Navy Federal Thread for CLI and Additional Cards

[FesteringTTT]

Thanks. I have 13 inquires in past 24 months according to Chase Credit Journey and C1 credit wise. I have a TU of 658-652 based on those 2 and Discover. My oldest account is 16 years. I don't have anything that lists average age of account. I don't have access to the other scores and don't want to pay until I get the last 2 collections cleared (4k Citi which is paid and 1600 Credit One that I'm negotiating to pay right now). In my wallet and credit limits:

Amex Hilton Aspire - 3100 (just received last week)

Cap1 QuickSilver One - 2000 (got in March, use and pay in full each month)

Discovery It - 500 (use and pay in full each month)

First Premier - 400 (don't use, no balance)

Ollo - 600 (recurring Netflix each month, pay in full)

First Access - 300 (don't use, no balance)

Surge - 500 (don't use, no balance)

I also have a closed Chase Freedom with a 5k balance and a Sapphire with a 9k balance that I'm paying. Neither reports as late. Chase randomly and without notice closed them at the beginning of this year. 

[Anonymous]

Were you late on your credit card payments with Chase? Is that why they closed?

[FesteringTTT]

No. I haven't been late on anything since 2018 and never late on Chase, they just randomly cancelled. There's a bunch of posts on here and elsewhere about it happening to a bunch of people. Almost as if they foresaw the recession and cancelled folks they thought were high risk. 

[addicted_to_credit]

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@FesteringTTT wrote:

No. I haven't been late on anything since 2018 and never late on Chase, they just randomly cancelled. There's a bunch of posts on here and elsewhere about it happening to a bunch of people. Almost as if they foresaw the recession and cancelled folks they thought were high risk. 

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Those two chase cards even though they are not reporting as late, they're definitely showing up maxed out since your available credit is 0. I'd address them with a quickness  especially with a 400k income... I guarantee you that is playing a large part in tanking your scores. 

[Anonymous]

That's terrible that they could just cancel your card like that - no warning. No valid reason - you're never late. Scores may have dropped but to just outright cancel the account - scary. I will never apply for a Chase card. Makes me nervous that they could damage my credit like that for absolutely no reason. 

[FesteringTTT]

yeah, the best reason I could determine was "cycling." meaning, I had a 10k limit and had about 15k spend a month on it. So I would make multiple 4-6k payments in a cycle. apparently chase doesn't like that. seems dumb to me but I don't make the rules.

it did teach me to have more diversity of my lenders, so it was a good lesson to learn fairly early in life. before that, I had 3 cards with chase and the discover, that's it.

[Anonymous]

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@Anonymous wrote:

That's terrible that they could just cancel your card like that - no warning. No valid reason - you're never late. Scores may have dropped but to just outright cancel the account - scary. I will never apply for a Chase card. Makes me nervous that they could damage my credit like that for absolutely no reason. 

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@Anonymous There is no bank that I'm aware of that will give you warning before closing an account, except in instances where the account has not been used for a while.  And they aren't legally obligated to do so either.  If you had advance warning of a closing you could, for example, run up your balance to the maximum allowed and cause the bank to sustain a loss.

[Anonymous]

I'd quickly payoff both cards ASAP!!!

[mrshulkisloislane]

"Right now they are SPs and so worst case you get declined and try again later."  Right now what is a sp?

[Anonymous]

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