Approved for Hyatt, DENIED for CSP

[ama0301]

I applied and was approved for the Hyatt card. My credit line is !2k, I applied the same say for the CSP and the application said pending. I received a denial letter stating that it is due the the credit amount with Chase. I also have the Freedom card with 8.5K limit and Slate with a 500 cl. Should I call and recon on the CSP? The Freedom and Slate were approved Jan 2013. Any suggestions.

[maiden_girl]

Every lender has a ceiling amount they are willing to lend you. It sounds like you've reached it with Chase.

[navigatethis12]

In the future, if you are approved for a low limit with a lender, you've most likely reached your limit with them. You may be able to move credit from the Freedom to open the Sapphire Preferred, but other than that, you most likely won't get it.

[09Lexie]

I agree with the others. Try and see if your app can be approved if they move some of your CL.

[ama0301]

Would I call the number on the letter to request for the CL to be moved around?

[red259]

When someone reaches the limit with a lender like this is it based soley on income or over time will the while having cards with the lender will they raise the ceiling even if the income stays the same?

[09Lexie]

Call the number on the backdoor sticky

Good luck

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@red259

The CL ceiling could be based on a couple of things. Income and credit profile namely.

[enharu]

The CL threshold is dependent on many factors, mostly income and credit history. If chase has extended you quite a bit of credit just a couple weeks / months ago, chances are they might not want to issue you anymore credit for the time being as well, even if you haven't exactly hit the "real" threshold.

[CreditScholar]

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@enharu wrote:
The CL threshold is dependent on many factors, mostly income and credit history. If chase has extended you quite a bit of credit just a couple weeks / months ago, chances are they might not want to issue you anymore credit for the time being as well, even if you haven't exactly hit the "real" threshold.

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+1. You need to keep in mind that you've already opened 3 cards with Chase this year alone, so this may be a sign that you've hit their internal limit with you (for the time being at least). As your credit and income improve, their max exposure to you will increase.

The other thing to keep in mind is that Chase is much more generous with their co-branded cards. Non co-branded cards like the CSP tend to have slightly tougher approval criteria and lower starting CLs.

[BearsAndTurtlesRtheBest]

You got approved for $12k right? not $2k