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HiLine
Posts: 3,085
Registered: ‎10-19-2012
0

Re: chase credit limit decrease

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

Established Contributor
CashOnDelivery
Posts: 502
Registered: ‎04-17-2013
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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

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Established Contributor
calihlove75
Posts: 791
Registered: ‎05-16-2012
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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 762, TU 767, EQ 762 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-1/1~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $9500~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $16,100~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050
Valued Contributor
red259
Posts: 2,096
Registered: ‎06-05-2013
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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 730 6/27/14
Goal Score: 800 In garden until 1/2015
Blogger
HiLine
Posts: 3,085
Registered: ‎10-19-2012
0

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? 

Regular Contributor
s_rob7488
Posts: 159
Registered: ‎03-25-2012
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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?
Regular Contributor
s_rob7488
Posts: 159
Registered: ‎03-25-2012
0

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?
Established Contributor
CashOnDelivery
Posts: 502
Registered: ‎04-17-2013
0

Re: chase credit limit decrease

[ Edited ]

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

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Epic Contributor
Creditaddict
Posts: 21,603
Registered: ‎10-23-2007
0

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

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
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Senior Contributor
myjourney
Posts: 26,656
Registered: ‎02-07-2013
0

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?

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13



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