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Frequent Contributor
Pat94108
Posts: 361
Registered: ‎03-23-2013
0

Re: knowing credit line before approval?


FinStar wrote:

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


It does happen, but very, very rarely.  I only had this happen a couple times on two of my Chase CCs and once on my BOA Privileges CC.  They were indeed SPs, but I never initiated a CLI request, it was indirectly as a result of a general inquiry about my accounts and the CSRs had simply noted the available offers on them.


From what I understand, CLI initiated by Chase are always SP, it's only requests initiated by the customer that are HP. So in your case, since it wasn't you who asked for the CLI,  it was always going to be a SP. 

Frequent Contributor
pdog661
Posts: 377
Registered: ‎03-31-2012
0

Re: knowing credit line before approval?

[ Edited ]

Fico2Go wrote:
you are assuming that 100 cc inquiries means 100 attempts for 100 credit cards. Why not see it as 100 attempts to get three best cc accts?

A better solution might be to base on actual acct opened. Credit card companies could EASILY UPDATE APPROVAL THE MINUTE IT HAPPENS. competing creditors could know right away whos getting what and when.

A more logical defense for the cc industry..at least for me. would be to say HPs prevent idiots from applying for credit cards none stop...eating up resources, time, etc. Since its free to apply a HP makes people think twice.

Thats all folks..


When you apply for a credit card you are approved or declined.  If approved you get the credit, if declinded you do not.

 

With a home loan the buyer makes the final decision if they accept the loan offering.  Once you hit the "apply" button on a credit card application the decision is out of the consumers hands.  

 

So with 100 credit applications you could end up with 100 credit cards.  With 100 home loans you can only possibly end up with 1 loan.  More risk to the lender therefore they have stricter rules regarding how they count towards their decision to lend money.  

 

I also think that people get to hung up on credit lines...... If you have a strong credit file and strong income then they will lend you large credit limits.  

Valued Contributor
FinStar
Posts: 5,343
Registered: ‎10-21-2012
0

Re: knowing credit line before approval?


Pat94108 wrote:

FinStar wrote:

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


It does happen, but very, very rarely.  I only had this happen a couple times on two of my Chase CCs and once on my BOA Privileges CC.  They were indeed SPs, but I never initiated a CLI request, it was indirectly as a result of a general inquiry about my accounts and the CSRs had simply noted the available offers on them.


From what I understand, CLI initiated by Chase are always SP, it's only requests initiated by the customer that are HP. So in your case, since it wasn't you who asked for the CLI,  it was always going to be a SP. 


Only in that regard, yes, but the account would have received the auto-CLI at some point as expected.  It just happened that in those instances I spoke to a rep who had informed me of the offers and I elected to take the offer at that point (no different than Chase doing a previous SP and granting an auto-CLI in a subsequent period).  Case in point, and although not as frequent, there are instances in which some customer-inititated CLI requests are SP, again... rare.   However, it doesn't matter to me if it's SP or HP, if I want the CLI and that's the lender's policy so be it.

Frequent Contributor
Pat94108
Posts: 361
Registered: ‎03-23-2013
0

Re: knowing credit line before approval?


FinStar wrote:

Pat94108 wrote:

FinStar wrote:

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


It does happen, but very, very rarely.  I only had this happen a couple times on two of my Chase CCs and once on my BOA Privileges CC.  They were indeed SPs, but I never initiated a CLI request, it was indirectly as a result of a general inquiry about my accounts and the CSRs had simply noted the available offers on them.


From what I understand, CLI initiated by Chase are always SP, it's only requests initiated by the customer that are HP. So in your case, since it wasn't you who asked for the CLI,  it was always going to be a SP. 


Only in that regard, yes, but the account would have received the auto-CLI at some point as expected.  It just happened that in those instances I spoke to a rep who had informed me of the offers and I elected to take the offer at that point (no different than Chase doing a previous SP and granting an auto-CLI in a subsequent period).  Case in point, and although not as frequent, there are instances in which some customer-inititated CLI requests are SP, again... rare.   However, it doesn't matter to me if it's SP or HP, if I want the CLI and that's the lender's policy so be it.


I see. Sorry had not understood it that way! How often does Chase give CLI anyway? Does anyone know?I'd assume 6 months?

Community Leader
Senior Contributor
myjourney
Posts: 26,284
Registered: ‎02-07-2013
0

Re: knowing credit line before approval?

[ Edited ]

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


NO NO NO its not that I don't believe but they are rare cases thus far and 1 case is hardly proof of an policy change

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
Fico2Go
Posts: 714
Registered: ‎12-05-2013
0

Re: knowing credit line before approval?

It could be a coincidence too. If auto cli is done every six months, thats 1/180 or slightly over 1/2%.

So everyone is right.
Discover IT $10,000 == 12/2013
AMEX PRG NPSL == 12/2013 ---> BCP $11,000 === 12/2013 ----->BC $6000 ====04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Valued Contributor
FinStar
Posts: 5,343
Registered: ‎10-21-2012
0

Re: knowing credit line before approval?


Pat94108 wrote:

FinStar wrote:

Pat94108 wrote:

FinStar wrote:
It does happen, but very, very rarely.  I only had this happen a couple times on two of my Chase CCs and once on my BOA Privileges CC.  They were indeed SPs, but I never initiated a CLI request, it was indirectly as a result of a general inquiry about my accounts and the CSRs had simply noted the available offers on them.

From what I understand, CLI initiated by Chase are always SP, it's only requests initiated by the customer that are HP. So in your case, since it wasn't you who asked for the CLI,  it was always going to be a SP. 


Only in that regard, yes, but the account would have received the auto-CLI at some point as expected.  It just happened that in those instances I spoke to a rep who had informed me of the offers and I elected to take the offer at that point (no different than Chase doing a previous SP and granting an auto-CLI in a subsequent period).  Case in point, and although not as frequent, there are instances in which some customer-inititated CLI requests are SP, again... rare.   However, it doesn't matter to me if it's SP or HP, if I want the CLI and that's the lender's policy so be it.


I see. Sorry had not understood it that way! How often does Chase give CLI anyway? Does anyone know?I'd assume 6 months?


AFAIK, any customer-initiated requests can be submitted at any point in time.  However, if the account is relatively new and there is no prior Chase account history, the suggested timeframe is usually around 6 months - all depending how everything looks from a profile perspective.  Chase also periodically reviews for auto-CLIs but this is pretty much all over the map since there is no set timeframe criteria on when these can occur, some as early as 2 months, others anywhere from 4-12 months or beyond.  Usage, internal score and credit quality seem to be some of the key drivers.

Frequent Contributor
slap_happy
Posts: 365
Registered: ‎08-17-2013
0

Re: knowing credit line before approval?


FinStar wrote:

Pat94108 wrote:

FinStar wrote:

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


It does happen, but very, very rarely.  I only had this happen a couple times on two of my Chase CCs and once on my BOA Privileges CC.  They were indeed SPs, but I never initiated a CLI request, it was indirectly as a result of a general inquiry about my accounts and the CSRs had simply noted the available offers on them.


From what I understand, CLI initiated by Chase are always SP, it's only requests initiated by the customer that are HP. So in your case, since it wasn't you who asked for the CLI,  it was always going to be a SP. 


Only in that regard, yes, but the account would have received the auto-CLI at some point as expected.  It just happened that in those instances I spoke to a rep who had informed me of the offers and I elected to take the offer at that point (no different than Chase doing a previous SP and granting an auto-CLI in a subsequent period).  Case in point, and although not as frequent, there are instances in which some customer-inititated CLI requests are SP, again... rare.   However, it doesn't matter to me if it's SP or HP, if I want the CLI and that's the lender's policy so be it.


the thing is, I think after they SP'd me about 10 days ago it must have triggered the offer and most likely I would have gotten the same CLI as an auto CLI after my staement cut, I dont usually call or have any type of dialog with any of my credit cards, 

it just so happened that I asked and not applied for a CLI, I asked if it were possible, I was assuming the usual "no not without a HP" I guess it was just coincedence that I asked when they were most likely gonna give it to me anyway.




Amex Platinum NPSL, Amex Zync NPSL,
Community Leader
Senior Contributor
myjourney
Posts: 26,284
Registered: ‎02-07-2013
0

Re: knowing credit line before approval?

[ Edited ]

myjourney wrote:

slap_happy 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 it:smileysurprised:


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. :smileyhappy:


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 

 :smileysurprised:


seems like you guys dont believe what happened and I dont blame you, I was quite shocked at the reply from chase... 

I sent an SM asking if there is anyway I can get a CLI without a HP, I explained that i been with chase for over 3 years with perfect credit history, my scores are right at 800, I also told them that my chase freedom is my lowest CL, I have access to all 3 of my CRA files, chase did ramdomly soft pull my expirian about 10 days ago, right after I got my BOA CLI which was a HP, boa reported it that same day (mid cycle report) so chase seen it with their SP. 

the next day I got the SM reply telling my that I have an offer up to $7100 (which made it my highest CL by $100) without a HP. I still didnt believe it and called in, the rep told me: yes, you do have a standing offer of a CLI without us having to do a HP up to $7100, if you want more then it will be a HP, I said lets go for the $7100.

all she did was ask my income, that is it. and instantly got the CLI, I checked all 3 CRA files today and nothing from chase. so yes, it can happen, im sure its rare but remember, I have been with them over 3 years, not 3 months. 


NO NO NO its not that I don't believe but they are rare cases thus far and 1 case is hardly proof of an policy change


To further add on this subject recently some are saying that Amex has changed the policy about Optima cards and that you don't have to close it to be approved for other cards....

Has policy changed or have we seen 4 lucky people because I have seen 4 cases in the last 3 weeks.

Not enough to make me think a change has taken place yet...maybe they owed small sums ...IDK Lol

 

In fact there's one in approval forum right now approved Friday ....But based on the countless denials and threads I've read about having to close the card first....

IMHO there just isolated cases so far until we see more approvals based on the same card/lender/profile....

 

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/Confirmed-Approved-for-AMEX-PRG-without-cl...

 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Frequent Contributor
Pat94108
Posts: 361
Registered: ‎03-23-2013
0

Re: knowing credit line before approval?

[ Edited ]

Thank you for your response Fin Star.


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