So a few months (5 I think) Chase decided to have my shitty shitty credit limit yet. $ 200 down from $ 900. My original thinking was screwed and had not used the card since. I was expecting it to be closed by now, but since I have not changed my mind! I will now see whether the change in my spending habits with the card to me any chance of a CLI them.
I being charged with my first in 5 months the other day, it is my plan to use the card several times a month for small not necessary purchases and see how long it for me responsible for my reward card use takes place. I'll report back if something happens, but no one think this is about? Or is Chase too much of a series of a-holes to even care about it?
Best Answer: A few things you need to know are that Chase may have wrote the loan paperwork but after the loan closed Chase sold the loan to Freddie or Fannie and got paid a commision for generating the loan. The loan was then sold to Wall Street and then resold again to investors as a CDO.
So when you try to "modify" your loan you send it to Chase and it goes into the hands of a person working there drawing a salary and they must figure out who the loan has been sold to repeatedly; if those companies are still in business, who in those companies handles the paperwork, and how to get it to them for them to sign-off on adjusting the loan.
And when your loan is "bundled" with other loans by one company, resold to another company, REbundled again by that company, and resold again as a CDO which are chopped by in different slices it is NOT an easy quick solution for anybody. Your one loan may have been sliced up in over 6 different CDOs and each part of the loan is now having to be "modified" which affects the entire CDO and the investment group or groups that bought each part has to consider how your request affects the return on the entire CDO.
Also the person a the bank who you are dealing with has NO interest in the outcome of your case. They are getting swamped with requests that they simply are untrained for, unqualified to handle, and will not do anything to risk getting fired.
So YOUR personal situation and the fact that your income was cut 5% does NOT concern them. YOU bought the house, YOU signed the loan paperwork, YOU rented it out, and now you want them to cover the loss of equity for YOUR bad investment. Good luck.
Reply:There is a link to it at changeinterms.com – the guy who is blogging about the minimum payment increase.
Reply: Chase wants people they can gouge. Did you see the guy who is picketing outside their CA branches? Hilarious. I hope others join him. I would do it, but Chase doesn't have branches in my state.
Where did you see that? Is there a link?
That would be great to see!!!
Reply:Chase wants people they can gouge. Did you see the guy who is picketing outside their CA branches? Hilarious. I hope others join him. I would do it, but Chase doesn't have branches in my state.
Reply: Well I'll let ya know, but I'm not that hopeful. Mostly I think Chase can go straight to hell for all I care. Their customer service seems to suck.
I sincerely hope there is a special place in hell for all of them.
Reply:Well I'll let ya know, but I'm not that hopeful. Mostly I think Chase can go straight to hell for all I care. Their customer service seems to suck.
Reply: So several months ago (5 I think) Chase decided to make my already crappy credit limit even crappier. $200 down from $900. My original thinking was screw them and hadn't used the card since. I had expected it to be closed by now but since it's not I have changed my mind! I'm going to now see if changing my spending habits with the card will give me any chance of a CLI with them.
I just charged my first thing in 5 months the other day, so my plan is to use the card several times a month for small non necessary purchases and see how long it takes for them to reward me for my responsible card use. I'll report back if anything happens, but does anyone think this will actually work? Or is Chase too much of a bunch of a-holes to even care about this?
Chase does not care in my experience.
My chase is without luv from day 1(12/2006). CL changed once when I combined 3 cards into one (even then Chase thefted $1000 of CL)
My card went from daily usage to occasional usage to one utility bill a month to one charge a month ($4.48)
But YMMV