Chase High Usage Concern

[Creditaddict]

So we have an American Express Gold Business card that I use for all business expenses.

I recently product changed over to a Southwest Card (personal card)

I was thinking about switching ALL business charges over to this card, but with Chase' recent actions to people with high usage and stuff I'm starting to think this might be a really bad idea... the rewards would be nice but can't afford to loose the CL if they decided to close the account.

Thoughts feelings?

2 years ago when I paid off a chase card that had been maxed for over a year and requested cli, they responded by taking the cl from 15k down to 1k.. so that brings me pause too! 

[oracles]

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@Creditaddict wrote:

So we have an American Express Gold Business card that I use for all business expenses.

I recently product changed over to a Southwest Card (personal card)

I was thinking about switching ALL business charges over to this card, but with Chase' recent actions to people with high usage and stuff I'm starting to think this might be a really bad idea... the rewards would be nice but can't afford to loose the CL if they decided to close the account.

Thoughts feelings?

2 years ago when I paid off a chase card that had been maxed for over a year and requested cli, they responded by taking the cl from 15k down to 1k.. so that brings me pause too! 

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I think if you called them and tell them that you are going to be using this card for now on due to their great rewards program, i think you will be ok. Also tell them it will be paid off completely every month or however much. Make sure they put it in the notes. CAll again after the first month just to remind them. I think you will be ok.

[Creditaddict]

I just don't want to give them any reason to take a fresh look at credit reports, to see the high usage on other cards, I can only pay off so much each month, I'm going as fast as I can.lol

[oracles]

lol you are too much CA.

In that case, they may soft you alot since you will be using your card alot now. They will still soft you but not as much if you dont use the card. Alkthough i have to say, i have 2 chase cards and i do not get soft by them alot and i use the freedom card allllllllllllllllllllllllllllllllllllllllllllll the time lol (for effect) lol

[Creditaddict]

I called Chase today to tell them I will be traveling in 2 weeks with the new Southwest Card, the I asked about high usage... I stated this account had been used as a BT for first couple years and now I have decided to turn my business to Chase Southwest card because it was a far better product then Amex, but I was concerned about that much usage monthly on this account that in the past has never seen much usage... He said that was music to Chase' ears that I wanted to make this my primary card and he notated the account accordingly that it would be primamry card and see large usages on a monthly basis and charges would be paid in full each month.

So we will see in the next couple months if this is a true statement!

[oracles]

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@Creditaddict wrote:

I called Chase today to tell them I will be traveling in 2 weeks with the new Southwest Card, the I asked about high usage... I stated this account had been used as a BT for first couple years and now I have decided to turn my business to Chase Southwest card because it was a far better product then Amex, but I was concerned about that much usage monthly on this account that in the past has never seen much usage... He said that was music to Chase' ears that I wanted to make this my primary card and he notated the account accordingly that it would be primamry card and see large usages on a monthly basis and charges would be paid in full each month.

So we will see in the next couple months if this is a true statement!

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very nice, i hope my advice does not come back to haunt you.

But seriously, i think you will be ok

[Creditaddict]

It was funny, because he asked about the other account that just sits there because of the massive CLD they gave it 2 years ago, I was like well maybe if you had not taken away my CL I would use it! "OH, okay"

But I'm thinking they will give me at least a month of massive charging to see if I really do pay in full, then will probably not have any problems after that

[oracles]

i agree, show them you will PIF and you will be ok

[jaxstraw]

Wouldn't and shouldn't that past AA from Chase be enough warning (when times were good) that this might be a high risk endeavor ?? 15k to 1k is harsh when credit flowed freely. How do you thinkthey might respond when credit is changing for the worse every day ??

Spread your credit around with quality backups that you use semi-frequently. 

I hate to be the stick in the mud but almost every statement from all these postings proved FALSE in my case with Chase recently.

- PIF does not make one bit of difference to them, because that's the only way I paid them

- charghing thousands per month on my Freedom didn't matter

- high usage on other cards ( 30% of overall CL on all CC's !) was considered excessive and high risk

- they softed me once a month on EX for the last 3 months as well as EQ recently

In my case as well as others who have posted on other sites, not mentioned here, Chase has been adopting AMEX's recent tactics with credit cards. They have taken their biggest loss ever in credit cards this last quarter, close to double the previous if I'm not mistaken. And it probably will be worse in the upcoming first quarter of this year.

Low profile is my reccomendation with Chase, Amex, Citi, BoA. 

They are all in MAJOR trouble again after getting bailed out just months ago. The markets tanked huge again today, the worst since Nov 11 and it was because these major banks can't shed their losses.

Good luck.

Message Edited by jaxstraw on 01-20-2009 07:47 PM