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Help! Chase cut my credit line after balance transfer!

The last post in this topic was posted 4174 days ago. 

 

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I have a Chase Freedom Visa that used to have 12000 limit. Chase sent me BT checks in the last couple of months, and I used it to pay off my BOA credit card balance by going to a BOA branch and making payment to my card using the BT check. The amount was 6000. I had paid off the Chase balance before the statement cut on 5/3, and the balance on the card at the time I used the BT check was about 300 bucks.

 

Now that was Wednesday 6th, and today I checked out Chase website to see if the BT has posted, and I see that my credit line has become 1700, with a pending balance of about 6000, and available credit of 0. I called Chase, and I was told that my credit line was reduced on the 7th, and that I need to talk to another department if I want to ask just what the heck has happened, and I have to wait until Monday because that department is closed during the weekends.

 

I have had this card since 2005, and I have never missed a payment, and I have always paid the balance in full since 2006. I have two other Chase cards (formerly WaMu cards), one with 2500 limit and 0 balance and another with 5500 limit and balance of 2360. Except for one major baddie (multiple delinquencies on a student loan in 2003 and 2004), my credit is clean. I have about 57000 available credit (well, before the 10300 cut by Chase) and about 11000 credit card debt.

 

What should I do? I'm very concerned about Chase not honoring the BT check and returning that payment to BOA, because that would be considered as default by BOA and I don't want to think what that would do to my BOA account!

 

I'll very much appreciate any advice on how to (or who to.. anyone know a secret number?) talk to Chase to deal with the problem. What a nightmare...

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I have a Chase Freedom Visa that used to have 12000 limit. Chase sent me BT checks in the last couple of months, and I used it to pay off my BOA credit card balance by going to a BOA branch and making payment to my card using the BT check. The amount was 6000. I had paid off the Chase balance before the statement cut on 5/3, and the balance on the card at the time I used the BT check was about 300 bucks.

 

Now that was Wednesday 6th, and today I checked out Chase website to see if the BT has posted, and I see that my credit line has become 1700, with a pending balance of about 6000, and available credit of 0. I called Chase, and I was told that my credit line was reduced on the 7th, and that I need to talk to another department if I want to ask just what the heck has happened, and I have to wait until Monday because that department is closed during the weekends.

 

I have had this card since 2005, and I have never missed a payment, and I have always paid the balance in full since 2006. I have two other Chase cards (formerly WaMu cards), one with 2500 limit and 0 balance and another with 5500 limit and balance of 2360. Except for one major baddie (multiple delinquencies on a student loan in 2003 and 2004), my credit is clean. I have about 57000 available credit (well, before the 10300 cut by Chase) and about 11000 credit card debt.

 

What should I do? I'm very concerned about Chase not honoring the BT check and returning that payment to BOA, because that would be considered as default by BOA and I don't want to think what that would do to my BOA account!

 

I'll very much appreciate any advice on how to (or who to.. anyone know a secret number?) talk to Chase to deal with the problem. What a nightmare...

 

I'm not sure what you can do. If it happened to me I would be pretty mad. Your best bet is to keep all of the transaction documentation you have, keep the booklet that came with the checks, and call Chase on Monday and try to be nice...

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I have a Chase Freedom Visa that used to have 12000 limit. Chase sent me BT checks in the last couple of months, and I used it to pay off my BOA credit card balance by going to a BOA branch and making payment to my card using the BT check. The amount was 6000. I had paid off the Chase balance before the statement cut on 5/3, and the balance on the card at the time I used the BT check was about 300 bucks.

 

Now that was Wednesday 6th, and today I checked out Chase website to see if the BT has posted, and I see that my credit line has become 1700, with a pending balance of about 6000, and available credit of 0. I called Chase, and I was told that my credit line was reduced on the 7th, and that I need to talk to another department if I want to ask just what the heck has happened, and I have to wait until Monday because that department is closed during the weekends.

 

I have had this card since 2005, and I have never missed a payment, and I have always paid the balance in full since 2006. I have two other Chase cards (formerly WaMu cards), one with 2500 limit and 0 balance and another with 5500 limit and balance of 2360. Except for one major baddie (multiple delinquencies on a student loan in 2003 and 2004), my credit is clean. I have about 57000 available credit (well, before the 10300 cut by Chase) and about 11000 credit card debt.

 

What should I do? I'm very concerned about Chase not honoring the BT check and returning that payment to BOA, because that would be considered as default by BOA and I don't want to think what that would do to my BOA account!

 

I'll very much appreciate any advice on how to (or who to.. anyone know a secret number?) talk to Chase to deal with the problem. What a nightmare...

 

sorry to hear about the CLD hope you can get it reversed

I don't have any backdoor numbers but you can try a search on CB or ficoforums

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What is the credit limit now? You say it was $12k, that you put through a $6k BT check, but then say the cut was over $10k. I'm a little confused.

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What is the credit limit now? You say it was $12k, that you put through a $6k BT check, but then say the cut was over $10k. I'm a little confused.

 

 

They dropped OP's CL to $1700. The BT check didn't post yet. ( At least that's the way I read OP's post)

Edited by beancurd

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A good reason to always make BT checks out to yourself and deposit into your bank, and then pay off a creditor after that check clears.

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A good reason to always make BT checks out to yourself and deposit into your bank, and then pay off a creditor after that check clears.

My advice would be to take Chase bt by completing the form at the website rather than using the convenience checks.

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Sorry to hear about your CLD.

 

Chase is an odd creature... here today gone tomorrow. They will say: "too much available credit". :P

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I'm so sorry to hear this... I hope your calls to CS turn this around for you.

 

Chase really is the devil, imnsho. I've lived and learned not to trust them at all, ever. ever.

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A good reason to always make BT checks out to yourself and deposit into your bank, and then pay off a creditor after that check clears.

My advice would be to take Chase bt by completing the form at the website rather than using the convenience checks.

This would be my advice also, especially with Chase. I don't trust them.

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I have a Chase Freedom Visa that used to have 12000 limit. Chase sent me BT checks in the last couple of months, and I used it to pay off my BOA credit card balance by going to a BOA branch and making payment to my card using the BT check. The amount was 6000. I had paid off the Chase balance before the statement cut on 5/3, and the balance on the card at the time I used the BT check was about 300 bucks.

 

Now that was Wednesday 6th, and today I checked out Chase website to see if the BT has posted, and I see that my credit line has become 1700, with a pending balance of about 6000, and available credit of 0. I called Chase, and I was told that my credit line was reduced on the 7th, and that I need to talk to another department if I want to ask just what the heck has happened, and I have to wait until Monday because that department is closed during the weekends.

 

I have had this card since 2005, and I have never missed a payment, and I have always paid the balance in full since 2006. I have two other Chase cards (formerly WaMu cards), one with 2500 limit and 0 balance and another with 5500 limit and balance of 2360. Except for one major baddie (multiple delinquencies on a student loan in 2003 and 2004), my credit is clean. I have about 57000 available credit (well, before the 10300 cut by Chase) and about 11000 credit card debt.

 

What should I do? I'm very concerned about Chase not honoring the BT check and returning that payment to BOA, because that would be considered as default by BOA and I don't want to think what that would do to my BOA account!

 

I'll very much appreciate any advice on how to (or who to.. anyone know a secret number?) talk to Chase to deal with the problem. What a nightmare...

I have trouble reading between the lines SINCE THERE IS NO SPACE THERE (and I was never trained to do so)

 

If I get this right you wrote a $6,000 check and they cut you to $1,700 and the $6,000 will BOUNCE sky high???

 

:lol:

 

I would be on the phone right now...

 

Both bank will not like it very much

 

Perfect timing to cut a credit limit with a PENDING CHECK OUT

Edited by GEORGE

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sounds like a nightmare....I wonder if the original poster has any updates on this thread.

So using the balance transfer check from Chase triggered the CLD? That just seems so sleazy of them. How is that even legal? Or was it just a coincidence that you received a CLD around the same time you used the convenience check?

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sounds like a nightmare....I wonder if the original poster has any updates on this thread.

So using the balance transfer check from Chase triggered the CLD? That just seems so sleazy of them. How is that even legal? Or was it just a coincidence that you received a CLD around the same time you used the convenience check?

 

I am not sure the check was what caused the CLD or the economy. It sounds like bad timing...but would love an update from the OP on how this worked out.

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Guest Mastas

They pulled this on me about a month ago.

 

Received a series of low interest BT checks over half a year. After a routine online check deposited the BT checks a few days later. A few days after that I went online to check to see if it cleared and bam! noticed the CLD to below what I wrote the check for.

 

Basically called a pleaded mea culpa to some csr. Guess he felt sorry for me...all I ended up with was nsf fee at my depositing bank. They waived their fees, plus I didn't lose my promo 0% I had on an existing BT.

 

Cuda been worse I guess.

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