Chase CLI

[Anonymous]

Chase just gave me a unsolicited $500 CLI. Does that mean I survived the WAMU customer review or should I still be worried? I thought for sure I would be cutoff because I have a unpaid chargeoff from Chase when i lost my job in 2003.

[Hairy_Satchel]

Congrats. You had better luck than me. Wamu raised my rates from 18% to 28.9% for no reason. I asked Chase to lower the rate to "non loan shark rates" and they said no. I told them I have an 800+ fico score and my income is up by 20K since opening the account. They just don't care. I had no choice but to fire them. I opened a Discover account with 5x the credit limit and much much better terms. I guess they decided to weed me out. That's fine-there loss because I've outgrown them and moved on. Good luck with Chase.

[Anonymous]

I think Chase isn't budging on the APR's because they don't want to encourage balances.  They like the merchant/vendor use fees, because that is quick turn profits.  APR income takes time to pay out with associated risk in the economic climate right now.

My Chase account is a whopping 29.99%, but I PIF and treat it like a net 30 charge account.  It has a $3.5k CL, so not real high, but high enough that it is useful.  I PC'd to the Chase Freedom Plus and right now am enjoying the rewards.  Once the reward changes and reductions start to kick in, I'll PC downgrade to a non-AF reward card.

In time I will seek an APR reduction, but I'm not worried about it.  I opened other TL's with better CL's and APR's, but didn't can Chase.