Chase CLI during COVID-19

[E_Fizzy]

In light of COVID-19, as you already know, many banks are offering relief to customers affected by the outbreak's financial effects.  Does anyone think that Chase will slightly loosen their tight reigns on their CLI policies with certain customers?  We all know they are notoriusly and historically restrictive with their CLI's. 

If a recession hits this summer, many banks will definitely begin to decrease unused CL's amongst the customer base, similar to 12 years ago.

Any thoughts?

[M_Smart007]

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@E_Fizzy wrote:

In light of COVID-19, as you already know, many banks are offering relief to customers affected by the outbreak's financial effects.  Does anyone think that Chase will slightly loosen their tight reigns on their CLI policies with certain customers?  We all know they are notoriusly and historically restrictive with their CLI's. 

If a recession hits this summer, many banks will definitely begin to decrease unused CL's amongst the customer base, similar to 12 years ago.

Any thoughts?

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If you can get it, this might be the time? .. as things progress ..who knows what Chase will do?

[Anonymous]

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@M_Smart007 wrote:

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@E_Fizzy wrote:

In light of COVID-19, as you already know, many banks are offering relief to customers affected by the outbreak's financial effects.  Does anyone think that Chase will slightly loosen their tight reigns on their CLI policies with certain customers?  We all know they are notoriusly and historically restrictive with their CLI's. 

If a recession hits this summer, many banks will definitely begin to decrease unused CL's amongst the customer base, similar to 12 years ago.

Any thoughts?

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If you can get it, this might be the time? .. as things progress ..who knows what Chase will do?

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Agreed. 

[mrfufoppss]

I called Card Services Yesterday and Asked where they doing any Emergency Relief CLI for Customers Affected by The Covid19 and he told me as of now they have nothing as of yet (But) they are about to Roll out Things of that nature to Help..I couldnt grab much out of what he said But (Wait and see)

[E_Fizzy]

Thanks!

[Fated4Credit]

As much as I would like a increase from Chase, don't want to waste a HP right now, waiting for August to do that when I app for a couple of cards. It would be perfect if Chase suspended HPs for CLIs during the coronavirus crisis. Probably not going to happen, but a girl can dream 😜

[longtimelurker]

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@mrfufoppss wrote:

I called Card Services Yesterday and Asked where they doing any Emergency Relief CLI for Customers Affected by The Covid19 and he told me as of now they have nothing as of yet (But) they are about to Roll out Things of that nature to Help..I couldnt grab much out of what he said But (Wait and see)

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I assume banks are finding it hard to plan because of the as yet unknown scale.   I can have a rough idea as to my probable exposure relating to say last years fires in CA, or a hurricane in ...., but this could be everywhere..

[ridgebackpilot]

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@mrfufoppss wrote:

I called Card Services Yesterday and Asked where they doing any Emergency Relief CLI for Customers Affected by The Covid19 and he told me as of now they have nothing as of yet (But) they are about to Roll out Things of that nature to Help..I couldnt grab much out of what he said But (Wait and see)

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Knowing the banks, isn't it more likely that Chase and others will do "Emergency Relief CLDs" to minimize their own risk rather than their customers' hardships?

[iced]

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@E_Fizzy wrote:

In light of COVID-19, as you already know, many banks are offering relief to customers affected by the outbreak's financial effects.  Does anyone think that Chase will slightly loosen their tight reigns on their CLI policies with certain customers?  We all know they are notoriusly and historically restrictive with their CLI's. 

If a recession hits this summer, many banks will definitely begin to decrease unused CL's amongst the customer base, similar to 12 years ago.

Any thoughts?

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They're not that stingy with CLIs and I don't know why this community insists on pushing that story. They don't give SP CLIs except in rare cases, but I've never had them turn down either my SO or myself (or anyone in my social circles) for a CLI when asked. If you ask a bunch of lol/24s and churners, of course they're going to tell you Chase is restrictive, but for typical customers with reasonable and normal card usage, they're no more or less restrictive than other major banks.

I can see them rolling out some payment relief options for those impacted by this, but I don't see them playing faster or looser with credit limits -- recessions are usually the riskiest time for a bank to do this. I could certainly be wrong, and time will tell.

[Anonymous]

I agree ^^