topic Re: Chase CLD. in Credit Cards

Max it out? SD?

tcbofade — Tue, 01 Apr 2014 00:07:49 GMT

OK, so Chase CLD'd DW.

She called them this morning and they DID restore her original credit line. $7,500.

She has about $3,500 on it and we WERE planning to use another $2 or $3k on it to buy groceries for the next few months.

NOW we don't trust it.

We've still got the ability to BT TO the Slate from other cards, and are debating transferring 3K or so MORE on to the card while it's still at a zero percent interest rate and free up available credit on other accounts...that she's had for years and have NEVER lowered her credit line.

Are we cutting off our nose to spite our face?

Chase CLD.

tcbofade — Sun, 30 Mar 2014 23:04:25 GMT

don't know why yet, but DW's Slate just went from $7,500 to $4,000.

It WASN'T maxed out, but it is now.

No late payments, more than the minimum every month...sent a secured message this morning and haven't heard back yet.

GRRRRR.

Re: Chase CLD.

Anonymous — Sun, 30 Mar 2014 23:11:30 GMT

I would recommend that she calls their lending department to find out the reason and appeal it. The number to reach an analyst can be found in the backdoor number listings. Best of luck!

Re: Chase CLD.

vpae — Sun, 30 Mar 2014 23:12:19 GMT

@tcbofade wrote:
don't know why yet, but DW's Slate just went from $7,500 to $4,000.

It WASN'T maxed out, but it is now.

No late payments, more than the minimum every month...sent a secured message this morning and haven't heard back yet.

GRRRRR.

What are her scores and utilization like? Are there other cards that are almost maxed out? They must have saw something they didn't like. Did she open a lot of other cards recently?

Sorry to hear this, it's so frustrating. I had Capital One balance chase me on my Best Buy MC a while back, they wouldn't raise it, not even after contacting EO. I SD'd it.

Re: Chase CLD.

Uppingmyscore — Sun, 30 Mar 2014 23:46:38 GMT

This is only an assumption.....if yours and your wife both have high ulitization and you applied for the Slate I believe a couple weeks with a lot of inquiries they must gotten concern. They must see you as a risky card holder even if your paying slightly more than the minimum. Just my guess. Hope you get this straighten out before others start balance chasing you as well.

Re: Chase CLD.

Shock — Mon, 31 Mar 2014 00:01:16 GMT

My 1k freedom is almost maxed out. Im planning on letting it cut and carry a balance because on th 0% promo. Should I be worried of a CLD?

Re: Chase CLD.

Anonymous — Mon, 31 Mar 2014 00:04:52 GMT

@Shock wrote:
My 1k freedom is almost maxed out. Im planning on letting it cut and carry a balance because on th 0% promo. Should I be worried of a CLD?

I wouldn't be so long as you don't do anything that would likely draw their attention (lates, many new inquiries and accounts, etc). I did this on an older account with Chase before and never had AA taken against me.

Re: Chase CLD.

Anonymous — Mon, 31 Mar 2014 01:05:08 GMT

@tcbofade wrote:
don't know why yet, but DW's Slate just went from $7,500 to $4,000.

It WASN'T maxed out, but it is now.

No late payments, more than the minimum every month...sent a secured message this morning and haven't heard back yet.

GRRRRR.

Call 1800-290-1316. This is the Chase lending department that deals specifically with adverse action. Before you call, be prepared to answer about any questions regarding your Chase accounts, contents within your credit report and income.

If they are unable to reverse the adverse action, then call executive office as the last step.

Re: Chase CLD.

tcbofade — Mon, 31 Mar 2014 11:28:18 GMT

She will call them later today.

After we closed on the house, (29 November) we both opened several new trade lines...all inquiries and new accounts were in December of 13, she has no inquiries this year, and NONE of her cards are maxed out. Two or three might be just over 50%, but NOW the Slate will report maxed next month... GRRRR.

Re: Chase CLD.

Kenny — Mon, 31 Mar 2014 12:00:27 GMT

@tcbofade wrote:
She will call them later today.

After we closed on the house, (29 November) we both opened several new trade lines...all inquiries and new accounts were in December of 13, she has no inquiries this year, and NONE of her cards are maxed out. Two or three might be just over 50%, but NOW the Slate will report maxed next month... GRRRR.

Call the number enharu stated. She might be able to turn this around.

Re: Chase CLD.

takeshi74 — Mon, 31 Mar 2014 14:04:03 GMT

@tcbofade wrote:
No late payments, more than the minimum every month...sent a secured message this morning and haven't heard back yet.

Minimums do not matter. Utilization does. What was utilization like leading up the CLD?

@tcbofade wrote:
Two or three might be just over 50%

That is high. 30% is the general recommendation for maximum. How long have they been there?

Re: Chase CLD.

Anonymous — Mon, 31 Mar 2014 16:48:41 GMT

Please keep us updated, hopefully chase will reconcider

Re: Chase CLD.

tcbofade — Mon, 31 Mar 2014 23:58:32 GMT

Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt. She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.

Re: Chase CLD.

gdale6 — Tue, 01 Apr 2014 00:01:10 GMT

@tcbofade wrote:
Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt. She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.

Grats on the restoration. If you are borderline as Chase evidently sees her, an instalment loan or rehab second mortgage for some of those repairs maybe in order or you may find more of this from other creditors.

Re: Chase CLD.

tcbofade — Tue, 01 Apr 2014 00:09:53 GMT

@gdale6 wrote:
@tcbofade wrote:
Thanks all.

DW called this morning, and they restored her credit line.

The man she spoke to mentioned her recent new accounts and her quickly increasing debt. She acknowledged that he was correct on both counts and explained that we just purchased a home and are well aware that we're rapidly acruing more debt as we rebuild it.

Her overall util is a bit under 40% as of last week, and will probably get worse before it gets better.
Grats on the restoration. If you are borderline as Chase evidently sees her, an instalment loan or rehab second mortgage for some of those repairs maybe in order or you may find more of this from other creditors.

Can't pull a second mortgage until AFTER 29 November. Wouldn't be worth anything to refinance the 1st until AFTER 29 November. (under 12 months, they'll use the same appraisal...)

Re: Max it out? SD?

SunriseEarth — Tue, 01 Apr 2014 00:11:36 GMT

@tcbofade wrote:
OK, so Chase CLD'd DW.

She called them this morning and they DID restore her original credit line. $7,500.

She has about $3,500 on it and we WERE planning to use another $2 or $3k on it to buy groceries for the next few months.

NOW we don't trust it.

We've still got the ability to BT TO the Slate from other cards, and are debating transferring 3K or so MORE on to the card while it's still at a zero percent interest rate and free up available credit on other accounts...that she's had for years and have NEVER lowered her credit line.

Are we cutting off our nose to spite our face?

I wouldn't chance it. Quit using it and pay it off. Clearly they grew nervous about something they're seeing.

Re: Max it out? SD?

Uppingmyscore — Tue, 01 Apr 2014 00:18:05 GMT

Glad they reinstated the CL. This is just me....I would concentrate on reducing my debt and use cash only. That's how I would handle it if it was me.

Re: Chase CLD.

myjourney — Tue, 01 Apr 2014 00:41:11 GMT

Glad the account was restored ...

Question I see your expecting to go higher in UTL? If it's not to personal and I understand if it is....

Is this due to new renovations you have planned?

Re: Max it out? SD?

adavis425 — Tue, 01 Apr 2014 00:43:57 GMT

@Uppingmyscore wrote:
Glad they reinstated the CL. This is just me....I would concentrate on reducing my debt and use cash only. That's how I would handle it if it was me.

Me too...

Re: Chase CLD.

tcbofade — Tue, 01 Apr 2014 00:51:06 GMT

@myjourney wrote:
Glad the account was restored ...
Question I see your expecting to go higher in UTL? If it's not to personal and I understand if it is....
Is this due to new renovations you have planned?

Not too personal at all, that's why I asked...

We THINK that we've already spent most of the dollars that we'll need to for rehabbing the house...but time will tell.

so um.... yes.