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Chase cash advance limits decreased?

Dinosaur
Moderator Emeritus

Re: Chase cash advance limits decreased?

Followed this posting and checked. Both Business and Personal Accounts reduced to 5%. As always, you get the information on MyFico first? Or, close to it. Smiley Sad  Reminds me of the Barclay credit card I recently closed where they lowered the Cash Advance Limit from 40% to 20% and I never used cash so it was not a big deal (card closed by me because of the lender's current credit habits).

Message 11 of 67
CreditCuriosity
Moderator

Re: Chase cash advance limits decreased?

Only 1 statement close recently my Marriot at 20k reduced to 1k advance limit as well.  Not sure CSR etc will follow suit, but assume they will when statement cuts in next few days.  Fine with me as gotta be crazy to do CA's on these cards

Message 12 of 67
Citylights18
Established Contributor

Re: Chase cash advance limits decreased?


@coreysw12 wrote:

Weird. I wonder why they tanked some limits and not others.

 

I've never even taken a cash advance, and they know perfectly well that I still have have a job because I bank with them. Might have something to do with my CFU being at 91% utlization right now Smiley LOL It's getting paid back down to zero in the next few days, so I'm curious if that'll have any effect. My SL has been getting massacred on that card ever since I moved a lot of it over to my CSP (now CSR). Been bouncing off that SL multiple times a month since then. Need a CLI! Put easily $7k a month on that card and they won't budge it past a $4k SL... But I digress. Weird about these reduced CA limits, but I guess we can all surmise why they're doing it. Uncertain economic conditions and all that jazz.


I've had an auto CLI before on my CFU but I didn't rebalance limits before that.

 

What I heard from the CSR (which could pertain to your CSR) was that once you rebalance kiss an auto CLI goodbye since they count tht as doing a favor.

Official travel point totals as of 1/21/20 (366,614 Total Points)
Chase Ultimate Rewards 148,834
World of Hyatt 92,284
AMEX Membership Rewards 63,172
AA Advantage 15,244
United MileagePlus 13,316
British Airways Avios 11,332
Citi Thank You 2,850
Hilton Honors 2,157
NASA Platinum Rewards 1883
Marriott Bonvoy 1,350
Jet Blue TrueBlue 885
Southwest Rapid Rewards 762
Expedia Points 740
Delta Sky Miles 175
Virgin Atlantic Virgin Points 100
Hotels.com Rewards 6/10 ($135.99)
Message 13 of 67
Citylights18
Established Contributor

Re: Chase cash advance limits decreased?


@coreysw12 wrote:

Especially with my CSR teetering right on the edge of their $10k minimum SL, I'd be pretty sad about a CLD. Couldn't care less about CA limits.


Its just not the right kind of card for a CA.

 

When I closed on one of my PLOCs the banker was trying to push me into a CC for CAs instead as it had a lower overall rate. I declined because they gave me the max limit on the PLOC but the CC and I could always go back later and get the CC.

Official travel point totals as of 1/21/20 (366,614 Total Points)
Chase Ultimate Rewards 148,834
World of Hyatt 92,284
AMEX Membership Rewards 63,172
AA Advantage 15,244
United MileagePlus 13,316
British Airways Avios 11,332
Citi Thank You 2,850
Hilton Honors 2,157
NASA Platinum Rewards 1883
Marriott Bonvoy 1,350
Jet Blue TrueBlue 885
Southwest Rapid Rewards 762
Expedia Points 740
Delta Sky Miles 175
Virgin Atlantic Virgin Points 100
Hotels.com Rewards 6/10 ($135.99)
Message 14 of 67
TSlop
Established Contributor

Re: Chase cash advance limits decreased?

I do not know if they decreased, but my CSP and CF are 5%, and my CFU (new app from July) is 20%.

 

I never cared about these, but I decided to look at my BoA PR for fun, and it is at 40%.


Message 15 of 67
TGG_1976
Contributor

Re: Chase cash advance limits decreased?

Thanks for mentioning this. Just checked my account. Amazon Prime with a $4.5k limit. Cash Advance as of last statement $900, as of today $225. No notification, nothing. 

Message 16 of 67
coreysw12
Valued Contributor

Re: Chase cash advance limits decreased?


@Citylights18 wrote:

@coreysw12 wrote:

Weird. I wonder why they tanked some limits and not others.

 

I've never even taken a cash advance, and they know perfectly well that I still have have a job because I bank with them. Might have something to do with my CFU being at 91% utlization right now Smiley LOL It's getting paid back down to zero in the next few days, so I'm curious if that'll have any effect. My SL has been getting massacred on that card ever since I moved a lot of it over to my CSP (now CSR). Been bouncing off that SL multiple times a month since then. Need a CLI! Put easily $7k a month on that card and they won't budge it past a $4k SL... But I digress. Weird about these reduced CA limits, but I guess we can all surmise why they're doing it. Uncertain economic conditions and all that jazz.


I've had an auto CLI before on my CFU but I didn't rebalance limits before that.

 

What I heard from the CSR (which could pertain to your CSR) was that once you rebalance kiss an auto CLI goodbye since they count tht as doing a favor.


Doh!

    Total Loan Balance: $58k / $65k

    Total SL: $42.4k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase Status: 3/24
Message 17 of 67
wasCB14
Super Contributor

Re: Chase cash advance limits decreased?

5% across my 5 Chase cards.

Still 40% on my 2 BofA cards.

20% on Arrival.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 18 of 67
Anonymous
Not applicable

Re: Chase cash advance limits decreased?

My one BofA card still has its CA limit at 40%.  Which makes it my highest CA limit even though it's CL is the lowest of all my cards.

 

So if I get mugged and need emergency cash, guess I have to use my $500 limit BofA card instead of my $3K limit Chase card. Smiley Frustrated

Message 19 of 67
iced
Valued Contributor

Re: Chase cash advance limits decreased?


@Anonymous wrote:

 I was looking at the account details on both my Chase cards, and noticed the cash advance limits had been reduced by a lot.  My Amazon Visa, which has a $1500 limit and previously had a $300 cash advance limit, now has a CA limit of $75.  My CFU, which has double the CL at $3000 has a $150 CA limit now (previously it was $600).

 

Is this the case for everyone?  I think they set the CA limits to 5% of total CL instead of 20%.

 

This seems to be quite recent, as last month's statements for both cards show the old limits.

 

It's not an issue for me since I never take cash advances, but for someone who does (why??), it might affect them.

 


Friends don't let friends use CA so this was a pretty harmless change. I can't even see if this was a risk management move due to Covid so much as a "people don't use this feature anymore so let's reduce our exposure" move.

 

For those who just gotta know what their CA limit is for grins and/or why it was reduced, there was some mail sent out a few months back about changes to the program and I'll bet a change was buried in there somewhere.

Message 20 of 67
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