May 08
24

Chase reallocated my credit lines unsolicited!

1 Comment

I have a very odd letter from Chase yesterday about my credit card accounts with them. For whatever reason they decided to review my credit card accounts and reallocate credit limits between two of them. They decided to take $2,000 from a Flexible Rewards Visa that I hardly ever use and add it to my Chase Disney Visa, which is dormant other than the 0% balance transfer I am currently floating on the card.

The other account is still open and has about $13,000 in credit left on it, and considering my utilization on the Disney card was above 50% the move helps my credit score. However it still kind of bothers me that Chase took it upon themselves to reallocate my credit lines without prior notice or authorization. What would have happened if I was planning to make a large purchase on the card they took limit away from and went over the new lower limit?

Oh well, I guess no harm no foul. Just a word of warning for those of you with multiple Chase accounts that they may decide to monkey with your credit lines as well.

Tags: , ,

This entry was posted on May 24, 2008 at 12:16 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Credit Cards by BillyOceansEleven 1 Comment

1 Response to "Chase reallocated my credit lines unsolicited!"

  • Lost In The Flowers says:
    May 27, 2008 at 5:20 pm
    Reply

    Interesting. JP Morgan/Chase like all the rest of the big board players have taken a hit on the mortgage scene. BOA, Wachovia… it doesn’t matter what major bank the headlines are about, they are loosing money. While they really prefer to extend unsecured credit to those with poor credit ratings because they make tons more interest on these struggling people, they have to cover their backs when dealing with the Board of Directors. All manner of oddities can occur when one plays with other people’s money!

    It is not you embarrassment at a large purchase not being approved on Card A. The greater concern inside their offices is how to cover their assets and remain the recipient of large bonuses because the brought so much income to their investors (aka The Board).

    Don’t take it personally, it is not about you. It is just business as performed by a piece of paper. Welcome to control laid down by an incorporation. Paper has no senses, no heart and no feelings … at least not since the chainsaw cut off the tree that made the sheet the papers of incorporation were filed with the government on.

    Stop using plastic! Revert to cash before they do away with that choice too.

Leave a Comment