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Good Morning Everyone,
My question is regarding asking for a CLI from chase after being denied my 1st time. Basically short story, I asked for a CLI from chase when I was utilizing over 90% of my limit ($200 btw.) I called the Recon Center and they still wouldn't budge due to my utilization. I've had the card for about a year now. Some good news though is that they told me once I paid off most of my balance, my chances of approval would be good since that was the only reason they would not give me the CLI. Some info about me includes I am 19, I currently have 3 credit Cards.
Bank of A.: $1,400 CL (0% utilization)
Capital One: $500 CL (20% utilization)
Chase: $200 (0% utilization as of 11/17/2013)
Inquiries in the past 6 months:
EX: 1
EQ: 0
TU: 1
FICO: 754
Income: $29,000/yr
I am going to ask for a modest increase to about $3,500. What do you think my chances are for an approval? Any help would be appreciated!
@09Lexie wrote:
Welcome to the forum! If your CR's have updated as listed, then your chances are good.
+1
Based on your credit capacity and history, they may not give you the highest above BoA. However, any incremental movement on your current $200 line should be positive.
Even if history wise my Oldest account is 7 years old? my AAoA is around 2.2 years. Shucks, :/, but ya it's a lot better than nothing.
@acar3044 wrote:Even if history wise my Oldest account is 7 years old? my AAoA is around 2.2 years. Shucks, :/, but ya it's a lot better than nothing.
Even if your history is beyond that. Some lenders will not be the 1st to approve anything higher that your current lines; but it depends on a lot of factors (income, history, internal scoring, etc) and your individual overall profile. As with anything, your outcome will vary but it never hurts to ask even for that amount - in most cases they will counter with the most reasonable or suitable CL.