topic Re: Chase Account question in Credit Cards

Chase Account question

Anonymous — Wed, 20 Apr 2011 01:45:19 GMT

Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

Re: Chase Account question

tntexans72 — Wed, 20 Apr 2011 01:48:27 GMT

@Anonymous wrote:
Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

I don't think it's easy obtaining new credit now days, plus the account is 10yrs old. I would keep it. Just use it to pay for gas or cable bill monthly to keep the card in service than PIF. It's definitely not a card you want to carry your balance on.

Have you try to call Chase and ask them to reduce the rate?

Re: Chase Account question

DI — Wed, 20 Apr 2011 01:48:59 GMT

@Anonymous wrote:
Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

I would not use it rather than close a 10 y.o. account with a high limit. Have you called to inquire about lowering the APR? The APR isextremely high to not be a store card.

Re: Chase Account question

Anonymous — Wed, 20 Apr 2011 02:05:23 GMT

i have 2 other cards with chase,

Continental Presidential Plus-$20000@13.24

Tj Maxx reward Mastercard-$9000@13.24 Just approved

They wont lower the rate

Re: Chase Account question

DI — Wed, 20 Apr 2011 02:07:29 GMT

Are you carrying a balance on the card?

Re: Chase Account question

Anonymous — Wed, 20 Apr 2011 02:08:38 GMT

Nope the only card that has a balnce is the continental card but i pay that off every month.

Re: Chase Account question

DI — Wed, 20 Apr 2011 02:11:10 GMT

If you carry no balance on the card don't worry about the APR. Either continue to pay in full all charges or don't use the card.

Re: Chase Account question

Anonymous — Wed, 20 Apr 2011 02:14:46 GMT

ok i really am trying ot consolidate though. I am trying to get rid of a card.

Re: Chase Account question

DI — Wed, 20 Apr 2011 02:16:20 GMT

Do you have other cards that are older than the Chase card? If not, don't risk losing your AAoA after the account is deleted 10 years after closure.

Re: Chase Account question

AndySoCal — Wed, 20 Apr 2011 02:16:44 GMT

This card is helping your average of accounts. One thing the FICO score does like is accounts with a long credit history like this account. If you need to carry balance just do not use this card to do so. I would agree with the others keep the account open and active.

Re: Chase Account question

Anonymous — Wed, 20 Apr 2011 23:30:17 GMT

Yes i have 2 cards from 1983, 1 from 93, 1 from 99, a few from 2002. And a bunch of new ones between 2010 and 2011

Re: Chase Account question

JRomulus — Thu, 21 Apr 2011 03:09:14 GMT

Keep it open and SD it.

There must be some policy at Chase about the WAMU and Providian card business they acquired a couple years ago. I had read many times that they will not PC the card or reduce the interest rate.

I have a 5 year old Providian card that unfortunately I let get to the penalty rate of 29.9%. I have since paid it off of course, but I am really reluctant to close that card and it's $7500 CL. There is no annual fee, and I don't carry a balance, so why close it? SIx weeks ago I called to PC it, and they said they'd be doing a review of all credit cards in a month.

So I called a week ago to try and PC it, and they DID change it to a Chase Feedom card, but kept the interest rate the same.

Maybe they look at the former WAMU and Providain cardholders as outcasts or lepers of some kind, and just want you to close the card and re-app for a new Chase card.

So has anyone reading this ever had Chase lower their interest on an old WAMU or Providian card?

Re: Chase Account question

android01 — Thu, 21 Apr 2011 03:27:36 GMT

@JRomulus wrote:
Keep it open and SD it.

There must be some policy at Chase about the WAMU and Providian card business they acquired a couple years ago. I had read many times that they will not PC the card or reduce the interest rate.

I have a 5 year old Providian card that unfortunately I let get to the penalty rate of 29.9%. I have since paid it off of course, but I am really reluctant to close that card and it's $7500 CL. There is no annual fee, and I don't carry a balance, so why close it? SIx weeks ago I called to PC it, and they said they'd be doing a review of all credit cards in a month.

So I called a week ago to try and PC it, and they DID change it to a Chase Feedom card, but kept the interest rate the same.

Maybe they look at the former WAMU and Providain cardholders as outcasts or lepers of some kind, and just want you to close the card and re-app for a new Chase card.

So has anyone reading this ever had Chase lower their interest on an old WAMU or Providian card?

HAHA! I was a Washington Mutual cardholder, and when I asked for a lower interest rate, I was told by a snotty CSR - "Mr. Android, if you can't afford to use our credit card, then by all means, use someone else's". I took their advice and will never use their card again. I'll let it close from inactivity. I also actively try and dissuade friends and family to end any relationship they may have with Chase.

Re: Chase Account question

JRomulus — Thu, 21 Apr 2011 03:51:52 GMT

I don't blame you, what an obnoxious customer service rep.

You know we've all been on one side or another of situations with customers. There are good ways to deal with things and bad ways. The bad ways cost companies lots of business.

All that lady had to say was "Mr. Android, I wish I could, but my hands are tied", rather than insult you, a cardholder. How stupid of her.

Anyway, I've gotten to the point where I don't take it personally anymore. I bank heavily at Chase but their credit card division doesn't like me. Discover does not like me. Amex didn't like me 20 years ago, now they love me. Citi loves me. Whatever....

Interestingly when I e-filed my taxes on Monday, I had an app for a Quicken Visa pop up on the TurboTax site.

It was midnight, I was tired, so I apped....

It's a CHASE Quicken Visa.... $5700 limit, 16% interest rate, no AF. Silly isn't it?

They won't lower the interest rate on the old Providian card, but they'll issue me a new piece of plastic with an interest rate half as much. LOL