BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

[MidwestCredit]

Just got off phone with Chase after I spent the morning thinking I had identity theft! Received multiple emails from credit karma about credit increases and new accounts. Come to find out CHASE is having huge issues with INK business cards reporting all of sudden to consumer credit. 2 of my 8 company cards are reporting to personal credit, all in excellent standing. Chase is working on the issue and said it would be fixed by next billing cycle, they said it was a software issue. This is a major blow to any business owner in middle of any personal refinance or vehicle purchase. Just FYI! Chase credit department direct line 888-682-8361. 

[Patient957]

Kind of crazy that they're needing an entire billing cycle to correct the issue.  I'm not affected, but I can imagine how incredibly inconvenient this could be to someone working on a mortgage app, for example.  Potentially devastating.

[GreatLife]

I'll respect the forum and only suggest:

'Changes for thee but none for me!'

[TimFlorida]

My Business Unlimited ink is as well.  Equifax 8 drooped -24 today.

[MidwestCredit]

This is a huge mistake for Chase. Hopefully it doesn't adversely affect anyone's personal lines. Amex is known to cut limits and cut credit lines quickly if they see too much utilization - most business owners hold very high utilization on business cards. 

[TimFlorida]

Yeah, mine was sitting at 63% util when reported.  I paid it down to 51% today but my statement had already cut and unless they fix the problem, mine won't get updated for another month.

[MidwestCredit]

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@TimFlorida wrote:

Yeah, mine was sitting at 63% util when reported.  I paid it down to 51% today but my statement had already cut and unless they fix the problem, mine won't get updated for another month.

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Chase rep did inform me that it would be taken off at next "statement". However I went ahead and disputed the two accounts today to the credit bureaus. Dropped me almost 100 points. I have an ink with a 59k limit - 56k reporting balance, paid in full each month..  Definitely dragged that SOB fico right into gutter! 

[SMB85]

Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

[ocheosa]

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@SMB85 wrote:

Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

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Yep. So many businesses have not yet recovered from covid and the relentless natural disasters. Compounded with these types of stunts and upcoming economic issues, it's about to get real painful. I recall an old jingle each time there's breaking news, "you asked for it, you got it, toyota!"

At this point I basically mirror Arthur in "Forget Paris" (1995)

[MidwestCredit]

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@ocheosa wrote:

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@SMB85 wrote:

Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

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Yep. So many businesses have not yet recovered from covid and the relentless natural disasters. Compounded with these types of stunts and upcoming economic issues, it's about to get real painful. I recall an old jingle each time there's breaking news, "you asked for it, you got it, toyota!"

At this point I basically mirror Arthur in "Forget Paris" (1995)

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Today I got another alert! A 3rd chase ink card reported. This time is was a premier card but showed credit limit as ($2k) which is false and a statement balance of $8k and on my report showing 400% over credit limit. Dropped from high 700s to now 550. Called Chase again and they said it may take up to 30 days to fix! Crazy!!?