Credit Cards

[altayar]

I recently requested a CLI on my Chase Freedom card. I requested a CLI of $1,000; that was denied. I got the chance to talk to a credit specialist who then approved a CLI of only $500.

Today I got the letter confirming the increase. But it said one of the reasons they couldn't approve my original request was because I reached the maximum credit they can offer me. What does that exactly mean? I mean that changes over time, is that right?

[trumpet-205]

It is what it is. It means you reached the point where Chase cannot extend anymore credit to you.

Usually this is due to low income, multiple Chase CCs, or some rare cases, having too many CCs.

[altayar]

My income is quite good so I doubt it's the actual reason.

Maybe like you said, too many CC's. I've opened 5 accounts just in the last 5 months, two of which are with Chase. 

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trumpet-205 wrote:

It is what it is. It means you reached the point where Chase cannot extend anymore credit to you.

Usually this is due to low income, multiple Chase CCs, or some rare cases, having too many CCs.

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[bribro]

I was told by a couple of Chase CSRs that when you first apply for a Chase card they grant you the maximum amount of credit they are comfortable giving to you (for whatever reasons - credit history, income, etc.). This proved not to be the case as I got a CLI shortly thereafter so as usual YMMV.

[CreditScholar]

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bribro wrote:

I was told by a couple of Chase CSRs that when you first apply for a Chase card they grant you the maximum amount of credit they are comfortable giving to you (for whatever reasons - credit history, income, etc.). This proved not to be the case as I got a CLI shortly thereafter so as usual YMMV.

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+1. Usage is also another factor in CLIs in that heavy usage will improve your chances.

I also received an auto-CLI after 3 months due to heavy usage. YMMV though.