Re: Your first and highest CL leap ...
07-03-2012 12:12 PM
My highest has always been with Chase. I have had Chase since a converted WAMU card in 2001 which started with a 1k limit. Back then WAMU auto increased my credit limits without me even asking up to 4k. In 2006 I applied for an actual Chase Visa and got a 3k limit. Since then, Chase has pretty much increased my limits to what it is today at 12100 on both cards. In that span I asked for CLI twice on both cards and the rest were from auto increases.
It helps to explain why you need a CLI in the first place to the reps. In my case, I had charged a lot on my cards so the High Balance section on my Credit report reflected 80% utilization but I always PIF before the closing date so my actual utilization used in the FICO formulas was low. I explained to the reps I needed the increase so I could charge more and noted that even though I charged so much each month, I always paid it off regardless. They saw that as a positive and was never declined a increase.
Because I was at 12k on my Chase cards, Amex matched the same limit at 12100 when I first applied with them. I did the same thing with the Amex card, I charged 8500 in one month and paid it off. My credit reports reflected a High Balance of 8500 but nothing in the actual balance column. I asked for a CLI about a year from my anniversary date and got a increase to 22700.
My Bank of America cards are another story. They were at 10k but back in 2009 when they were cutting limits, they cut it in half so I have 2 with 5k limits. I don't bother asking for increases on them since i rarely utilize them. My other cards have better rewards programs.
From my experience, talking to the reps and explaining your situation will get you farther than pressing a button on their bank site. It helps that the CSR's are also human, and who knows.... they may be or may have been in the same situation as you so they may understand you and actually make an effort to get you what you ask for. Better than asking a computer that spits out preset decisions based on a number assigned to you.
Exp 787 // Equifax 784 // Transunion 780