I was just approved for a Chase Freedom card with a limit of 2,000. I wasn't really looking to get another card, but when I was checking my CK account they recommended the card for balance transfers and said I had very good approval odds. They also have a promotion right now where if I spend 500 in the first three months I get 200 in return, I'm assuming as a statement credit. I figured that would come in handy with Christmas around the corner.
Balance transfers and purchases have 0 percent APR for 15 months, so I wanted to transfer my capital one balance but the amount is around 1300. I was really hoping for a credit limit of 4-5k so that I could transfer this balance AND spend up to the 500 needed for the 200 statement credit and still have a somewhat respectable utilization amount. Is it reasonable to call and request an additional 2-3k right off the bat? It said on the approval screen that if the limit doesn't meet my needs I should bring this to their attention when I call to activate the card, I'm just not sure what the standard protocol is for this sort of thing. Is a request of 2-3k (or more) reasonable, or is that a long shot? For those who have gone this route, how much did you request and what kinds of questions did they ask? Any help would be appreciated, thanks.
I just called to see if the limit could be increased and to my surprise it was, but only by 500. I can't complain though, as recent as six months ago I couldn't even get approved for cards much less a credit limit increase.
I first spoke with a CSR who told me that nothing could be done but that I could speak with a specialist if I want to, I said yes and was transferred. The specialist put me on hold to review my account and came back to ask about the lone remaining negative credit card account on my credit report. It's an old charged off Capital One account and it falls off my report in six months, I told her the truth, that I called the company and made a fair settlement offer that they rejected. She put me on hold and when she came back she said I couldn't get the 4,000 limit I was asking for but that she could add 500 to my limit.
All in all I'm happy with it, I won't be transferring the Capital One balance like I had hoped for, at least not all of it, but it still got me an extra 500 to help with utilization. I can't wait for that old charged off account to fall off in June.