Fozzle Posted September 28, 2008 Report Share Posted September 28, 2008 Was checking my account online, they lowered my limit by 20%! No lates or delinqs, never overlimit. Spoke to a rep who didn't want to connect me was a supervisor, then "accidentally' disconnected me. Second rep quickly connected me to a supervisor, who explained that things were being reviewed across the board. The decrease was based on my "overall credit picture", no specifically my WaMu account. That's bogus, because my overall credit picture is pretty dang good...they're the ones going bankrupt and being sold, not me! Will be closing the Wamu/JP Morgan Chase card within a couple of months. Link to comment Share on other sites More sharing options...
debtmamma Posted September 28, 2008 Report Share Posted September 28, 2008 I had the same thing happen with citi but they upped it back up when I called them. Someone on this board explained it can happen as a result of an application spree. New credit all at once is a bad sign to them. Link to comment Share on other sites More sharing options...
lovebug5 Posted September 29, 2008 Report Share Posted September 29, 2008 How's your utilization been on your cards across the board? Link to comment Share on other sites More sharing options...
LeslieR Posted September 29, 2008 Report Share Posted September 29, 2008 Everything is still good with WAMU and me. Sorry to hear about your setback. Link to comment Share on other sites More sharing options...
swirlgirl Posted September 29, 2008 Report Share Posted September 29, 2008 I just read an article on this. It's pretty much happending across the board, at all CC companies. Positive history doesn't matter. But the article said that you may be able to get the higher limite reinstated if you call and complain. Link to comment Share on other sites More sharing options...
john101 Posted September 30, 2008 Report Share Posted September 30, 2008 Is is possiable that WMU losses big time last Friday and the banking part was bought by JP Morgan. Link to comment Share on other sites More sharing options...
Fozzle Posted September 30, 2008 Author Report Share Posted September 30, 2008 lovebug5 - utilization is good, but the rep couldn't discuss too much with me because he didn't have an actual copy of my TU in front of him. He indicated that report says credit history is too brief, but it goes back to at least 1996; so I'll check the report.It's not that big a deal, I just never had a creditor drop the line before (at least, not when I've had good credit). Also odd, because just last week, at the same time WaMu was lowering my line, HSBC and Macy's were raising! Like swirlgirl, I've read a couple of article from last week stating that companies are reviewing accounts like crazy, and lowering even based on what industry you work in or where you live. And given the "demises" of WaMu and Wachovia, and the rapidly tightening credit market, I wouldn't be surprised if my other credit cards also had their limits lowered, except they are from stronger banks. Link to comment Share on other sites More sharing options...
Dre Posted October 4, 2008 Report Share Posted October 4, 2008 WaMu lowered my CL about 4 years ago, and they haven't given me a CL increase since... I have even called multiple times to get it increase...no bueno :\...Now I'm starting to use it a lot to see what happens and with the whole Chase/WaMu.... Link to comment Share on other sites More sharing options...
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