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Chase reducing credit lines

red259
Super Contributor

Chase reducing credit lines

Chase like other lenders seems to be tightening up on unused credit. I got a letter from them recently indicating that they have decided NOT to reduce my credit line for lack of use upon further review of my account like they said the would in initial letter. The kicker is I never got an initial letter from Chase telling  me that they were going to lower my credit line for lack of use in the first place. Luckily I had recently put some transactions through the card and that apparently made Chase back off, but otherwise I would not have known until they cut my line. So make sure you are putting some spend on all your chase cards. Also, I have a different chase card that has seen a significant amount of spend recently so I am not sure if maybe that is what made them back off. Still I would just make sure to give your lesser used cards a bit of love if you want to keep the credit line where it is. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 1 of 17
16 REPLIES 16
Dinosaur
Moderator Emeritus

Re: Chase reducing credit lines


@red259 wrote:

Chase like other lenders seems to be tightening up on unused credit. I got a letter from them recently indicating that they have decided NOT to reduce my credit line for lack of use upon further review of my account like they said the would in initial letter. The kicker is I never got an initial letter from Chase telling  me that they were going to lower my credit line for lack of use in the first place. Luckily I had recently put some transactions through the card and that apparently made Chase back off, but otherwise I would not have known until they cut my line. So make sure you are putting some spend on all your chase cards. Also, I have a different chase card that has seen a significant amount of spend recently so I am not sure if maybe that is what made them back off. Still I would just make sure to give your lesser used cards a bit of love if you want to keep the credit line where it is. 


Good information as Chase noticed me for the same thing on a business card. Reason was under utilization (so you know they are correct - they did the same thing in 2008 and 2017). Did get a snail mail letter!

Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 2 of 17
CreditCuriosity
Moderator

Re: Chase reducing credit lines

Hmm didn't know chase was going through this for some.  Just shows any lender can or will do so shrug.

Message 3 of 17
K-in-Boston
Moderator

Re: Chase reducing credit lines

I appear to be unaffected.  Are these very large unused lines that are being gutted?  Other than Freedom categories, I haven't given Chase much love the past year or so and never bothered to reallocate my CFU limit back to CSR after I paid off the intro BT.

Message 4 of 17
red259
Super Contributor

Re: Chase reducing credit lines


@K-in-Boston wrote:

I appear to be unaffected.  Are these very large unused lines that are being gutted?  Other than Freedom categories, I haven't given Chase much love the past year or so and never bothered to reallocate my CFU limit back to CSR after I paid off the intro BT.


This happened on one my my non-AF ink cards. Credit line on that particular card isn't that large it is about $12k. I only use the card for specific charges so maybe run $300-$400 a month through it. I have been using other Chase cards pretty heavily though the last 2 or 3 months. It is a bit annoying because I reduced my own business limits by a substantial amount several months ago in hopes of freeing up some credit on the future apps. This is a card I have had for several years.  

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 5 of 17
BearsCubsOtters
Frequent Contributor

Re: Chase reducing credit lines


@Dinosaur wrote:

@red259 wrote:

Chase like other lenders seems to be tightening up on unused credit. I got a letter from them recently indicating that they have decided NOT to reduce my credit line for lack of use upon further review of my account like they said the would in initial letter. The kicker is I never got an initial letter from Chase telling  me that they were going to lower my credit line for lack of use in the first place. Luckily I had recently put some transactions through the card and that apparently made Chase back off, but otherwise I would not have known until they cut my line. So make sure you are putting some spend on all your chase cards. Also, I have a different chase card that has seen a significant amount of spend recently so I am not sure if maybe that is what made them back off. Still I would just make sure to give your lesser used cards a bit of love if you want to keep the credit line where it is. 


Good information as Chase noticed me for the same thing on a business card. Reason was under utilization (so you know they are correct - they did the same thing in 2008 and 2017). Did get a snail mail letter!


+ 1

 

I have been watching the business forum to see if I was the only one. I received a letter on my Ink Unlimited last week. They are cutting the limit in half.

 

It seems that they are taking our credit lines away to give them to Amazon cardholders.....

 

I am closing the Ink Unlimited once the next cycle cuts so that I can move my points to my Ink Cash. I am not angry and they are correct that I have not been utilizing the card. Maybe if they made it a 2% card I would. 

Message 6 of 17
TSlop
Valued Contributor

Re: Chase reducing credit lines

I wouldn't be surprised if they did that to me. I only use a fraction of the limits that they gave me (no CLIs, but I have shifted them around twice I think). I just had a ~$800 statement on my CFU, which is high for me. I'm planning on apping for a CFF after December 4th, and I am most likely going to close my CF first. I'd imagine I'm close to their internal limit anyway.


Message 7 of 17
4sallypat
Established Contributor

Re: Chase reducing credit lines

I would not be surprised if Chase cuts all my current zero balance cards as I was turned off from their denial for the 250K SUB Marriott card they had...

 

Have no need to spend on my 3 Chase cards even for the holidays.

 

Still have a sour taste of them so they are all sock drawered.

 

 

Message 8 of 17
Yasselife
Frequent Contributor

Re: Chase reducing credit lines

@red259 

Can you describe the lack of use with Chase, how many months and amount before the AA?



Message 9 of 17
red259
Super Contributor

Re: Chase reducing credit lines


@Yasselife wrote:

@red259 

Can you describe the lack of use with Chase, how many months and amount before the AA?


I have spent the roughly same amount for years on the card. My behavior didn't change their analysis did. It wasn't an unused card it was just was an underutilized card. In the end they changed their mind but others may not be as lucky. The comment about amazon cards is interesting. I hear that people are getting approved for chase amazon cards and even southwest cards even though they are over 5/24. Think chase is really trying to encourage more amazon accounts and offering bigger credit lines than normal on amazon cards. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 10 of 17
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