No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@kmkotas wrote:
I've had my Chase Freedom (which just converted to CSP this week!) since 2008. When I first opened the account I had a $6,000 limit. A year later it went up to $10,200, then $12,450 and in 2011 it was increased auto to my current limit of $16,000. My question is why haven't I received an auto increase since then? I always pay in full, keep utilization low, have a checking account with them so they can see I can clearly afford a higher limit, etc. I just don't get it. Did it plateau since I haven't updated my income until this week when I did the product change to CSP?
You may have hit their CLI ceiling in proportion to your overall profile. Keep in mind that, while you may have an overall banking relationship, it does not translate into a CLI. There are other internal factors that Chase reviews/evaluates for auto-CLI. Additionally, with changing the product, the clock usually (not always) starts over, regardless if you have had the account since 2008. Are you putting sufficient spend through the card to warrant a CLI? If you are only putting through $1K-$3K monthly on average (given the $16K CL), this may not trigger a CLI since sufficient threshold exists between the current usage and the hard limit.
Of course, you can always request a CLI, but as you may be aware, it will result in a HP.
@kmkotas wrote:
I've had my Chase Freedom (which just converted to CSP this week!) since 2008. When I first opened the account I had a $6,000 limit. A year later it went up to $10,200, then $12,450 and in 2011 it was increased auto to my current limit of $16,000. My question is why haven't I received an auto increase since then? I always pay in full, keep utilization low, have a checking account with them so they can see I can clearly afford a higher limit, etc. I just don't get it. Did it plateau since I haven't updated my income until this week when I did the product change to CSP?
Call for a CLI maybe you'll have better luck with a live person but it will be a HP
@FinStar wrote:
@kmkotas wrote:
I've had my Chase Freedom (which just converted to CSP this week!) since 2008. When I first opened the account I had a $6,000 limit. A year later it went up to $10,200, then $12,450 and in 2011 it was increased auto to my current limit of $16,000. My question is why haven't I received an auto increase since then? I always pay in full, keep utilization low, have a checking account with them so they can see I can clearly afford a higher limit, etc. I just don't get it. Did it plateau since I haven't updated my income until this week when I did the product change to CSP?You may have hit their CLI ceiling in proportion to your overall profile. Keep in mind that, while you may have an overall banking relationship, it does not translate into a CLI. There are other internal factors that Chase reviews/evaluates for auto-CLI. Additionally, with changing the product, the clock usually (not always) starts over, regardless if you have had the account since 2008. Are you putting sufficient spend through the card to warrant a CLI? If you are only putting through $1K-$3K monthly on average (given the $16K CL), this may not trigger a CLI since sufficient threshold exists between the current usage and the hard limit.
Of course, you can always request a CLI, but as you may be aware, it will result in a HP.
This is most likely answer. You'd have to be charging quite a bit on a monthly basis for them to auto CLI you above 16k. The question here isn't whether or not your credit profile warrants it, but also do you need a CLI?
If I had to guess, the magic number for Chase is around 50%. If you're not charging near or around 50% of your limit per month, they seem to stop giving you auto-CLIs at the higher CL levels. Are you charging around 8k per month and PIF?
Also your other cards don't have CLs anywhere near 16k. This may make them more hesitant as well. You may also have hit their maximum exposure to you at this time.
Many of the posters have given you very plausible reasons, and I agree with them.
It could be that you've reached the maximum CL threshold Chase is willing to extend to you at this point in time, or it could be that you're not using that card enough to warrant any auto CLI, or it could just be that Chase really doesn't like giving out auto CLIs.
From my personal experiences with Chase, I've only got ONE auto CLI and it was for only 2.5k. Most people would agree that Chase rarely gives out auto CLI. If you need a CLI, you should be prepared to ask for one and that it is going to cost you one hard inquiry.