Closed CSP

[youngandcreditwrthy]

:-(
Sad day today.... I had to close this card though.
They upset me when they denied me for a cli yesterday and really insulted me for having nearly $20k of cc debt (even though overall util is low and I pif most accts)
So I said to hell with it and closed them. I usually pif all of my Chase cards, and I do pif before statement cuts. They did not see it that way and tried to have me talk with the Portfolio Risk people...
One minute Chase is instantly approving you for $25k (last Chase card opened six months ago!) The next they are denying you altogether and treating you like crap.
Good riddance CSP-the free vacay was nice.
They probably dont like me because I rarely pay interest to them. Ha.

[navajomyst2003]

Thought about trying Pen Fed?

[takeshi74]

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@youngandcreditwrthy wrote:
One minute Chase is instantly approving you for $25k (last Chase card opened six months ago!) The next they are denying you altogether and treating you like crap.

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Utilization plays a role but it's not the only consideration in evaluating risk.  They aren't just randomly deciding to pick on you.  Something about your behavior is risky according to their analysis.

[Anonymous]

You must have tripped some of their risk parameters (lots of cc debt, which you might, or might not, pay off) and now asking for a CLI.   Probably matches known risky behavior in which case your past history might count for less.   If cancelling made you feel better, good!

[PlasticOrPlastic]

Hope that works out well for you!  CSP is the only card I still want!

[Anonymous]

Sorry they upset you but Chase has to, by law, factor in your ability to pay your card when you request a CLI. Most people "fluff" their CR's to look stellar prior to app'ing for cards to not only increase your ability to get approved but also increase your ability to score some nice limits. Therefore, most of the time people are handed out nice limits when they apply with good credit history because their debts are typically low.

It may have sounded like they were insulting you for your current CC debt, but they are really just obiding by the Credit Card Act by considering your ability to pay (even though this has not been a factor with your Chase accounts). But, it doesn't mean that it won't be in the future.

‘‘A card issuer may not open any credit card account for any consumer under an open end consumer credit plan, or increase any credit limit applicable to such account, unless the card issuer considers the ability of the consumer to make the required payments under the terms of such account.’’

[TheConductor]

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@youngandcreditwrthy wrote:
:-(
Sad day today.... I had to close this card though.
They upset me when they denied me for a cli yesterday and really insulted me for having nearly $20k of cc debt (even though overall util is low and I pif most accts)
So I said to hell with it and closed them. I usually pif all of my Chase cards, and I do pif before statement cuts. They did not see it that way and tried to have me talk with the Portfolio Risk people...
One minute Chase is instantly approving you for $25k (last Chase card opened six months ago!) The next they are denying you altogether and treating you like crap.
Good riddance CSP-the free vacay was nice.
They probably dont like me because I rarely pay interest to them. Ha.

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I am really curious to know what was actually said by them.

If they say "I'm sorry, we can't approve that because you are carrying too much outstanding debt." and you feel insulted, that is you choosing to feel insulted, without any insult intended on their part.

If they say "What kind of idiot carries this much debt and thinks he will get a CLI from anyone?", that's an intentional insult.

In other words, was the insult actually in what they said, or in how you felt about what they did (or in this case, what they didn't)?

[Dw4250]

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@youngandcreditwrthy wrote:
:-(
Sad day today.... I had to close this card though.
They upset me when they denied me for a cli yesterday and really insulted me for having nearly $20k of cc debt (even though overall util is low and I pif most accts)
So I said to hell with it and closed them. I usually pif all of my Chase cards, and I do pif before statement cuts. They did not see it that way and tried to have me talk with the Portfolio Risk people...
One minute Chase is instantly approving you for $25k (last Chase card opened six months ago!) The next they are denying you altogether and treating you like crap.
Good riddance CSP-the free vacay was nice.
They probably dont like me because I rarely pay interest to them. Ha.

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Hey youngandcreditworthy:

Sorry that happened to you...I know it can be frustrating to be denied for a CLI, especially after burning a HP.

That being said, based on your siggy, your overall UTL is ~$175K.  I assume your income is pretty high, but $175K in available revolving credit is A LOT for almost anyone.  If you are putting $150-175K/month through your cards and PIF every month, I need to come hang out with you...lol!!!!

Even though you PIF, you may have bumped up against whatever algorithm Chase has pre-set, and they determined you already have enough available credit (thus should not need more).  I doubt it was personal...

Anyway, onward and forward right!   CSP is a card with an annual fee, so those are always nice to get rid of if you don't need it.  You still have a pretty nice portfolio of cards, and getting rid of one may actually help you by further concentrating your spending (and reward earnings).

[Anonymous]

I don't get it.  Pride is a double edged sword.  But to each their own.

[Anonymous]

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@Dw4250 wrote:

That being said, based on your siggy, your overall UTL is ~$175K.  I assume your income is pretty high, but $175K in available revolving credit is A LOT for almost anyone.  If you are putting $150-175K/month through your cards and PIF every month, I need to come hang out with you...lol!!!!

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+1.