05-07-2013 02:11 AM
So, I am fairly new to the whole credit industry (2 years, 1 month), and fairly young at 25. I made some stupid mistakes 2 years ago by going on a spree of applying to different cards in which I was only approved for 1 (NFCU - $1,300) out of 15 or so cards. Aside from an Amazon Store Card ($400) and a secured Capital One mastercard ($350) a few months later, I laid off on applying to anything in relation to credit for almost two years to prevent myself from digging a deeper hole. Fortunately, it looks like the inquiries dropped as of last week. So, anyways, after two years of good practice with what I had, I decided to try my luck.
I decided to apply for the Chase Sapphire Preferred and Discover IT cards. I was approved for both! $10,000 and $2,000 limits on the CSP and Discover IT cards respectively. Not only that, I raised my credit limit of my NFCU visa from $1,300 to $25,000, and my Amazon card from $400 to $1,550 (all instant increases, so I'm assuming no hard pulls). I'm at $38,900 total credit with about ~$600 utilized.
Anyways, I do apologize for the random spiel. This just happens to be a big deal for me. Onto the topic, what are Chase and Discover's policy in regards to CLI. Is there a certain waiting period, and do they do hard pulls?
Much appreciated! I have learned a great deal from reading these forums over the last 2 years.
05-07-2013 04:08 AM
05-07-2013 06:09 AM
Okay, sounds good. From the looks of it, it seems people are getting hard pulled for Chase CLI. I already have two inquiries from these two cards, I don't need any more.
for chase most of the time it's a HP.
there's been people who rarely get away with a SP, but don't get your hopes up on this until it actually happens to you. They might have been spending a lot on their cards, or their incomes might have been really high, or they might just be lucky.
As for discover, it's a SP, but if you want more than what they are willing to provide via a SP, it will be a HP then.
Grats on the approvals! Nice limit for Chase. For Discover, if you want a higher limit, you could try calling them and see if they can raise it via SP. There's been people who got it done. You might need a good explanation for it though.
05-07-2013 06:59 AM
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