topic Re: Which banks are more likely to Balance Chase in General Credit Topics

Which banks are more likely to Balance Chase

glowplug — Thu, 13 Jun 2024 16:51:05 GMT

Granted, this varies by a borrowers situation, but which banks are notorius for Balance Chasing?

Re: Which banks are more likely to Balance Chase

JoeRockhead — Thu, 13 Jun 2024 16:58:54 GMT

They will all balance chase if the red flags trigger their criteria for adverse action... But, I'd say Synchrony is most notorious for CLDs and closing down accounts altogether over what sometimes seems like irrational, or even no reasons at all.

Re: Which banks are more likely to Balance Chase

Slabenstein — Thu, 13 Jun 2024 16:59:31 GMT

The answer to which banks are more likely to balance chase is all banks. Any bank or CU will do this when a balance-carrying cardholder appears sufficiently risky to them.

Re: Which banks are more likely to Balance Chase

GZG — Thu, 13 Jun 2024 17:20:51 GMT

@glowplug wrote:
Granted, this varies by a borrowers situation, but which banks are notorius for Balance Chasing?

Synchrony/Comentity > banks > Cap1 > CUs

Re: Which banks are more likely to Balance Chase

pizzadude — Thu, 13 Jun 2024 18:03:53 GMT

Can't balance chase without a "Chase"

Honestly though it really depends on individual profiles but I think the better question is what conditions would trigger this. For example if someone remains maxed out across all revolving credit I'd almost certainly expect this to happen.

Re: Which banks are more likely to Balance Chase

MissLiz — Thu, 13 Jun 2024 18:16:35 GMT

When my dominos started to fall, Discover was the first to balance chase me - all the way down to zero, then account closed by creditor.

Re: Which banks are more likely to Balance Chase

FicoMike0 — Fri, 14 Jun 2024 00:41:04 GMT

I think (hope) that having accounts spread over several banks helps. Right now I have 8 accounts with 6 banks.

Re: Which banks are more likely to Balance Chase

blossom_rebuilding — Tue, 18 Jun 2024 22:40:24 GMT

I've been balance chased by Amex, but they stopped when the limit got down to $3900. It took awhile after my entire credit profile improved, but they eventually did start granting CLIs again. I feel lucky that they didn't close the account altogether.

Re: Which banks are more likely to Balance Chase

GreatLife — Wed, 19 Jun 2024 13:55:36 GMT

Last year when my aggregate remained at approx 38% for a few months both AMEX & PNC chased me directly to bare minimums, $1K and $1800 respectively. AMEX eventually rebounded to original CL but PNC hasn't budged and sleeps in a sock drawer. ☺️

Re: Which banks are more likely to Balance Chase

SouthJamaica — Wed, 19 Jun 2024 17:07:03 GMT

In my case I've been balance chased by these institutions in this order:

1. Sofi

2. Discover

3. Chase

4. PenFed

Re: Which banks are more likely to Balance Chase

gregbowers — Tue, 25 Jun 2024 09:14:58 GMT

Banks like Chase, American Express, Citi, and Barclays are known for occasionally reducing credit limits based on factors such as credit utilization and overall creditworthiness. It's important to stay aware of your credit profile and monitor your accounts regularly to minimize the risk of unexpected credit limit reductions.

Re: Which banks are more likely to Balance Chase

Slabenstein — Wed, 26 Jun 2024 14:52:27 GMT

@gregbowers wrote:
Banks like Chase, American Express, Citi, and Barclays are known for occasionally reducing credit limits based on factors such as credit utilization and overall creditworthiness. It's important to stay aware of your credit profile and monitor your accounts regularly to minimize the risk of unexpected credit limit reductions.

Thank you, kind bot, for the contribution of your character strings to this thread.

Re: Which banks are more likely to Balance Chase

TrapLine — Thu, 27 Jun 2024 07:22:48 GMT

@glowplug wrote:
Granted, this varies by a borrowers situation, but which banks are notorius for Balance Chasing?

A little different approach but along the same line. Provide as an FYI. Chase has sent me USPS notifications of CL reductions on my personal and small business accounts because they did not feel my utilization was where they wanted it (I alway pay in full). Will admit I do have slow periods and the spend is quite small. My Chase has been from 2006 to today. After due consideration I have contacted Chase in all three occassions for each card account and got the CLs reinstated to where they were (Fico 08 at 850 during this time). Frankly, I find other financials that have products better suited to my spend and that is where my spending occurs. For a further comment, Chase has had between six to eight personal and business card offers "preapproved" for a year now.

Get's better, I was going to close my Discover Card as I do not want to move over to Cap1 (been there and have done that before back in 2008). So I contacted Discover to close the account. They talked me into holding off but reduced my CL by $17K. Now Chase sees this and withdraws my personal card "preapprovals," so they definitely are tracking my every action. If it were not for my Ultimate Rewards I would close them. And yes, they really do have good products just not for every body.

Re: Which banks are more likely to Balance Chase

creditmemo — Mon, 01 Jul 2024 02:52:21 GMT

I think Synchrony gets a bad rap cld-wise, but no better or worse than anyone else (?).

That "poke the bear" gif is stuck on Sync though, aaaand I've poked it enough already.

Re: Which banks are more likely to Balance Chase

cashcardscore — Mon, 01 Jul 2024 15:03:29 GMT

BOA for me. $4900 blance, $4900 CL.

That account was closed a long time ago. Good ridance.

Re: Which banks are more likely to Balance Chase

Thomas_Thumb — Mon, 01 Jul 2024 17:03:00 GMT

@creditmemo wrote:
I think Synchrony gets a bad rap cld-wise, but no better or worse than anyone else (?).

That "poke the bear" gif is stuck on Sync though, aaaand I've poked it enough already.

How is the BOT business these days?