overlimit

[Anonymous]

i am having a dillema,  my credit limit for chase mastercard as far as i know was 7800, i had that card for 3 years without any problems,and i do not use it that much.  in fact, last february 2007 i used it for  $30.45 which i paid off and on time and in that billing statement it was reflected that my credit limit was still 7800. Last march 23, i used the card to purchase plane tickets for $4100.00 and that was the first time i charged that card for a huge amount. Last week ( april 21) i  called chase because i got worried since i did not receive any statement. to my horror i found out that i am overlimit, since they downgraded my credit limit to 2500. i asked them the reason for the downgrade and why i was not notified. they replied that it is because i am not using my card that often!!!??.,that same day i paid the full amount of 4100.00. i thought everything was already okay. but when i checked my credit report this morning, i found out that they reported me for "potentially negative report" (or something like that) to the credit bureau for overlimit.  i called chase and asked why i was reported since i have paid it in full ( and not even a late payment  because they said that the due date for payment is on may 15). can that "potentially negative report on my credi't report be removed??? and how????? if i leave it alone will it hurt my fico score real bad?( my credit score as of now is 750)  i NEED ADVICE desparately.

SORRY FOR MY  GRAMMAR BUT I HOPE IT IS UNDERSTANDABLE.

[Anonymous]

I would call into Chase and make a pest of yourself. Demand to talk to supervisors, to managers of supervisors, and so on. I've worked call centers for six years now and I can tell you the secret to success is getting your call escalated, and calling repeatedly, escalating EACH and EVERY time. Eventually they will get tired of dealing with you and give you anything (reasonable) you want.

[Anonymous]

Unfortunately, this sounds like an area where the laws don't protect you. However, hop on over to creditinfocenter and post your question. Probably someone there who knows definitively.

File a complaint with the BBB and the FTC. Probably won't help, but add to their list of unhappy consumers.

Also, send both a letter and Email to U.S. Senator Carl Levin. He recently held hearings on credit card company practices, and this is definitely something the legislature should address.

[Anonymous]

Yet another in a long list of reasons to never charge a CC anywhere near its limit unless you simply have no other option.

[Anonymous]

I would request that they restore the original limit and remove the negative reporting histopry.  I would also point out that I was not notified of the limit decrease.  At some point I think Chase had a responsibillity to decline a purchase that much over the credit limit.  You may want to contact the FTC and notify them that not only was your limit decreased without notification but that the bank subsequently approved a charge for almost double the amount and then decided to charged you overlimit fees.  Smells fishy to me.

Sounds like they did the limit decrease after the approval for that transaction since I highly doubt you would have been approved for that much if your limit was almost half at the time.  I would start by giving them a call and requesting that the original credit limit be restored or at least enough to cover that and as I said negative reporting be removed.

[Anonymous]

thank you for all the advice!!!!