Disney Chase Visa Card Credit Line reduction

[RescueEn]

Curious if any other Disney Chase Visa Card holders through Chase Bank recently experienced an unannounced credit line reduction.

As I went to book my Disney vacation for Late Sept into Oct I gave the agent my Disney Visa card number, only to find out it was declined. I knew I had $3500 worth of credit that should secure a one night reservation.

After securing the reservation with another card I called Disney Visa to find out that Chase had cut my credit line by $3000 with no notification. I was told I have to wait and call Monday morning.

Luckily I have other cards, but very disheartening to be shot down by Disney Visa while trying to book a Disney vacation.

 

[lovetoscrap]

Moving to the Budget Board.

 

[HsvTeacher]

Curious if any other Disney Chase Visa Card holders through Chase Bank recently experienced an unannounced credit line reduction.

As I went to book my Disney vacation for Late Sept into Oct I gave the agent my Disney Visa card number, only to find out it was declined. I knew I had $3500 worth of credit that should secure a one night reservation.

After securing the reservation with another card I called Disney Visa to find out that Chase had cut my credit line by $3000 with no notification. I was told I have to wait and call Monday morning.

Luckily I have other cards, but very disheartening to be shot down by Disney Visa while trying to book a Disney vacation.

We don't have Chase accounts any more, but they are famous (or infamous!) for doing this.

 

[espana94]

We don't have Chase accounts any more, but they are famous (or infamous!) for doing this.

As is Citibank, which is why we don't use cards from either company anymore!

 

[dzorn]

Ours has not changed ever except when I called to increase it.

Denise in MI

 

[DisneyEater]

I'm pretty sure they have to send you a letter letting you know that they reduced your line. If my memory serves me correctly (I used to work in credit cards), they have to notify you something like 45 days before they lower your line. You may have just missed the letter as it is often sent in an unmarked envelope. It is highly unlikely it was unannounced.

They can lower it at their discretion and don't need a reason to do so.

 

[DOREEN1779]

I'm pretty sure they have to send you a letter letting you know that they reduced your line. If my memory serves me correctly (I used to work in credit cards), they have to notify you something like 45 days before they lower your line. You may have just missed the letter as it is often sent in an unmarked envelope. It is highly unlikely it was unannounced.

They can lower it at their discretion and don't need a reason to do so.

I had not used my Target Red card for a bit and they reduced my credit line without notice. Same thing occurred 2 months ago wih Old Navy Visa, no notice. I open all the mail and read everything. My credit score took a five point hit.

 

[FarmDisney]

We had this exact thing happen to us several years ago. We purchased a new computer, and we did not know that our credit limit had been reduced. Chase let the purchase go through and then dinged us with an overlimit fee. I was fuming! A call to customer service was useless - they refused to reverse the fee.

We did not receive a letter informing us of the change either. I can't believe they can get away with this.

 

[LVTiffy]

Chase never did this to me..however, wellsfargo did once. I signed up for a checking and a credit card on my 18th bday in 2002. My limit was $500 for the cc. Over the years, they raised the limits nurmous times without permission. which was fine. My limit was then $4000. I always charged on it and paid it off in a month or 2. Two years ago, I looked on my wellsfargo account and it said the account was closed. I went into the branch and they said it was closed cuz they didnt have the correct apt number for me. I told them I alwasy receive the bill at my apt and that they have my correct phone number. He then called customer service and they told them they cannot reinstate the card and that i could reapply again but that i could be denied or it could be only for a couple hundred dollars. I checked my credit report/score and my score dropped 60 points (was 720) because of the average length of credit. I was furious! I still have not been able to get it up over 660 in 2 years. On my credit report, it says my card was closed due to "inactivity." wow, so I then canceled my checking account, took my money out of it, and signed up with chase checking.

 

[RescueEn]

I talked with Chase today and they said that during a random review of the account they felt the need to reduce the credit limit (without notice) from $7000 to $4000. I own my own home valued at $420K with no mortgage on it, and use to have a credit limit with Chase in the past of $20K that I paid off and cancelled the card. Only started doing business with Chase again because of the Disney card. Very unhappy with their service.

 

[RescueEn]

As is Citibank, which is why we don't use cards from either company anymore!

Citibank actually gave me a quick $3000 credit line increase being a customer since 1994

 

[bumbershoot]

Citibank actually gave me a quick $3000 credit line increase being a customer since 1994

And that is great for you, but they have done to others exactly what Chase did to you. Any of them can do these things to anyone, for their own purposes and reasons.

Glad you had another card to put it on! Not everyone would have been in such a position!

 

[DOREEN1779]

Chase never did this to me..however, wellsfargo did once. I signed up for a checking and a credit card on my 18th bday in 2002. My limit was $500 for the cc. Over the years, they raised the limits nurmous times without permission. which was fine. My limit was then $4000. I always charged on it and paid it off in a month or 2. Two years ago, I looked on my wellsfargo account and it said the account was closed. I went into the branch and they said it was closed cuz they didnt have the correct apt number for me. I told them I alwasy receive the bill at my apt and that they have my correct phone number. He then called customer service and they told them they cannot reinstate the card and that i could reapply again but that i could be denied or it could be only for a couple hundred dollars. I checked my credit report/score and my score dropped 60 points (was 720) because of the average length of credit. I was furious! I still have not been able to get it up over 660 in 2 years. On my credit report, it says my card was closed due to "inactivity." wow, so I then canceled my checking account, took my money out of it, and signed up with chase checking.

60 points! Yikes, and to think I was complaining about 6. I still had a large line of credit so it did not hurt the credit rating like it did yours. I was angry over them just lowering it.

 

[RescueEn]

Well I unleashed my Wife onto Chase Bank and after her tirade Chase reinstated our previous credit limit, pays to marry a pit bull LOL. My 2 phone calls to Chase customer service apparently didn't have the same impact. I love my wife LOL!!!

 

[meg8017]

I had them cancel my card without notice. I had misplaced my Disney Visa and had called to get a new one as we were buying a computer and wanted the points. They sent a new card. We went to use it 3 weeks later and it was declined in the store. How embarassing. When I called them when I got home to find out why it was declined they informed me they cancelled it for not using it. I said but I had misplaced it (in the house, not lost) and just had a new one sent to me 3 weeks ago. Well apparently I needed to use it sooner than that. I had been a cardholder since day one. Was really miffed they did that. If they were close to cancelling, they could have informed me when I had called. (and I never received a letter prior that it was being cancelled. I received it about a month later ).

 

[MScott1851]

No, I actually have three cards with Chase, a Slate, a Disney Premier, and a SWA Rapid Rewards. I have only had increases, but I think it's because I've never paid them a single penny in interest. They're trying to entice me to use the card & carry a balance.

 

[stsomewhere]

Citi dropped my limit from $25,00 to $12,000 last year.

 

[NCRedding]

I'm pretty sure they have to send you a letter letting you know that they reduced your line. If my memory serves me correctly (I used to work in credit cards), they have to notify you something like 45 days before they lower your line. You may have just missed the letter as it is often sent in an unmarked envelope. It is highly unlikely it was unannounced.

They can lower it at their discretion and don't need a reason to do so.

No time notice required under any of my Chase agreements. Chase is NOTORIOUS for lowering the credit limt, then sending you the letter. It just happened to us while we were at Disney in May. I was planning on using my Disney Visa for our incidentals. Placed it on record. I wondered why I never got a receipt at check out, so I called and the desk said one would be emailed to me at home. Never got one, then I discovered that Chase had lowered my available credit from $10,000 to $100.00 on the 2nd day of my vacation. I didn't receive the letter notifying me of this until 10 days after we returned from vacation. Chase has done it repeatedly to my husband and I since 2008. They have done more harm to our credit rating than anything we have done. It angers me the most that they cut my ratio from 30% balance to 98% balance to limit, then use their actions to justify cutting the limit on another Chase card, which creates another ding on my credit. I didn't charge up the percentage; they changed it to my detriment.

 

[hollypoast]

This happened to us too. I primarily us our Disney visa for vacations. In July we were on vacation and I went to use the card and then got an email saying I was within $500 of or credit limit. (an alert I set up myself on their website)

It was really inconvenient because when we travel I only take one cc for all expenses. Thank goodness my husband had his debit card or I don't know what I would have done.

About two weeks after returning home I received the letter informing us of the change. I will make my last payment to zero out our account At the end of the week and then plan to cancel the card. I don't need the points that badly.

 

[donalduck]

DON'T USE CREDIT CARDS THERES A NEAT IDEA FOR YA.