WTH Chase?

[Anonymous]

---

@chrisw1968uk wrote:

Great Thanks - Forgot to mention, we also have Chase Ink with $39k CL

---

That might be it. 39K tied up in the Ink card. My scores are slightly higher,  income is higher,  oldest account is 18 years, and my CL is 23,600. But I have no other Chase cards, and can probably get another one with a decent limit.

$500 is basically telling you is, yes, we will approve the card, but we're not willing to extend any more credit to you. Here is some pocket change to go with the card.

[chrisw1968uk]

we monitor our credit rigorously - there is nothing, must be the 50% of income thing

[SoCalifornia]

As mentioned, send a secured message and have them move whatever limit from the Slate to the new account. Carry on.

[CreditCuriosity]

My guess is internal limit with them as business card counts against total exposure with chase.  Can obviously as mentioned transfer limits around pretty easily with them.  Although not sure between business cards and personal with chase as have no business cards with them.  Personal isnt an issue though a simple call can take care of most of these things or a SM as others suggested

[Revelate]

---

@Brian_Earl_Spilner wrote:

---

@Remedios wrote:

Send them SM and they will move the amount you specify from Slate to her new card. 

As far as recon, that may work, but another HP may be involved. 

Is she AU on Ink, or is it in her name? If it's in her name only, she might be at max exposure at this time, because that's $49k on $79K income 

---

Indeed. Unless something has changed, I was under the impression that max was half the person's income.

---

  I haven't updated my income there for a while and when I checked in their interface it's blank.

Personal: 43500 + 25000 + 4000 + 8500 = 81000

Business: 6500 + 9000 = 15500

I'm nearly 100% confident I didn't put more than 140K in the interface the last time I updated it but might've been at most 160k.   That said they originated (and sold) my mortgage, and also the bulk of my investment accounts are there, and as such I might be underwritten on more than just income in their algorithm for max exposure.

[chrisw1968uk]

It seems to be it - I sm'd them last night, we paid off the $400 balance on her Slate and they will be transferring the CL to the F.U (FU seems appropriate lol) - Wifey is fine with her $10kCL as she only spends maybe $1500 a month anyway and PIF (leaving just a $100 reporting statement balance) We have no other debt so util is not a consideration - thanks everyone

[Anonymous]

yet another reason why I hate Chase. Should have just declined the app and site internal limit as the reason. 

[Anonymous]

---

@Anonymous wrote:

yet another reason why I hate Chase. Should have just declined the app and site internal limit as the reason. 

---

So, Chase should offer unlimited credit to a new cardholder? I thought it was nice of them to approve the application and allow the cardholder to move CLs to the new card if they'd like, instead of declining. 

[SoCalifornia]

---

@Anonymous wrote:

yet another reason why I hate Chase. Should have just declined the app and site internal limit as the reason. 

---

While it can sometimes be frustrating, I somewhat prefer my primary lender to be a bit more stringent. Certainly, they could have said "No go, XYZ... and this is the exact reason". It feels good to work towards something and achieve it. It's not as though they hide the fact that there is an internal limit, so the applicant should take heed, especially if you are extended 50% or more than your income supports. And anyway, some people do need lenders to pump the brakes on limit, just because you can doesn't mean that you should. Some people don't know where to draw the line. 

[Remedios]

OP and wife have the right attitude. Move the CL from largely unused card and make a lemonade while collecting SUB and URs.
Beats denial for sure.