The response I got in record time from Chase, yesterday:
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Date: 03-30-2010 07:31:43
From: Credit Card Support
Subject: Re: Account Inquiry
Message:
Dear (Nonaii):
I am writing in response to your inquiry regarding the
lowered credit limit and increased APR on your account.
Please be advised that the credit limit on your account
was lowered due to low usage of your card. However please
note that you have the option to request for a credit
limit increase.
In order to do so, please reply to this email with the
following information:
* Gross Annual Household income (Alimony, child support or
separate maintenance income need not be revealed if you do
not want to consider these as a basis for repayment.)
* Total credit line you are requesting (Current credit
line plus amount of requested increase.)
By submitting a request for a credit line increase, you
authorize Chase to obtain a copy of your credit report,
and review your credit bureau history and any other
information in order to determine if the request can be
approved.
After your request has been processed, we will notify you
of our decision via e-mail.
Regarding the APR, our records show that we sent a
notification with the January 2009 statement for your
account informing you of our intent to increase the
purchase Annual Percentage Rate (APR) on your account to a
variable rate of 10.24% (Prime Rate as published in The
Wall Street Journal + 6.99%).
Since we did not receive a response or request to opt-out
of these new terms by the deadline of 02/20/09, the new
rate became effective as of 03/06/09.
Once the new rates are in effect, we are not able to
restore your previous rates or lower the APR on your
account at the present moment. However please note that
accounts are reviewed periodically, so you may wish to
contact us after 6 months to have your account reviewed
again for a rate reduction.
If you have any further questions, please reply using the
Secure Message Center.
Thank you,
(edited)
E-mail Customer Service Representative
1-866-892-9268
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Okay. I'm gonna assume the 2009 dates are just typos meant to be 2010. Typos happen. I haven't looked over my statements yet to see if the 2009 date really is meant. The APR is actually lower than what I had before, but it's the principle of the thing. What's the point of a lower APR if you're not able to use the card?
I'm also slowly getting over the credit line decrease. God's trying to tell me something, and it starts with me being so cold towards other posters' situations, now having to deal with it myself. God's also trying to tell me, don't sweat the small stuff. I will no longer play the 'use each card each month to prevent them from canceling it'. Obviously, my business doesn't matter, the computers have spoken and the amounts I put on the card will not have prevented cancellation. So no more using cards each month. Not even for the sub dollar amounts some people used to do to get around 'you must do two transactions a month otherwise we'll jerk your balance for life APR out from under you'. Merchants have to pay fees for those sub dollar amounts. The banks win. I don't. Merchants don't.
Is this the denial stage or the acceptance stage I'm in?
By the way, I like the response by this guys' wife, over at the other credit board:
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Another Chase AA story! Finally rid of THE DEVIL!! Bye Bye
posted by NYRFANN: "... Anyway I just had her call and cancel the card, during the conversation they offered to put the line back to 15K to which my DW answered "if you valued me as a customer, you would have never reduced my line and I would not have to listen to my husband say how right he was, NOW CANCEL the card and send me a letter stating at the consumers request". Mind you she came up with this on her own"
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If you're out there NYRFANN, the only reason why I didn't respond on the thread you posted is because you can ask the mods over there. It's all good, though. Good for you and your wife. Sucks about your card while you two WERE ON VACATION. As for me, I'm working up the courage to do what your wife has done, with Chase -- and with Capital One at this point. This is not worth it.
Just checked and my old Providian acct was just cut from $6K to $500. Not too suprised since I never used it because the rate was 31.99%!
They havent touched my Slate card/$5K or my Military rewards card/$9K.
Current Score: EX 772 EQ 777 TU 783 15 Jan 17
@Anonymous wrote:As we know, if you do so, they will do hard pull and loose the pts from your score is sure. Are you going to do it?
No.
blkngld over at the other board has this to say:
Today, 05:44 PM Post #69 | |
Group: Members Posts: 74 Joined: 15-March 08 Member No.: 70,897  | I found this when googling: http://www.ripoffreport.com/credit-service...-chas-44a53.htm What does everybody think? And here is the Federal Reserve consumer help page: http://www.federalreserveconsumerhelp.gov/?District=13 |
The Rip Off Report is from 2009. The money response is at the end:
Chase Credit -I Got My Credit Line Back! Nancy hates Chase - Pembroke Pines (USA)
SUBMITTED: Saturday, October 24, 2009 POSTED: Saturday, October 24, 2009
I had filed a report with the "Federal Reserve", the Federal Reserve opened a complaint with Chase Bank, and I got my full credit line back. They never did appologize for lying about it, but did restore my credit line back to the full amount.
I suggest everyone file a complaint with the Federal Reserve website if you want your line restored.
Who knows if that's why she got her credit limit restored. Chase is on some ol bull. Chase also completely ignored her letters, and tried to turn it around on her like she was requesting a credit limit increase when she was asking them to review her credit file and show proof that there was a problem with her file. It sounds like she thought the customer service representatives were going to review the credit report the computers used to give their four reasons for cutting her credit limit, while the CSRs didn't correct her and tell her that they would pull a NEW credit report instead of reviewing the one they claimed to use previously. So who knows if they restored it to her after the CSR did the new pull she thought she wasn't requesting, because why would the Federal Reserve care for individuals affected by Chamu?
I've been on that roller coaster before, with Amazon Business (thanks India for pulling a credit report when I didn't ask you to), so I feel for her.
Again, I don't know what I'm going to do. If it's going to be cancelled because Chase sees me personally as subprime and unworthy of any direction except unloading, I want it to be done as consumer request and not credit grantor request. I'm definitely NOT going to unfreeze Experian so Chase can jack up my report with a 25 month credit inquiry for 'new' credit after finding me unworthy of 'old' credit - let alone a denial.
I just got hit today on my old WAMU converted to Chase...went from $6k to $500. I didn't really use my card either since the apr is a not very nice 22.24%. The only thing really killing me right now is that last year I got a Chase Amtrak Rewards card and when the lady asked me if I wanted to shift some of my credit limit from the WAMU card to that one, I said no. Oh well, hindsight is 20/20...and Chase just lost me as a customer.
