Planning to close my CSP

For just about anything you want to get off your chest about credit cards.
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MemberSince99
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Postby MemberSince99 » Sat Jan 18, 2014 6:01 pm

You know that was a great movie.


MemberSince99
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Postby MemberSince99 » Sun Jan 19, 2014 8:42 am

By the way, the Citi card has now reported, and the Freedom will soon. I realize that Barclay's may, and I mean MAY because it's always YMMV, not like that.


My feeling is, that's their prerogative. It's business and a free market system (at least in theory) and thus they are free to do as they wish, as am I. And they should do whatever they feel they need to that is in their own interests, as I will do. That's just how that goes. So I'm not going to sit around and worry what some lender may or may not do. Would I like them to close the account? Nope but it's their right to do so, just as it's my right to close at any time for any reason or no reason at all as well. That's just how it is, even if some of the loonier members here don't like that.


So I'm not going to worry about what any lender thinks or does. Naturally I'm not going to go more nuts on things but it's certainly my right to apply for and open cards and close them as I see fit.


The thing is I'm in a position to do that - if that was my only "prime" card and I had a thin file and was just starting to get past Cap One and had to recon to get that card, yeah, I'd want to tread very lightly for a while so as not to spook them. But now I feel like I don't have to play that game - if they feel they need to close then by all means do it. I'll just move on to another lender. Not saying I'd LIKE it, and it would suck to lose the miles I have built with them (I have the bonus in the account already that's 400 bucks) but I have to support their right to run their business as they see fit to just as they have to accept my right to run my life as I see fit. So I'm not going to worry about it.


And thinking about if Amex requested a 4506-T, in other words FR, I'm not sure whether I would comply or not. I would have NO problem proving the income I told them I make, that's understandable. That I would do. I'm not sure however that a credit card is really equal to a mortgage and that they should get a 4506-T for a credit card. It's far too invasive in my opinion for a credit card. So I haven't decided if I would comply or just close the account and move on. I'd have to think about that one.

BirthdayBoy
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Postby BirthdayBoy » Sun Jan 19, 2014 4:08 pm

Dang, I was hoping this would turn out to be a Chase hate fest, but the second paragraph of the first post crushed my hopes.

I'm finding Chase to be an incredibly stingy lender for me, despite having a prior 8 year banking relationship, and would wholeheartedly back this thread turning into a Chase hate fest.

Member, I think you're slipping... First you're unironically using the phrase "gardening" in reference to your own credit acquisition habits, now you're posting not-hatefests... It's like I don't even know you anymore (actually, I never knew you to begin with, but that's besides the point). What happened man? You used to be my hero...
Ficos:
Ex- 705 AMEX pull (5/13), Tu: 753, Eq:685

Cards:
First Premier Pimpcard 0.7k (01/10), Capital Bank (secured) 1.0k (02/11), Amex Delta 2.0k (5/13), Chase Freedom 1.5k (5/13), Discover It 5.0k (5/13), Capital One Cash Rewards 2.5k (5/13), DCU Platinum Visa 7k (12/13), Barclaycard Arrival World Mastercard 5.0k (01/14)

MemberSince99
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Location: WI

Postby MemberSince99 » Sun Jan 19, 2014 4:21 pm

If I'm your hero (or was) I don't know who to feel more sorry for - you or me!


The gardening is just humor, though seriously I do want to buy a house and now would be a good time to not app for a while but I wouldn't seriously call it gardening because the term just makes my skin crawl from FICO. If some just outstanding card came along, I'd go for it, but otherwise, right now I want to hold back for a while to be in the best shape possible for the ordeal of a mortgage.


As far as Chase, yeah I was more than a little annoyed at taking two hard pulls only to be declined for a CLI on the CSP after putting some really nice spend through it. But in my mind they redeemed themselves with the Freedom. On the one hand I can't blame them but man does it hurt to take two hits for nothing whatsoever.


Have you asked them for a CLI? I mean if not you should be eligible for one. Another strategy might be to app for another card then move the line too. From what I see it's your lowest limit "prime" card. If you could use the CSP maybe app for that, checking their online pre-qualify site. You might be surprised.


If you take the hit for a card or CLI and are declined, I would recon, all the way to the EO if necessary, citing the banking relationship, how it's your lowest limit card and how you want to give them more business but need a limit that fits your needs and so on. If they still stiff you, by all means, come on back and we can bash them for it. It might be worth it to at least give it the old college try first though - they aren't known for auto luv it does happen but they really aren't known for it.

BirthdayBoy
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Postby BirthdayBoy » Sun Jan 19, 2014 6:39 pm

Heheheh, the limit in my sig IS the limit after getting a CLI today. Before that it was $500. I asked for $5000 and was declined, called recon and got $1500.

To be fair, I suppose they did triple my limit and $5k would be a little excessive at ten times my previous limit.. I'm just annoyed because other creditors have not only treated me far better, but (probably) haven't given me as high of limits as they would have if Chase weren't dragging my average limit amount down.
Ficos:

Ex- 705 AMEX pull (5/13), Tu: 753, Eq:685



Cards:

First Premier Pimpcard 0.7k (01/10), Capital Bank (secured) 1.0k (02/11), Amex Delta 2.0k (5/13), Chase Freedom 1.5k (5/13), Discover It 5.0k (5/13), Capital One Cash Rewards 2.5k (5/13), DCU Platinum Visa 7k (12/13), Barclaycard Arrival World Mastercard 5.0k (01/14)

MemberSince99
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Jan 19, 2014 6:56 pm

The 500 limit you had means they just barely approved you. Given you've banked with them for many years, I have to admit it really sounds like they are indifferent to your business. I would push this to the executive office and see if they do anything for you. If not, well then I can really see what you are complaining about.


On the other hand a 5k limit from Discover is pretty high for them to give. You are obviously doing something they like.


With lenders what I've found is, some are going to love you and give you the world, some will take your money but really don't care one way or the other if you do business with them, and some wouldn't pee on you if you were on fire let alone approve you. That can change over time, but that's how it seems to go and there just is no overall way to determine this until the rubber hits the road that I've ever figured out. Chase seems to be in the middle category with you. But Discover seems to be one of the ones that love you. My philosophy has become I tend to give the business to those who like me, and the swipes to those I'm working on, or happiest with, just as the ones that like me most give me CLIs and take care of me. It's a two way street. And if Chase isn't working out for you (and it sounds like it isn't) you may want to let the EO know about it and see what they do. If nothing, move on to someone who will treat you better. You can't make them like you and treat you well, but you can sure go to their competitors if they don't.

BirthdayBoy
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Joined: Mon May 27, 2013 4:16 pm
Location: Monterey, CA

Postby BirthdayBoy » Sun Jan 19, 2014 7:37 pm

That's why you're my hero.

Over on the FICO forums, everybody advocates approaching creditors with hat in hand like some sort of pauper begging for their spare change. Your attitude is that you're the customer, and if you're not treated well, you'll take your custom elsewhere. Adopting that attitude for myself has worked wonders for me (except apparently with Chase).

Discover has treated me really well so far. Initially I had a $1500 limit, but a few weeks ago I called in and asked for a CLI to $5000. A few pretty reasonable questions later I had my CLI.

Amex declined me for a CLI at the same time, but it looks like they used an older soft pull from the single worst week my credit report has ever had. That is, a baby arrived earlier than expected, and utilization temporarily skyrocketed, it's since come down to 30%. I'll not hold it against them unless I get declined next time.

As for Chase, yeah I'll try to find the EO contact info and hit them up. If not, I'll give Chase 6 mos to get me to 5k before I pull the plug and take my business elsewhere. It's a shame, because I would be in the market for a balance transfer card sooner or later, but I can't take a chance apping for Slate when their limits are so laughable.

Let me know how you like that Citi Dividend. It seems like it might make for a decent replacement for my Freedom card.
Ficos:

Ex- 705 AMEX pull (5/13), Tu: 753, Eq:685



Cards:

First Premier Pimpcard 0.7k (01/10), Capital Bank (secured) 1.0k (02/11), Amex Delta 2.0k (5/13), Chase Freedom 1.5k (5/13), Discover It 5.0k (5/13), Capital One Cash Rewards 2.5k (5/13), DCU Platinum Visa 7k (12/13), Barclaycard Arrival World Mastercard 5.0k (01/14)



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