Raising Chase Card Limit

[azguy13]

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@Brax wrote:

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@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

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A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

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Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

[Lin55]

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@MeridianRN wrote:

I got by Sapphire Preferred in October and received a cli (3000) in early February and I always paid off what was on my card before the statement close date.

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just to be sure; Auto CLI, right?

[Anonymous]

Congrats! Enjoy your journey in building credit.

[MeridianRN]

Yes.

[Pat94108]

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@azguy13 wrote:

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@Brax wrote:

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@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

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A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

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Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

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Maybe this is the term that the people at the credit card companies use to refer to this type of customers? I am pretty sure I read something about this a few years ago. Maybe the term wasn't deadbeat though but vaguely remember reading something about this.

[TrulyyBlessed]

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@azguy13 wrote:

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@Brax wrote:

---

@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

---

A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

---

Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

---

I'm not sure of the term "freeloader", but bank executives did give customers who paid their accounts in full every month the nickname "deadbeat." So in this case it is good to be a credit card deadbeat if it means your avoiding paying interest charges.

[enharu]

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@TrulyyBlessed wrote:

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@azguy13 wrote:

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@Brax wrote:

---

@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

---

A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

---

Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

---

I'm not sure of the term "freeloader", but bank executives did give customers who paid their accounts in full every month the nickname "deadbeat." So in this case it is good to be a credit card deadbeat if it means your avoiding paying interest charges.

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+1.

Certain banks do prefer customers who do not pay their accounts in full. With the way certain rewards program are set up, even after factoring in swipe fees, the banks make little to no profit. In certain cases, they may even make a loss. For instance if a customer were to use the Cash+ or any other 3-6% card for those bonus categories exclusively, the bank is bound to make a loss on that customer.

It's also hard to make a profit out of 2% rewards cards such as the Arrival. The Fidelity Amex is a little different because it runs on the American Express network, which has a higher swipe fee, and the card is also used as a marketing tool for other fidelity products.

Most banks count on customers not paying their bills in full. American Express is one of the few banks that seem to reward customers for paying in full, but they are now seemingly interested in collecting more interest revenue now too.

With all that being said, it's better to be a deadbeat than to pay such fees. 

[takeshi74]

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@zjones wrote:
Have people just applied for a higher grade card (Sapphire, SP) after a certain amount of time and just gotten a larger limit off the bat?

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Time doesn't guarantee anything.  Responsible use will help build positive payment history and improve your AAoA which will improve your credit.  It's always about one's credit (and the creditor's underwriting criteria).

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@zjones wrote:
Will I look deadbeat paying it off completely every week?

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You might want to look up the definition of deadbeat.  Paying doesn't make one a deadbeat -- quite the opposite, in fact.

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@Lin55 wrote:

I have read on here that PIF-ing would get you an auto CLI in 3-6 months.

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PIF'ing by itself isn't going to guarantee a CLI just as no single factor guarantees anything.  I've PIF'ed for over a year on Chase cards with no CLI but I expect that since I know I'm at their internal limit.  

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@Pat94108 wrote:

Maybe this is the term that the people at the credit card companies use to refer to this type of customers? I am pretty sure I read something about this a few years ago. Maybe the term wasn't deadbeat though but vaguely remember reading something about this.

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It has been used that way but a "deadbeat" in this context can build credit while a true deadbeat isn't going to.

[azguy13]

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@enharu wrote:

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@TrulyyBlessed wrote:

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@azguy13 wrote:

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@Brax wrote:

---

@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

---

A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

---

Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

---

I'm not sure of the term "freeloader", but bank executives did give customers who paid their accounts in full every month the nickname "deadbeat." So in this case it is good to be a credit card deadbeat if it means your avoiding paying interest charges.

---

+1.

Certain banks do prefer customers who do not pay their accounts in full. With the way certain rewards program are set up, even after factoring in swipe fees, the banks make little to no profit. In certain cases, they may even make a loss. For instance if a customer were to use the Cash+ or any other 3-6% card for those bonus categories exclusively, the bank is bound to make a loss on that customer.

It's also hard to make a profit out of 2% rewards cards such as the Arrival. The Fidelity Amex is a little different because it runs on the American Express network, which has a higher swipe fee, and the card is also used as a marketing tool for other fidelity products.

Most banks count on customers not paying their bills in full. American Express is one of the few banks that seem to reward customers for paying in full, but they are now seemingly interested in collecting more interest revenue now too.

With all that being said, it's better to be a deadbeat than to pay such fees. 

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I understand that that the banks may have a nickname for people who PIF each month, but when using phrases like that the user should specify. If you read the post, it makes it sound like those people are deatbeats and freeloaders. For someone new to this forum, it could give the exact opposite impression that we strive to give.

I understand where you are coming from, but I for one will not pay a cent in interest just to avoid being called a name, lol. However, I also won't complain when I don't get a SP CLI from chase.

So, moral of my story, when using words that can be construed as offensive, specify what you mean.

[CreditScholar]

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@azguy13 wrote:

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@enharu wrote:

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@TrulyyBlessed wrote:

---

@azguy13 wrote:

---

@Brax wrote:

---

@Involver wrote:

Why would you look like a deadbeat for using your card and paying it off weekly?

---

A deadbeat in the credit card industry is someone who pays off their balance in full each month, by not paying interest that makes a customer not very "profitable" which they equate to being a deadbeat/freeloader.

There's a chance Chase auto CLIs can be achieved by running through at least 1.75x - 2x of CL. Possibly requires much more. So running through $2000 a month on a $500 card will eventually get a small auto CLI, in theory.

---

Absolutely incorrect. Just as another user pointed out, swipe fees are applied EVERY time you run your card. This is why a lot of establishments have a minimum purchase amount to use a credit card. It is also a big reason why certain places do not accept Discover and Amex.

Nobody should feel like a "deadbeat" or "freeloader" for paying off their account in full. It is absolutely a responsible thing to do and should not feel guilty for doing it.

---

I'm not sure of the term "freeloader", but bank executives did give customers who paid their accounts in full every month the nickname "deadbeat." So in this case it is good to be a credit card deadbeat if it means your avoiding paying interest charges.

---

+1.

Certain banks do prefer customers who do not pay their accounts in full. With the way certain rewards program are set up, even after factoring in swipe fees, the banks make little to no profit. In certain cases, they may even make a loss. For instance if a customer were to use the Cash+ or any other 3-6% card for those bonus categories exclusively, the bank is bound to make a loss on that customer.

It's also hard to make a profit out of 2% rewards cards such as the Arrival. The Fidelity Amex is a little different because it runs on the American Express network, which has a higher swipe fee, and the card is also used as a marketing tool for other fidelity products.

Most banks count on customers not paying their bills in full. American Express is one of the few banks that seem to reward customers for paying in full, but they are now seemingly interested in collecting more interest revenue now too.

With all that being said, it's better to be a deadbeat than to pay such fees. 

---

I understand that that the banks may have a nickname for people who PIF each month, but when using phrases like that the user should specify. If you read the post, it makes it sound like those people are deatbeats and freeloaders. For someone new to this forum, it could give the exact opposite impression that we strive to give.

I understand where you are coming from, but I for one will not pay a cent in interest just to avoid being called a name, lol. However, I also won't complain when I don't get a SP CLI from chase.

So, moral of my story, when using words that can be construed as offensive, specify what you mean.

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+1. I don't care what they refer to me as, since they're still making money. To quote Lexie "they're getting fat off my swipe fees and boy can I swipe".