In the midst of all the news about Chase cutting credit limits on some of their credit card accounts, I wanted to mention that this month, for no reason at all, Chase increased the credit limit on my Freedom card from $6500 to $9500 (almost a 50% increase). My credit score is excellent, and I use this card for everything (racking up about $2-3K in charges a month, and paying off in full every month). That probably explains the move. From what I have heard, the latest trends seem to be creating a bigger divide between those who have good credit and those who don't. So if you have a low FICO, Chase cuts your limit, if you have a high FICO, they raise it. The only thing I don't get is, since I PIF every month and earn $250 in rewards every 6 months, why would they even want me as a customer? They are losing money on me as it is!
Chase increased my credit limit!
April 1st, 2009 at 08:25 am