Chase Freedom...Confused?!

[roshan21]

Hi this is my first post. I applied for Chase Freedom 4/13/13 and I was approved but not given a limit. It was late so I called 4/14/13 and spoke with a rep. He said the app was very new so what he was telling me might not be accurate but he said my CL was $500. Now from what I can see (I get credit alert monitoring) they pulled my Transunion report.

Now I have one baddie on there which is due to fall off next month. I've been cleaning up my credit for a few months. I have Discover IT $1200, Cap1 $500/$300(orchard bank)/$200(secured), and 1stPremier $300.

Could this be why I got the $500 limit?
Should I call back to see if it really is the limit and if I can get it raised?
What do you think my chances are of getting higher CL?
Would asking for CLI be consider another HP?

All input is appreciated! Thanks!

[dodfire]

You have already suffered the HP on your report. So asking for a higher CL is not going to hurt you at all. Give them a call and ask!!

[roshan21]

Also all the low limit cards I have had since 2010. Those were my starter cards. I never applied for any other cards until this year which was the Discover and Chase.

[roshan21]

Thanks! Hope it works

[RobertEG]

I would tend to disagree.

By asking for a higher credit limit, you have intiated a request for credit, which gives rise to their ability to again pull your CR as a new hard inquiry.

They may rely on their prior inquiry, but can pull anew.

They have just completed a determination of appropriate credit.  If nothing has changed, their determination of the appropriate CL will most likely not change.

I would give it some time, and simply manage your % util against your CLs  If you maintain % util the same, an increased CL wont add to your score.

Just carry lower balances for awhile, and show effective use of the account.