- Report: #1528915
Complaint Review: JP Morgon Chase -
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JP Morgon Chase
United States
Web:
www.chase.com
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Business Rating:
(1)
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JP Morgon Chase Chase, Chase Bank, Chase Credit Reduced my credit limit as a reward for never missing a payment
I have had excellent credit my entire life. I am carrying a balance right now. Because I am carrying a balance, Chase decided to reduce my credit on all three cards I use with them to just slightly above my credit used. I was careful only to use a small amount of my credit to keep my credit score higher, utilizing only 30% of my credit on most cards. When they took away my credit and left me with such a low limit amount of available credit, now I am in a place where my cards are at 90% of their credit limit. This took my credit score down to the high 500s. This is my reward for always making my credit card payments on time with Chase for multiple years. I want everyone to know that my new credit union has given me a recent raise in my credit. Chase made me feel like a number, not like my years and excellent track record are worth anything. This is why I should always open accounts with a credit union instead of big banks like Chase. Credit Unions care about people. Chase doesn't care about me or my credit rating. I was going to try to buy a house, but now I have such bad credit from what Chase did, I won't be able to afford the September 2023 interest rates.
1 Updates & Rebuttals
Rick
Rhode Island,United States
Too Bad
#2Consumer Comment
Tue, September 26, 2023
Credit card companies do have the right to decrease your limit without reason, and you agreed to all of this when you signed up for the card. https://www.consumerfinance.gov/ask-cfpb/can-my-credit-card-issuer-reduce-my-credit-limit-en-74/#:~:text=Credit%20card%20companies%20generally%20can,some%20of%20your%20existing%20balance.
