Has Your Credit Card(s) CL Been Reduced, Closed, or Frozen? If So, Please Explain!

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Originally Posted by Wanderer

Agree that overdrafts are far more profitable. Note several of the big boy banks want you to use your credit card as the loc and then charge you a minimum fee to use your card $10 is pretty common or a percentage above the amount. Unreal. It was discussed that a credit union or regional bank may be a place to get a credit card and so on. I have done that and they still treat me with respect. I have a $10,000 Gold Visa with 6.9% Purchase and Cash Advance rates with no fees for writing checks on the credit card account or ATM fees unless the ATM provider charges a fee. No one does that from the big boys. Regular svaings account pays 2.01% APY with regular checking (no minimum balance) paying 1.51% APY. There are good local and regional banks. MY credit union is a little less aggressive but close and very customer oriented!!!:laugh::cool:

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I really like credit unions too and I always try to get people to join one.

Wanderer, which CU are you with? Just curious

Before i started banking with Boa, I was a member of a credit union for many years until the chairman pushed for and members agreed to become a mutual bank.:upset:

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Originally Posted by eugene66

Before i started banking with Boa, I was a member of a credit union for many years until the chairman pushed for and members agreed to become a mutual bank.:upset:

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That would tick me off. Atlantic Coast Credit Union did that.

HJM331 ... Oops...sorry. The write up I put in this post was for a local bank. Didn't catch it until you asked. My credit union is located out of northern Minnesota where they have Share Savings at 0.75% interest, Share Super Savers at 1% plus. Checking depends on your needs with Certificates of Deposit ranging from 1.20% to 3.10% interest. Visa Credit Card runs Prime plus 4.74% depending on credit approximately 7.49% for the best credit risks. Auto Loans New 5.14%, Boats Loans New 6.59%,:embarrassed: Other Loans Secured 6.94% with Personal Loans at 13.34%. Lines of Credit (checking overdraft) run 18% APR no variations. Note you must live in a very close geographic area to be a member. No flexibility. Pretty common for Credit Unions.:white-flag:Love my credit union. Credit Line on the Visa Platinum Card is $5,000.:cool:

Wanderer....Very nice cards you have there...

*singing* Michael Jackson, "you are not alone"


Good day all!

I went to make a small purchase online using my Chase MC (former WaMu customer) To my surprise the transaction was declined, I thought I entered the numbers wrong , re-entered numbers , same response "declined" I went on to use another card, making a mental note to sign onto my account later. Signed onto the Chase account, all looked to be in order 2500$ CL, zero balance.


I placed a call to the 800#, initially the automated system tipped me off reciting my available credit and balance as ZERO, I went on to request live help only to learn my account was closed due to information reported on my Experian report, thing is, I checked my credit monitoring alerts, there was no inquiry from Chase there. My report is clean but I don't think this has nothing to do with Chases decision to close the account. Oh, well...Chase MC, RIP.


Too bad, I was in the process of opening a Chase checking/savings account with an 8K deposit, not now :embarrassed:

Sorry to hear it, Tia. The creditors usually get updated scores called Scorenet Scores each month. It does not require a hard pull and most credit reoprts have section under inquiries for account reviews.

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Originally Posted by Tia530

*singing* Michael Jackson, "you are not alone"


Good day all!

I went to make a small purchase online using my Chase MC (former WaMu customer) To my surprise the transaction was declined, I thought I entered the numbers wrong , re-entered numbers , same response "declined" I went on to use another card, making a mental note to sign onto my account later. Signed onto the Chase account, all looked to be in order 2500$ CL, zero balance.


I placed a call to the 800#, initially the automated system tipped me off reciting my available credit and balance as ZERO, I went on to request live help only to learn my account was closed due to information reported on my Experian report, thing is, I checked my credit monitoring alerts, there was no inquiry from Chase there. My report is clean but I don't think this has nothing to do with Chases decision to close the account. Oh, well...Chase MC, RIP.


Too bad, I was in the process of opening a Chase checking/savings account with an 8K deposit, not now :embarrassed:

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I'm sorry to hear about your situation Tia. I cut Chase loose shortly after they acquired my Wamu credit account. This is the reason I closed all of my credit card accounts with the exception of Discover. I'd much rather know where I stand. There's nothing worse than believing you have something available to you, make plans based upon that belief, only to find out later that your beliefs were wrong. I've heard and read so many horror stories, it unbelievable. It seems no one is safe. It doesn't matter that you been an excellent customer and abided by the terms of the credit card agreement anymore. Thanks, but no thanks.

Looks like Chase is on a mission to close as many former Providian and WaMU accounts as possible regardless of the reasons they give you are valid or not.

Sorry to hear about the account closures but I'm expecting my account to be closed in a short period of time.

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Originally Posted by Tia530

Signed onto the Chase account, all looked to be in order 2500$ CL, zero balance.

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Mine still shows that I have credit available... My statement cut a few days ago and it doesnt say anything about the account being now closed. I guess they want to embarrass u at the counter :embarrassed:

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Originally Posted by RivasGlo

Mine still shows that I have credit available... My statement cut a few days ago and it doesnt say anything about the account being now closed. I guess they want to embarrass u at the counter :embarrassed:

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I still can't believe WaMu is gone. I wasn't a customer, but they sounded like a good bank to do business with.

They is tripping on the cardholders. Now they wanna move over in my area (West Coast) plus send us offers to open a checking account, and we get $100. Whateva Chase! I know your dirty lil secrets:innocent:

I don't trust Chase so therefore, I wouldn't do business with them.

My account is still open but I'm expecting them to close it anytime soon. The only thing they did within the past month is increase my purchase APR from 17.24% to 20.24%.

The ratejack doesn't really effect me because I rarely use the card and when I do, I PIF.

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Originally Posted by RivasGlo

Mine still shows that I have credit available... My statement cut a few days ago and it doesnt say anything about the account being now closed. I guess they want to embarrass u at the counter :embarrassed:

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Mine does too and its been closed for months.:dumbfounded:

I don't like their Online Banking interfaces, I hope they give it a makeover soon. I hate it when transactions pile up and there's a huge gap between the transaction description and the amount, it hurts my eyes trying to figure out what belongs to what.

I do like Chase. They have given me the highest CL that I have right now (chase Freedom at $5,000) Everything else seems to be holding steady at around $2,000. My APR's with Chase seem to keep going down and not up.

Eldarwen, it looks like they like you!

That is too bad that they are alienating so many cardholder's. They do seem to be forgeting that a lot of previous WaMu cardholder's were also WaMu depositors.

Well all of the Wamu branch signs and logos have all been officially changed to Chase's in the ATL.

Yeah Meya, they send my that corney coupon every so often asking me to open a checking account and they'll give me $100. I'm like hjm331, I don't trust them and will have nothing to do with them.

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Originally Posted by charonh

Well all of the Wamu branch signs and logos have all been officially changed to Chase's in the ATL.

Yeah Meya, they send my that corney coupon every so often asking me to open a checking account and they'll give me $100. I'm like hjm331, I don't trust them and will have nothing to do with them.

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Same thing just happened to my friend last week. Had a WAMU visa with a 2,000 CL for the last 4 years. Got a letter in the mail saying that chase was closing his account due to information on the credit bureau. Reason given;

- Length of time in which other bank cards have been open with other lenders is too short

This sounds like a bunch of BS. They are digging themselves deeper and deeper in the hole. Just as bad as AMEX has done to some people.

I look at it this way, Chase is becoming very conservative and has tightened standards. In the terms and conditions of all my credit card issuers it states that they can give me a CLD or cancel my account with them for little or no reason. I think Chase is weeding out people that don't fit their credit profile. I think that Chase is kind of the new Amex. I view Chase as the new ultra prime issuer.

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Originally Posted by Eldarwen

I look at it this way, Chase is becoming very conservative and has tightened standards. In the terms and conditions of all my credit card issuers it states that they can give me a CLD or cancel my account with them for little or no reason. I think Chase is weeding out people that don't fit their credit profile. I think that Chase is kind of the new Amex. I view Chase as the new ultra prime issuer.

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I believe that Chase is trying to get rid of the WaMu credit cards as Chase views them as sub prime. Chase purchased WaMu for the banking operations (branch banking) and more or less had to absorbe the WaMu/Providian credit cards with it and now they are trying to get rid of them. Not saying it is right, but that is what I believe they are doing.

The WaMu's here in Colorado have temporary Chase banners covering the WaMu signs, very similar to what happened when Wachovia bought the World Savings. Interestingly enough, I can still apply for a WaMu checking account online. Not that I would, but strange that they are still offering it.

Chase didn't really get into the sub-prime mess like other creditors did.

]Today i logged on my Citi card account and found the luv button on the list under tools & services and clicked on it and was approved for a 3600 cli with no credit pull bringing my total credit line to 7600....I will take it and run with it...:laugh:

Woo Hoo, party at eugene66's house. Congratulations, that's awesome. I guess Citi still has some love to spread around.

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Originally Posted by eugene66

]Today i logged on my Citi card account and found the luv button on the list under tools & services and clicked on it and was approved for a 3600 cli with no credit pull bringing my total credit line to 7600....I will take it and run with it...:laugh:

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That's awesome news and great CLI you got there...

Thanx..... Last year about this time Gemb decreased my chevron account and i was furious so i closed all accounts with (3) them, now a year later i now have three prime cards so I think the tradeoff of cards was worth it. :cool:

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Originally Posted by eugene66

]Today i logged on my Citi card account and found the luv button on the list under tools & services and clicked on it and was approved for a 3600 cli with no credit pull bringing my total credit line to 7600....I will take it and run with it...:laugh:

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:white-flag::white-flag::white-flag: u go baaaabbbyyy!

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Originally Posted by eugene66

Thanx..... Last year about this time Gemb decreased my chevron account and i was furious so i closed all accounts with (3) them, now a year later i now have three prime cards so I think the tradeoff of cards was worth it. :cool:

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I agree with you wholeheartedly eugene66. You traded in your clunkers for much better products/cards that will reward you greatly in the long term, lol. Mucho kudos to you!!!!!!!!!!!!

This is my favorite place to be because everyone here gives of themselves of their experiences with credit and those with good to excellent credit supports those who are on the rebuilding trail.:cool:

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Originally Posted by ColoNative

Sorry to hear it, Tia. The creditors usually get updated scores called Scorenet Scores each month. It does not require a hard pull and most credit reoprts have section under inquiries for account reviews.

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Good afternoon all,

Thanks for the encouragement and knowlege, you guys are great. I finally recieved the dreaded letter from Chase on Saturday. As it has been pointed out they have the ability to close accounts with little to no reason. It was a form letter saying due to too many of this, not enough of that, length of credit file so on and so forth basically a ploy to rid themselves of Wamu/Providian customers. I had no idea WaMu was a sub~prime lender or I would never have kept the card. Charonh that was a very smart move and I can honestly say I knew this was coming, I coud feel it.

I decide to call and "toy" with Chase a bit, CSR comes on the line with the usual banter to verify who you say you are, on to the issue at hand, he begins to explain the items listed in the letter which I already know. I plead my case with the "I'm in good standing with the card and other lines of credit" nothin doin, transferred me to stupidvisor, same ol song, I then asked, are you guys getting rid of good WaMu customers? He says no, if that were the case they would have been closed the accounts BUT at the bottom of the letter it clearly reads "WaMU Closure" on that note I relented stating if Chase didn't want me then I do not need them either. I took the advice from reading here and joined Pentagon Federal Credit Union and USAA, once I establish a good relationship with them, I'll apply for a card from each and dump the rest except Discover and Citi.

~tia
:white-flag:

~tia

Sorry to hear your story, but glad to hear you are with a "Credit Union!" Pretty soon, Colo (as well as other's) advice on Cu's is going to turn this credit cycle around. Seems like we are going to have to shut down these so called Top of The Line Banks and go private with Cu's. When we used to try and recommend cards like Chase, Cap 1, or Bofa to those who were stuck with Tribute, Aspen...etc., seemed like we are slapped in the face with the cards of recommendation. Feels like I am starting credit all over again. Keep your head up and roll with the CU's, you made the best choice in banking and credit.

Tia,

You have joined some of the best institutions out there. Pentagon FCU is a great credit union (I am a member myself) and USAA is fantastic-they are constantly rated the best company for everything from insurance, credit cards and mortgages.

Congrats and good luck!

Good move Tia. It shouldn't be considered a love loss.:innocent: Chase has issues. Besides, you're better off with a credit union. They are more people oriented and are not caught up with the politics like major financial institutions. I still have my Discover open also, but if I even get an inkling or itch that they're up to something, I will let them go too. Life is too short to be cringing every time you go to the mailbox from fear of an account closure/limit reduction letter. I would love to become a member of USAA, but for now, my school's credit union will suit me just fine.

I just closed my 2 GEMB cards, one of them without notice lowered my credit line to $6 above balance on one of them. I had them to take advantage of deals the stores had but I dont need this type of thing right now, not knowing what they might do next.

I agree wholeheartedly with you rsty99. They closed my Lowe's card with an excellent payment record and I believe a $16 balance at the time. The limit was a meager $300. Meanwhile, my Rooms to Go and Chevron cards, both of which I've been late on and have higher limits ($6000, $800 respectively), were left untouched. All three cards are backed by GEMB. I know, no rhyme or reason. I closed my accounts and have no regrets. Who has time to try and figure out their rationale. I gave up.:innocent:

Bad news everyone! Pulled my CR on Monday and noticed that Macy's reduced my credit line from 500 to 300 (and I owed 260 to the card). Called in to find out what's going on and I was told that the bank has been doing CLDs on a lot of cards due to "changing economic times." I asked her why I wasn't notified of the decrease and she stated that in the CC holder agreement they don't have to notify any1 if they've done a decrease on the account. She told me that to wait 6 months and call in to see if they could increase the limit back to it's original amount. I said aren't we entitled to 3 month CLI based on the cardholders agreement and she said yes, but that every cardholder was going to be receiving a revised one in the mail soon that extends the CLI to only every 6 months....stay tuned everyone and check to see that you aren't in the same boat as me....

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Originally Posted by Brian23

Bad news everyone! Pulled my CR on Monday and noticed that Macy's reduced my credit line from 500 to 300 (and I owed 260 to the card). Called in to find out what's going on and I was told that the bank has been doing CLDs on a lot of cards due to "changing economic times." I asked her why I wasn't notified of the decrease and she stated that in the CC holder agreement they don't have to notify any1 if they've done a decrease on the account. She told me that to wait 6 months and call in to see if they could increase the limit back to it's original amount. I said aren't we entitled to 3 month CLI based on the cardholders agreement and she said yes, but that every cardholder was going to be receiving a revised one in the mail soon that extends the CLI to only every 6 months....stay tuned everyone and check to see that you aren't in the same boat as me....

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good lord, we are almost out of the recession and now they decide to do this?