CSP CLI?

[joeyoey]

I posted a message the other day about applying for a Chase Sapphire Preferred & getting the 30 day message.  After some persuasion from here I went ahead & called them & found out that was approved for $5k.  (I think I might have squealed a little when the rep told me.  loL)  Other than getting an AMEX (which I managed to do back in Oct.) this has been one of my main goals since I started my credit rebuilding last year.  

Here's my question...   What are my odds/chances of getting a CLI & when?  I certainly don't want to push my luck with them.  I don't suppose I "need" more than $5k, it's just that I would like more just for utilization purposes.  Should I wait 2 months?  6 months?  Should I just use it often & PIF and hope for an auto CLI or should I give it a little time & call an ask for one?

Thanks for any advice!

[red259]

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@joeyoey wrote:

I posted a message the other day about applying for a Chase Sapphire Preferred & getting the 30 day message.  After some persuasion from here I went ahead & called them & found out that was approved for $5k.  (I think I might have squealed a little when the rep told me.  loL)  Other than getting an AMEX (which I managed to do back in Oct.) this has been one of my main goals since I started my credit rebuilding last year.  

Here's my question...   What are my odds/chances of getting a CLI & when?  I certainly don't want to push my luck with them.  I don't suppose I "need" more than $5k, it's just that I would like more just for utilization purposes.  Should I wait 2 months?  6 months?  Should I just use it often & PIF and hope for an auto CLI or should I give it a little time & call an ask for one?

Thanks for any advice!

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Chase is going to require a HP for a CLI, unless its an auto cli which is not super common. You would likely need to wait six months to have a chance at a CLI. I wouldn't go for a CLI with chase. Instead I would app for another card then you can combine credit lines later on. 

[bigbang91]

With Chase, i think you need to show usage and sometimes let's the statement reports a balance and then PIF after. After 6 months, if chase isnt giving you auto love, then go ahead and request aCLi

[joeyoey]

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@red259 wrote:

Chase is going to require a HP for a CLI, unless its an auto cli which is not super common. You would likely need to wait six months to have a chance at a CLI. I wouldn't go for a CLI with chase. Instead I would app for another card then you can combine credit lines later on. 

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I've heard this mentioned before but I'm not 100% sure what this means.  Do I open another card to combine the limits & then just not use one &/or close it??

[bigblue7722]

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@joeyoey wrote:

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@red259 wrote:

Chase is going to require a HP for a CLI, unless its an auto cli which is not super common. You would likely need to wait six months to have a chance at a CLI. I wouldn't go for a CLI with chase. Instead I would app for another card then you can combine credit lines later on. 

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I've heard this mentioned before but I'm not 100% sure what this means.  Do I open another card to combine the limits & then just not use one &/or close it??

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its very simple. Open another chase card (get the sign up bonus) probably keep the card for just under a year before the AF hits (if there is one) then ask to have the limit moved to the card you want to keep and close the other card. 

[kdm31091]

Be careful with doing that sort of thing repeatedly, especially with Chase, and note you can only get the bonus every 24 months, not every year, so if you close/reopen every year you won't get it again. But it doesn't sound like that is what you are going for anyway. With regards to CLI, the only good way to get one with Chase is to just open a new account which sucks, to me, because you are dinging your AAOA constantly to increase a limit on a card where they should just offer you a CLI. Even if you request a CLI with Chase, it's a HP and usually is NOT a significant increase.

This is why I am less than impressed with them. I know I keep repeating myself, but growing with you is not one of their strong points. My opinion is just be happy with your $5k CSP and don't expect it to move without having to open a new account (adding inq and dinging AAOA) or requesting CLI (adding inq). Neither option is desireable IMO, I'd rather work with a lender who will at least reasonably grow along with me as opposed to forcing me to choose between two evils to improve my account.

[scorewatcher7]

I was thrilled upon approval for CSP and never took my chances with a CLI for quite a while; almost 18 months. At that point, HP all the way but it was approved. It's worth the HP is you need it. But you have to figure out whether your score will drop more with an HP and higher overall CL or without it and a higher utilization.

On a side note, my friend has had 3 auto CLIs with them in less than two years.