Chase Bank

[ridgebackpilot]

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@FinStar wrote:I believe these things are periodic portfolio reviews and adjustments that are done behind the scenes to an extent.  I'm CPC as well and a few years back they automatically lowered the APR on 2 previous legacy cards.  So, while not many posts are celebratory around these parts with regard to automatic APR reductions, they do happen. 

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Interesting DP! When Chase lowered the APR on your legacy cards, did they notify you? Or did you just see the lower APR one day?

A couple of years ago when my scores were lower, Chase gave me a balance-chasing CLD on two of my cards. That was despite my status as a CPC. And even though my scores are far higher today, they've never restored my SL on those cards... It must have been one of those "periodic portfolio adjustments" you mentioned, although that particular one didn't work in my favor!

[FinStar]

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@ridgebackpilot wrote:

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@FinStar wrote:I believe these things are periodic portfolio reviews and adjustments that are done behind the scenes to an extent.  I'm CPC as well and a few years back they automatically lowered the APR on 2 previous legacy cards.  So, while not many posts are celebratory around these parts with regard to automatic APR reductions, they do happen. 

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Interesting DP! When Chase lowered the APR on your legacy cards, did they notify you? Or did you just see the lower APR one day?

A couple of years ago when my scores were lower, Chase gave me a balance-chasing CLD on two of my cards. That was despite my status as a CPC. And even though my scores are far higher today, they've never restored my SL on those cards... It must have been one of those "periodic portfolio adjustments" you mentioned, although that particular one didn't work in my favor!

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Yes, I was notified in writing via snail mail of the APR reductions.   This was the original Freedom Exclusives CC that I was approved in 2008 and the CSP (circa 2015 I believe).  Status as CPC is irrelevant for APR reductions, though.  Typically, based on a variety of different factors, periodic adjustments are made to spur profitability on certain accounts.  To a customer it feels like a "reward"; but to the bank, carrying a balance or fee income. 

[difringe]

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@ridgebackpilot wrote:

I suspect one reason Chase has never given me a CLI is that I've opened a number of cards with them, including two Ink Business Preferred cards. Chase counts the business cards (one of which has a $100K SL) as part of my total credit "exposure" with the bank. When I applied for the Amazon Prime VISA last year, I was initially denied because I had reached my exposure limit. I was able to get the card with a $10K SL upon recon, but it was pretty clear that despite my long and deep relationship with Chase, I've reached my current limit with them.

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OK, this gives some more context, but still, comparing the ease at which people can get credit from other places (although you do have a $100k business card lol) with the struggle getting CLI without an HP from Chase, really makes me wonder if it's all worth it (especially since I don't own a business)

[Anonymous]

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@difringe wrote:

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@Anonymous wrote:

I did double my CFU CL twice: one auto and one HP. As for the APR's though, I've had two different underwriters tell me "Chase does not do APR decreases." My CFU APR is the highest in the range, and my CF APR is the lowest in the range. Heh.

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So from your signature, they approved you for $500, then doubled you twice?  I'm not particularly concerned about having to do a hard pull for CLIs, but it's crazy to look at your Discover having a $10+ CL and Chase seeming so stingy.

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Bingo. I did have a lot of swipes in the month leading up to each CLI though (~30). It seems that the number of swipes means more to Chase than the total dollar amount. I also suspect my issue with Chase may be my part-time income, so I'm not an average data point either.

[difringe]

I did end up opening a checking account with Chase to get that new account bonus, and suddenly I'm seeing pre-qualified offers that I didn't see before I got a Chase card lol. Will probably wait until the summer to apply though

[jdbkiang]

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@difringe wrote:

I did end up opening a checking account with Chase to get that new account bonus, and suddenly I'm seeing pre-qualified offers that I didn't see before I got a Chase card lol. Will probably wait until the summer to apply though

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Not to try to change your mind or anything, buuuuut if you have a green checkmark offer, that's as good as it gets. Of course, you may have other reasons for waiting, but just wanted you to know for sure.