Tips on getting a Chase CLI

[Anonymous]

I have a Freedom Unlimited with a $3700 CL. $700 of that was transferred over from my Slate, which previously was $1200 (this is the original card I got back in college when I had no credit).

I asked for a CLI on my Slate shortly after being approved for the FU and was denied. I asked for a CLI on the FU the next day. Also denied.

I was recently approved for a Venture One with $10k CL. Should I circle back to Chase to try again? I got the FU about 6 months ago now. With Chase would it be a hard pull or a soft pull?

I like Chase, but they seem to be stingy with CLIs.

My score is an average of 676, which I know is not great. My income is in the high 5 figures. I've got 5 inquiries right now because for some reason when I got a car this year, they did 3 separate pulls (or is that normal?). Thank you for any assistance!

[Anonymous]

Chase is always a HP for customer initiated CLIs. And, for some reason they're often more generous granting credit on a new card vs. a CLI on an existing card.

My advice to you would be to apply for a Ritz card and enjoy the perks for the first year - it's not subject to 5/24 and strangely is easier to be approved for than some other Chase cards as the underwriting is done through a different department. I recently got a $14k Ritz approved with scores similar to yours. Then, as you approach one year with the Ritz card, roll the limit into your other Chase card and close the Ritz if the second year benefits are not worth the AF.

[CreditInspired]

Not only is Chase stingy, but it would be a HP, and more than likely two HPs, but they will ask you first if it's okay to pull.

[credit_is_crack]

Hey Winst0n...I just posted a recent approval specifically talking about Chase CLI's vs a new Card. Historically Chase has not been known for CLI's "worth" the HP. But for those who use the cards heavily (using 50% or more of the credit line each month is a standard definition of 'heavy usage' with Chase), their CLI Requests can really be noteworthy. Chase is not known for SP CLI's, usually any customer initiated CLI's will be a HP.

Search "Chase $16,100 CLI" in the approvals and I have more details there about what I'm talking about. For the inquiries and your car, this is normal. If you leave financing up to the dealer they will usually send your app to most and/or all of their partners searching for rates, resulting in multiple hard pulls. FICO scoring models will lump all inquiries coded "auto dealer" (or something like that) into 1 inquiry if they are in a 14 day span.

Your report still shows all 5, but when calculating your score all the dealers get lumped into 1 inquiry so don't worry much about those.

Your score isn't glowing, but it's certainly not in the pits either. If you decide to do the "new Card" thing with Chase instead of a CLI I would look at the co-branded cards, they tend to return higher starting limits than one of their branded cards would. Also search the forum for "chase 5/24" before applying for anymore of the Chase cards so you don't rack up unnecessary denials. Hope this helps and good luck!

[Anonymous]

Thank you all! You were super helpful and very fast to reply. Hopefully as I learn more I will be able to return the favor for others.

I'm happy to report that based on your advice, I was successful in my quest to improve my CL with Chase. I applied for the Ritz Carlton Rewards (useful because I do like traveling) and got an instant approval with a $10k line. I guess I won't bother with improving the CL on my FU because it seems like it's not worth the effort. If the Chase gods deem me worthy in the future and offer a CLI, so be it.

[credit_is_crack]

Nice Job and congrats on the new addition! A $10,000 CLI is quite respectable lol Woot-Woot!

[AverageJoesCredit]

Even if you dont travel i heard it goes great with Cheese

[cmm89]

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@Anonymous wrote:
Chase is always a HP for customer initiated CLIs. And, for some reason they're often more generous granting credit on a new card vs. a CLI on an existing card.

My advice to you would be to apply for a Ritz card and enjoy the perks for the first year - it's not subject to 5/24 and strangely is easier to be approved for than some other Chase cards as the underwriting is done through a different department. I recently got a $14k Ritz approved with scores similar to yours. Then, as you approach one year with the Ritz card, roll the limit into your other Chase card and close the Ritz if the second year benefits are not worth the AF.

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It doesn't look like the Ritz Card has the AF waived for the first year. Where do you see that?

[Anonymous]

Congrats on the Ritz approval! The fee is not waived for the first year... read my original reply again. Many card holders (myself included) don't see the benefit in keeping it beyond the first year, however.

[Anonymous]

It's true that the 1st year fee is not waived, but if you do the math the 1st year benefits amply offset the fee.