topic Re: Help with Chase... in Credit Cards

Help with Chase...

drjenn — Sat, 07 Nov 2015 16:19:16 GMT

I have a Chase Freedom card ive had for YEARS!!!! It acctually was a Washington Mutal; but with there merger Chase reduced my CI to $500.00 with a 26.99% interest rate.. i have a 796 FICO and other cards with crazy spending limits... who do i call to get my limit increase and interest rate DECREASED!!!

Re: Help with Chase...

Anonymous — Sat, 07 Nov 2015 16:29:16 GMT

Usually people ask for a CLI every 4-6 months. I've heard that Chase Freedom is over 10 years old. You have a very old account indeed!

Re: Help with Chase...

NRB525 — Sat, 07 Nov 2015 18:29:39 GMT

@drjenn wrote:
I have a Chase Freedom card ive had for YEARS!!!! It acctually was a Washington Mutal; but with there merger Chase reduced my CI to $500.00 with a 26.99% interest rate.. i have a 796 FICO and other cards with crazy spending limits... who do i call to get my limit increase and interest rate DECREASED!!!

What is your usage on the card? Do you have any other Chase cards?

With the combination of bad APR, low CL, high scores, age of the account and the status of Freedom as a main card in my wallet, I'd be inclined to call the number on the back of the card, and ask a CSR about getting the CLI and APR. They will probably want to do a HP, but you can ask for an amount like $20k on the CL to see what they do with that.

Another alternative is to app for another Chase card, like a co-branded card, and reallocate some of that limit to this card. This doesn't solve the APR issue, but if there's a card like Hyatt that gives a sign up bonus, the HP goes toward that benefit and there may be enough CL left over to move some to Freedom.

The third alternative is to just use it for category spend and PIF, and enjoy the 5% back or gather up UR points for later use by transfer through the CSP. My Freedom limit is $1,500 and it's working out just fine for my category and coffee spend. I do need to stop apping if I ever want to get a CSP, due to the 5/24 rule.

Re: Help with Chase...

Anonymous — Sat, 07 Nov 2015 18:51:17 GMT

Has Chase tightened their reallocation rules? I've heard a few people recently say Chase wanted to do a HP for reallocation. Maybe it was just in a few limited cases.

Re: Help with Chase...

Anonymous — Sat, 07 Nov 2015 18:56:25 GMT

@drjenn wrote:
I have a Chase Freedom card ive had for YEARS!!!! It acctually was a Washington Mutal; but with there merger Chase reduced my CI to $500.00 with a 26.99% interest rate.. i have a 796 FICO and other cards with crazy spending limits... who do i call to get my limit increase and interest rate DECREASED!!!

That sucks! Check their prequal page for offers. I would bet you could get a nice limit on a CSP, also grab the slate. You really only need 1500 limit on the freedom, as carrying a balance with interest defeats the rewards purpose. Do you spend a lot on dining/travel? If so, that is the card to get. So long as you dont have 5 new credit card accounts in the last 2 years.

I would rather u use this 1, potentially 2 hard inquiries, vs just the one for a tiny tiny CLI. Chase is known to be stingy with CLIs. Usually gotta move limits around yourself.