DO NOT apply for Anything with CHASE

[B335is]

I don't understand why Chase just cuts these accounts without raising another finger to give a courtesy phone call. Its like that movie Office Space when they fire Milton by stopping his paychecks but don't tell him. 

OP, sorry this is happening. They're giving you the runaround and I'd tell them to pound sand. Hang in there, someone else wants your $$

[Anonymous]

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@compassion101 wrote:

What are the ages of all your accounts? Could they mean too much credit over short period of time? Or too much credit for stated income?

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Valid questions .... Um - I offered tax returns and 4506T's etc .... they said my payment and ability to pay was not the issue - my response was "what does that mean?" .... I thought that was the whole business of credit cards.  Plus they know my income - they see the $$ flow into the accounts so they know full well what it is and my ability to pay. I'm 37 with credit accounts dating back to 1995 ish .... Best cards in signature started acquiring within last 3 - 4 years - have closed out some older ones I didn't use as much.  Never gotten store type cards or any of that jazz.  

I asked if they wanted me to pay off the balances entirely - would that make them feel all warm and fuzzy?  The banker in Chase said, that will actually show more availability - I was like huh? .... I'm lost.  

Time for a new sandbox  Excited that maybe something spectacular could be around the corner that I never even knew about!

[Anonymous]

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@Anonymous wrote:
Greyarea37, what is your largest credit limit with chase? I frequently apply for applications and I am slowly approaching 500k lines of credit excluding business accounts, and to be honest I spend 10-20k at least on chase each month. 90%of my accounts are unused and trust me when I say, I have way too much available credit. This thread definitely raises awareness.

Lastly what is your total utilization across all card accounts?

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My largest CL with Chase (was) $8K.  I spent at least $3 - $4K a month on the 2 business cards - and paid that off each time - paid as I went and used my personal card on occasion for business which I would pay immediately and if it was a personal expense then I would generally pay it over 2 months.  Utilization accross my cards which they noted as "spread" - used that terminology very pointedly as of this minute is 13%.  I have a payment pending on its way to NFCU that went out yesterday from BOA billpay and when that hits it will be 7%. ..... Not sure what I am doing wrong but you would think consistently paying your bills would count for something 

[Anonymous]

Chase has one of the the best reward programs
And Chase Bank is the No 1 bank in USA in terms of total asset

Credit Line is almost just a tempatation for them to test you on
They never want you to use more than half of credit limit on any account

Two years ago my Total credit utilization on my report went just above 30%
I got a call from Bank of America asking me Why
They wanted to know if I was out of job or something
It was ridiculous
If I had real financial problems and told them about it they would have frozen my account for sure

At the time My Limit on BoA was 20k and I had around 6800 on it
It was an eye opener for me then
I work very hard all the time to raise my limits

You can never bank on your limits they can erase it anytime

[Anonymous]

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@B335is wrote:

I don't understand why Chase just cuts these accounts without raising another finger to give a courtesy phone call. Its like that movie Office Space when they fire Milton by stopping his paychecks but don't tell him. 

OP, sorry this is happening. They're giving you the runaround and I'd tell them to pound sand. Hang in there, someone else wants your $$

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THANK YOU - yeah I suspect someone else will gladly take my money!

The business banker was quite dismayed.  His reaction was very telling - to me anyway.  They have no control or say so and they can't even go to bat for you really.  He was like, I can't believe no one even emailed you.  

May not have "Millions" to park today - but I likely will one day and when I do - loyalty means everything to me.

[B335is]

Yeah BoA usually calls first to see whats up. I've heard that a few times. Chase rarely (if ever does) and Amex just FR's you. But they were all very happy to take our bailout money!!!

[Anonymous]

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@B335is wrote:
Yeah BoA usually calls first to see whats up. I've heard that a few times. Chase rarely (if ever does) and Amex just FR's you. But they were all very happy to take our bailout money!!!

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Amex also closes without notice in some cases.

[yfan]

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@Ghoshida wrote:

Also, over the past couple of weeks, many members of this community are responding to a poster's problem by first saying, "You must have done something wrong. Are you sure you haven't dome something wrong? You must have because the big banks are wonderful."

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Whie my sympathies here lie entirely with the OP, with all due respect, no one has said this. Attempting to find out the reason a bank gave for credit card closure before making up one's mind is not the same thing as saying that banks are wonderful. Not having a knee-jerk reaction against a big bank is not the same thing as extoling the virtues of big banks.

I would also say that the situation here isn't about "right" or "wrong" at all. This isn't a moral issue. This is far more about likes and dislikes. We like it when banks and financial institutions give us good credit lines. But a bank may not like it when it thinks that the total amount of available credit is too much. Incidentally, I agree with many here that the credit available to OP, even prior to the closures, hardly seems excessive by any standard. But that's not our call to make - it's the creditor's. The reaction should be, as OP's is, that if Chase doesn't want our business, then we can take our money elsewhere. That's what OP should do, and I'm glad, is doing.

[Anonymous]

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@B335is wrote:
Yeah BoA usually calls first to see whats up. I've heard that a few times. Chase rarely (if ever does) and Amex just FR's you. But they were all very happy to take our bailout money!!!

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Yeah They make bunch of money selling bad mortgages to Freddy and Fannie and Still took the bail out money
what can you do
love them or hate them You still gotta work with them since most of us are not JP Morgan family or Sam Walton family

[gdale6]

Another perfect example presented to the members of this board as to why I do business with 0 big banks though my mail box is flooded weekly with offers for big banks bankcards they are all shredded and circular filed. OP I suggest you do as you have said move your funds to NFCU or a local CU you will be treated much better in the long run. I wish you well and good luck