex delta for normal charges and PIF like I have been. The limit was cut in half on each...


How long have you had the Chase accounts? Looks like it was time for a review and they saw all the balances you were carrying. IMHO ....my heart is truly sorry

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Highlighted
Valued Contributor

Re: chase credit limit decrease

Given how many balances you're carrying on various cards, you deserved the CLD. You're around 50% util for the majority, so I'm not surprised Chase CLDed you. They're probably nervous looking at your reports, figuring that your probability of paying them all down is fairly low.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Valued Contributor

Re: chase credit limit decrease

I try not to judge people here, since there are many circumstances that lead people to get into credit card debt. But I advise you to take a step back and use this opportunity to realize that you are in debt, and to figure out a plan to get these balances down as fast as possible. Hopefully you have income to make that happen sooner rather than later.

Just look at it this way - you are throwing away tons of money on interest for everything you buy on your credit cards. Is everything you buy worth paying extra for?

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Frequent Contributor

Re: chase credit limit decrease

If you were carrying all those other balances aside from the Freedom and then charged 3-4K without making a large dent in the other cards, you spooked Chase. To a bank that is going to indicate high risk behavior. They likely think you can't handle your finances. I agree with the above post, you should re-evaluate your current situation and start making a significant dent in those cards before other lenders start worrying. (And your 8K-ish CLD will not go unnoticed.)



|| Barclaycard Rewards Visa $5500 || AMEX BCE $2000 || Discover IT $3000 || Amazon Rewards Visa $1800 ||
|| Chase Freedom $2700 || CSP $5000 || Chase Marriott Premier $7500 || Sallie Mae MC $3800 ||

FICO Scores: EX 752 (3/13/13) || EQ 782 (10/4/13) || TU 724 (1/18/13)

In the garden as of 10/12/2013