Agreed! Thinking seriously about dropping Chase. No it does NOT report to the consumer credit bureau. Unlike Capital One, that as soon as Capital One announced the report of business to the consumer credit bureaus I closed them out. I said this awhile back, that from 1973 to 2005 I never carried a big boy bank card and had absolutely no trouble. It may be time to close them all down and walk away. I do NOT trust the big boy banks and their games. It is just not worth it. I have had too much open credit and too many cards anyway. The time is now. So far Wells Fargo is gone and Chase is up in the air along with Bank of America. Eugene66 likes Citi so I am watching them (Star insignia... can't remember it). I have dropped many cards and well over $30+K in credit so far. Have moved to regional/area bank products and credit unions (no trouble here). They seem to care.

I am over the big banks. Instead of grandfathering people in and getting tough on new applicants, they are sweeping their portfolios and cutting credit lines. All the banks are doing it; Chase, Citibank, BofA. It is insane. I just wish more people would educate themselves on the benefits of credit unions before blindly applying for the big bankcards.

Agreed! Thinking seriously about dropping Chase. No it does NOT report to the consumer credit bureau. Unlike Capital One, that as soon as Capital One announced the report of business to the consumer credit bureaus I closed them out. I said this awhile back, that from 1973 to 2005 I never carried a big boy bank card and had absolutely no trouble. It may be time to close them all down and walk away. I do NOT trust the big boy banks and their games. It is just not worth it. I have had too much open credit and too many cards anyway. The time is now. So far Wells Fargo is gone and Chase is up in the air along with Bank of America. Eugene66 likes Citi so I am watching them (Star insignia... can't remember it). I have dropped many cards and well over $30+K in credit so far. Have moved to regional/area bank products and credit unions (no trouble here). They seem to care.

Meya - are you in the fortune telling business?

Wow, sorry to hear it. Does your Chase business Visa report to the bureaus? A $7,500 reduction is a slap in the face. All of the big banks are scandalous and aren't worth carrying anymore. We all need to be giving our business to credit unions.

Oh, I've been hearing this more and more with BOA. Have a friend that has had a BOA CC for 10 years, got it up to a 10,500 CL. She has a 6,300 balance which she called and asked if they could reconsider her for a lower interest rate (she was at 29.9%). At the end of the call, no decrease in the APR and her CL which dropped to 6,500. I thought banks couldn't do this anymore, but I guess not.

Yup. The only reason to call BofA is to report it lost/stolen or the close the account. BofA is taking any and all customer interaction as an excuse for an on-the-spot review.

Meya - are you in the fortune telling business?

That is nuts for them to do that. I just switched in jan to bank with chase and the rep there told me that if I wanted to apply for a card, it's best to wait 6 months of acct history with them (even if I have perfect credit. which totally not the case lol). I just kept thinking to myself, if I have perfect credit and I want a CC with my new checking account, why would these goons decline me. And then I kept rationalizing it in my head that it was clearly because they are not opening any new CL at this time because somethings gotta be going on with them.

Found out today that BOA will reduce my credit limit on one of my Visa Signatures by $20K. From $31K to $10K.

The reason given was I had too much credit. Never late on any bill, credit balances on all my credit cards, highest utilization on any card at any time 10 percent.

Oh, I've been hearing this more and more with BOA. Have a friend that has had a BOA CC for 10 years, got it up to a 10,500 CL. She has a 6,300 balance which she called and asked if they could reconsider her for a lower interest rate (she was at 29.9%). At the end of the call, no decrease in the APR and her CL which dropped to 6,500. I thought banks couldn't do this anymore, but I guess not.

OMG!!!!! I am so sorry to hear that happen to you. I know they are coming at mines one day because I am slowly reducing my debts. That is like soooo wrong, but you know what, when they see that you have too much available credit they will begin to reduce it. Wow, I am lost for words. Keep your head up and move on, they probably did you a favor anyway.

Meya - are you in the fortune telling business? Good ole Chase came back and reduced my Chase Business Visa Ink CL from $10K to $2.5K. Now that is a bite. Problem I have is too many open accounts with large CL's and I can't use them. Yes, loosing accounts seems to be a sign of the times. In my entire life (1973 - 2005) I never had a bank credit card with the big boy banks. Note, the only one's who have bitten me are the big boy banks. I closed all of my Wells Fargo Bank NA products down. Thinking of sending Chase south. Next BofA and eugene66 likes Citi so maybe I will hold as he has had good luck and maybe I will too. As an aside (theatre talk) Chase is trying to loose another WAMU customer??? I have been a model prisoner! Just ask me!

Sorry to hear that Wanderer! Well i hope this cheer ya up, "They didn't take much"! But it would have me bitting my nails off because I would think they would be coming back for more. I wonder if this is a warning!

WOW, was I surprised when I paid my Chase Visa Flexible Rewards personal account online and found that Chase had lowered my credit line from $13,500 to $10,000 and cash line from $2,700 to $2,000. The interest rate remained the same at the now elite level of 12.24% purchases and 19.24% cash. Actually I was shocked!!! As a left over from WAMU and over one year of experience with Chase pif'ing all but two months where I did pay off $2,XXX plus (good experience in my mind) this came as a shock! GADS! The credit restructuring just keeps on coming. I reviewed my three bureau credit report and it is clean except for the number of inquiries related to my moving (moving generated a few).

Yikes. I am surprised that they did this so soon after Card Act. They reduced my cash limit at some point in 2009 and I maintain that I NEVER received notice of this. They also recently increased my APR from 7.99% fixed to 14.24% variable. Again, I do not recall getting notified of this.

But preach it Wanderer, credit unions, credit unions!

WOW, was I surprised when I paid my Chase Visa Flexible Rewards personal account online and found that Chase had lowered my credit line from $13,500 to $10,000 and cash line from $2,700 to $2,000. The interest rate remained the same at the now elite level of 12.24% purchases and 19.24% cash. Actually I was shocked!!! As a left over from WAMU and over one year of experience with Chase pif'ing all but two months where I did pay off $2,XXX plus (good experience in my mind) this came as a shock! GADS! The credit restructuring just keeps on coming. I reviewed my three bureau credit report and it is clean except for the number of inquiries related to my moving (moving generated a few). :white-flag:Called into customer service for an answer to the CL reduction... they informed me a letter was sent (after discussing it she said four days ago). Reasoning was lack of profitable use, market conditions, I did not utilize the capacity of the credit line and a review of the credit bureau which I know they did on March 16, 2010 (saw there account informational request). You have to wonder... keep your utilization low, pay your bills on time, and don't have anybody else's credit card reporting so the bank has you by the neck... hmm... NOT bitter. Asked if they wanted me to close the account? No but, you could call in for a credit line increase request in two to four day. Say what...? This whole thing with the big boy banks is BS! Yes, credit unions and local/regional banks generally won't do this.

Bofa is no joke bro! I would rather take my chances with US Bank

I hear ya!

Young Man, Meya, I appreciate it. When I was talking to the specialist at the bank, he told me that if I were to come in and apply for a loan that my past history with carrying so much credit and managing it so well would not even be considered, just that your current with your cards and your credit report is decent. Not looking to toot my own horn just take into account how I have managed credit in the past/present when it was awarded to me thru the bank.

Bofa is no joke bro! I would rather take my chances with US Bank!

Sorry to hear that smcc. No one is safe. BoA is going to eventually reduce everyone's limit regardless of their account history or credit scores.