Re: Chase CC Credit Limit Slashed
12-10-2009 08:09 PM
We live in stressful times. I had a Chase card with a $33,400 CL. I had taken out a $20,000 BT a few years ago at a very low rate and was paying it back at $500/mo. When it was paid off in August 2009 they cut the CL to $8,300, a reduction of 75%. Their reasoning was I didn't need that much credit. I have plenty of other credit and I was never going to use Chase much in the future, so I wasn't going to commit hari-kari over it. You can try to recon with them to see if they will change their minds. Otherwise, you'll have to acquire credit elsewhere if you need it.