Credit Cards

[EaglesFan2006]

Can someone explain the "credit ceiling" that Chase has?  I had heard that they only extend you a limit based on your overall profile and what they define as the maximum credit you should have over all cards, and that they might drop your limit if you get new credit.  I'm coming up on 6 months for both my Chase and Citi card, and I'm planning to request a CLI from Citi.  However, I'm nervous about Chase noticing that and dropping my limit with them.  The holidays make me worry more since I was reading that some cards might be looking to drop limits anyway, despite good payment history.

[distantarray]

companies realize the holidays spending gets higher, general rule of thumb no one cares unless you carry your balances for over 3 months.

[distantarray]

unless it's a charge card and then you got issues lol 

[youngandcreditwrthy]

Ehhh Neiman's dropped me from $750 to 505 after I took a few months to pay a $289 bal off. So I pif and closed them. I was only paying the min to estab a pmt history and get a cli. So as you can see from my siggy... A crappy $505 or even $750 line is a dent in my cred score- of course I built from these size lines obvi. Hsbc/crap one blow.

[EaglesFan2006]

---

distantarray wrote:

unless it's a charge card and then you got issues lol 

---

When you say Charge card, do you mean a store card as opposed to a tradtional CC?

Oddly enough, I have one store card with Kay and recently recieved a CLI of $26.00 ... haha not sure what the point of that was.

[navigatethis12]

I have never heard of this, and they usually only have a certain amount of credit they wish to extend to you on their own cards. The only reason they may worry is if your income is 20000 and you have 50000 in available credit. If you have a decent income, your available credit is in line with it, and you have a clean report, you have nothing to worry about.

[trumpet-205]

Chase looks at total credit you have with them, not account basis. They do have their own "credit ceiling" for their customers. When you apply your second, your third, etc Chase card they do factor in on existing Chase credit amount to determine how many credit they want to extend. I don't know whether Chase cares about the amount of credit you have with others though.

[SnackTrader]

---

EaglesFan2006 wrote:

---

distantarray wrote:

unless it's a charge card and then you got issues lol 

---

When you say Charge card, do you mean a store card as opposed to a tradtional CC?

Oddly enough, I have one store card with Kay and recently recieved a CLI of $26.00 ... haha not sure what the point of that was.

---

Charge card refers primarily to American Express charge cards.  These cards MUST be paid off of all charges during the statement period.  There is a pay by date approximately 15 days after the month ends by which you MUST pay all charges.  They are different than revolving credit cards.  These cards include the Amex Green, Amex Gold, and Amex Platinum.

[android01]

I'm not sure what Chase's ceiiing is for CLs.  i have two accounts with them  -  a JP Select with a $25.000 CL and a CSP with $20,000.  I have no other relationship with them other than these credit cards.

[jamesdwi]

don't go overboard in the first 6 months with the card, make payments more than minimum, don't be late on any credit  account you will be fine, don't go over 80% usage on cards, if they collect interest on you, they will love you, they won't give you CLIs but they will have no problems collecting the interest, pay it down when you can.,