topic Re: CLI on credit report (chase) in Credit Cards

CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:23:30 GMT

Hello all... What's up with chase! I just got an alert from my credit monitoring that I got credit line decreased. I requested to move $3500 from my chase Marriott account to my freedom. I did not know that chase,would report it on my credit report as credit line decreased. I am so upset! **bleep**!

Re: CLI on credit report (chase)

AverageJoesCredit — Mon, 25 Jul 2016 02:27:05 GMT

Sorry to hear that!

Re: CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:27:25 GMT

Now I am going to have a negative report on my credit bureau. Had I'd known I would have never transferred $3500 from my Marriott to my chase!!be aware everyone if you combined limits from one credit card to another from chase to have this action report on your credit report!😢

Re: CLI on credit report (chase)

Anonymous — Mon, 25 Jul 2016 02:31:04 GMT

Sorry you are upset. It's really not going to matter, and it happens to everyone who moves credit lines with any lender, not just with Chase.

It's certainly easily explainable if anyone ever had a question, which I doubt they will. Not to worry.

Re: CLI on credit report (chase)

wasCB14 — Mon, 25 Jul 2016 02:32:26 GMT

@gingerflower wrote:
Hello all... What's up with chase! I just got an alert from my credit monitoring that I got credit line decreased. I requested to move $3500 from my chase Marriott account to my freedom. I did not know that chase,would report it on my credit report as credit line decreased. I am so upset! **bleep**!

Chase is just reporting the correct CL. They've done it to me, as has Barclaycard. I've not moved CL with other issuers, but I assume they'd do the same. Not to do so would misrepresent my CLs.

I've not gotten any AA for moving CLs around. If you get AA (and can talk to a competent human), it's easy to explain what happened.

Re: CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:35:13 GMT

@Humu thank you I'm just so upset I value my credit I figured I was using much of my Marriott card which has a $13,000 cl I figured move $3500 to freedom. Oh well, lesson learned. Thank you for you support!

Re: CLI on credit report (chase)

Anonymous — Mon, 25 Jul 2016 02:37:00 GMT

Chase are going to stateyour credit linit everytime they report. there is a difference between them making a comment that the credit limit was decreased and just reporting the new credit limit. Generally they will also report the following info:

* Account open date
* Credit limit
* Current balance
* Lifetime high balance
* Over the credit limit balance
* Minimum payment due
* Last posted payment
* User type (Authorized User, individual or joint)

Is there an actual comment on your report? or is the 'credit limit decreased' the words from the credit monitoring service?

Re: CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:37:28 GMT

thank you wasCB14 THANK YOU

Re: CLI on credit report (chase)

Gmood1 — Mon, 25 Jul 2016 02:38:58 GMT

I wouldn't worry about it. I moved some limits with Chase. They dropped the card to $500 and reported it before they closed it. Now it shows a $500 limit closed by owner.

Re: CLI on credit report (chase)

Anonymous — Mon, 25 Jul 2016 02:40:55 GMT

@gingerflower wrote:
@Humu thank you I'm just so upset I value my credit I figured I was using much of my Marriott card which has a $13,000 cl I figured move $3500 to freedom. Oh well, lesson learned. Thank you for you support!

No worries, ginger, when we're responsible with our credit, as you are, it's upsetting to see an alert saying "credit limit decrease."

I understand as I moved limits between my 3 Chase cards and I'm happy I did, because they now serve my needs better, but it was unnerving to me also to see one card increasing to a $20,000 limit and at the same time getting an alert that another card had decreased to $10,000 limit!

It's not going to affect you negatively, and the important thing is for you to put the credit where you need it, which it sounds as if you did.

I'm really glad I moved my limits around, and I have a feeling your wise choice in doing so will serve you well in the future.

Re: CLI on credit report (chase)

Anonymous — Mon, 25 Jul 2016 02:46:11 GMT

The same thing happened to me when I moved some money around. It all comes out in the wash when both accounts report. Really not a problem...

Re: CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:47:55 GMT

@zebed it states credit limit decreased but no other negative remarks ..from 13,500 now 10,000 😢

Re: CLI on credit report (chase)

gingerflower — Mon, 25 Jul 2016 02:51:21 GMT

Thank you everyone for your support! I feel much better!

Re: CLI on credit report (chase)

Anonymous — Tue, 26 Jul 2016 07:38:39 GMT

Don't worry about it. It's not a "negative" on your CR. It might have a temporary negative effect, but it's not a true "negative" on your report. If it effects your scores, it'll only be temporary. They'll rebound quickly. Don't lose any sleep over it.

Re: CLI on credit report (chase)

Anonymous — Tue, 26 Jul 2016 17:27:07 GMT

I would guess if your overall CL and util stayed the same it's not a negative at all. I doubt there's anyone out there scouring reports looking for that particular combination of words.