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Posts: 103
Registered: ‎02-12-2009
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Chase credit card question

I have a Chase Freedom Card, however the limit is only $400.  If i close the card and reapply after 60 days, do you think they will approve for a higher limit or the same limit?


When I obtained the card 2 years ago, I was in my rebuilder stage.  My score was 650ish and I had a lot of derogs.  Now my scores are a lot better, EQ 732, TU 682(1 last baddie).


Originally the card had a $200 limit.  I called and asked for an increase, they only doubled it.  With the limit being so low, they'll probably never give me a real limit.  Citi wasn't like that, I started out with a $500 limit and now its $4k.  They were opened around the same time. 


With the negatives of AAofA and higher utilization aside, would it better to close the card and reapply at a later date?


I've never been late, never over the limit on any of my tradelines for the last 3.5 years.  My Chase currently has a zero balance reporting.

Starting Score: 719
Current Score: 762
Goal Score: 800

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Valued Contributor
Posts: 1,291
Registered: ‎02-26-2008

Re: Chase credit card question

Don't close it. No need to close it in order to apply for a new card. Also, pay attention to your rewards, because the new Freedom cards have a weaker reward structure than they used to.
Posts: 15
Registered: ‎05-09-2009
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Re: Chase credit card question

Call and ask for an increase.
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
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Re: Chase credit card question

Mapleton wrote:
Call and ask for an increase.

Chase does a hard inq on CLI's when requested by the customer (as opposed to the elusive auto-generated CLI's.)
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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