I beg to differ the review of my account was random considering I had called to specifically ask about making purchases and retaining the existing APR. Making these calls has cost me in the end. The bottom line is I feel I never should have called Chase the first time to inquire about the changes in terms, and I certainly should not have called to inquire about the reduction in my credit line. Obviously, I have proven my ability to manage and pay off my credit if they are willing to provide me with a $21,000 credit line while having three other cards with Chase.
Also, when I applied and received the Continental card with a $21,000 credit line two years ago, my balances on these long-term cards were a lot more than they are currently. I have affinity cards with other hotel programs (where my credit line hasn’t been reduced) which I can stay and earn bonus points with their program.Īnother point to make is the 2 long-term cards have been paid down by more than half since their maximum balances. I even called and wrote a letter to Marriott, where I am a lifetime platinum member (their top elite guest recognition level), to explain that Chase had reduced my credit line to $1200 and I would not be staying at their properties if I can’t use my Marriott Chase card where I receive bonus Marriott reward points. I called Chase back to explain that I use these cards specifically for purchases with these companies, and these new $1200 limits make it impossible for me to travel with these preferred vendors. I travel weekly and the Marriott and Continental cards that I pay off monthly have had balances up to $3600 in the past. I ended up purchasing the furniture using my Platinum American Express card so that I will have to pay it off next month. Obviously, I was fuming over the fact that they could do this and I immediately cancelled my two long-term cards. I checked the other cards and those limits were reduced to $7600 and $1200 or essentially about $300 over my current balance. I called Chase to find out why the card was declined and I was told my credit limit was reduced to $1200. I pulled the Chase card with $21,000 limit and it was declined. Later that day we proceed to the store to buy the furniture, and obviously I was forced to use another card. The agent and supervisor both refused to increase my credit line, even though I had over $35,000 available credit with Chase that I said he could take from and apply it to this card. Obviously, I had plenty of credit to purchase the furniture, but I specifically wanted to use the one card since I considered it long-term and the interest rate fair. Pleading my case, I explained I had 3 other Chase cards, one with a balance of $7200 and credit limit of $16,400, another with a balance of $700 and credit limit of $7000, and the final card has a balance of $800 and credit limit of $21,000. I was told it was a random review of my account and they decided I had too much available credit. I called the number on the letter asking why my credit had been reduced. Well, the day before we went to pick up the furniture we had ordered, I received another letter from Chase saying that my credit limit had been reduced to $7300. The furniture purchase was about $4500, so it’s very easily within my limits. On this card, I had a balance of around $6500 with a credit limit of $15,500. I recently got married and we have been planning to make some furniture purchases.
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