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Just wondering, as I'm coming up on my 6 months in March, I hear they offer an increase. Just wondering what your experiences where with that increase.
Particularly those that had to recon and JUST got their foot in the door and got the toy $500 CL.
what were your scores, usage, etc?
@youngandcreditwrthy wrote:
Eh Chase isn't well with clis in general. I've had two freedoms and a slate since 07. Only one auto cli that whole time. Lol :-0
WOW! did you start with a toy limit?
I'm hoping that they will see me puting through over 1k a month on the card and help me out a bit! I get so tired of making all of these payments. I cant wait to have a card with a 2k limit. It will be the only one I use. I dont care about interest rate or rewards, I just want to ease my payments up!
I believe the general consensus is in order to get CLI's from Chase (typically) you need to request it, and it will be a HP. There's been some anecdotal SP success through the executive office but YMMV.
In your situation with a "toy limit" Freedom that I'd been using well for six months, if I didn't have a mortgage coming up in call it 12 months I'd take the HP for a potential increase. I think the possible upside outweighs a short-term penalty on a single credit report if nothing else is in the pipeline.
I was given the Freedom with a $5500 initial CL. I reconned it at the time of approval and asked for a higher limit, took another hard pull, and the CLI was declined. The reason they gave me was prior late payments on a Chase account and other accounts (I had a series of lates, some 120+, four years ago). They wanted to see how I did with that limit first.
Fast forward to last weekend. I applied for a second Chase card, the CSP. Initial CL was $29,700. I had used my Chase Freedom modestly, running about $7000 total through it. I carried a pretty high balance for a while taking advantage of the 0% promo APR. I had paid it off completely before applying for the CSP. There was about 8 months between applying for Freedom and CSP.
So I know there are some differences as you're asking about initial CLs of $500, but at least in my experience, after seeing me handle the first card responsibly for a fairly short time period, they gave me a much better CL on a second card. Perhaps other people can comment on whether or not they've had similar experiences. It might be better to just apply for a second card, especially if you're going to take a hard pull anywyay.
@jc.
i got my freedom back in july apped over the phone and only got a 500 limit due to no other non store cards. aaoa at the time was about a year and a half.
basically maxed it out and pif every month i had it except for maybe one month.(not maxing out)
they auto cli from 500 to 1k after my 5th statement.
i charged about 800 on it and pif maybe another auto cli.... lol
but since then i have gotten another 2k card and a 5k card also a zync. so anythings possible.
after all my inquries age over a year im thinking about asking for a real cli but i dont think i will.
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
@creditnocash wrote:@Anonymous.
i got my freedom back in july apped over the phone and only got a 500 limit due to no other non store cards. aaoa at the time was about a year and a half.
basically maxed it out and pif every month i had it except for maybe one month.(not maxing out)
they auto cli from 500 to 1k after my 5th statement.
i charged about 800 on it and pif maybe another auto cli.... lol
but since then i have gotten another 2k card and a 5k card also a zync. so anythings possible.
after all my inquries age over a year im thinking about asking for a real cli but i dont think i will.
thats great news, congrats. I was hoping after seeing my usage and how I handle the account they would boost it a bit. I also switched my checking account and they have my DD of 3k/month going in. So with all of that I would hope they increase me.
I still need to have someone from citizens SP me for a pre approval. Might be paying some CC's ahead of statement date for optimal chances. hah
Well... One started with a $400 limit then was auto cli to $700 exactly a year in... Closed it like two years later bc of no cli. had a Slate that stayed at $2500 for two years- no cli! and increase in apr, so I closed it. My $5k Freedom
is my only open, active Chase account. Ive banked with them for four years nearly too!! Eh :-/
A lot of the automated increases reporting from Chase seem to be from people who have very low limits (below 2000). There have been people on here reporting an increase with a limit over 10000, but that seems more rare. A person claiming to be a Chase credit analyst on Fatwallet claimed that Chase's system looks at every account every six months and will give an increase if everything is good. I have never received an automated increase.