Since my credit has significantly improved over the past year, going from the high 500's to where it is in my sig every single lender I'm a customer of has improved the terms of my account in some way, CLI's or APR reductions even if it was only temporary, PC's etc. All except Chase, not one CLI or APR reduction. So, that's fine. I called tonight to see what I can do to improve my chances of receiving better terms. I was told they never reduce APR. I was told they offer SP CLI's in certain situations and other times HP CLI's. I asked what needs to be done to get a SP CLI and was told "there's no reason, we do it because we can". I laughed at the absurdity of the comment and said I'm just looking to see what I can do to be eligible for that. I was flat out told it's RANDOM and that nobody who receives a SP CLI did anything to make their account eligible.
Not buying it. So, has anyone here received a CLI with Chase with only a SP, and if so did Chase tell you the reason you were eligible?
So to the best of your knowledge, all who have responded, is there anything you can do to increase your chances of a SP? The guy literally told me the process is random. He also told me there's no way for anyone to speak with the Chase EO. I told him I just spoke with them a few months ago, lots of silence followed.
At any rate, they are unwilling to improve my terms while literally every other provider has done that, so when my balance is resolved with them I'm closing both accounts. I see no reason to stay with a company that doesn't grow along with your credit.
@Anonymous wrote:
@dapps06 wrote:So to the best of your knowledge, all who have responded, is there anything you can do to increase your chances of a SP? The guy literally told me the process is random. He also told me there's no way for anyone to speak with the Chase EO. I told him I just spoke with them a few months ago, lots of silence followed.
At any rate, they are unwilling to improve my terms while literally every other provider has done that, so when my balance is resolved with them I'm closing both accounts. I see no reason to stay with a company that doesn't grow along with your credit.
We don't know how Chase determines when to give a SP CLI. If you use your card and make payments, you wil get a CLI in due time. Why are you anxious to close your accounts if they don't come through with a CLI?
Chase has some of the best credit products on the market. Why not build a relationship instead of discarding them because of a CLI? How often do you use their cards?
It's not that I couldn't get a CLI, it's that when I asked what I can do to improve my chances I want an honest answer. Before I called Chase I called Discover and asked the same question. The woman I spoke with plainly stated that if I wait one or two more statement periods I will most likely get another CLI because my UTL dropped significantly as did my total CC debt. This is the answer I'm looking for, give me something to work with.
Chase refused to give me such an answer. In terms of lowering my APR, he said that Chase NEVER lowers APR because it's what you agreed to when you opened the account. I informed him that it's what consumers agree to because that's what their credit profile is worth AT THE TIME. To say that if someones credit profile improves you will never adjust the APR regardless is a policy I wasn't aware of and one I won't tolerate. If improving your credit worthiness won't eventually better your terms, then our entire credit reporting system is a sham and becomes completely worthless. Like I said, every other lender I deal with has rewarded me for my improved credit, every lender other than Chase. They may have decent products but they aren't so important to me that I'm going to swallow a 23 percent APR regardess of my vastly improved credit. I'll happily stick with Discover and Cap One, they've been great to work with.
@FinStar wrote:
@Anonymous wrote:
@dapps06 wrote:So to the best of your knowledge, all who have responded, is there anything you can do to increase your chances of a SP? The guy literally told me the process is random. He also told me there's no way for anyone to speak with the Chase EO. I told him I just spoke with them a few months ago, lots of silence followed.
At any rate, they are unwilling to improve my terms while literally every other provider has done that, so when my balance is resolved with them I'm closing both accounts. I see no reason to stay with a company that doesn't grow along with your credit.
We don't know how Chase determines when to give a SP CLI. If you use your card and make payments, you wil get a CLI in due time. Why are you anxious to close your accounts if they don't come through with a CLI?
Chase has some of the best credit products on the market. Why not build a relationship instead of discarding them because of a CLI? How often do you use their cards?
OP - both Irish and Yes-Its-Me are correct. Any customer-initiated requests would not be SP. IIRC, it's been pretty rare when these occur (if even recently). IME, I have received auto-CLIs as well as emails solicitations with the (SP) CLI option. There is no set time when these occur. Some could be pegged on personal high usage other could be on my profile or just their overall marketing.
With Chase, you'll never be able to predict an exact timeframe when these can occur. Some folks have received auto-CLIs as early as a few months from opening their accounts, some within 6 months others beyond the 12-month mark. There will be cases in which individuals will not get them and will result in HP regardless if requested by phone or SM.
The decision is up to you if you want to close your accounts (albeit silly if you don't get what you want under your own terms). An HP is not the end of the world.
I just wanted to know what someone can do to better their chances of the SP CLI. An answer of "it's random" is not acceptable. He made it sound as if they put customer pictures up on a wall and blindly throw darts. Nonsense, there is a method to who gets them and why. Now, if he said "we don't discuss our methods with customers", that's fine. But to say it's random is just something I can't deal with.
I've been with Chase for a year. No late payments and I've put FAR more money through Chase cards than probably all of my other cards combined. No CLI's of any kind, no APR reduction, no offers of any kind. So maybe it boils down to I just don't put enough through the cards to satisfy them, fine. I'll never put more through than I already do, so if that's the issue then leaving them becomes the right thing to do anyway.
You may think it's "silly" to leave a company because I'm not getting what I want under my own terms, but the reality is every other credit provider agrees with my stance. This is proven in how they deal with their customers, not one account I have is the same as when I opened it other than with Chase. This shows other lenders are perfectly willing to adapt to your changing credit situation. Why would I ever stick with a permanent 23 percent APR? The credit profile that APR applies to is no longer associated with me. I don't have that credit any longer and therefore I'm not going to be punished as if I do. You find this "silly", I find it to be common sense. I've put pennies through my Discover card vs what I've put through my Chase cards, my Discover card is also only four months old and in month three I was given a small increase. Why can't Chase do this? Who knows, but I'll let some other customer take my place and pay an absurd APR so as to not look "silly".