topic Re: How is Chase with Product Change? in Credit Cards

How is Chase with Product Change?

Red1Blue — Sun, 24 Feb 2008 12:40:17 GMT

Did any one try to get a product change from Chase? How well do they take these product change requests? I remember reading some one changed their card to startbucks card. Does any one have experience in dealing the Chase product change?

Re: How is Chase with Product Change?

Anonymous — Sun, 24 Feb 2008 14:18:35 GMT

went from bp store card, recon cli begged to upgrade to bp visa, then product changed to starbucks. all but the cli was very smooth.

Re: How is Chase with Product Change?

Anonymous — Sun, 24 Feb 2008 14:24:59 GMT

I changed from a Chase Free Cash Rewards card to a Freedom card. The speedy conversion went smoothly. My account history also remained unchanged.

Re: How is Chase with Product Change?

Dawn — Sun, 24 Feb 2008 14:41:12 GMT

Last Saturday, I did a product change from a Chase Freedom World MC to the Platinum version of that card. The CSR was a sweet gal but wasn't very knowledgeable.

She was not aware that a Platinum version existed for the Freedom World MC and tried to tell me that she would have to do a new application and switch me to a non-signature Freedom Visa card. I stood my ground and she did find that what I was talking about was correct.

As she was reading through the screens, there was one that indicated that my rewards wouldn't transfer and I was about to bail. But ... she did check the subsequent screens and the next one contradicted what the earlier screen said. I don't know what the difference was in the two screens, but a supervisor cleared it up for her and reassured her that my rewards would transfer, and we proceeded.

She also incorrectly told me that I would not get a new number and card, but I did. I'm glad I noticed the new account when I logged into Chase, because I was unprepared to be on the look-out for a new card. My account detail on the new card mirrors the old card and I was told that the old card would be closed in 90 days.

Considering that a new account was established, I will be curious to find out what will happen to the original account on the CRA reports and FICO scoring. Will the account be deleted? Will I be dinged for another new account? If it remains, will it be used to calculate the average age of accounts?

Re: How is Chase with Product Change?

Red1Blue — Sun, 24 Feb 2008 14:59:21 GMT

Thanks Dawn. Keep us posted once you find out the detals on your product change.

Re: How is Chase with Product Change?

Anonymous — Sun, 24 Feb 2008 15:20:44 GMT

I switched DW's regular Chase to Chase Freedom Signature VISA. The CSR was a little hard to understand but she was very helpfull. She even tried to talk me out of the signiture card (although she never actually gave a reason why, and if she had I would have probably taken her advice).

Dawn: The reason why your account number HAD to change was because you switched from a WORLD card, like our signiture card, the number is used to identify signiture (World) status, so a new number is manditory, BUT, DW's history was transfered to the new number with no problems.

The only strange thing is that when we log on to Chase on-line, it still (3 months later) shows us both accounts. They show the same info, except for (1) account number and (2) no statements are generated for the old account.

Re: How is Chase with Product Change?

Dawn — Sun, 24 Feb 2008 15:25:23 GMT

krystofur wrote:

Dawn: The reason why your account number HAD to change was because you switched from a WORLD card, like our signiture card, the number is used to identify signiture (World) status, so a new number is manditory, ...

Wouldn't it be nice if the CSRs given the task of helping us knew this? It's kind of scary thinking that when you call, you may actually know more than the CSR does.

Re: How is Chase with Product Change?

Anonymous — Sun, 24 Feb 2008 15:28:20 GMT

I hear you on that one, but to give credit where it is due, the CSR I had did explain that to me. I just whish I would have listened about the sig thing.

Re: How is Chase with Product Change?

pdxuser — Sun, 24 Feb 2008 18:40:56 GMT

What's wrong with signature cards?

Re: How is Chase with Product Change?

Anonymous — Sun, 24 Feb 2008 20:56:46 GMT

pdxuser wrote:
What's wrong with signature cards?

Nothing in general. Some specific cards don't report correctly to the CB's.

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=33792

Re: How is Chase with Product Change?

Dawn — Sun, 24 Feb 2008 21:17:06 GMT

pdxuser wrote:
What's wrong with signature cards?

The "Signature" and "World" cards are strange beasts. They frequently catch you off guard if you don't know their habits.

They are "flexible spending" accounts known for their "no pre-set spending limits." They combine the features of a "revolving" card (up to the limit) and an "open" card that allows you to charge beyond that limit, but you must pay that part of the balance that is over the limit, as well as the minimum amount due on the revolving part, as of the next due date.

Some CCCs report them as "Open" and others report them as "Revolving" but don't report a limit. Both have the potential for causing scoring problems related to utilization.

Usually the "Open" reporting prevents the card from being factored into revolving utilization ... but not always. I need a "revolving" card for credit mix, so the "Open" reporting on mine was not acceptable for me.

When reported as "Revolving" without a limit reported, FICO looks at the high balance on the account when determining what to factor into utilization. It is real easy to appear "maxed" out under these circumstances. If the consumer has high enough CLs on other cards to cover the utilization of the Signature or World card ... all is well. If they don't, they take a score hit.

When you ask the CCC to report the limit, they may do so, and it may update at the CRAs, but drop off the next time the regular update occurs. I don't like roller coasters ... so I got rid of mine. I'm still waiting to see how DH's is working out.

Re: How is Chase with Product Change?

pdxuser — Mon, 25 Feb 2008 00:06:58 GMT

Thanks, that sounds similar to Amex Green. I don't like the idea of surprises from my credit card. I probably won't ever have an Amex just because of FRs. I'm sure I could survive one just fine, but still, I'd prefer a card that doesn't surprise me with a cold probe in the rear.

I'm starting to think I'll live my life with three boring credit union cards filed away in a drawer, each only used every 60 days for a utility bill. But that drawer will be inside a fabulous house with a fabulous mortgage rate, so I won't mind.

Still, I want pretty cards to flash around and feel important with. Is there a rewards card that gives points toward vanity, self-worth and fulfillment? I might keep that one in my pocket.

PS: Apropos of nothing, but I don't think it's worth its own thread: what is HRT? It's not in the abbreviations list. I think it has something to do with being out-of-control with new credit offers, because it's often used in reference to the Sleigh Center, which was another term I had trouble with until I found it written on the door to a very festively named psychiatric ward.

Re: How is Chase with Product Change?

Anonymous — Mon, 25 Feb 2008 02:40:57 GMT

hvt = harsh verbal therapy. pray you are never subjected to this harshest of scorne. amnesty international is looking into it's use and application for such minor offenses as responding to pre-approved app's and seeking cli's on existing accounts. i've said too much, forget wer ever had this conversation.....

Re: How is Chase with Product Change?

pdxuser — Mon, 25 Feb 2008 02:49:12 GMT

Ah, ok, it must have been a spelling error. At least I hope it is, because the only R adjective I can think of isn't pretty.

Re: How is Chase with Product Change?

Anonymous — Mon, 25 Feb 2008 02:53:17 GMT

pdxuser wrote:
Ah, ok, it must have been a spelling error. At least I hope it is, because the only R adjective I can think of isn't pretty.

you must be refering to the infamous amex fr. heaven help us if the two treatments are ever adminsitered at the same time.

Re: How is Chase with Product Change?

haulingthescoreup — Mon, 25 Feb 2008 04:56:37 GMT

@pdxuser wrote:

PS: Apropos of nothing, but I don't think it's worth its own thread: what is HRT? It's not in the abbreviations list. I think it has something to do with being out-of-control with new credit offers, because it's often used in reference to the Sleigh Center, which was another term I had trouble with until I found it written on the door to a very festively named psychiatric ward.

Well, funny you should ask, because here is my all-time favorite example of HVT, and it's by the founder of the Sleigh Center himself:

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=22650&query.id=75959#M22650

Re: How is Chase with Product Change?

Anonymous — Mon, 25 Feb 2008 16:33:54 GMT

krystofur wrote:

The only strange thing is that when we log on to Chase on-line, it still (3 months later) shows us both accounts. They show the same info, except for (1) account number and (2) no statements are generated for the old account.

Same here, a year after the switch.

I had the United MileagePlus card (Chase bought First USA) and changed to Chase Freedom Platinum Signature. At the time I didn't know what a Signature card was; if I had I never would have switched to that card.

So what is the name of the card I should ask for that (a) keeps my account history (b) keeps my accumulated rewards (c) has the same rewards program 3%/1% (d) always reports as a revolving credit card (e) always reports a credit limit??? What is the name of this beast??

Re: How is Chase with Product Change?

Dawn — Mon, 25 Feb 2008 17:17:42 GMT

masdeocho ... I'm not sure what the "internal" name for that card is ... but they were certainly more familiar with the Visa "non-signature" version than the MC version.

I just had to insist that the version of the Freedom MC card that I wanted was the identical card to the one I had ... but without the "no preset spending limit." I even pointed out to her that the rates and terms associated with the online application for my original World card, specifically spelled out that there was a Platinum version available for people who did not qualify for the "no preset spending limit" version.

If you look at the Chase web-site and check the Learn More link for the Chase Freedom Visa Signature card, you can find the rates and terms sheet for it.

It shows:

Over-the-Credit-Limit fee

None for Signature; $39.00 for Platinum.

and says:

Before we approve you for a credit card, we will review your credit report and the information you provide with your response to confirm that you meet the criteria for this offer. Based on this review, you may receive a Platinum card with different benefits and without the no pre-set spending limit feature, or you may not receive a card.

I think Psychic's Freedom (non-signature) card is the Visa Platinum. Maybe you can get him to call Chase and ask for the exact name?

Message Edited by Dawn on 02-25-2008 11:17 AM

Re: How is Chase with Product Change?

Anonymous — Mon, 25 Feb 2008 17:41:59 GMT

TUVM Dawn. I guess this means a hard inq.

Re: How is Chase with Product Change?

Dawn — Mon, 25 Feb 2008 17:56:05 GMT

I don't think there should be a hard inquiry ... it is a product trade to the same type of account ... same type of rewards ... not a new application. But I haven't pulled any kind of reports yet to see how things are going down.

It's worth asking the CSR when you try to do it ... if you are lucky they will know what they are talking about.

Edit: If ... or rather when ... I pull a 3-in-1 will I be able to tell about the inquiry issue? If so ... if you want to wait a bit before you try ... I will let you know what my experience was.

Message Edited by Dawn on 02-25-2008 11:56 AM