@kdm31091 wrote:Yeah, not just because of the Chase closures but also just to reduce clutter, I pared down to 1 Chase card, the Amazon Visa. Since they are perfectly fine with reallocating limits, I'd say people should try to reduce to no more than 2 cards with them. Yes you can have more than that, but it seems that you are raising your exposure by an undesirable amount. In the interest of diversifying, you probably don't want to have more than 1 or 2 cards with a certain lender anyway. Many of Chase's cards are similar (the travel ones, anyway) so having one travel and one of their "Regular" cards should be enough.
And yeah, time doesn't always mean much. Some creditors are more generous with CLI and additional lines if you've been with them. Others more or less consider each app seperately, with almost no bearing on whether you already have a card or not.
Chase has a number of products where having more than two cards can be warranted. This advice is terribly flawed. Sure you should have multiple lenders as a backup, but many people have more than two chase cards. I currently have three and am going for a fourth, because I have specific uses for each of the cards.
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@Anonymous wrote:
@jsucool76 wrote:Despite what any thread anywhere says, in my opinion, there's always a "reason."
Unless you're popping lates left and right, maxing out your card and making min payments, or apping for a new card every day, you'll most likely be fine.
I understand your skepticism but read other boards and other threads unrelated to me and this board .... I am not alone. Chase is closing some accounts and there is not more to the story or another "reason". It's easy to hide behind the computer and assume that someone is abusing their credit or paying late but I am putting it out there - all of it - it just isn't there to speculate on this time. Trust me, I have scrutinized every aspect. The ONLY thing that remotely makes sense is I paid in full and earned points but didn't pay interest so they weren't making money on these cards. I wouldn't think this would cause my accounts to close but given my bankers confidence - now - in seemingly thinking they will be reopened upon this review makes me think this is somehow some sort of end of the year restructuring. I don't really know but my confidence is shot and it certainly was not specific to me and no fault of myself or my business and I was certainly not maxing out my cards.
Having too much available credit is hardly a valid reason given my justifiable income and regular and constant payments.
To the OP: No reason to be paranoid, just do as you normally would and let the cards fall where they will. If it is meant to be, it will be and I truly believe I have been led to a better banking relationship as a result of this mishap so if you find yourself in my unfortunate circumstance, don't fret, regroup and something good will come from it. If not, you will likely Love Chase like I did right up until this unfortunate falling out.
Gray, your situation always bothered me. What I find questionable is why you were getting such low credit lines to begin with from chase. It seems like your initial credit limits should have been much higher if you were bringing in the type of income mentioned. This leads me to believe that you were considered somewhat a risk by Chase from the start and they decided to shut you down when they saw you getting more credit with other lenders. Not saying its right, buit it seems clear to me that they saw something they didn't like from the very beggining. Probably something in their computer program. I have to wonder if they would have taken AA against you if you got that CLI a year from now when you had even more credit history with Chase.
@Anonymous wrote:
@FinStar, I figured they did this, lol.
It is Interesting that Chase had willfully extended more credit towards me than even AMEX who I've had for nearly 7 years. Im not going to look the gift horse in the mouth though.
Remember, you can get bit or have to assist with a mouth job (teeth). Free money is guud 