topic Re: A little thorn from Chase in Credit Cards

A little luv from Chase

Anonymous — Mon, 08 Jun 2009 14:05:07 GMT

Got a $500 cli from chase yesterday!! csr said hard.

Re: A little luv from Chase

Anonymous — Mon, 08 Jun 2009 14:07:04 GMT

Congrats on CLI. I got $500 from Chase a couple months ago as well. Hard pull for me too!

Re: A little luv from Chase

Anonymous — Mon, 08 Jun 2009 14:18:52 GMT

Congrats!

Re: A little thorn from Chase

Anonymous — Mon, 08 Jun 2009 15:51:21 GMT

When Chase was Wamu, I had a $16,000 limit, which, by the way, they gave me! I did not ask for the increases. My balance never went higher than $12,000. Two months before Chase took over, Wamu lowered my limit to $9,600! No late payments, no over the limit charges, payments early, and way more than the minimum payment payed every month. At the time they lowered the limit, my balance was $ 8,600. Now my card looks like it is almost maxed out.

I called when Chase took over, and asked them to lower my APR, due to my excellant payment history. They set it at 12.9% variable. I was very thankful. My balance is now at $8,000 or so.

Last week I recieved notice that they are raising my APR to 20.99% variable, which can go as high as 24.99%, FOR NO REASON! I can either close the account, accept the new rate change, or pay off the balance! When I spoke to them regarding this issue, they were like robots! There was nothing they could do, and I wasn't even allowed to speak to a manager, there wasnt one available.

My question: I have heard that it is harmful to your FICO score to close credit cards. Is this true? I have 3 other cards, with fairly low balances, and excellant payment history.

Frustrated to say the least, as I have had this card for more than 20 years!

Re: A little luv from Chase

Anonymous — Mon, 08 Jun 2009 17:50:55 GMT

@Anonymous wrote:
Got a $500 cli from chase yesterday!! csr said hard.

Congrats..

Re: A little luv from Chase

Anonymous — Mon, 08 Jun 2009 18:07:11 GMT

would luv to have your scores, fretless!! i am about 23 pts away from your EQ!! what is killing me my aaoa is only 1 yr!! got luv from walmart discover for a 800 cli!! i have no where near cl's some of these guys have on here ie TX john!! he has got it all together!! i will be like him in another yr or 2!! man, i luv these forums!! now, i have a fico addiction!! the only way to cure it- all 800's!!

Re: A little thorn from Chase

Anonymous — Mon, 08 Jun 2009 20:41:45 GMT

That is ridiculous. Chase also pulled that with their $120 annual balance transfer fee they invented a few months ago. (The NY AG made them stop that.)

Personally, I'd take the hit to my credit and FICO and tell them I'm not paying them a single penny unless they change it back. I wouldn't put up with bull**bleep** from the banks. They can either treat me fairly and I'll pay them as agreed, or they can be [edited!] and I won't pay them at all. Their choice.

(Please keep language clean when posting. - Scamp)

Message Edited by Scamp on 06-08-2009 01:41 PM

Re: A little thorn from Chase

n2win — Mon, 08 Jun 2009 20:22:10 GMT

@Anonymous wrote:
When Chase was Wamu, I had a $16,000 limit, which, by the way, they gave me! I did not ask for the increases. My balance never went higher than $12,000. Two months before Chase took over, Wamu lowered my limit to $9,600! No late payments, no over the limit charges, payments early, and way more than the minimum payment payed every month. At the time they lowered the limit, my balance was $ 8,600. Now my card looks like it is almost maxed out.

I called when Chase took over, and asked them to lower my APR, due to my excellant payment history. They set it at 12.9% variable. I was very thankful. My balance is now at $8,000 or so.

Last week I recieved notice that they are raising my APR to 20.99% variable, which can go as high as 24.99%, FOR NO REASON! I can either close the account, accept the new rate change, or pay off the balance! When I spoke to them regarding this issue, they were like robots! There was nothing they could do, and I wasn't even allowed to speak to a manager, there wasnt one available.

My question: I have heard that it is harmful to your FICO score to close credit cards. Is this true? I have 3 other cards, with fairly low balances, and excellant payment history.

Frustrated to say the least, as I have had this card for more than 20 years!

Not a good idea score-wise to close a card with a balance...

Re: A little thorn from Chase

Anonymous — Tue, 09 Jun 2009 01:20:15 GMT

@n2win wrote:
@Anonymous wrote:
When Chase was Wamu, I had a $16,000 limit, which, by the way, they gave me! I did not ask for the increases. My balance never went higher than $12,000. Two months before Chase took over, Wamu lowered my limit to $9,600! No late payments, no over the limit charges, payments early, and way more than the minimum payment payed every month. At the time they lowered the limit, my balance was $ 8,600. Now my card looks like it is almost maxed out.

I called when Chase took over, and asked them to lower my APR, due to my excellant payment history. They set it at 12.9% variable. I was very thankful. My balance is now at $8,000 or so.

Last week I recieved notice that they are raising my APR to 20.99% variable, which can go as high as 24.99%, FOR NO REASON! I can either close the account, accept the new rate change, or pay off the balance! When I spoke to them regarding this issue, they were like robots! There was nothing they could do, and I wasn't even allowed to speak to a manager, there wasnt one available.

My question: I have heard that it is harmful to your FICO score to close credit cards. Is this true? I have 3 other cards, with fairly low balances, and excellant payment history.

Frustrated to say the least, as I have had this card for more than 20 years!
Not a good idea score-wise to close a card with a balance...

Won't they update the new balance every month?

Re: A little thorn from Chase

Anonymous — Tue, 09 Jun 2009 01:36:43 GMT

@Anonymous wrote:
@n2win wrote:
@Anonymous wrote:
When Chase was Wamu, I had a $16,000 limit, which, by the way, they gave me! I did not ask for the increases. My balance never went higher than $12,000. Two months before Chase took over, Wamu lowered my limit to $9,600! No late payments, no over the limit charges, payments early, and way more than the minimum payment payed every month. At the time they lowered the limit, my balance was $ 8,600. Now my card looks like it is almost maxed out.

I called when Chase took over, and asked them to lower my APR, due to my excellant payment history. They set it at 12.9% variable. I was very thankful. My balance is now at $8,000 or so.

Last week I recieved notice that they are raising my APR to 20.99% variable, which can go as high as 24.99%, FOR NO REASON! I can either close the account, accept the new rate change, or pay off the balance! When I spoke to them regarding this issue, they were like robots! There was nothing they could do, and I wasn't even allowed to speak to a manager, there wasnt one available.

My question: I have heard that it is harmful to your FICO score to close credit cards. Is this true? I have 3 other cards, with fairly low balances, and excellant payment history.

Frustrated to say the least, as I have had this card for more than 20 years!
Not a good idea score-wise to close a card with a balance...
Won't they update the new balance every month?

Chase may even charge something for the balance on closed account. Btw, 12k and 8k is kinda high during these (or those) times unless your income is good for chase/wamu to justify. APR raise is all legal i think, otherwise they wont not do it. Good history and good payment record means little to them when the banks want to reduce their credit exposure.

There was an article (pretty old one) that those peole who were affected by foreclosure, job losses, etc may default on credit card debt too.

Re: A little luv from Chase

Anonymous — Thu, 11 Jun 2009 01:55:34 GMT

been thinking about calling chase for a CLI now that the bank isnt WAMU. not sure if i want an inquiry on my Credit REport though for an increase of $500. my CL right now is at 4500. with a HL of 3400 =|

Re: A little luv from Chase

Anonymous — Thu, 11 Jun 2009 02:07:10 GMT

A Chase CLI is always a hard INQ.

Re: A little thorn from Chase

Anonymous — Thu, 11 Jun 2009 02:10:51 GMT

@Anonymous wrote:
@Anonymous wrote:
@n2win wrote:
@Anonymous wrote:
When Chase was Wamu, I had a $16,000 limit, which, by the way, they gave me! I did not ask for the increases. My balance never went higher than $12,000. Two months before Chase took over, Wamu lowered my limit to $9,600! No late payments, no over the limit charges, payments early, and way more than the minimum payment payed every month. At the time they lowered the limit, my balance was $ 8,600. Now my card looks like it is almost maxed out.

I called when Chase took over, and asked them to lower my APR, due to my excellant payment history. They set it at 12.9% variable. I was very thankful. My balance is now at $8,000 or so.

Last week I recieved notice that they are raising my APR to 20.99% variable, which can go as high as 24.99%, FOR NO REASON! I can either close the account, accept the new rate change, or pay off the balance! When I spoke to them regarding this issue, they were like robots! There was nothing they could do, and I wasn't even allowed to speak to a manager, there wasnt one available.

My question: I have heard that it is harmful to your FICO score to close credit cards. Is this true? I have 3 other cards, with fairly low balances, and excellant payment history.

Frustrated to say the least, as I have had this card for more than 20 years!
Not a good idea score-wise to close a card with a balance...
Won't they update the new balance every month?
Chase may even charge something for the balance on closed account. Btw, 12k and 8k is kinda high during these (or those) times unless your income is good for chase/wamu to justify. APR raise is all legal i think, otherwise they wont not do it. Good history and good payment record means little to them when the banks want to reduce their credit exposure.

There was an article (pretty old one) that those peole who were affected by foreclosure, job losses, etc may default on credit card debt too.

Not possible and no they don't! Just the regular interest, OL and late fee's. Terms on the account are frozen upon closing.