About two months ago I was approved for a chase ink card. In order to open it I had to move 5k off of my csp and I got a starting line of 5k on my ink bold. Last month i used the card with no problem and PIF. This month I started getting declines even though I have not used the full line. I end up calling in because I can't even pay the cable bill and I am informed that my credit line had been lowered to 3.5k (apparently no flex) without any notice to me. The initial CSR couldn't provide any explanation as to why the reduction occured and indicated that there was nothing she could do. After a couple of minutes of me ranting (seriously I was irritated about the complete lack of notice and apparent lack of reason being provided) she finally transferred me to someone who could look at the account and see why the reduction occurred. The second CSR actually couldn't tell me either, but instead mentioned things that could cause the system to lower the line like late payments. Of course, I PIF by the due date so I am not sure how that explains what happened with the card. Then I was asked a whole number of questions about my business some of which were quite detailed (like specifics about what my company does in my particular industry). This is all stuff I was asked upon the initial application so I am not sure why I needed to answer all these questions again. Finally to her credit she reinstated my line back to the 5k. Apparently these reductions can be done by their computers without manual review. I'm not pleased with Chase at the moment, but at least my line is back where it started.
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I didn't even know you had to move CL over if you were approved for a charge card. :-/ Weird. I'm sure this will be moved to business, though, for better exposure.
@KennyRS wrote:
I didn't even know you had to move CL over if you were approved for a charge card. :-/ Weird. I'm sure this will be moved to business, though, for better exposure.
I don't know about "better" exposure, since it seems like this forumn is much more active. I posted this here because it involved moving a personal credit line and then having it reduced a month later, so I thought it may fall into both categories.
@red259 wrote:
@KennyRS wrote:
I didn't even know you had to move CL over if you were approved for a charge card. :-/ Weird. I'm sure this will be moved to business, though, for better exposure.I don't know about "better" exposure, since it seems like this forumn is much more active. I posted this here because it involved moving a personal credit line and then having it reduced a month later, so I thought it may fall into both categories.
I agree, but bold is a business card.
I'm curious if other business card holders have had this occur with them before.
