topic Re: J.P Morgan Ritz Carlton Approved with Low Limit in Credit Card Approvals

J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Thu, 18 Jul 2013 23:32:35 GMT

Got Approved for the card for $7k Limit. Can I call them on activation to match my highest CL with BOA?

Re: J.P Morgan Ritz Carlton Approved with Low Limit

austinguy907 — Thu, 18 Jul 2013 23:53:41 GMT

$7K will get you a couple of nights there won't it?

Re: J.P Morgan Ritz Carlton Approved with Low Limit

FinStar — Thu, 18 Jul 2013 23:58:28 GMT

@Anonymous wrote:
Got Approved for the card for $7k Limit. Can I call them on activation to match my highest CL with BOA?

I don't believe you have to wait to activate the card to see if you can leverage a higher CL. However, Chase is not one to match other lenders per se, but you could entertain how much you are looking to increase the CL and why...but, through the reconsideration channel that is, since the U/W would be the one to review the request. It will be a HP though.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Networth — Thu, 18 Jul 2013 23:56:23 GMT

I don't see 7k as a low initial limit. As someone that stays at a Ritz 8-10 a year that should be plenty for any one time stay, unless you live at the place lol.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 00:02:39 GMT

@Networth nice one. with $350 Annual I was hoping around $15K or 20K.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 00:03:58 GMT

@FinStar I thought chase would always match the highest CL. Atleast that's what I read on these forums

Re: J.P Morgan Ritz Carlton Approved with Low Limit

emptypockets — Fri, 19 Jul 2013 00:05:33 GMT

Ask when you activate the card. That's what they say on the screen when u are approved. You may have to move a CL from another card if you have reached their internal limit of what they will grant you.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 00:07:41 GMT

@austinguy907. My minimum business stay at any of their properties will be atleast 5-7 days. So I'm not sure whether 7K Limit would be enough. But I'm lucky to get entered with chase again. I had a CO with them back in 2006. So U/W verified first whether I satisfied that account or not. And next day they approved the care

Re: J.P Morgan Ritz Carlton Approved with Low Limit

austinguy907 — Fri, 19 Jul 2013 00:13:29 GMT

My experience with Chase since they assumed my acocunts during the turmoil is that they're just a pain in the @$$ to deal with. My CU CC beats them over 3X in CL and they won't budge. So, it sits in a drawer somewhere until they send new cards then it hits the shredder.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

FinStar — Fri, 19 Jul 2013 00:15:42 GMT

@Anonymous wrote:
@FinStar I thought chase would always match the highest CL. Atleast that's what I read on these forums

The forums only provide a small percentage of anecdotal accounts to really quantify actual results for anyone who has a similar product (or other Chase products for that matter). A variety of factors are considered but everyone's experience will vary of course. The question being, would you really be using the card that much to quantify a higher CL?

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 00:18:44 GMT

This is my only card from Chase and won't be applying anymore cards from them. So just wanna make I have good CL on this card with them

Re: J.P Morgan Ritz Carlton Approved with Low Limit

FinStar — Fri, 19 Jul 2013 00:25:53 GMT

@Anonymous wrote:
This is my only card from Chase and won't be applying anymore cards from them. So just wanna make I have good CL on this card with them

Give it some thought and see if you want to pursue the UW/reconsideration channel to determine whether you qualify for anything higher. They would be the only ones that can make that decision. Did you satisfy the 2006 CO? It may come up for discussion during the review process plus anything else they may want explained.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 00:47:01 GMT

Yea I did satisfy that CO in 2011. Otherwise they won't have approved me for this card. So, I will wait for this card and will request for higher CL at the time of Activation

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 01:30:07 GMT

If you request a higher CL, they will do additional inquiries, and even after they might decline your request.

A card with high AF may not necessarily mean high CL either. Your income and CR are the main determinants of your CL.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 01:45:35 GMT

Income is in high six figures and fico score is from 720-740

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 03:02:42 GMT

@Anonymous wrote:
Income is in high six figures and fico score is from 720-740

what is your AAoA? How many new accounts and inquiries? Utilization? Any other derogs besides that charge-off?

My advice is to wait 6 months and then ask for a CLI. Typically people get the "best bang for the buck" that way. Asking for a CLI immediately upon account activation are usually declined, or the CLI isn't as substantial unless you can come up with a convincing reason why you need that CLI (i.e. BT).

Re: J.P Morgan Ritz Carlton Approved with Low Limit

MustangSaluki — Fri, 19 Jul 2013 03:22:36 GMT

Is the JPM R-C hidden tradeline?

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 03:27:31 GMT

@MustangSaluki wrote:
Is the JPM R-C hidden tradeline?

I don't think it is.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

Anonymous — Fri, 19 Jul 2013 03:56:21 GMT

@Anonymous wrote:
@FinStar I thought chase would always match the highest CL. Atleast that's what I read on these forums

That must be very selective reading! There are lots of threads discussing whether issuers match or not, and, as usual for most interesting questions here, the conclusion has to be YMMV. Certainly nothing like Chase always matches, my own accounts are a counter example to that. And it's more like 50/50 from those that report.

Re: J.P Morgan Ritz Carlton Approved with Low Limit

CreditScholar — Fri, 19 Jul 2013 03:58:01 GMT

@Anonymous wrote:
@MustangSaluki wrote:
Is the JPM R-C hidden tradeline?
I don't think it is.

I'm almost certain it reports. I haven't checked in awhile, but the last time I looked it was on there.