topic Re: Chase CLD x2 in Credit Cards

Chase CLD x3 < 1 Call to JPMC < CLD's Voided

credit_is_crack — Thu, 11 Jun 2020 22:53:35 GMT

Hi All,

So I got 2 letters in the mail today from Chase -- in short, CLD on my Ritz from $24,500 > $12,200 and my Amazon from $11,000 > $5,500. It had the standard "low usage in last 12 months" which I can't argue, and the change is not effective for another 30 days. Considering how many folks find out about CLD's other ways (drop in scores, credit report alerts, etc), I am glad to see Chase at least alerted me with some decent notice. I have no balances on either of these cards so it has no impact on me, and the reductions ($17.2k) will barely dent my overall credit lines.

My UTI is at 1% today, and has not increased above 4% in the last 48 months
No baddies or anything negative on any reports
I did open 8 new accounts last year (all are now between the ages of 7-9 months), so I'm sure that got a little attention
Been laying low but did open 2 new cards in the last 60 days, but only 1 has reported
Current FICO's are EX 761, TU 783, EQ 751
Letters do say that after the CLD it would be a HP for CLI's, which is standard business for them

On top of this, two other odd things happened. My CSP ($30k) which I use significantly less than my Amazon is staying in tact (for now lol). I didn't get any letter about that one. I already planned on closing my Ritz next AF (AUG) so I'll likely just roll the $12k into the CSP. The 2nd thing is I got a call from a Chase relationship banker today saying "we're here for you, let us know how we can help" and an email from him. It didn't specify if he was reaching out about my personal or business accounts, but seemed like a generic note. I think they might have launched some type of "stay connected" initiatve due to COVID. So 2 letters in the mail, a phone call and an email all in a single day - I can't say "I didn't know" lol

Just thought I'd share as others may get some letters from them to, below are the letters

PS - This is the first time I've ever had a CLD on any card from any bank. If it takes a global pandemic and national upheaval for them to say "K let's check him out", then I think my profile is still pretty solid

**Updated 6/11** Got a 3rd letter on my CSP ($30k > $15k)

Re: Chase CLD x2

Gmood1 — Thu, 11 Jun 2020 00:02:16 GMT

@credit_is_crack

I believe thousands of these letters are being mailed out from Chase as I type this.

You, I and a handful of members that have already posted. Are only the beginning.

I'd be lying if I said it was a surprise.

I expected it from Chase. They did it to me 10 years ago. Where as Capital One left my limit intact.

Re: Chase CLD x2

CreditCuriosity — Wed, 10 Jun 2020 23:54:30 GMT

Can call and ask them not to lower it as @Gmood1 did.. They wont lower his. I suspect alot of us will be getting these letters in the coming days and if paying a big AF on a card such as Ritz that can't be utilized persay due to cv-19 i certainly myself would be calling . Has nothing to do with your scores/credit just limiting their risks in this uncertain time. Up to you though on whether you want to call

Re: Chase CLD x2

Jnbmom — Wed, 10 Jun 2020 23:54:54 GMT

@credit_is_crack

Sorry for the decreases but at least they told you first unlike some other lenders lately . Synch, comenity and cap one 😷 😷

Re: Chase CLD x2

AllZero — Wed, 10 Jun 2020 23:58:36 GMT

@credit_is_crack. Maybe phone call to see if you want to try to reinstate credit limits?

See https://ficoforums.myfico.com/t5/Credit-Cards/Chase-CL-Decrease-20k-gt-gt-gt-10K-Lack-of-Use/td-p/6038643

Re: Chase CLD x2

credit_is_crack — Thu, 11 Jun 2020 00:11:30 GMT

@Gmood1 @CreditCuriosity @Jnbmom @AllZero

I guess its just that time as you all mentioned, but I did appreciate the advanced notice. CC you're right, so I just called them. The guy answered before the "Thanks for calling JP Morgan Chase" intro message was even done - total hold time, 4 seconds . He sounded like he had been getting these calls all day, poor dude.

He said "Actually yes, we sent these out to see if you were interested in it and agreed to the new terms, but if you disagree we can update it so the accounts remain as is". He did it on both cards, didn't ask any questions, but I did throw in "I was just confused by why I got them because I'm not sure how much you were expecting me to spend at a hotel with no traveling going on.." lol

4 minutes later, he did whatever they do and said I was good, my limits would remain as is. So I guess CLD and now back to normal lol (but I'm still closing the Ritz and rolling the limit into my Amazon when that next fee hits)

Re: Chase CLD x2

M_Smart007 — Thu, 11 Jun 2020 00:17:32 GMT

@credit_is_crack, Glad you called ... nothing like the roller coaster ride though

I brace myself, although unscathed (so far) .. that could change

Re: Chase CLD x2

CreditCuriosity — Thu, 11 Jun 2020 00:20:24 GMT

@credit_is_crack wrote:
@Gmood1 @CreditCuriosity @Jnbmom @AllZero

I guess its just that time as you all mentioned, but I did appreciate the advanced notice. CC you're right, so I just called them. The guy answered before the "Thanks for calling JP Morgan Chase" intro message was even done - total hold time, 4 seconds . He sounded like he had been getting these calls all day, poor dude.

He said "Actually yes, we sent these out to see if you were interested in it and agreed to the new terms, but if you disagree we can update it so the accounts remain as is". He did it on both cards, didn't ask any questions, but I did throw in "I was just confused by why I got them because I'm not sure how much you were expecting me to spend at a hotel with no traveling going on.." lol

4 minutes later, he did whatever they do and said I was good, my limits would remain as is. So I guess CLD and now back to normal lol (but I'm still closing the Ritz and rolling the limit into my Amazon when that next fee hits)

Just curious why you dont PC the Ritz to the Marriott at a way lower AF and get a free night as know you can PC up from marriott to ritz so assume you can do reverse unless you already have the marriott? Not sure how much you travel, but free night is worth the AF..

Glad the call worked and the forum was able to help you. That is what we are all here for .. Guessing about 50% of people wont bother calling and they lower their risk threshold a ton.

Re: Chase CLD x2

K-in-Boston — Thu, 11 Jun 2020 00:28:52 GMT

Thanks for the update. Definitely seems like the strategy here was "cut them if they're not being used, reinstate them if they call."

Re: Chase CLD x2

Gmood1 — Thu, 11 Jun 2020 00:40:19 GMT

Glad you got it worked out @credit_is_crack .

Easy peasy this go around.

If they haven't cut enough on this round.

I suspect the next go around will be forced CLDs.

It is what it is though. Not something I'd lose sleep over.

Re: Chase CLD x2

credit_is_crack — Thu, 11 Jun 2020 00:40:57 GMT

@M_Smart007 wrote:
@credit_is_crack, Glad you called ... nothing like the roller coaster ride though

I brace myself, although unscathed (so far) .. that could change

@M_Smart007 it was funny because as soon as I saw the letter I knew exactly what it was and was like "meh".

@CreditCuriosity I had thought about the downgrade but once they nerf'd the $100 companion credit I scooped up the bonvoy brilliant so it's kind of a duplicate card. I hung onto it in case they decided to PC it to something else like they did with the farimont card (can't remember if that's the one - happened in 2017). I'm not desperate for it though so wasn't really open to another AF when I have the brilliant and the legacy biz Marriott from chase already

@K-in-Boston - I agree, and it's simple and clean. chase will still come out ahead on this one

Re: Chase CLD x2

credit_is_crack — Thu, 11 Jun 2020 00:41:57 GMT

@Gmood1 wrote:
Glad you got it worked out @credit_is_crack .
Easy peasy this go around.
If they haven't cut enough on this round.
I suspect the next go around will be forced CLDs.
It is what it is though. Not something I'd lose sleep over.

@Gmood1 Exactly. We'll just take it one CLD at a time

Re: Chase CLD x2

credit_is_crack — Thu, 11 Jun 2020 00:43:16 GMT

@Gmood1 wrote:
Glad you got it worked out @credit_is_crack .
Easy peasy this go around.
If they haven't cut enough on this round.
I suspect the next go around will be forced CLDs.
It is what it is though. Not something I'd lose sleep over.

I just noticed your signature LOLOLOL

Re: Chase CLD x2

Anonymous — Thu, 11 Jun 2020 00:54:54 GMT

I'm just sitting here hoping they give a CLI to my Freedom, FU or Amazon. Amazon hasn't moved since I got it 2 years ago, despite decent spend. Might be a CLI call in my future

Re: Chase CLD x2

Anonymous — Thu, 11 Jun 2020 00:54:58 GMT

I'm monitoring mine now. So far so good. That can change at any time of course. My Freedom doesn't get much use, but my CFU is getting hammered, hoping that helps keep my Freedom CL intact. Can't see my CFU getting a CLD as the balance balloons.

Re: Chase CLD x2

credit_is_crack — Thu, 11 Jun 2020 00:59:13 GMT

@Anonymous wrote:
I'm monitoring mine now. So far so good. That can change at any time of course. My Freedom doesn't get much use, but my CFU is getting hammered, hoping that helps keep my Freedom CL intact. Can't see my CFU getting a CLD as the balance balloons.

@Anonymous Go Get It! There have been some (a few) recent posts about CLI success so the ball is in your court!

@Anonymous I guess if they're sending out letters for 30 days you won't really see anything online until you get the letters first. Even with delayed mail you'd still get it at least 2 weeks earlier. I do have all estatements with them so they did go out of their way to mail it via snail mail

Re: Chase CLD x2

Anonymous — Thu, 11 Jun 2020 01:05:09 GMT

@credit_is_crack wrote:
@Anonymous wrote:
I'm monitoring mine now. So far so good. That can change at any time of course. My Freedom doesn't get much use, but my CFU is getting hammered, hoping that helps keep my Freedom CL intact. Can't see my CFU getting a CLD as the balance balloons.
@Anonymous Go Get It! There have been some (a few) recent posts about CLI success so the ball is in your court!

@Anonymous I guess if they're sending out letters for 30 days you won't really see anything online until you get the letters first. Even with delayed mail you'd still get it at least 2 weeks earlier. I do have all estatements with them so they did go out of their way to mail it via snail mail

Yeah, if they do cut mine, the fact that I place at least one transaction on the card monthly might not save me, as it looks like they're looking at utilization. 0.3% monthly utilization recently might put me in the CLD pool. If it happens, I will call. I'll also burn a HP if needed.

Re: Chase CLD x2

Remedios — Thu, 11 Jun 2020 01:41:23 GMT

@credit_is_crack wrote:
@Gmood1 wrote:
Glad you got it worked out @credit_is_crack .
Easy peasy this go around.
If they haven't cut enough on this round.
I suspect the next go around will be forced CLDs.
It is what it is though. Not something I'd lose sleep over.

I just noticed your signature LOLOLOL

No CLDs with that one

Re: Chase CLD x2

AverageJoesCredit — Thu, 11 Jun 2020 02:01:35 GMT

@K-in-Boston wrote:
Thanks for the update. Definitely seems like the strategy here was "cut them if they're not being used, reinstate them if they call."

Wonder if i call if they'll give me a card of choice with someone else's non phone in limit?. Might be worth a shot😆

Re: Chase CLD x2

AverageJoesCredit — Thu, 11 Jun 2020 02:04:00 GMT

@credit_is_crack wrote:
@Gmood1 wrote:
Glad you got it worked out @credit_is_crack .
Easy peasy this go around.
If they haven't cut enough on this round.
I suspect the next go around will be forced CLDs.
It is what it is though. Not something I'd lose sleep over.

@Gmood1 Exactly. We'll just take it one CLD at a time

Man @Gmood1 just look at how clean Crack Mans siggy is. Just imagine if you " paid " him to organize your siggy. From a Mozart to a Picasso 😁