That sucks. I think they take 2 business days for limits to be available.
It would depend on a lot of factors ie how long OP has carried a balance exceeding 50% , prior cr history, inq's, new accts etc. Something spooked them.
@littlesister wrote:Applied over the weekend for a chase amazon visa like an idiot and received a denial because of debt.
So I log on today to my chase freedom and they cut my likit from 5000 to 2900!!
Thats 300 more then my balance so now its gonna kill my score and report. Its gonna look like I maxedd the card out.
I called and they wont budge. I just received a boa visa signature card so Im confused. So anyways, I paid my balance in full and will close my card
once it updates. I also wrote to CEO Jaimie Dimon and asked how he liked it when they slashed his paycheck and told him thats how I feel now.
Yeah, sorry they readjusted your UTIL so much. There doesn't seem to be enough info for the reader to just side with the consumer since there are hints that maybe the decrease was just, from a business standpoint. I know you must have been frustrated, but I would not think a personal message to a CEO in that context would help matters. I personally would not have closed the account because it really is a decent card, despite the CL issues they put you through. And I will a footnote that this is not intended to be mean, but comparing your situation of losing available credit is not fair to compare to losing money in pay.
If you haven't already closed the card, I would recommend keeping it open. You can use your new BOA, but keeping the Chase card will help with your overall utilization. Who knows, in time Chase may readjust your CL to its original level.
"Anger is the wind that blows out the light of reason." Wait a few days, and the sting will probably ease or go away. No point in hurting yourself further by closing a TL in good standing.
