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Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
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Re: Very difficult Amazon Chase CLI

[ Edited ]

crazee85 wrote:

Thanks a lot everybody for all the helpful info.. Even I am thinking of starting to let a balance report, if I spend high in a particular month, and then pay it in full once the statement is out..


It only hurts your score for a short amount of time until its updated with a zero balance... and it lets the lenders who look at that info know that you have some serious spending power to make such large payments and that you actually use your existing lines to their full potential without abusing them by carrying a balance.

 

By the way, Amazon Visa has different card designs that you can request... I got the black one but there is also blue and lime green which is cool.

 

https://www.chase.com/online/Credit-Cards/amazon.htm


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
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Re: Very difficult Amazon Chase CLI

[ Edited ]

I think there is a confusion between reporting a high balance each cycle, and total spent on the card each month.

 

It is fine if you want it to report a high balance for 1 month or few, but your utilization will drop for that month and your fico score will drop for that month. However, if you are not applying for any new cards during that period, then it wouldn't matter.

 

Alternatively, what Chase seems to be concerned about is how much money is being spent on that card on average each month. You can spend 2000 on a 2000 CL card, and pay in full and report 0 balance, and that is still totally fine with them. What Chase was initially saying was that you do NOT need a CLI if you are only using say 300-500 each month on a 2000 CL card.

 

When you apply for a CLI, each of your Chase statements does list charges and payments made in total for each billing cycle. If your spending and/or payments is almost as high as your CL, they'll feel a lot more inclined to raise it. If your spending is way below the CL, the only logic behind raising the CL is purely to pad the customer's credit score by lowering utilization, so they might feel that such increase is unwarranted.


This is my guess.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
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crazee85
Posts: 14
Registered: ‎03-09-2013
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Re: Very difficult Amazon Chase CLI


enharu wrote:

I think there is a confusion between reporting a high balance each cycle, and total spent on the card each month.

 

It is fine if you want it to report a high balance for 1 month or few, but your utilization will drop for that month and your fico score will drop for that month. However, if you are not applying for any new cards during that period, then it wouldn't matter.

 

Alternatively, what Chase seems to be concerned about is how much money is being spent on that card on average each month. You can spend 2000 on a 2000 CL card, and pay in full and report 0 balance, and that is still totally fine with them. What Chase was initially saying was that you do NOT need a CLI if you are only using say 300-500 each month on a 2000 CL card.

 

When you apply for a CLI, each of your Chase statements does list charges and payments made in total for each billing cycle. If your spending and/or payments is almost as high as your CL, they'll feel a lot more inclined to raise it. If your spending is way below the CL, the only logic behind raising the CL is purely to pad the customer's credit score by lowering utilization, so they might feel that such increase is unwarranted.


This is my guess.


But the Chase guy was just reading out my high balances reported for all my credit cards on Transunion report and was not looking at Chase statements to see actual charges and payments at all.. And anyways, if I had not gotten my case escalated, they had automatically given me a CLI of just $500 based just on my credit report (even if everything on my credit report is clean).. So I really doubt they look at individual charges and payments, but I may be wrong.. And I am sure that not every bank follows this thought process..

Credit Scores: TU Credit Karma - 778 - 3/9/13 | EX Credit Sesame - 801 - 3/9/13
Credit Cards: Amex BCE - $12k - 3/9/13 | Discover It - $6.5k - 3/9/13 | Amazon Chase - $4.5k - 3/9/13 | Citi Forward - $3k - 4/1/11 | BoA - $2.5k - 7/1/11
Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
0

Re: Very difficult Amazon Chase CLI

[ Edited ]

he might be looking at your TU report because that is what he has in front of him right now. He looks at hundreds if not thousands of reports each month and no one could be bothered enough to go through your entire statement or balance history. So you have to tell him where to look. If he was using it as his argument, correct him and have him look at your statement spendings. Just because you pay multiple times a month shouldn't be something that he overlook. He has access to your statements and can see them if he wants to. And of course, he isn't going to increase the CL just because you make and spend a lot on the card. Other factors come into play. However, assuming this is the only hurdle that is stopping u from getting the CLI, then you can explain to him that you obviously have way more use for the card than what he thinks as evident in your statements.

 

High balances on CRs work for some people. High balances sometimes spooks off the bank and things go south as opposed to what was originally intended. If you have a high income then the bank probably wouldn't be too worried either even if you report a high balance from time to time.

 

 

 

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
New Member
crazee85
Posts: 14
Registered: ‎03-09-2013
0

Re: Very difficult Amazon Chase CLI

[ Edited ]

enharu wrote:

he might be looking at your TU report because that is what he has in front of him right now. He looks at hundreds if not thousands of reports each month and no one could be bothered enough to go through your entire statement or balance history. So you have to tell him where to look. If he was using it as his argument, correct him and have him look at your statement spendings. Just because you pay multiple times a month shouldn't be something that he overlook. He has access to your statements and can see them if he wants to. And of course, he isn't going to increase the CL just because you make and spend a lot on the card. Other factors come into play. However, assuming this is the only hurdle that is stopping u from getting the CLI, then you can explain to him that you obviously have way more use for the card than what he thinks as evident in your statements.

 

High balances on CRs work for some people. High balances sometimes spooks off the bank and things go south as opposed to what was originally intended. If you have a high income then the bank probably wouldn't be too worried either even if you report a high balance from time to time.

 


And that is exactly what I had to do.. After a lot of explaining that I often pay off my high amount purchases, etc and those amounts don't show on my report, he finally did agree to raise my CLI reasonably!

 

EDIT: But it is still a pain to explain all this to them, even more so when you know that you have already wasted a hard pull on it.. I for sure am not going to try for another CLI on this card ever again! If they do any automatic CLI, good for them; otherwise going to stop using this card in future when it stops meeting my needs..

Credit Scores: TU Credit Karma - 778 - 3/9/13 | EX Credit Sesame - 801 - 3/9/13
Credit Cards: Amex BCE - $12k - 3/9/13 | Discover It - $6.5k - 3/9/13 | Amazon Chase - $4.5k - 3/9/13 | Citi Forward - $3k - 4/1/11 | BoA - $2.5k - 7/1/11
Super Contributor
enharu
Posts: 7,002
Registered: ‎02-27-2013
0

Re: Very difficult Amazon Chase CLI

You have really high credit scores and amex gave you a very high CL. I think any bank will be crazy to turn you down because you can easily take your business anywhere. :smileytongue: 

 

I think you deserve more than just 4.5k. They're no willing to budge anymore on that amount?

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
New Member
crazee85
Posts: 14
Registered: ‎03-09-2013
0

Re: Very difficult Amazon Chase CLI


enharu wrote:

You have really high credit scores and amex gave you a very high CL. I think any bank will be crazy to turn you down because you can easily take your business anywhere. :smileytongue: 

 

I think you deserve more than just 4.5k. They're no willing to budge anymore on that amount?


The thing is my first call went to amazon chase today (bad move on my part).. Both amex and discover CL increased after that using online soft pulls (they were $4k and $4.5k before).. So $4.5k was all he gave me and I happily took it after so much back and forth with him..

 

I checked my credit scores also today for the first time after all these CLIs.. Had I known them before, I would have been more confident in talking to him.. :smileytongue:

 

Thanks for your compliment :smileyhappy:

Credit Scores: TU Credit Karma - 778 - 3/9/13 | EX Credit Sesame - 801 - 3/9/13
Credit Cards: Amex BCE - $12k - 3/9/13 | Discover It - $6.5k - 3/9/13 | Amazon Chase - $4.5k - 3/9/13 | Citi Forward - $3k - 4/1/11 | BoA - $2.5k - 7/1/11

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