Chase cut limits (again) FIXED BY CSP

[sjt]

Bank will cut credit lines for two reasons 1) to minimize risk and 2) for not utilizating the credit line to its potential.

Im wondering why the bankcard center did not notify the CPC banker of the credit line reduction? Could it be that the credit cards were not were not flagged as a CPC client, which is why the JP Morgan cards were not touched.

[Revelate]

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@sjt wrote:

Bank will cut credit lines for two reasons 1) to minimize risk and 2) for not utilizating the credit line to its potential.

Im wondering why the bankcard center did not notify the CPC banker of the credit line reduction? Could it be that the credit cards were not were not flagged as a CPC client, which is why the JP Morgan cards were not touched.

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They also potentially cut to dress up their financial reports; sometimes it's a macroeconomic issue and the bank wants to shift their portfolio mix or need to change their reserves.

As for the communication issue, that's a possibility; also, Chase is a BIG company; pretty much all such have such issues, and while I haven't worked for Chase ever, I did work for BOFA and other large companies in other verticals, and many have nearly autonomous arms.

That may not be the case here, but with CPC being a customer service arm it probably doesn't even have a common manager in the chain until some ludicrously high executive in the organization, and that can be a challenge to integrate even in small companies at that level.

[cashnocredit]

There is a discconnect between the CC  and banking arms. Ever since I had to have a discussion with a Citi CSR to get a 20k purchase approved on my old secured card my account has been somehow flagged and the CSRs can't get access to some of my banking or CC info that they normally can with customers. This was stated to me by one CSR when I was trying to track down why a purchase I had made was never posted when it should have been. I'm told it's best to go through the contact number on my bank acount which links all my Citi accounts.

My guess is there is data segregation to reduce some sort of employee related risk.

[swpopham]

Thats exactly right, the left hand doesn't know what the right is doing.

Still no update or resolution yet.

[myjourney]

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@swpopham wrote:
Thats exactly right, the left hand doesn't know what the right is doing.

Still no update or resolution yet.

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Good luck 

[enharu]

Its bad to use examples of AA during the market crash because a lot of people were getting CLD even when their accounts are in very good standing. Like relevate said, those people got AA simply because banks no longer had that much liquidity to keep themselves afloat, much less loan out, which is why there were across the board cuts for their less-than-extraordinary customers. Usually customers at the top of the chain are left alone, and companies start taking AA on the least profitable, highest risk customers, and then gradually go up the ladder until they achieve the amount of money they need to cut. Some of the customers affected are by no means regarded as "unwanted", which is why banks may take an extra step to inform them and at least do something to prevent losing that business.

However, right now things are no longer as fire as they were 3-5 years ago, and banks are in somewhat okay shape. If anyone is getting AA, it's mostly due to risk / profit issues rather than any macroeconomic issue.

[enharu]

@swpopham, even the EO can't help?

Have your wife tried calling instead? Seeing that only the joint accounts had AA taken, it may be your wife that chase is targeting, rather than you.

[swpopham]

She's bringing me lunch out on the job site and we are going to call the portfolio risk review people together

[waiter]

Hello OP.

The person @ chase who actually went after your accounts MUST be the same one who shot my CSP. I didnt have any balance so he/she went ahead and just close it. I used the card for gas and normal expenses never went more than 4k balance on 18k card. I also logged into my account friday and found the message that my account has been closed. limit was 18k. and also my wifes slate 8k limit.she hardly used that card. lol

 i didnt get any letter in mail or warning or anything, NOTHING changed on our reports all scores above 700. And i am not even gonna call them about it. I will close mine and my wifes chacking accounts  as soon as this friday. And will go to nefcu. 

Chase, GTH.

oh BTW, that CSP was pre approval offer in mail, and so was slate for DW. Both accounts were less than a year old.

[09Lexie]

Maybe Chase is doing a little purging of accounts this month. Hopefully this will not be a trend.

@waiter

I'm sorry your accounts were closed. Good luck with NFCU