topic Re: Post chase app spree in Credit Cards

Post chase app spree

swpopham — Wed, 02 Oct 2013 23:18:14 GMT

After chase cut the limits on my wife and my joint cards and not being able to get a reply we decided to pull our accounts and vote with our feet.

1. Amex bcp 10k
2. Nfcu flagship 5k with 60k sign up bonus points
3. Nfcu asked for cli from 25k to 50k countered with 30k asking for 40k or make new card 25k
4. Citi prestige they called verifying info and income. Said they would have answer in 3 days or sooner but looked good. DECLINED, may recon tomorrow

Credit: experian 710 with 5 inquiries
Tu: 688 with 1 inquiry
Eq: 702 with 4 inquiries

Re: Post chase app spree

09Lexie — Wed, 02 Oct 2013 20:21:54 GMT

Hopefully those new lines will replace what you lost with Chase. Which are you using to replace Ink?

Re: Post chase app spree

youngandcreditwrthy — Wed, 02 Oct 2013 20:27:11 GMT

That Amex cl will grow in 61 days. Ask for $25k then. I did and got it :-p

Re: Post chase app spree

missjae — Wed, 02 Oct 2013 22:00:23 GMT

Congrats on the new lines with other lenders. Still no word from Chase? I really wanted to know what happened.

Re: Post chase app spree

B335is — Wed, 02 Oct 2013 22:04:27 GMT

@swpopham wrote:
After chase cut the limits on my wife and my joint cards and not being able to get a reply we decided to pull our accounts and vote with our feet.

Congratulations on your success. Reading stories like yours has really taught me not to put all my eggs in one basket. I'm also interested to know if you were ever given an explanation from Chase.

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 22:52:11 GMT

I tracked down the guy from the EO office and got him on the phone he gave me the bull crap about them reviewing accounts periodicly and they said my wifes debt went up. I said thats a load of crap. We paid our house of 20 years early and now we are being punished for it. He said thats not true, I said my wifes credit is perfect high 800 scores, all that is on her credit now is her new 2013 f350 70k and the amex reported with a 19k balance. I told him, chase wouldnt give us the time of day before our house was financed through them and now that its paid off they are backing out again. He went on and on..... and said sorry try for a cli in 6 months if you want too..

Got ahold of PB who was pissed beyond all imaganation after i ripped him for 15 minutes, he said im sorry ive been fighting all weekend for sara and Im gonna lose my job now. Said tough go fight the unemployement line....

Now the question is to close the cards or let them sit inactive

Re: Post chase app spree

myjourney — Wed, 02 Oct 2013 23:03:24 GMT

@swpopham wrote:
I tracked down the guy from the EO office and got him on the phone he gave me the bull crap about them reviewing accounts periodicly and they said my wifes debt went up. I said thats a load of crap. We paid our house of 20 years early and now we are being punished for it. He said thats not true, I said my wifes credit is perfect high 800 scores, all that is on her credit now is her new 2013 f350 70k and the amex reported with a 19k balance. I told him, chase wouldnt give us the time of day before our house was financed through them and now that its paid off they are backing out again. He went on and on..... and said sorry try for a cli in 6 months if you want too..

Got ahold of PB who was pissed beyond all imaganation after i ripped him for 15 minutes, he said im sorry ive been fighting all weekend for sara and Im gonna lose my job now. Said tough go fight the unemployement line....

Now the question is to close the cards or let them sit inactive

Wow

Re: Post chase app spree

missjae — Wed, 02 Oct 2013 23:05:26 GMT

At least you got an explanation, even if it is a load of crap. I'm all for closing cards, but you could always let them sit inactive, use the heck out of your other cards...either way, let them know how much you don't appreciate them.

Re: Post chase app spree

Anonymous — Wed, 02 Oct 2013 23:10:29 GMT

So they were really targeting your wife rather than you. This is not really out of the line though. Anyone one's utilization and/or DTI spikes above the bank'a threshold, it will raise a red flag and result in a manual review.

Well it does make sense at the very least now. You could leave those cards as is or close them. Entirely up to you and there's no right or wrong answer.

In the future though you should really avoid carrying balances on your wife's card (or any joint account) again, especially since she's unemployed. With your income you can pretty much carry all that debt on your own without any issues anyhow.

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 23:14:15 GMT

@Anonymous wrote:
So they were really targeting your wife rather than you. This is not really out of the line though. Anyone one's utilization and/or DTI spikes above the bank'a threshold, it will raise a red flag and result in a manual review.

Well it does make sense at the very least now. You could leave those cards as is or close them. Entirely up to you and there's no right or wrong answer.

In the future though you should really avoid carrying balances on your wife's card (or any joint account) again, especially since she's unemployed. With your income you can pretty much carry all that debt on your own without any issues anyhow.

well since we own our own company there is no way for anyone to know that she still isnt playing an active roll in the company! until we decide what we are going to do over the obamacare crap, its one less person on the books....

Citi just emailed, declined dont know if I want to recon or not....

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 23:17:23 GMT

@09Lexie wrote:
Hopefully those new lines will replace what you lost with Chase. Which are you using to replace Ink?

I think we are just going to use the amex plum cards for awhile, I want NFCU to settle down a little bit and we may pick up their business card but never had a problem with our business amex, but they do like to FR sara every chance they get. I wonder if having an 800+ score makes them more willing to give you credit but they watch you way more closely then everyone else because you can do so much damage?

Re: Post chase app spree

09Lexie — Wed, 02 Oct 2013 23:20:11 GMT

@enharu is correct. Even though DW has a high CS, Chase still has to manage their risk. What is alarming is the lack of communication to you even if its a ' Im still working on it'.

Closing is your right and it appears the worse is over - I would say keep the Ink just because you haven't seemed to have found a replacement. As for the CSP, if there are still rewards keep it and I would definitely keep the untouched JPM Cards.

Just my .02.

Re: Post chase app spree

09Lexie — Thu, 03 Oct 2013 05:49:32 GMT

I'm not sure why your wife is being looked at so hard by each lender. Is she the primary on Amex and Chase?

Re: Post chase app spree

Anonymous — Wed, 02 Oct 2013 23:23:24 GMT

From what you said your wife isn't running into issues with chase alone. Therefore its best to refrain from carrying any debt on any account with her name on it. It sounds the same thing is going to happen all over again if she starts dragging high balances on her new cards. You have a lot of CL on your own accounts anyhow, so it's not like you really need to use hers.

What were the reasons citi gave for the decline? Are you a citi banking customer?

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 23:25:08 GMT

she was the primary on the ink and csp, after amex FR'd her last year I picked up the gold card just to screw with them (remember?) well it didnt work, I have not heard a peep out of them in 14 months, About 7 months ago I picked up the plum card, I dont need the ink and a 7800 credit line wont run one of my employee's for the month! so its not worth keeping just a bill to worry about at the end of the month.

I think we are going to close the ink, then leave the csp with a 0 balance and I will keep the JPM card its a great hidden trade line forsure.

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 23:26:11 GMT

@Anonymous wrote:

What were the reasons citi gave for the decline? Are you a citi banking customer?

dunno just checked app status online.. And no we havent used citi in 10+years for banking

Re: Post chase app spree

youngandcreditwrthy — Wed, 02 Oct 2013 23:27:41 GMT

I would complain to the CFPB, BBB, and AG.
Also, maybe even report to the OFTS.

Re: Post chase app spree

swpopham — Wed, 02 Oct 2013 23:28:55 GMT

@youngandcreditwrthy wrote:
I would complain to the CFPB, BBB, and AG.
Also, maybe even report to the OFTS.

Nah, Facebook and twitter are better

Re: Post chase app spree

Anonymous — Wed, 02 Oct 2013 23:32:02 GMT

@young, what would the basis of the argument be? From what I have seen in this example all Chase has done is to is manage risk.

@swpopham, call citi apps status. They should be able to tell you over the phone.

Re: Post chase app spree

09Lexie — Wed, 02 Oct 2013 23:33:33 GMT

So, the accts they have targeted were your wife's and she is no longer employed. Correct?
If they knew it now or not seems to be an issue with her and debt. If you have multiple lenders reacting the same way I think its time to look at how your portfolio is being presented.

@young

I see no reason to complain. Banks may take AA at anytime. It is within their rights as a lender and within your rights as a consumer to move on. We talk about closing accounts all the time here. In this case, the lender took action based on their risk guidelines. As an experienced member of myFICO, I would think you would be aware that AR are done all the time.