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knowing credit line before approval?

Established Contributor

knowing credit line before approval?

A follow up to my recent posting on why you use credit cards.

How can we find out our CL in approved ...before risking our highly precious HP?
Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 1 of 52
51 REPLIES
Super Contributor

Re: knowing credit line before approval?

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 52
Established Contributor

Re: knowing credit line before approval?

Thats sad. And unfair.

Consumers should know what we are buying before spending our HPs.

The creditors have a major advantage in suppressing everyones scores this way.
Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 3 of 52
Frequent Contributor

Re: knowing credit line before approval?


myjourney wrote:

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised


Someone here recently received $7100 CLI from Chase just by calling them back after receiving SM that they will do SP $7100. The amount of the increase was revealed in advance to him/ her and this is honestly the first time I hear something like that. Sometime the creditor will increase your CL for the amount of BT.

 

New accounts ??? No way to know in advance. Nice try. Smiley Happy

Message 4 of 52
Super Contributor

Re: knowing credit line before approval?


Platinum wrote:

myjourney wrote:

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised


Someone here recently received $7100 CLI from Chase just by calling them back after receiving SM that they will do SP $7100. The amount of the increase was revealed in advance to him/ her and this is honestly the first time I hear something like that. Sometime the creditor will increase your CL for the amount of BT.

 

New accounts ??? No way to know in advance. Nice try. Smiley Happy


I saw that thread last night but and this is just IMHO 

I questioned the theory as its the first i've ever seen and may just have been an inexperiened CSR saying that

Because we all know Chase will HP for a $500 CLI's and some still end in denial 

 Smiley Surprised

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 52
Frequent Contributor

Re: knowing credit line before approval?


myjourney wrote:

Platinum wrote:

myjourney wrote:

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised


Someone here recently received $7100 CLI from Chase just by calling them back after receiving SM that they will do SP $7100. The amount of the increase was revealed in advance to him/ her and this is honestly the first time I hear something like that. Sometime the creditor will increase your CL for the amount of BT.

 

New accounts ??? No way to know in advance. Nice try. Smiley Happy


I saw that thread last night but and this is just IMHO 

I questioned the theory as its the first i've ever seen and may just have been an inexperiened CSR saying that

Because we all know Chase will HP for a $500 CLI's and some still end in denial 

 Smiley Surprised


myjourney,

I agree with you it was isolated case of inexperienced CS Rep.

Message 6 of 52
Valued Contributor

Re: knowing credit line before approval?


Fico2Go wrote:
A follow up to my recent posting on why you use credit cards.

How can we find out our CL in approved ...before risking our highly precious HP?

You can't find out your CL in advance.

 

But you can do some research, and get at least an idea of what's going to happen for a given lender.

 

For example, I got a Cash+ card recently, and one of the things that attracted me to it is the experiences of others in getting high CLs.

 

There are multiple credit card forums out there, along with Google, and you can get an idea of what to expect.

 

Message 7 of 52
Valued Contributor

Re: knowing credit line before approval?


Platinum wrote:

myjourney wrote:

Platinum wrote:

myjourney wrote:

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised


Someone here recently received $7100 CLI from Chase just by calling them back after receiving SM that they will do SP $7100. The amount of the increase was revealed in advance to him/ her and this is honestly the first time I hear something like that. Sometime the creditor will increase your CL for the amount of BT.

 

New accounts ??? No way to know in advance. Nice try. Smiley Happy


I saw that thread last night but and this is just IMHO 

I questioned the theory as its the first i've ever seen and may just have been an inexperiened CSR saying that

Because we all know Chase will HP for a $500 CLI's and some still end in denial 

 Smiley Surprised


myjourney,

I agree with you it was isolated case of inexperienced CS Rep.


I read the same thread, so I sent a SM to chase....they were like "all cli are a hp, do you want to continue?"



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 8 of 52
Super Contributor

Re: knowing credit line before approval?


Swapmeet wrote:

Platinum wrote:

myjourney wrote:

Platinum wrote:

myjourney wrote:

You can't due to the fact you'll never know the lenders algorithm and all that factors into itSmiley Surprised


Someone here recently received $7100 CLI from Chase just by calling them back after receiving SM that they will do SP $7100. The amount of the increase was revealed in advance to him/ her and this is honestly the first time I hear something like that. Sometime the creditor will increase your CL for the amount of BT.

 

New accounts ??? No way to know in advance. Nice try. Smiley Happy


I saw that thread last night but and this is just IMHO 

I questioned the theory as its the first i've ever seen and may just have been an inexperiened CSR saying that

Because we all know Chase will HP for a $500 CLI's and some still end in denial 

 Smiley Surprised


myjourney,

I agree with you it was isolated case of inexperienced CS Rep.


I read the same thread, so I sent a SM to chase....they were like "all cli are a hp, do you want to continue?"


ROFLOL yep

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 52
Established Contributor

Re: knowing credit line before approval?

I dont want to write off the possibility that the chase cli was legitimate. Amex can do it, so can chase on a case by case perhaps. Although unlikely as many have suggested.

User5387, I am not certain if DD on multiple site can give the answer needed since each cr is different. income is different too. so cl approval is the hidden element that creditors have over us.

Currently, we cant even form a pattern of simple approval based on Inquiries let alone cl approval.

Some people get approved with 20 inquiries while others get denied at 4.





Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 10 of 52