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chase credit limit decrease

Blogger

Re: chase credit limit decrease

You do have many sizable balances. I would prepare an explanation for those balances before calling in.

Message 11 of 130
Established Contributor

Re: chase credit limit decrease

The OP said his CSP was CLD'ed to $4.5K, does that mean it'll be downgraded to a regular CS?


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

Take the myFICO Fitness Challenge
Message 12 of 130
Established 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.


How long have you had the Chase accounts? Looks like Chase is going to balance chase you.

100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Message 13 of 130
Super Contributor

Re: chase credit limit decrease


CashOnDelivery wrote:

The OP said his CSP was CLD'ed to $4.5K, does that mean it'll be downgraded to a regular CS?


That was my first thought and that would be messed up.

;
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
Message 14 of 130
Blogger

Re: chase credit limit decrease


CashOnDelivery wrote:

The OP said his CSP was CLD'ed to $4.5K, does that mean it'll be downgraded to a regular CS?


No. Why did you think that? 

Message 15 of 130
Regular Contributor

Re: chase credit limit decrease

Csp since april 12 free since july 12 but was a swrr prior that was from april 12 also. Im in over my head. I was doing extremely well score wise and bal/util wise. Now, not so good. Need the cards paid off and to remain in the safe. I've been in this situation before and told myself I'd never go back. I guess plan is to start with smallest balance and pay off and progressively get to largest. Is it stupid to dip into my 401k for quick cash?
Message 16 of 130
Regular Contributor

Re: chase credit limit decrease

I did just call csp customer service number lady said I could call back Monday and see if they can reinstate the CL's. Should I look into BT to get balances to as few cards as possible?
Message 17 of 130
Established Contributor

Re: chase credit limit decrease


HiLine wrote:

CashOnDelivery wrote:

The OP said his CSP was CLD'ed to $4.5K, does that mean it'll be downgraded to a regular CS?


No. Why did you think that? 


Mimimum line for CSP is $5k and OP was CLD'ed to $4.5K. This is a unique situation and it also poses a good question regarding it.


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

Take the myFICO Fitness Challenge
Message 18 of 130
Epic Contributor

Re: chase credit limit decrease


s_rob7488 wrote:
I did just call csp customer service number lady said I could call back Monday and see if they can reinstate the CL's. Should I look into BT to get balances to as few cards as possible?

yes... USAA, bank of America

Message 19 of 130
Super Contributor

Re: chase credit limit decrease


s_rob7488 wrote:
Csp since april 12 free since july 12 but was a swrr prior that was from april 12 also. Im in over my head. I was doing extremely well score wise and bal/util wise. Now, not so good. Need the cards paid off and to remain in the safe. I've been in this situation before and told myself I'd never go back. I guess plan is to start with smallest balance and pay off and progressively get to largest. Is it stupid to dip into my 401k for quick cash?

If I were you and this is just an attempt to help 

Stop using your cards for now.

Weigh your options for BT's 

Pay whatever you can off

I have to ask as to get myself and others the info to help you so please excuse my probing... Have you been moving the balances around via BT's?

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?
Message 20 of 130