Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 645
Registered: ‎05-29-2011
0

Re: CSP increase too soon??

After $7k then what ? $10k ? $20k? Higher CL just bc you want it isn't a good reason.  Lenders want to see a decent income and history, and "history" does not mean one week.

About $215,000 total credit among 11 cards
Valued Contributor
Posts: 2,489
Registered: ‎01-22-2012
0

Re: CSP increase too soon??

You're lucky you even got approved, and its a bit much to expect a CLI already. Most of the time a CLI from Chase will be a HP. Auto CLIs are possible after a few months if you have very heavy spending and the income/scores to match. I got one after 3 months via a SP, but I think it's the exception not the norm.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Established Contributor
Posts: 591
Registered: ‎05-05-2012
0

Re: CSP increase too soon??

Chase rarely gives auto cli. You'd be lucky to ever get one. From what i seen here Chase gives auto cli but to users who have cards in the 500-1000 range but theres that smaller percent of users who have 5k or higher who have been able to get an auto cli with a sp.

Are you going to need that increase soon or is it more of a want?
Gardening Since: March 4, 2013.
In My Wallet: Chase: Freedom Visa Signature | Sapphire Preferred World Mastercard. |
Established Contributor
Posts: 586
Registered: ‎02-22-2011
0

Re: CSP increase too soon??

Okay...first of all everybody...I'm not a her, i'm a HIM...lol. Secondly, I don't plan on doing HP's!! lol Thats why I was asking if Chase does increases through SP's. I'm in the garden, and I plan on staying here. Being in the garden, myFico ENCOURAGES SP's. Yea, I want the high CL's, BUT, its not just because of a WANT, but because it helps with UTL. I'm currently at 29% UTL, and I want to try and get below the 9% that every talks about. Yea, thats going to include paying off some debt, (which I plan to do), but I see increases happeneing everywhere, and thats what i'm trying to do. If Chase only does HP's for CLI, then by all means i'm staying where i'm at.

 

So, I appreciate the "tough love", but i'm not being reckless. My ultimate goal is to build the best credit profile, and have high limits. I'm just a little impatient, so i'm trying to see how I can get a head start on it. The reason why I asked if it would be too soon, is because I see people getting increases, and then request a SP again, and there they go getting bumped from 5k to 7k, then to 10k immediately after. It was just a question I was wondering if Chase did too.

 

Thanks for the responses though everybody.lol.

CL-5kNPSLCL-3.6kCL-4kCL-7.5kCL-7kCL 7.9kCL-4.2k
GARDENING SINCE 07/13/13
Established Contributor
Posts: 586
Registered: ‎02-22-2011
0

Re: CSP increase too soon??

Its the exact same as people getting the "app itch" on this site. Everybody gets the itch...well, a good chunk at least. My itch lately has just been trying to increase my limits.

CL-5kNPSLCL-3.6kCL-4kCL-7.5kCL-7kCL 7.9kCL-4.2k
GARDENING SINCE 07/13/13
Contributor
Posts: 108
Registered: ‎08-13-2008
0

Re: CSP increase too soon??

If you are going to get one, it will occur @ appx 6months. That is when I and another person on the forums received an auto CLI. Mine went from 5k to 15k and I have no idea why. The most I put on one month was 2k followed by 1k to get the min spend and other than that maybe 100/month was my average. It became my highest limit by 8k. High limits are wasted on the frugal.
Age 29
AU- United+ Visa 33k, *97. GM MasterCard 15k, *95.
Individual- PenFed Plat Rew 7k, *08. Amex Blue 6.7k, *12. Hilton Amex 5.5k, *12. Chase Sapphire 15k, *12. U.S. Bank Cash+ 12.3k, *12. Barclays Priceline.com Rewards Visa 11k, *13. Citi DoubleCash (PC'd in *14) 7k, *13. Club Carlson Premier 9k, *13.
Established Contributor
Posts: 766
Registered: ‎01-16-2012
0

Re: CSP increase too soon??

1. You need to pay attention to WHO is talking about these every hour CLIs, WHICH cards this happens with (frequently ge backed cards that serve little purpose but to artificially inflate available credit) and HOW these CLIs fit into the poster's long term plans.
2. The csp is NOT a card for carrying balances, so as long as you pay it off the day before posting, your utilization will be zero.
3. There are also fico related penalties with underutilization. So you need to look at your average monthly spend as well. If you have 5 cards with 20k limits, you will need to post a balance on one card of between 1k and 2k to maintain a single card util between 1-10% and overall util of >1%. If you are in a bucket that optimizes 5-9% util, it is impossible to maintain both individual and overall utilization. To keep overall utilization 5-9%, you will need to post a balance of 5-9k on one card.
4. With the exception of Amex, the limits on useful cards from mainstream issuers grow over YEARS. You need to look LONG TERM, not focus on the next 6-12 mos. but many of the people on this board came here during rebuilding, which was frequently needed because of impulse decisions and an inability to delay gratification. So keep that inherent bias in mind.
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Senior Contributor
Posts: 3,070
Registered: ‎11-02-2009
0

Re: CSP increase too soon??

I received an auto CLI on my Chase Freedom from $5500 to $8000 just about a month ago.  I got the card around April of last year.  Don't know how rare they are but they can happen.

 

I think the concern of underutilization is a little overblown.  1% works pretty well for most people.  Even if 5-9% is ideal for a particular person, you're only talking about a few points. 

 

  


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Established Contributor
Posts: 586
Registered: ‎02-22-2011
0

Re: CSP increase too soon??

Good to know! Thanks. appreciate the info!

CL-5kNPSLCL-3.6kCL-4kCL-7.5kCL-7kCL 7.9kCL-4.2k
GARDENING SINCE 07/13/13
Frequent Contributor
Posts: 341
Registered: ‎08-14-2012
0

Re: CSP increase too soon??

They thought you were a girl bro, lol. Sigh, if only we had a way into NFCU, a man could dream right...

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.