Chase Bank - They Lowered my Credit Limit Twice Now
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New Reviewer
Chase, Banking & Credit Cards
I finally had it with you reducing my credit limit. About 10 years ago you reduced it from 60K to 30K.
Now you reduced it from 30K to 15K. I never seem to get the letter from you stating you will reduce my credit limit. Each time after the fact I have received an email saying your credit limit has been reduced? Seems odd you only send them via USPS which cant be proved but the last notice via email?
Are you reducing my credit limit because of my age?
Thinking I may not be able to pay for the card balance like I have been? Are you doing this with all seniors? It is the only thing that makes sense. Cant be my credit score.
I feel it is time to tell seniors to get away from Chase if they want to keep their credit limit. This may be a good subject for 7 on your side? That is age discrimination!
I have other cards and all of them are a great deal higher than 15K. I have had your card since 1996 and have never been late on paying my card and I pay them in full.
According to my credit rating on your web site, I have an 8 or 836 out of 850 score. I can apply for any credit card and get a line of credit line higher than 15K but you only feel I should only have 15K and I have been with you for many years?
When I called the last few days, some say nothing they can do while another said he can ask or file something, but all he did was transfer me to the wrong people and they said they were going to transfer me to the right department and then the call was dropped. I am tired of calling back and tried of your games. They all tell me there is nothing you can do.
Do you think everyone is that stupid to believe such a lie? Not me.
You can do whatever you like and we both know it. If you do not reverse, you will never get my business again and I will take the time to warn all seniors as well as others.
Thank You
User's recommendation: Change Credit Card Companies NOW.
Preferred solution: I want my credit limit put back where it was the first time, being 60,000.00.
Chase Bank Pros: If they can reduce your limit anytime, There is no pros.
Location: Silver Spring, Maryland
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Comments
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"and I pay them in full." And there you have it. Banks do NOT make money off of people who pay their cards in full.
Banks only have a certain set amount of credit to allow out. IF you're paying your cards off all of the time or not using them, the bank will reduce your credit and move it to others who will actually use it and run balances that does make them money. Your age has nothing to do with it. Well maybe it does.
A quick Google would have told you why this is happening. And no, the other banks aren't Chase, no one cares about them.
Each time they lowered my credit card limit, they say they told me in a letter they sent. But each time, after they lowered it they sent me an email saying was lowered.
The problem with the above is they send the notice USPS and afterwords, they send an email? Why not send the original notice via email? If you happen to receive the USPS letter, you can tell them not to lower it and they don't but if you miss that letter, and they lower it, they tell you they cannot undue it??
They can damn well change it to any amount they want. I have been with Chase since 96 and always pain the balance in Full and my credit score is 826.
The action of lowering your credit limit doesn't need your approval. Whether you received the USPS notice or not, it was still going to be lowered.
You missed no deadline, nor was one offered. You also did not answer the other comment about your income being the highest it's ever been, debt low and no new negative entries on credit reports from other accounts.
You work for years to get a Higher credit limit and you maintain excellent payment history only to have them reduce your credit limit ? On the flip side, they don't give people that are months behind on payments lower credit?
If you try to complain they tell you to call customer service to discuss this? They know you have already spoke to them so telling you to do this is condescending.
They also know by telling you to contact customer service, it will ware you down each time and get you to forget the issue. I recommend that all new and old customers apply for a credit card with a different bank so you can start building your credit up and cut up your chase credit card.
Please don't tell us that this is what getting old is about. What kind of man would care if a bank lowered a credit limit that you're not using (probably why they did it)?
Banks only have so much credit to extend. If you're not using your credit limit, leaving open balances and paying interest, you're not making them money and you are WORTHLESS to them. Your being with them since 1996 means absolutely NOTHING to them or anyone else. More than likely, they move your credit to someone who is using the credit, digging themselves further into debt and making them money.
This is business pop pop, not personal. Stop acting like a whining Bet@ male and find something else to do.
If your 2025 income was the highest its ever been and your total debt load has not increased, they should not have lowered the limit. (assuming all other accounts elsewhere are in good standing)