Ouch! Sorry about the CLD - they must have seen something in your cr that caused concern. Well, I can certainly understand being upset maybe you might want to think about closing your account. Does your BOA report cl? how will the closure effect your util?
Obviously it's up to you but it won't hurt thinking about the reasons why the decreased first before you close your account.
Good luck.
Obviously it's up to you but it won't hurt thinking about the reasons why the decreased first before you close your account.
Good luck.
Thats chase man they act up some times
Thats bogus though and cheep from Chase
Sorry about all this. I guess that shows how a lender like Chase operates after they receive bail out money from our taxes
Its a shame
@MovingForward
Your breakfast cost that much? Were you maxed out?
Your breakfast cost that much? Were you maxed out?
@jakemod1 wrote:
@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.
Looks like Chase got spooked when you applied for the Amazon card. Due to your current debt, they wanted to limit their exposure to you, hence the CLD. From what you said, your util from that account was over 50% of your total credit limit (64%) when you applied. Definitely should have paid the balance first before you applied. You looked very risky to them since you were actively seeking new credit while having a high balance on your account.
Its good that you paid the balance down, but you shouldn't close the card since that won't do you any good. You will lose a TL, and if you have any other balances reporting from your other cards, it will raise your overall util from closing the account.
EDIT: I misread...your balance was $2,600/$5,000 not $3,200/$5,000 so its 52% not 64%.
Totally agree.
You can't be mad at Chase for protecting themselves. You look very risky applying for credit and having a big balance on the same creditors different account.
