Credit card rant

[JDgreen227]

Guys, I have had a credit card from Chase for at least 15 years now and my credit record with them is impeccable as it my credit rating (800+) but they are really beginning to tick me off. Unlike my wife who charges everything on her cards, I have only two credit cards and basically only use the Chase one, most of my purchases are $50-150 at most. Problem is, when I want to charge a big-ticket item like a plasma tv or a computer they want me to contact them first at the toll-free number and let them know I am making a charge of over $500 (which is what they told me two years ago) and it's really beginning to irritate the h*ll out of me. I might make a charge of over $500 once or twice a year but I might need to make one in an emergency situation like a car repair and it is a PIB having to call and let Chase know I want to exceed their $500 limit.

Called them this morning and told them quote: "My wife can charge $3000 on her card any time she wants and never needs to call you for authorization but you limit me to $500 for what reason?" They told me well if you want to make a charge that is out of the ordinary for you we will put a hold on the charge until you call us. What utter BS !!! My credit limit is twenty grand and I have never used even a tenth of that at one time. I told them this morning if you put a hold on any charge I make under my credit limit for ANY REASON AT ALL from now on I am going to cancel my card and go elsewhere. They say well this is for your protection I told them BULLS*** it's for your protection because you say my liability in case of fraudulent use of my card is $50 and then I hung up on them.

Any comments? Thanks.

 

[brin]

It's for your protection like they said...but since you only have a $20K credit line that probably limits you quite a bit with such a small line of credit and such small purchases throughout the year...

 

[JDgreen227]

It's for your protection like they said...but since you only have a $20K credit line that probably limits you quite a bit with such a small line of credit and such small purchases throughout the year...

Brin...how does it limit me? My reasoning is they should be grateful I charge so little because that limits their liability unlike what they would be liable for should someone like my wife have somebody run up several $3000 bogus charges on her card and they wouldn't even notice it. Makes no sense to me. For what it is worth in the past I have made charges over $500 in places 1500 miles away that were out of the normal for me (jewelry etc) and they never made any holds or follow ups on those charges.

 

[Mousefield]

I would talk to a supervisor or manager and tell them occasionally you will be making purchases over $500. and that you want your safety limit raised to say $2,000. Over the years almost everything has substantially increased in price so it seems reasonable to raise the phone call $ limit.

 

[MoKelly]

I don't understand that at all. $500 is quite small for them to expect you to call to pre-authorize a transaction.

But, don't think you are doing them a favor by charging little. They make their money first by people not paying off the balance and collecting unbelievable high interest. Second they make money by getting a percent of every sale. Those who charge little and pay off the balance each month in full are not the type of customers they want. In fact, they may be trying to get you to switch banks as they feel your business doesn't cover their costs to process the transactions. It is possible.

MoKelly

 

[timster2]

I have have several cards with Chase and never heard of this requirement. I order stuff online from all over the world and never had them refuse or require me to call them before I use the card. Many purchases in excess of a thousand dollars without any problems. They do ask that you call them when you are going out of your immediate area that you routinely use the card such as going on vacation so that they don't stop the card for suspected fraud alert. I think I would talk to a manager and get it straightened out. That is one of the problems with call centers when you want a problem fixed, they are usually reading from a prepared script and don't have the authority to say anything different then they are told to say.

 

[Baby Grand]

Sir, you are what the credit card companies call a "deadbeat".
Please don't take offense - it just means that you are a responsible user of their plastic, and they can not abide that sort of behavior.
Small, infrequent purchases and a bill paid in full every month is enough to make a serious credit man weep.
It's almost impossible to make any fee money off a deadbeat, so they are hoping you cancel your account so they can focus their time on separating those more leveraged from their income.

 

[brin]

Brin...how does it limit me? My reasoning is they should be grateful I charge so little because that limits their liability unlike what they would be liable for should someone like my wife have somebody run up several $3000 bogus charges on her card and they wouldn't even notice it. Makes no sense to me. For what it is worth in the past I have made charges over $500 in places 1500 miles away that were out of the normal for me (jewelry etc) and they never made any holds or follow ups on those charges.

Mokelly in his post covered what I was saying...these credit card companies due to the new regulations imposed on them have gotten real picky on who they keep...they love your wife ...she uses the heck out of her card and they make money....You....they don't like so much...they would rather you just go away...you probably pay off your charges every month like I do...they don't care for us...LOL

 

[zzvyb6]

So use your wife's credit card to make your purchases and quit complaining. If your identity gets stolen and the thieves try to charge their classic $999 purchase, you'll be happy they made you call first. Oh I know, nobody's gonna steal your I.D. Yes, they will cover the theft, but you'll eventually pay for it via yearly charges etc.

Why don't you just write a check for these rare purchases? Jeez....

 

[MoKelly]

So use your wife's credit card to make your purchases and quit complaining. If your identity gets stolen and the thieves try to charge their classic $999 purchase, you'll be happy they made you call first. Oh I know, nobody's gonna steal your I.D. Yes, they will cover the theft, but you'll eventually pay for it via yearly charges etc.

Why don't you just write a check for these rare purchases? Jeez....

Wow. A fellow Michiganer giving you the business. Is there no loyalty anymore?:laughing:

MoKelly