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@Anonymous wrote:
I personally really like the card. Why does the $500 limit bother you? Is is simply because it is low? Or is it too low to be used? Do you really spend more than $500 on rotating categories in a month? I'd do one of two things depending on what you want.
1. If you don't think you'll get a CLI but like the card and want a higher CL, close the card and then reapply. You'll probably get approved with a higher SL.
2. If you don't like the card and don't care to use it, just sock drawer it.
Personally I would use option 3. I won't go over the $500 each month so I'd use it normally and just pay in full before the statement closes.
I know I'm being a spoiled brat but I just think that the relationship is worth rewarding. Mostly every other card I have gives auto-luv or sp cli's. My first CapOne went from $500 to $3000 in 6th months!!! Chase is just notoriously stingy. It's easy for me to blow through $500 a month and them pif...that's what I've been doing for 2 yrs...nothing.
OP-I'm basically in the same boat you're in except mine is almost 4 years old with a $1500 limit and a 23.49% APR. I too wasted a few HPs trying to increase the limit within the first 1.5 years and had no luck. I've decided later this year to app for another Chase card now that my scores and profile have improved dramatically since then and if approved move the Freedom CL over to another card (I also have CSP and Hyatt) and close it. Thinking of applying for AARP, Freedom UL, or maybe the Ritz.
@Anonymous wrote:
@Anonymous wrote:
I personally really like the card. Why does the $500 limit bother you? Is is simply because it is low? Or is it too low to be used? Do you really spend more than $500 on rotating categories in a month? I'd do one of two things depending on what you want.
1. If you don't think you'll get a CLI but like the card and want a higher CL, close the card and then reapply. You'll probably get approved with a higher SL.
2. If you don't like the card and don't care to use it, just sock drawer it.
Personally I would use option 3. I won't go over the $500 each month so I'd use it normally and just pay in full before the statement closes.
I know I'm being a spoiled brat but I just think that the relationship is worth rewarding. Mostly every other card I have gives auto-luv or sp cli's. My first CapOne went from $500 to $3000 in 6th months!!! Chase is just notoriously stingy. It's easy for me to blow through $500 a month and them pif...that's what I've been doing for 2 yrs...nothing.
Not necessarily a spoiled brat, perhaps too influenced by the concept of a cc "growing". There is no meaningful relationship that needs to be rewarded. You use the card, and get some rewards, and they get some money from your spend, perhaps losing some money if all your spend is all in 5% category.
The freedom has a very low reward cap, if you can max out $500 a month in one of the categories, you will get the max rewards. But if the rewards aren't worth it for you, and you feel that the low CL is constantly annoying you, then SD or close.
I am in exactly the same situation. Same card, same limit, same concerns. I have a few other cards with $20K+ SL and HATE to waste a HP with Chase only for them to give me a $250 CLI after a few years with them. Hate to cancel it because it is helping my AAoA. I was using it for short business trips but kept maxing it out so just use it for gas now.
Why not apply for another Chase product and move the CL over to the Freedom?
Chase is known like to chase the folks with wealth and spending. You just need to keep the card active and put on some spending on the card. Then Chase will be impressed and give you a raise. Good luck.
@Anonymous wrote:
Chase Freedom was one of my first cards when I started my credit journey and I was happy with the measly SL of $500. That was then, this is now...after two years, is my smallest limit by far. No auto-luv (that’s not something, I hear, Chase does), and I wasted a hp because I thought I’d get the cli based on my length of account, 100 percent on time payments, pif every month, other data points a good: scores low 700’s across all bureaus, no Bk’s, no baddies. Should I cancel the account or just put it in the sock draw?
$500 limit cards are fun, seriously.
Are you using the card this quarter for your cellphone charges? Android Pay or Apple Pay?
My Freedom Card is $1,500 limit and they actually CLD to get it there several years ago. So at least yours is not going down
Those UR points are quite valuable to your future traveling self, so I’d keep the card and take advantage of the categories. Worst case? It keeps your activity profile on Chase radar so when you app for another card later, you have that history ( and the UR points if you get CSP ).
Keep the Card.
The 5% categories are a fantastic tool.
If the 500 feels insulting (understandable) apply for another card if your scores warrant it and move a bit of that line over to make it feel more respectable in your eyes.
I just feel that the Freedom is one of the cards that’s nice to have in one’s arsenal.
With the 5/24 rule, the chance to correct the mistake might not come back around for awhile