Credit Cards

[mjb503]

Hi all,

I have been waiting to see if I get an automatic CLI on any of my cards but nothing has happened since I got them, except for Capital one from 500 to 750, which was guaranteed if I paid on time.

Is it too early to ask for a CLI on my Chase Freedom card? I would like them to increase it to 7000 but anything above 5000 is ok because then I can upgrade it to Visa Signature. I am not sure if I should do it now or wait another month since I got it exactly a year ago. Not sure if it will help but they have been my primary checking account for the past 6 years.

Here's a list of the cards I got and the current limits I have.

CapitalOne Platinum: $750 CL, got it December 2010

Discover More: $1500 CL, got it January 2011

Amex Blue Cash Preferred: $3000, got it May 2011

Chase Freedom: $2000C:, got it June 2011

Citi Forward: $7000 CL, got it September 2011

CapitalOne VentureOne: $3000 Cl, got it January 2012

My CK score is 730. TrueCredit lists my scores as 786 TU, 768 Ex, 758 Eq.

 Edit: I just checked my statements and I got my first Chase statement for their card in July 2011. Should I wait until after the July 2012 statement to ask for a CLI or it makes no difference? Or perhaps I might get an auto CLI witht he next statement?

Also any suggestions as to why no one has given me an auto CLI and what I did wrong to deserve this?

[webhopper]

You should call Amex and ask for a CLI that is 3 times your current limit first and foremost. If you are willing to have a hp on your credit, then you should call chase and discover and see if they will increase your CL or match citi.

[mjb503]

Wow. I followed your advice to the letter. I expected some increase but did nto expect Amex to triple my limit on the first call. They did!

Now my Amex has $9000 CL. I also called Discover and they gave me $1500 to make my CL $3000 with a soft pull as well.

Thank you so much for your advice.

Do you think I have better chances of going above $5000 CL with Chase if I call now or next month? I don't mind a HP as this is my primary card and I can hit my current limit too fast.

[SwiftTone]

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mjb503 wrote:

Wow. I followed your advice to the letter. I expected some increase but did nto expect Amex to triple my limit on the first call. They did!

Now my Amex has $9000 CL. I also called Discover and they gave me $1500 to make my CL $3000 with a soft pull as well.

Thank you so much for your advice.

Do you think I have better chances of going above $5000 CL with Chase if I call now or next month? I don't mind a HP as this is my primary card and I can hit my current limit too fast.

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It's safer to wait but I've had luck with a CLI on my Slate.

What happened was I applied and got approved for a Discover with a $3500 starting CL(next highest CL was $1250) I called Chase executive office before it was reported to the CRBs to get a SP CLI. She asked me how much I wanted. I told her that my new Discover was at $3500 but it wasn't reporting yet, and that I'd like my Chase Slate to be at $3500-$4000 because ultimately I wanted Chase to be my main bank. The next day she called me and said she raised my CL to $4000 via SP. And get this, my CL before the CLI was $750 and I just had it CLIed to $750 from $300 back in February.

I always deal with the same woman. I suggest you call the executive office, and talk to someone there and develope a relationship with that person for future needs.

[webhopper]

You should call next month after the updates to the limits on amex and discover have updated. Chase was very impressed by my amex account when I called them concerning an issue with my amazon account in march. When you talk to chase next month you want to mention that you'd like them to give you a limit comparable to citi and amex, or you'll be forced to reduce your use of the card. Good luck and congrats on your CLIs!

[SwiftTone]

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webhopper wrote:
You should call next month after the updates to the limits on amex and discover have updated. Chase was very impressed by my amex account when I called them concerning an issue with my amazon account in march. When you talk to chase next month you want to mention that you'd like them to give you a limit comparable to citi and amex, or you'll be forced to reduce your use of the card. Good luck and congrats on your CLIs!

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Personally I wouldn't used the term "forced". I'd probably say something along the lines of " I'd like Chase to be my primary bank, but with a relatively small credit line on my Freedom card, it would be more convenient to use my AMEX as my main card unless you can raise my limit to something compareable"

And yes, Chase and AMEX always bump heads with each other! Use it to your advantage!

[webhopper]

In some cases if the limit on a card is insufficient for what you plan to spend monthly you are forced to use another card. I've never been the most sensitive person when it comes to wording things, so probably your wording is better to indicate convenient

[webhopper]

To OP, your Cap 1 platinum will likely never grow. You can either SD it or close it, but I wouldn't necessarily hold my breath or beat myself up over not getting a CLI.

[mjb503]

Yep, I know about Cap1. I got that just as a stepping stone when I didn't have any revolving credit.

Thanks for the help guys. I'll call Chase next month and let you know how it goes.

I guess I won't be calling Citi this year as it would be rude to ask for more credit.

[webhopper]

Nah, its never rude to ask for more. I just don't have any experience with CIti, so I'm not really in a position to comment on that particular organization.