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I did search this topic and found some older threads. I've had the card for less than a month, first statement has not been cut yet. From what I read is it looks like the majority would recommend using it alot (for stuff you'd normally buy of course), PIF, and hope for the best. A minority suggest letting a small balance carry.
Since I'm new to Chase, I plan on going conservative and not trying the small balance approach. I will just use it for whatever I'd normally spend and PIF when statement is cut. Any other wisdom out there, anyone gotten auto-CLIs from Chase on a new Freedom account?
My normal CC spend is $700-900 a month, I hope that would be enough to trigger a CLI, but with the limit of $2500 not sure it will be. My short-term goal is a bigger CL for utilization purposes, long-term build a good relationship with Chase should I decide to go for CSP or United Mileage Explorer.
My DH opened his Freedom card in mid-January this year with a starting limit of $4,000. In early February, he used it to buy new tires for about $700. This is the only purchase he made with the Freedom. Seriously. Since it had 0% APR for the first 15-months, we just made $100 per month payments. In June, he received an auto-CLI of $2,300 for a new limit of $6,300.
Yes, he got auto-LUV after just 5 months and had only used the card once and was carrying a balance. Meanwhile, I run about $2,000 through my Freedom most months, PIF before statement cuts, and have not seen any auto-LUV. Pffffttttt! lol
^ Haha.. That's good to know. I'm in the same boat as OP (just got my Freedom card with $4k CL less than a month ago). So just use it once and carry the balance then.
@CribDuchess wrote:My DH opened his Freedom card in mid-January this year with a starting limit of $4,000. In early February, he used it to buy new tires for about $700. This is the only purchase he made with the Freedom. Seriously. Since it had 0% APR for the first 15-months, we just made $100 per month payments. In June, he received an auto-CLI of $2,300 for a new limit of $6,300.
Yes, he got auto-LUV after just 5 months and had only used the card once and was carrying a balance. Meanwhile, I run about $2,000 through my Freedom most months, PIF before statement cuts, and have not seen any auto-LUV. Pffffttttt! lol
Maybe since you PIF before the statement cuts, their computer sees it as you are not using the card? I don't know. The cynic in me wonders if their model sees your DH's card and thinks "this guy carries a balance we can make money on him". I don't know, but it is fun to speculate what goes on behind the curtain.
tja.. I am in the same boat ... tried to spend reasonable for the first 3 months (about 15% util) - next 4 months higher usage (about 60-70%) ..no luv yet. But I did not carry a balance yet...might do this while in the 0% apr and see how that will go.... Good luck on your mission ..LOL
I recently got a small auto cli on my freedom visa. I got the card in late May and got the auto inc. this mth b4 the 4th statement cut. I have been carrying a balance since I have the 0% intro, using about 40-50% of that cl. There have been others on here who posted about their auto cli's too.
Seems like so far it's after about 3 mths.
@navyox wrote:I did search this topic and found some older threads. I've had the card for less than a month, first statement has not been cut yet. From what I read is it looks like the majority would recommend using it alot (for stuff you'd normally buy of course), PIF, and hope for the best. A minority suggest letting a small balance carry.
Since I'm new to Chase, I plan on going conservative and not trying the small balance approach. I will just use it for whatever I'd normally spend and PIF when statement is cut. Any other wisdom out there, anyone gotten auto-CLIs from Chase on a new Freedom account?
My normal CC spend is $700-900 a month, I hope that would be enough to trigger a CLI, but with the limit of $2500 not sure it will be. My short-term goal is a bigger CL for utilization purposes, long-term build a good relationship with Chase should I decide to go for CSP or United Mileage Explorer.
Anecdotal evidence suggests that percentage (of CL) spending is too low for an auto-CLI. 40-60% (of CLI) for several months seems to be about the bare minimum.
@9CLINE wrote:I recently got a small auto cli on my freedom visa. I got the card in late May and got the auto inc. this mth b4 the 4th statement cut. I have been carrying a balance since I have the 0% intro, using about 40-50% of that cl. There have been others on here who posted about their auto cli's too.
Seems like so far it's after about 3 mths.
I've had the Freedom since early june. Fourth statement will be cutting in next few days. Have never carried a balance. Have run significant number of charges through card which has a 3k limit. Last month I ran well over the full credit line through the card (making multiple payments during cycle). I let 2.2k report to CRAs one month. The last two months I let approx $80-$110 report each month before PIF immediately after statement cut. Hoping for auto cli, but nothing has come through yet.
I'd like an increase on mine....I think they've extended me what they want to though