@Anonymous wrote: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
Thats not true at all. I use 90% of the credit line on my Ink card every month and PIF. My business expenses far exceed my CL so I only use the Ink card for office expense, cable, internet, cell and a few other small expenses. I dont think they have any problem with customers using most of the available line, its more about how you use it and pay. We pay the balance in full every month.
I also used about 90% of my CSP CL every month for the first 6 months again paying in full each month and they gave me an auto CLI after 6 months.
@Anonymous wrote:
@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?
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!
I'm late to the thread and I want to start by thanking you for sharing your story. I don't trust any bank as they stopped caring about customers and money on deposit since the fall of Glass–Steagall. They are now so large that we no longer matter as customers. We're all just numbers in aggregate. The Credit Union is our last refuge (and even then it varies wildly by Credit Union).
People here are overly defensive of their favorite institutions due to a major flaw in our modern society. Unlike previous generations who expected the companies they patronized to see them as the most important thing around people today do the opposite. People are insanely brand loyal which is what allows large companies to treat its customers like mere numbers. A sad reality, but it will make sympathy hard to find even when you're wronged. Sadly.
Chase's "excessive credit" explanation is a hard one to swallow, but it makes sense in a seemingly twisted sort of way. Which is why I don't follow the extreme tactics often employed here in the community. Credit cards are a profit center for banks so they want it to generate money for them. There are a variety of ways banks can make money off credit cards. Since you're a business owner I'm sure you're very familiar with the major ways... "Interchange fees" (merchant processing charges), interest on carried debt, etc.
If you're paying your card off excessively. To the point of keeping utilization very low over the long-term (paying multiple times a month, etc.) then the bank can easily see you as a customer who won't make them any money (or nearly as much as a debt carrying cardholder). They don't see any risk of you ever carrying a balance. If you're not willing to be a profit center for them then they feel they can put that money to someone who will. Keep in mind that credit granted to you, even if unused, can't be granted by the bank to another customer. Banks want to see credit used, not siting idle. You have to walk a fine line of showing credit not idle while ensuring you also don't pay for the credit. Multiply this across all of your cards and you can see an issuer looking at a file of "$100K in credit, under $10K used" (keeping you under the magical 10% util target) and them reaching the conclusion of "excessive credit". They, like you, want to put money where it will make them the most.
This is why I pay my credit cards in full on the statement due date, but don't pay any sooner. The only time I will pay early to push down utilization is when I'm actively seeking credit. I still pay no interest on the debt and I don't run the risk of making the bank think my credit is better sent elsewhere.
Keep in mind, our goals here of not actually paying for the credit we use is not what the banks want. What is in their best interest isn't in ours. Thus is the nature of our forced relationship.
I think the main point everyone is trying to make is that banks dont close accounts for no reason.
Perception is everything and in most cases people who have had cards shut down do not perceive their CC or banking behavior as "risky", even when most of us definitely would. Because of that most people that get account closed will always claim....."no reason" but in 99% of these cases, if we could look at their entire financial picture it would be very easy to see why.
Ofcourse, mistakes and overeactions by banks can and will me made.
If you're paying your card off excessively. To the point of keeping utilization very low over the long-term (paying multiple times a month, etc.) then the bank can easily see you as a customer who won't make them any money (or nearly as much as a debt carrying cardholder). They don't see any risk of you ever carrying a balance. If you're not willing to be a profit center for them then they feel they can put that money to someone who will. Keep in mind that credit granted to you, even if unused, can't be granted by the bank to another customer. Banks want to see credit used, not siting idle. You have to walk a fine line of showing credit not idle while ensuring you also don't pay for the credit. Multiply this across all of your cards and you can see an issuer looking at a file of "$100K in credit, under $10K used" (keeping you under the magical 10% util target) and them reaching the conclusion of "excessive credit". They, like you, want to put money where it will make them the most.
This is why I pay my credit cards in full on the statement due date, but don't pay any sooner. The only time I will pay early to push down utilization is when I'm actively seeking credit. I still pay no interest on the debt and I don't run the risk of making the bank think my credit is better sent elsewhere.
Keep in mind, our goals here of not actually paying for the credit we use is not what the banks want. What is in their best interest isn't in ours. Thus is the nature of our forced relationship.
You have a VERY good point here .... maybe they didn't see me as a valued customer because they weren't earning enough 
I did shift business to NFCU starting in October because it was easier to do things all in one place and sent more there with the higher limit. I did make a point to use my Chase cards but maybe not enough and my diligence with my payments maybe hurt me rather then helped me here.