DO NOT apply for Anything with CHASE

[Anonymous]

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@lg8302ch wrote:

OP...so you are not going to call and find out what triggered this ?  What I find strange looking at your card limits that hardly any card is over 5K with the figures you mentioned...(except NFCU which is famous for high limits) ... this leaves me a bit puzzled and I would love to learn what triggered the account closure.  Hope you will call and give us an update. Thks.

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You must have missed some of the posts from yesterday.... I went to a branch and sat for 2 hours. Was told I have too much available credit. Even business banker was in disbelief and called back in to no avail.

[Anonymous]

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@bz386 wrote:

Op, if you wouldn't mind disclosing, what is your personal income (as reported to Chase when you applied)?

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Personal income from 2013 $225k

[Anonymous]

grayarea37 said:

 “I also agree with someone that posted that this might be some sort of computer generated output algorithm or something because it all just feels a little off and the responses today were quite robotic and non-specific …"

"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. “ 

OP, sounds to me like Chase has its head up its algorithm.

Your “friendly neighborhood banker” is now a high tech machine.

Sorry this happened to you, and good for you for taking your business elsewhere.

[CreditCuriosity]

Such a big blunder by most likely a computer..  They might be over to overturn it in time, but at that time it is going to be to late.  

Just another reason to not put all you credit with one lender although they hate it, you gotta be with tons of lenders in-case crud like this happens.

[Anonymous]

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@CreditCuriousity wrote:

Such a big blunder by most likely a computer..  They might be over to overturn it in time, but at that time it is going to be to late.  

Just another reason to not put all you credit with one lender although they hate it, you gotta be with tons of lenders in-case crud like this happens.

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+1 to that

i have a new perspective 

[Anonymous]

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@Anonymous wrote:

When we had recession in 08 my Father Had 2 BoA CCs with 30k each credit line
He Used up 10k on 1 account and 9k on the other
His Banker guy at BoA begged him to apply for another one so he can make few commision dollars
My father did as a favor
Few Days later BoA called my dad and reduced credit line to 12k each leaving only 2k, 3k wiggle room
This is what they can do to you

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I think the lesson here is Don't put all the eggs in one basket
My father had business and personal checking accounts with BoA
Unfortunately he only had 3 CCs 2 BoA and 1 HomeDepot
BoA didn't care that my father did a lot of banking with them
BoA put my Father's total available credit from 50k =>10k
Any banks can do this to you

Deal with multiple banks 
To me having 3+ cards with one bank is too many
You could use all that HPs and diversify your credit and have higher limits

[Anonymous]

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@Anonymous wrote:

To me having 3+ cards with one bank is too many

You could use all that HPs and diversify your credit and have higher limits

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Debatable..

I agree, You should diversify your lenders, But I disagree about the higher limits with different lenders part. I had no such phenomenon happen for me.

[Anonymous]

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@Anonymous wrote:

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I agree, You should diversify your lenders, But I disagree about the higher limits with different lenders part. I had no such phenomenon happen for me.

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Nixon you have like 20+ cards
If you bundle all the CL with chase into one you probably have over 30k Credit limit
They keep approving you for lower limits because the average is not that high and higest is not that high
and you have CL spread out with many cards already so Credit/income ratio will come in to play
Don't you think?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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I agree, You should diversify your lenders, But I disagree about the higher limits with different lenders part. I had no such phenomenon happen for me.

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Nixon you have like 20+ cards
If you bundle all the CL with chase into one you probably have over 30k Credit limit
They keep approving you for lower limits because the average is not that high and higest is not that high
and you have CL spread out with many cards already so Credit/income ratio will come in to play
Don't you think?

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$7,000 with Capital One, $13,500 with AMEX, $4,000 with Barclay's, $22,500 with Chase, $1,800 with Discover. And a good amount more with various other Issuers.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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I agree, You should diversify your lenders, But I disagree about the higher limits with different lenders part. I had no such phenomenon happen for me.

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Nixon you have like 20+ cards
If you bundle all the CL with chase into one you probably have over 30k Credit limit
They keep approving you for lower limits because the average is not that high and higest is not that high
and you have CL spread out with many cards already so Credit/income ratio will come in to play
Don't you think?

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Certainly with lenders like Chase, where you can combine CLs,, you can get high CLs on a single card.   But that might not make sense, depending on your goals.   If the several cards have rewards that you can actually use, having more cards with lower CLs might be better.   And if many of the cards that are good for you come from one lender, certainly diversity in getting say two cards from two other issuers, but no need to restrict # of cards if you don't need to.

High CLs, in themselves, aren't worth all that much.