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Yikes! On the chopping block with Chase!

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Anonymous
Not applicable

Yikes! On the chopping block with Chase!

I've had 2 Chase cards for about 5 years -- SWA (SL $21k) & Slate (SL $5,700, auto-increased to $8,200 after 18 mos). We use the SWA for travel, fuel, lodging, etc and the Slate was initially used for the BT option, but eventually used it regularly, paying it down. 2018 was a pretty busy travel year so we used the SWA quite a bit along with a few other rewards cards and utilization got up to about 65% (I know, gasp right). I knew we would have them paid off in no time, however, before we could do so, Chase put us on the chopping block & was the ONLY card issuer to decrease limits on BOTH cards (SWA down to $15,700 -- balance was at $15,000 at the time; Slate down to $1400?!), which of course had a huge impact on my overall score. When I contacted them to complain, I was told I could have my accounts reviewed and the decision reconsidered, but I declined. I was so furious that I decided to pay them both off instead, vowed never to use them again, and was ready to close the accounts altogether. Of course, this was all BEFORE I found this forum, and all the helpful info; So glad I gathered my composure and stumbled upon this community when I did. 

 

So now that I've simmered down a bit, what's my recourse, if any? Anyone else had this happen to them with Chase or any other card issuer? SHOULD I have allowed them to review my account? Wouldn't that initiate a HP? WWYD? Thanks in advance.

41 REPLIES 41
Shadowfactor
Valued Contributor

Re: Yikes! On the chopping block with Chase!

Welcome to the fourms!

 

AA is never fun, but it seems to be a regular occurance with chase.

 

You can always call chase and ask them to reconsider their decison to take AA. Mention that you do not wish for any sort of HP, and see what they say.

Otherwise there's really nothing you can do except take a HP CLI.

 

Keep using the card and keep those balances down.





Total Revolving Limits $254,800

Message 2 of 42
mikesonthemend
Valued Contributor

Re: Yikes! On the chopping block with Chase!

Sorry for the AA, OP.

 

Happened to me with a different creditor. Just plain sux.

 

I am curious, would you mind sharing a little info about your last few payments to Chase? As in, were they small, or smaller than usual?

 

 




Living through Darwinism is so much worse than learning about about it in school.
Message 3 of 42
Anonymous
Not applicable

Re: Yikes! On the chopping block with Chase!

Just came by to say welcome to the forums! =) I only have the Chase Amazon card and I can only dream on the CLs you have at the moment, so I can't really offer much advise. This forum is a goldmine of knowledge though, you will be taken care of!

Message 4 of 42
UpperNwGuy
Valued Contributor

Re: Yikes! On the chopping block with Chase!

I had to learn the hard way never to travel unless I had the full cost of the trip saved up before making the reservations.  I used to carry balances on my credit cards because of travel.  A couple of adverse actions from Citi and Bank of America taught me that was a bad strategy. I've been especially cautious with Chase.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Sapphire Preferred • Chase Freedom Unlimited • United Explorer • UNFCU Azure
Message 5 of 42
LittleSal
Frequent Contributor

Re: Yikes! On the chopping block with Chase!

I would use other cards and SD Chase!
Message 6 of 42
NRB525
Super Contributor

Re: Yikes! On the chopping block with Chase!

I had balance chasing on several Chase cards, and Citi and BofA. With high utilization, it is a risk with most lenders.

What is your plan for pay off of these balances? Are you paying full-rate interest? I took my time paying everything down, but most of the balances I had were on what I considered reasonable interest rates.


Do you carry balances on other cards? Can you list out your cards, limits, and last statement balances? Banks look at your overall balances through soft pull, so that can be a factor as well.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 7 of 42
HeavenOhio
Senior Contributor

Re: Yikes! On the chopping block with Chase!

How long ago did this happen?

Message 8 of 42
bourgogne
Valued Contributor

Re: Yikes! On the chopping block with Chase!

how long ago was this?  I would have had them do the review on the spot but that is me.  they did a review when I got my 8th card from them, I did not like it but I have that 8th card.  a review will take about 10 days and may or may not result in a hp.  a computer did this, you fell out of bounds in their risk assessment.  do you have your income updated on the portal?  I would do that before you contact them.  if you paid them off then you stand a good chance in getting this reversed.  keep both cards at zero, update the income and give them a call.  you lose 100% of the shots you don't take.  I find them very easy to deal with

Message 9 of 42
Anonymous
Not applicable

Re: Yikes! On the chopping block with Chase!


@Anonymous wrote:

I've had 2 Chase cards for about 5 years -- SWA (SL $21k) & Slate (SL $5,700, auto-increased to $8,200 after 18 mos). We use the SWA for travel, fuel, lodging, etc and the Slate was initially used for the BT option, but eventually used it regularly, paying it down. 2018 was a pretty busy travel year so we used the SWA quite a bit along with a few other rewards cards and utilization got up to about 65% (I know, gasp right). I knew we would have them paid off in no time, however, before we could do so, Chase put us on the chopping block & was the ONLY card issuer to decrease limits on BOTH cards (SWA down to $15,700 -- balance was at $15,000 at the time; Slate down to $1400?!), which of course had a huge impact on my overall score. When I contacted them to complain, I was told I could have my accounts reviewed and the decision reconsidered, but I declined. I was so furious that I decided to pay them both off instead, vowed never to use them again, and was ready to close the accounts altogether. Of course, this was all BEFORE I found this forum, and all the helpful info; So glad I gathered my composure and stumbled upon this community when I did. 

 

So now that I've simmered down a bit, what's my recourse, if any? Anyone else had this happen to them with Chase or any other card issuer? SHOULD I have allowed them to review my account? Wouldn't that initiate a HP? WWYD? Thanks in advance.


Sorry about all this OP.  you know, CC companies all have their own quirks and weird things they each do to protect themselves.

with Chase, its the one i always keep a balance on.  IMO, i think they capture your spending habbits and when you stray from those very much is when they creep in and give a lil bit of AA.  i have carried 5k for several months with them, and then pay off, now with Synchrony, they have balance chased me several times, then restore my limit.  unsure why they give you the limit then you use it they take it away, yet restore it.  seems odd, but oh well.  (sorry i started to ramble, too much coffee today Smiley Very Happy )

Message 10 of 42
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