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Chase freedom: ask for CLI or close and reapply?

Valued Member

Chase freedom: ask for CLI or close and reapply?

So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or move the credit limit to the CSP, close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy
Message 1 of 14
13 REPLIES
Super Contributor

Re: Chase freedom: ask for CLI or close and reapply?


vn25 wrote:
So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy

ask for a CLI.

Chase can be generous with CLIs if your CR, scores and income can support it.

There's really no point in closing and re-applying.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 14
Blogger

Re: Chase freedom: ask for CLI or close and reapply?

That's actually not a bad idea if you don't mind the damage to AAoA. Chase is stingy with CLI's but can be generous with starting limits. The only concern is whether they will find this activity suspicious. Has anyone else tried this? 

Message 3 of 14
Senior Contributor

Re: Chase freedom: ask for CLI or close and reapply?


enharu wrote:

vn25 wrote:
So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy

ask for a CLI.

Chase can be generous with CLIs if your CR, scores and income can support it.

There's really no point in closing and re-applying.

 


+1

 

I would agree with this approach.

Message 4 of 14
Blogger

Re: Chase freedom: ask for CLI or close and reapply?


FinStar wrote:

enharu wrote:

vn25 wrote:
So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy

ask for a CLI.

Chase can be generous with CLIs if your CR, scores and income can support it.

There's really no point in closing and re-applying.

 


+1

 

I would agree with this approach.


The scores and income that would support a 1k CLI can also support a 5k higher credit limit through a new application. Ignoring the damage to AAoA, which way would you go? 

Message 5 of 14
Super Contributor

Re: Chase freedom: ask for CLI or close and reapply?


HiLine wrote:

FinStar wrote:

enharu wrote:

vn25 wrote:
So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy

ask for a CLI.

Chase can be generous with CLIs if your CR, scores and income can support it.

There's really no point in closing and re-applying.

 


+1

 

I would agree with this approach.


The scores and income that would support a 1k CLI can also support a 5k higher credit limit through a new application. Ignoring the damage to AAoA, which way would you go? 


I've went from a 2k CL to a 8.5k CL on my Amazon Visa when i requested for a CLI.

I don't think it really matters which route you take. Chances are you will end up with the same CL. IMO it's about how much Chase is willing to extend to the individual.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 6 of 14
Senior Contributor

Re: Chase freedom: ask for CLI or close and reapply?


HiLine wrote:

FinStar wrote:

enharu wrote:

vn25 wrote:
So I have a freedom with 1000 limit (my first card ever got PC from a student card, smallest limit too) and a CSP with 9100 limit.

The question is, should I ask for a CLI on the freedom card or close it and re apply for a new freedom? I figure that its a hard pull either way, but with a CLI they'll give me, what, another 1k at best, but if I apply as new I could probably do better than that.

Does anybody see any issues with this idea? Only problem I can see is AAoA going down and I wonder if Chase would give me a hard time because in applying for the same card I just closed.

Taking any and all input Smiley Happy

ask for a CLI.

Chase can be generous with CLIs if your CR, scores and income can support it.

There's really no point in closing and re-applying.

 


+1

 

I would agree with this approach.


The scores and income that would support a 1k CLI can also support a 5k higher credit limit through a new application. Ignoring the damage to AAoA, which way would you go? 


I think to the OPs point is the damage to AAoA, a factor that cannot be ignored - sorry.  Besides, only Chase will be able to determine the elegibility of such CLI.  It doesn't mean that "only" 1K will be granted.  The OP can either take the risk on AAoA and receive a not so stellar new TL or receive a higher CLI.  Anecdotally, Chase CLIs (successes or denials) posted on these forums only represent a small fraction of the cardholder population to provide any meaningful statistical results in either direction. 

 

However, since no one holds the 8-ball, it would be in the best interest for the OP to weigh those options.

Message 7 of 14
Blogger

Re: Chase freedom: ask for CLI or close and reapply?

The way I read the OP, the OP is already aware of the damage to AAoA but is still willing to take it in exchange for a higher credit limit increase. The question here comes down to whether the possible extra credit limit increase can justify the decrease in AAoA. By now we know how hard it is to get a CLI from Chase. enharu was able to get a high CLI because he is a higher earner, high spender. A lot of people on this board have reached a higher starting limit with Chase while having a much lower level of spending. Given that his BCP has a 42k limit, who knows what limit Chase would have given him had he canceled and re-applied for the Amazon card?

With that said, there is a lot of uncertainty regarding the outcome of such a strategy. Does the OP's credit profile, income, assets, and previous history with Chase support a high starting limit? Without knowing further we can't reasonably estimate the chance of success.

Message 8 of 14
Senior Contributor

Re: Chase freedom: ask for CLI or close and reapply?


vn25 wrote:
Does anybody see any issues with this idea?

With the assumed CLI.  There's really not enough information available to tell you if a $1K CLI is what you can actually expect.  My wife recently got a $3K CLI from Chase.  As stated above, be very careful assuming that you can perform meaningful statistical analysis based solely on forum posts (on any discussion forum on any topic).

 

Have you actually calculated the impact to AAoA?

Message 9 of 14
Super Contributor

Re: Chase freedom: ask for CLI or close and reapply?

All things being equal, for Chase I'd just apply for a new card, especially if I were willing to take a HP anyway.  You get a new sign up bonus and can consolidate the credit lines a year later.

 

HP just for a higher CL seems like such a high price to pay.  

Message 10 of 14