topic Re: Chase reduced limit in Credit Cards

Chase reduced limit

newstart13 — Sat, 03 Oct 2015 14:24:23 GMT

i have no late payments. My score is the same. I have no late payments on cards I have? Is there a chance they will restore it? Was this computer generated?

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:26:06 GMT

What are your balances? What is your utility? What kind of payments have you been making to Chase and others (minimum?)

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 14:39:59 GMT

I have about 30% utilization on combined limits. Some cars have nothing on them. I had about 25%utilization on chase card. I,generally pay twice minimum payment and always on or before due date.

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:41:31 GMT

Care to share any additional relevant information to offer some contextual advice? Balance, Fico scores, card util%, overall util % etc

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:42:18 GMT

How many of their cards do you have?

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 14:48:14 GMT

The letter the sent said my score was 719. I have applied for interest free card recently. Could that have done it? Should I call?

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:49:32 GMT

When is the last time you used the card? I've had that happen to me before when I didn't use the card for several months.

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:55:42 GMT

@newstart13 wrote:
The letter the sent said my score was 719. I have applied for interest free card recently. Could that have done it? Should I call?

Do you mean you applied for a Chase card (such as Slate)? Sometimes they will reduce the limit on an existing card and apply that to the new one, but that would have been explained. Which letter said 719? If it is a CLD letter did they give no reason?

That said, people here are asking for data, but no-one can tell you as well as Chase, so of course call. They may not give you a good reason ("we reevaluate credit limits regualarly to determine risk" type of thing) but it will be at least as accurate as anyone's guess here.

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 14:56:30 GMT

It's been about three months since I used it. Anyone have luck with recon on this?

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:58:10 GMT

That's a very decent score. What are you other two scores?

How many cards do you have?

What util do you have on them? Are any maxed?

How long have you had the Chase card? How often do you use it?

Any credit card spree lately?

Anything bad come up on your reports?

These are the relevants data points we need to help offer some realistic advice and help you out.

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 14:58:31 GMT

No not a chase card. A card used to make purchase interest free. I will call. I was just curious if it was worth it and if anyone had success reversing this?

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 14:59:38 GMT

Also curious---which Chase card? (one of theirs? co-branded? AF?)

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 15:00:16 GMT

@newstart13 wrote:
i have no late payments. My score is the same. I have no late payments on cards I have? Is there a chance they will restore it? Was this computer generated?

In order to provide any help we need more information. If you don't want to share, it's okay. My advice to you would be to call Chase and ask them why they reduced your CL. Best of luck!

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 15:01:16 GMT

You're being very cryptic re: this new no-interest card. Is it a general well-known card like "I got a new Amex with 0% on purchases and balance transfers for 15 months!" or is it something obscure and/or sub-prime that could have spooked them?

Re: Chase reduced limit

kdm31091 — Sat, 03 Oct 2015 15:03:21 GMT

I think asking us is probably not going to help you with the vague info you are providing.

Just call Chase, ask why this happened, and see if it can be reversed. If it cannot right now, ask what steps you can take.

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 15:16:59 GMT

I certainly don't want to be vague but recently had fraud activity and somewhat Leary about giving info. It was a Barclay card for Apple purchase.. I've had card a year. A do have retail cards as well. Nothing is maxed. Nothing even at 50% usage. But I do like to get cards with rewards. I have a weakness for discounts.

Re: Chase reduced limit

Anonymous — Sat, 03 Oct 2015 15:24:13 GMT

Let us know when you call what you find out. Sounds like maybe lack of use. Nothing else stands out.

Don't remember if it was asked up thread, but have you checked your credit reports to see if there's something that shouldn't be there that could have caused it? (Which calling Chase may get you that info too.)

Re: Chase reduced limit

gdale6 — Sat, 03 Oct 2015 15:28:18 GMT

To answer your question on restoration of the CL its yes there are some who are successful in getting it restored it just depends on what the situation is.

Re: Chase reduced limit

newstart13 — Sat, 03 Oct 2015 15:28:20 GMT

With my recent hacking experience I check my reports daily. I hate that I see this on Saturday and have to wait until Monday to talk to them. I was hoping someone might say they had success calling and getting this changed.

Re: Chase reduced limit

happypill — Sat, 03 Oct 2015 15:32:14 GMT

I don't know the answer but "recent hacking experience" definitely raises a red flag to me. Did that result in a fraud alert, cancelled accounts or anything else that showed up on your credit reports? That's the type of thing that can catch the attention of lenders.

The other thing is that you haven't used the card in 3 months. Some lenders don't care about that but others might wonder decide you don't need the limit if you aren't using it.