quote:

Originally posted by YooperSigs:
I use the Chase Amazon card for cash back. Using and paying it off several times during the billing cycle to maintain a zero balance.
Chase takes days to process my payments.
Often refuses to take a payment with the message that I am overpaying too much.
Will tell me my payment is due when my balance is zero.
My experience with Chase is hit or miss. I will dump them if and when their connection with Amazon ceases.

My story exactly.

quote:

Originally posted by Aeteocles:
Weird.

I've used Chase for decades now, and they've always been top notch for me. Right up there with Amex.

Have you tried calling? Or was this an automatic reply?

My experience exactly and I've had them for 18 years at this point, both the credit cards and the checking and savings.

quote:

Originally posted by Blume9mm:
You pay it off weekly and they claim you don't use it enough? I suspect the reason they don't want to increase your credit is for the simple fact they aren't making any money off of you.

Nonsense! They make money off every single transaction. CC issuers absolutely love people with high usage but who pay off their balance every month

Chase/Amazon cut my limit, their reasoning was that I didn’t use it enough.

They probably don’t care that it’s a better deal for me to use the Amazon store card that’s linked to my account.

Even if you don't pay interest on their card, they still get a percentage as you use their card. But, yeah, credit card companies are often arbitrary and don't make sense with their credit limit increases.

I don’t have any Chase cards, so I can’t help there, but I use a capital one spark card for my business to the tune of 50-60k a month. They have fantastic customer service, and have always granted credit line increases. I think mine started at 20k, and is now 80. The card gets 2% back on all purchases, and there are lots of options for how to use the rewards.

quote:

Originally posted by Anush:
I got a Chase card with a $15500 limit & after a few months purchased some knives online using the card. They put the card on hold as I was "buying weapons". I paid the card within 30 days & have never used it again.

I've bought guns using my Chase card(s) and never had any problem.

quote:

Originally posted by Anush:
I got a Chase card with a $15500 limit & after a few months purchased some knives online using the card. They put the card on hold as I was "buying weapons". I paid the card within 30 days & have never used it again.


I've bought guns using my Chase card(s) and never had any problem.

Sorry for the error. I looked & it was a Citicard not Chase. I might try Chase as my USAA cards have become a pain to use. The USAA security is so restrictive I will not use the cards for travel.

Did they give you a reason? you think that they would be able to do that.

If not I would bail regardless of the 95 annual fee!

quote:

Originally posted by Ronin101:
Did they give you a reason? you think that they would be able to do that.

If not I would bail regardless of the 95 annual fee!

Yes, they said I don’t use it enough. However, I can’t use it enough because my credit limit is too low.

I do a fertilizer order just below the credit limit 5 times per year. All other business expenses go on that card as well. There have been times when I had to pay off the card and wait for the payment to post because I need gas for the truck. It’s just stupidly inconvenient.

You might want to look at the site http://www.chase-sucks.org/

quote:

Originally posted by DougBob:
You might want to look at the site http://www.chase-sucks.org/

Epic first post!

Chase does indeed suck.

Sounds like Chase is penalizing you for doing the right thing and paying off your debt.
Obviously you paying off your balance so often isn’t being recognized by them at all.
Of course, I have heard the many banks are now declining credit increases, as the banks don’t want to have that much credit hanging out there, they’re playing it safer these days, especially with the economic issues. If the economy does tank out, people won’t be able to pay off their credit balances and the banks will be stuck with it, that kind of indicates the banks know something bad is coming, around the 3rd to 4th quarter of this year.

Well this doesn’t sound promising. I just signed up for the chase ink business premier card… it’s $195 annually, which is no big deal as long as they let me purchase gun related items since I did tell them I was a gun store.

I thought it was interesting though it looks like it’s a high balance you are required to pay off every month along with a smaller balance they allow you to roll over. I pay our company card off multiple times a month so that’s no big deal, but it’s strange to me for credit card companies to require you to pay in full every month… don’t they make money off the interest? Or are they just hoping you overspend and can’t pay it off then they hit you with a bunch of fees?

I typically would never get a credit card with an annual fee, but it ranked as one of the top business credit cards on a ton of credit card ranking websites so decided what the heck… we spend plenty on the card to make it worth it so we’ll give it a shot

quote:

Originally posted by m1009:

I have heard the many banks are now declining credit increases

I just received an email from Capital One, telling me that they have given me another increase in my credit limit. I have never requested an increase from them; this is the third or maybe the fourth -- I have lost count -- unsolicited increase that they have given me on this card.

There's been discussion on LinkedIn about Amex greatly limiting the credit lines of some private businesses. One guy write how he put 100K a month with travel and equipment regularly for several years, always paid off on schedule, and now they cut them to a 20K credit limit. Other people said similar things happened to them.

Why would Amex be limiting credit with businesses like that? That's a big loss in transaction fees. Is Amex short on capital to float the balances on their side?

Have a Chase card and a USAA card that I got for out of state travel as a back up because one time the Chase card got hacked and they locked it. Chase made it right. Always had good service from Chase but I've made the USAA card primary because of the better earnback and other benefits. If you are eligible for USAA, I highly recommend.

I got turned down for the same reason (insufficient use). I wanted a credit increase to add more to the balance under an introductory zero interest rate. In the meantime, my Chase amazon card got an increase without me asking; I think because I regularly use it with some infrequent spikes like buying tv sound bars. I got a letter from AmEx saying they were going to decrease my limit because my usage was low. I called and explain I was just about to place a large amount on it on a trip overseas. They didn’t reduce it and I did make the purchase. They haven’t paid me any attention ever since.

I make sure I put something on every card I have every month to keep them active.

I don’t know how long you’ve had the card or whether you irregularly go over 50% of your limit. Never mind about the usage; I just read you go near the limit 5 times a year. I would call to speak to someone who can make a decision instead of someone who’ll pass on your request for processing. I would also explain it’s for your business and expect to be using it more. I would point out you regularly go near the limit. Paying your balance off each month shouldn’t be an issue because they still earn money when you use it. I pay off my balances each month except when I’ve used a balance transfer offer for cash flow purposes.

Was looking for a card to get better than the traditional 1% on purchases that my Amex’s don’t already have deals for (4% restaurants and 6% groceries).

Found that Wells Fargo has a card with no annual fee and 2% cash back on ANYTHING.

I can’t get Capital One to give me an increase because i don’t use the cards enough, yet Wells Fargo gave me a higher credit limit than I’ve ever had, or would ever use.

Credit Card algorithms are the craziest freeking things.

quote:

Originally posted by 9mmepiphany:

quote:

Originally posted by YooperSigs:
I use the Chase Amazon card for cash back. Using and paying it off several times during the billing cycle to maintain a zero balance.
Chase takes days to process my payments.
Often refuses to take a payment with the message that I am overpaying too much.
Will tell me my payment is due when my balance is zero.
My experience with Chase is hit or miss. I will dump them if and when their connection with Amazon ceases.

I also have a Chase Amazon card...mind as well get the points if I'm making Amazon purchases anyway

Chase usually processes my credit card payments in 1 business day...on the other hand, they are very slow in processing my mortgage payment

I guess it depends on how much you're overpaying. I always pay the outstanding balance plus any pending charges

Their "Payment Due" notice is automated and has nothing to do with the balance on your card

I've had Chase cards for years, starting with a Slate, adding a Amazon, and adding a Freedom for the zero balance transfer to get caught up after the pandemic

I haven't had any issues with the Chase Amazon card either. 1 day for payments to go through. It allows me to pay as much as I have charged plus all pending transactions. Only once did it say I couldn't pay as much as I want but the charge I was anticipating hadn't yet gone into pending. They increase my credit line all the time. Currently it's at 20K and I never have a balance. I pay as soon as I make a charge.