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Report: #1497631

Complaint Review: Chase Bank - Laguna Beach California

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  • Reported By: John Nicolazzo — Laguna Beach California United States
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  • Chase Bank 310 broadway street Laguna Beach, California United States

Chase Bank Chase, Chase Banks, Chase Accounting Chase Bank advised me to pay off my credit cards and then reduced all my limits. Laguna Beach California

*Consumer Comment: Twisted Logic

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I have never in my life worked with such a horrible bank before.  Chase bank in laguna beach is doing nothing but harming their clients, let me explain.  I spent alot of time working to improve my credit over the years and Chase was one of the only banks that got me a decent credit limit.  To make a long story short, I had a credit card with a 5500 credit limit.

I wanted to pay it off but I wasnt sure if that would  be in my bennefit or not, so i called Chase Bank.  After beign on hold for nearly 30 minutes someone finally helped me.  I explained what I'm trying to do and the bank advisor said if I wanted to increase my limit, that I shold pay off all my cards and then request it, simple right?  So i did just that, I paod off over 10 k in chase debt from Chase Bank .

I then called Chase Bank back a few days later becasue i noticed all of my limits were down.  Instead of now having a 5k limit it was now reduced to $500 limit.  When i called Chase bank back they appologized for missleading me and explained how Chase Bank does credit reviews anytime someoe pays off their card.  To top it all off, Chase Bank would not increase my limit, as a matter f ofact I actaully decided I'm going to cancel all my Chase Credit Card and move over to another bank. 

Chase Bank is a fraus, they do no good, they lie to their cusotmers and force them into corners like anyone would working at Chase Bank.  I hope if anyone is reading this CHase Bank review that they stop, and go to another bank! trust me on this, these guys at Chase Bank are horrible

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#1 Consumer Comment

Twisted Logic

AUTHOR: Robert - (United States)

POSTED: Wednesday, July 15, 2020

They are horrible for advising you to pay off your cards. How dare they tell you to pay off 10K in debt, and no longer pay them interest on that amount. They should have told you to only pay the mninimum every month so you pay them the maximum amount of interest. That is some twisted logic.

I really wonder how you were able to pay off over 10K in debt, when you only had a credit limit of $5500. Why would you need an increase if you were able to pay off the debt? You seem to like to go into debt when you don't actually need to. Perhaps this is part of the problem.

When a company gives you a limit they are allowing you to borrow up to a certain limit of THEIR money. As such they have a right to change that limit at any time and for any reason. You have no guarantee that had you not paid it off that you would have received a credit increase. The only reason you may have had a credit limit that high is because you had a balance. Had you paid it off slowly, over time they likely could have continued to lower your limit as your balance decreased. All of this is very typical with EVERY bank.

This isn't a RipOff, this is what you agreed to when you opened the card. But if you can get a better Credit Card somewhere else, then go ahead and apply for it.

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