Chase cash advance limits decreased?

[Anonymous]

I don't really know the CA limits on nay of my cards except one, and only because it's plasterd in bold right under my limit at BoA. It's my Biz card and it's currently half my limit, hasnt changed since opening it. 

As far as CA's go, I think that they simply aren't as useful as they once were. It's almost imossible to find a merchant who does not accept a CC today, versus back in the earlier days where you'd have go to the closest ATM for cash in oder to pay them. Whoever it was, local mechanic etc. And said ATM always seemed to be right near the Casino.  lol

Today there are just so many more options available than a CA that I don't see them as so depended upon as before. So I definitely wouldn't mind if they were eliminated, and I certainly prefer they CLD those than my actual CL.

[Anonymous]

I got my CA limit chopped to 5% on CFU. I'm sure the same will happen to my CFF when the statement cuts in 2 days.

[Anonymous]

Mines just dropped from 4700 to 1175.

[Credit_hawk]

Hey guys, checking in after a while. I always try to check in when I notice something new regarding my credit to share it. Many of you may already be familiar with this but I've not been on as much as I'd like lately. I noticed on my statement today for my Chase Sapphire Preffered that my Cash Access Line looked very small. It was $450. I've never used it and would never use it but I was pretty sure it was much higher for years prior. So I checked old statements and sure enough around September it seems my cash advance lines on both my Freedom and Sapphire Preferred were slashed from several thousand each to roughly $400 on each card. My credit lines were left untouched even though I barely use the cards lately. 

I've never had any limit of any kind cut so this is a first for me. I'll never use the cash advance line anyway but I was just curious if others also experienced this. As always, let me know if this happened to you. I like hearing your experiences. Hope you had a good Thanksgiving and stay safe.

[gdale6]

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@Credit_hawk wrote:

Hey guys, checking in after a while. I always try to check in when I notice something new regarding my credit to share it. Many of you may already be familiar with this but I've not been on as much as I'd like lately. I noticed on my statement today for my Chase Sapphire Preffered that my Cash Access Line looked very small. It was $450. I've never used it and would never use it but I was pretty sure it was much higher for years prior. So I checked old statements and sure enough around September it seems my cash advance lines on both my Freedom and Sapphire Preferred were slashed from several thousand each to roughly $400 on each card. My credit lines were left untouched even though I barely use the cards lately. 

I've never had any limit of any kind cut so this is a first for me. I'll never use the cash advance line anyway but I was just curious if others also experienced this. As always, let me know if this happened to you. I like hearing your experiences. Hope you had a good Thanksgiving and stay safe.

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yes it happened a while ago for most, they are showing they are not willing to help anyone during Covid, quite a detestible position. Only reason I dont cancel mine is the rewards, I keep them to drain Chase.

[hawkins]

You got me thinking about that. I never really looked at that was not interesting to me but I looked at both my cards also cut to $500. Whatever I don't care. 

[longtimelurker]

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@gdale6 wrote:

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yes it happened a while ago for most, they are showing they are not willing to help anyone during Covid, quite a detestible position. Only reason I dont cancel mine is the rewards, I keep them to drain Chase.

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While in general banks (and most other corporations) can't be said to really care, this is a bit strong IMO.   Generally credit lines for purchases have been kept in tact.  And I have no data if their way of dealing with people claiming hardship due to COVID is particularly different from anyone else.      While sometimes CAs are necessary, they are risky to everyone, and as @Anonymous said upthread, if they need/want to cut something, this is one of the least painful things.

[Anonymous]

Just checked my last statement and Credit Limit = $22,800, Cash Access Line = $1,140. So, 5%? 

[j615]

Just checked, and as of my October statement, my cash access line on my CFU has dropped from $6000 to $1500. So, it indeed also went from 20% of CL to 5%.

[JonStur]

Just checked my statement and sure enough my limit was finally decreased from $1200 to $300. I was feeling a little left out but now I'm officially part of the club...woo-hoo!!!