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midlifeawakening

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  1. I can definitely do this. That was the plan all along with the cash infusion I recently got but the choppage stopped me in my tracks. Hi Pot O....forgive me but can you clarify what 5/24 means? I did a search on the term but came up with nothing. Thanks!
  2. Thank you! Researching some other threads on here, it seems the advice with Chase is to make small payments towards the remaining balance for awhile at least. Otherwise, they could start the balance "chase" (no pun intended). If I want to get utilization under 50% then I have to get the choppage under control correct?
  3. Right now its the Chase card with 82% due to the choppage. next its Penfed with 68%.
  4. Thank you cv91915. My utilization is at 30% now but its only been that way for about a month. Would you suggest I continue to pay it down, wait a couple months?
  5. I'll try to keep the back story short. Basically I started a new business venture a couple years ago that didn't pan out like I planned and I increased my DTI and utilization significantly during this time in order to just keep up. About six months ago, I purchased another business (got out of the failing biz) and sold some assets to pay down debt and invest in this hopefully 🤞more successful venture. One of those cards was my Chase Sapphire preferred. Fast forward a month after a large payment towards the balance (not a full balance payoff but about 60%) they chopped my limit substantially!!! This was going to be my preferred personal card going forward for the rewards. I thought maybe I'll finally get to take a vacation some day and use points and this was one of the best cards out there and I already had it my portfolio. My question is, has anyone had any success or have any tips for getting the limit restore or at least increased? From researching CB it sounds like Chase is a real beast to deal with which is unfortunate. They were always really good to me in the past. Other info that might be helpful: I have both my personal and business checking with them I have a Chase Amazon Visa with a super low limit that has been at 0% utilization for at least couple years now My business card is an Amex Blue Business with a $18K limit and 0% utilization. Chase declined me for a business line of credit due to NO CREDIT (for the business that is) and told me to reapply in 6 months My PenFed personal credit card is the only one with a high balance now and I'm working on that one little by little I did establish a pretty good relationship with a business rep at my local branch and I thought about going in to see if he could help (he's reversed some fees for me in the past on the business account) but I don't want to try that first without more research. Thanks in advance for the advice!

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