chase credit limit decrease

[s_rob7488]

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.

[thelethargicage]

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@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.

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What's your utilization on your other cards?

[KIPPIE12]

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.

[09Lexie]

+1. Hopefully you can turn it around

[red259]

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

[s_rob7488]

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...

[myjourney]

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@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...

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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

[CreditScholar]

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.

[SnackTrader]

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?

[b_seeker]

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.)