topic Re: Chase CLD in Credit Cards

Chase CLD

sccredit — Wed, 13 Nov 2013 19:58:43 GMT

Logged into my Chase account this morning and saw that my Freedom card went from a $10k Cl to $5k. I called to find out why and they said that it was because of "increasing credit obligations". When pushed for further explanation she said she wasn't sure if it was the increasing credit lines or increasing balances. I asked her how she would possibly see increasing balances and she said "In August 2012 you had $268 in credit card balances, now you have $4,000.

I tried to explain to her that the $4k was from my CSP statement and that if she looked close enough she would see that it was paid already. Didn't help any. She offered to restore the CL if I wanted to take a hard inquiry, I politely declined.

Re: Chase CLD

ac921ol — Wed, 13 Nov 2013 20:01:03 GMT

did you talk to the EO?

Re: Chase CLD

eddie84 — Wed, 13 Nov 2013 20:02:26 GMT

Man, that sucks when CL goes down like half or more. Hope your utility isn't too high.

Re: Chase CLD

sccredit — Wed, 13 Nov 2013 20:02:53 GMT

I have emailed them, we'll see what they say whenever there is a response.

Re: Chase CLD

starry1 — Wed, 13 Nov 2013 20:04:39 GMT

@sccredit wrote:
Logged into my Chase account this morning and saw that my Freedom card went from a $10k Cl to $5k. I called to find out why and they said that it was because of "increasing credit obligations". When pushed for further explanation she said she wasn't sure if it was the increasing credit lines or increasing balances. I asked her how she would possibly see increasing balances and she said "In August 2012 you had $268 in credit card balances, now you have $4,000.

I tried to explain to her that the $4k was from my CSP statement and that if she looked close enough she would see that it was paid already. Didn't help any. She offered to restore the CL if I wanted to take a hard inquiry, I politely declined.

A change from August 2012 to November 2013?! That doesn't even make any sense. I think yu got ahold of someone who doesn't know much. Have you tried the EO?

Re: Chase CLD

Anonymous — Wed, 13 Nov 2013 22:46:48 GMT

Try calling back door to reach an analyst. No need to call EO yet. Or if you are patient enough, wait for the letter.

Did you open a lot of cards or took up huge loan(s) recently? My guess is that your DTI went above what they would have preferred?

Re: Chase CLD

sccredit — Wed, 13 Nov 2013 23:34:31 GMT

@Anonymous wrote:
Try calling back door to reach an analyst. No need to call EO yet. Or if you are patient enough, wait for the letter.

Did you open a lot of cards or took up huge loan(s) recently? My guess is that your DTI went above what they would have preferred?

Purchased a new truck last week, traded in my Subaru that was financed by them but the payment difference is $100 a month on $9k a month in salary income (plus $4k a month in net business income). We'll see what the letter has to say.

I am not mad, I understand its all business to them, my total credit lines with them are $45k so its not like they don't have exposure out there. I only use the Freedom card for $1k a month on quarterly categories.

Re: Chase CLD

Anonymous — Thu, 14 Nov 2013 00:04:22 GMT

I think you should wait for the letter then.

Has the new truck loan showed up on your CR yet? If the previous car loan has yet to update as closed and paid off, and a new car loan is added on top of that during the meantime, it could have put you over their DTI threshold, even though its temporary. In situations like this, I think you have a good chance at getting your previous CL restored.

Re: Chase CLD

myjourney — Thu, 14 Nov 2013 00:11:20 GMT

I'm sorry this happened to you.. IMHO contact EO and see were that takes you since Chase recon is so good I assume the EO route is even better

Good luck

Re: Chase CLD

sccredit — Thu, 14 Nov 2013 17:13:15 GMT

@Anonymous wrote:
I think you should wait for the letter then.

Has the new truck loan showed up on your CR yet? If the previous car loan has yet to update as closed and paid off, and a new car loan is added on top of that during the meantime, it could have put you over their DTI threshold, even though its temporary. In situations like this, I think you have a good chance at getting your previous CL restored.

No, just bought it last week. No new reporting. I'll wait for the letter and decide

Re: Chase CLD

DigitalArk — Thu, 14 Nov 2013 18:40:29 GMT

Keep us posted.

Re: Chase CLD

djc1puno — Thu, 14 Nov 2013 21:51:08 GMT

very interested to hear what happens here...gl, op!