topic Re: Chase freedom approved! in Credit Card Approvals

Chase freedom approved! UPDATE

Lambo23 — Mon, 25 Mar 2013 13:17:49 GMT

Was approved for the chase freedom card today!! I got the 10 day message. Called the automated system today and it said I am approved for $500. Crappy because I have a cap one cash rewards for $1300 and Barclays for $2500 but I'll take it.
I called the backdoor number to see if they will raise my limit due to my other cards and me wanting to use this basically as a debit card. The rep was super nice and eventually talked me out of another srs pull. Told me to wait the 6 months and apply for a CLI. I asked about auto CLI and he said they don't do that because they don't like to pull our reports and put another inq on them? Found this kind of hard to believe. He also told me they probably only offered $500 due to so much available credit. What? He says they get nervous that because I have a lot of available credit that I could go out tomorrow and use all of it. I guess that's true but I figured they'd match my higher limits.
I plan on using it heavy for everyday expenses and just paying it constantly. I will rarely carry any balance. What are my chances of getting an auto increase ?

Update:

I called the credit analyst number this morning and spoke to a lady and explained to her that I want a higher limit because this will be my everyday card and for convenience sake. I told her the $500 limit just was not enough. I told her I have a couple higher limits already and would like this to match those. She proceeded to tell me why they only offered me the $500 limit. Which sounded like her just reading from a script. She did have quite the attitude. She said the only way to do it is a credit limit increase request through CS. I replied no thanks and hung up the phone.

I sat in my car for a few mins and thought about how annoying it will be to have to pay multiple times a month because of this low limit. Decided that my reports should be good enough and I will just do the increase request as stated by the rep. I called again and got another lady who was a lot nicer. Told her I needed to request an increase and she transferred me to a "customer service specialist" who was also very nice. I told her $500 limit will not suffice for my spending because I planned on using it as my main card. She told me she would need to look at my report again. I said ok. She asked my income and what I would like my credit limit to be, I told her $2000. She said ok let me see. 10 seconds later she says "alright you are approved for $2000, is there anything else I can help you with?" I was pretty shocked at how quick it was and was expecting some questions about my reports. I am super happy I listened to you guys and kept calling! It was nerve racking to recall them again 5 minutes after the first call but persistants paid off! I am now a happy chase freedom customer!!

Re: Chase freedom approved!

Open123 — Sun, 24 Mar 2013 23:17:04 GMT

Nice!

Nothing wrong with $500 starting CL. Use it and build your relationship with Chase. Only good things will happen creditwise.

Re: Chase freedom approved!

FocusedAndDetermined — Sun, 24 Mar 2013 23:23:05 GMT

Congrats on getting the card! It's a good one. As for the auto CLI, it seems to be a ymmv situation. Lately, it seems quite a few people have received unexpected increases. Sorry to say, I am not one of them.

Re: Chase freedom approved!

LS2982 — Sun, 24 Mar 2013 23:29:43 GMT

Ok that CSR sounds untrained for his job. Chase most definitely does auto luv and they so SPs as well every 6 months.

And the too much available credit is BS because there are plenty of members here with high limits and still get approved for high limits with chase with tons of available credit.

Re: Chase freedom approved!

lg8302ch — Sun, 24 Mar 2013 23:33:01 GMT

Congrats!
Most important is that you are approved. If you intend to use it as "debit" card then the CL does not matter so much, just send payments more frequently. I have this problem with Discover. A bit inconvenient but it can be done.

Re: Chase freedom approved!

Lambo23 — Sun, 24 Mar 2013 23:50:39 GMT

Thanks everyone. Yes I assumed he didn't know what he was talking about. Would it be smart to try and get the increase now? Or should I wait the 6 months?

Re: Chase freedom approved!

boomhower — Sun, 24 Mar 2013 23:52:48 GMT

Auto CLI's with Chase are random at best. Down the line when your overall credit picture has improved you can bite a hard for an bigger increase.

Re: Chase freedom approved!

Mike360 — Sun, 24 Mar 2013 23:55:26 GMT

Highly doubt you'd get approved for a credit increase. Only $500 to starts means you were probably on the borderline for approval. Also they do in fact give auto increases because I went from $3000 to $3500 after 6 months.

Re: Chase freedom approved!

Rhaeny — Sun, 24 Mar 2013 23:56:30 GMT

OP, call back and talk with someone else tomorrow. There have been many people, including myself, who called in for more than one recon. If I would have taken what the first agent I talked to as gospel, I would have never called back again and wouldn't have gotten my card. Basically I was declined and the 1st rep told me to wait for 2 years until my current accounts aged a bit. I had a few drinks, got my liquid courage up, and called back about 4 or 5 hours later and got another representative that approved me with a $5K limit.

Ummm all of this just happened yesterday so I encourage you to call back and plead your case to as many agents as you can until you get what you want. Just remember their names and voices in case you get the same person again....LOL!

Re: Chase freedom approved!

Epcot — Mon, 25 Mar 2013 00:16:45 GMT

Congrats on the approval!

Re: Chase freedom approved!

webhopper — Mon, 25 Mar 2013 00:30:53 GMT

Congrats on the approval!

I agree with Boomhower. My plan is to ask for a 10k limit on my chase card after it has been open two years..... right now its at 5k limit

Re: Chase freedom approved!

Lambo23 — Mon, 25 Mar 2013 03:46:50 GMT

The guy did tell me he made some kind of memo requesting an increase for me. So basically if they manually review my account then it ups my chances?
I didn't go through with it because of them having to pull my report again and therefore another inq. Not sure if its worth it?
CK score is 698.
Walmart TU is 670
Utilization is 10%

Re: Chase freedom approved!

Anonymous — Mon, 25 Mar 2013 02:05:35 GMT

Congrats on your approval

Re: Chase freedom approved!

HiLine — Mon, 25 Mar 2013 02:19:48 GMT

@Rhaeny wrote:
OP, call back and talk with someone else tomorrow. There have been many people, including myself, who called in for more than one recon. If I would have taken what the first agent I talked to as gospel, I would have never called back again and wouldn't have gotten my card. Basically I was declined and the 1st rep told me to wait for 2 years until my current accounts aged a bit. I had a few drinks, got my liquid courage up, and called back about 4 or 5 hours later and got another representative that approved me with a $5K limit.

Ummm all of this just happened yesterday so I encourage you to call back and plead your case to as many agents as you can until you get what you want. Just remember their names and voices in case you get the same person again....LOL!

I wouldn't count on an automatic credit limit increase. There's no guarantee it will happen, and even if it does, the increase usually isn't large.

Re: Chase freedom approved!

Lambo23 — Mon, 25 Mar 2013 03:47:54 GMT

Are you guys saying to call and let them hard pull me again? Or call and talk them into it without a hard pull?? Maybe that's not even possible.

Re: Chase freedom approved!

Anonymous — Mon, 25 Mar 2013 03:51:46 GMT

I was approved for the Freedom with a $1000 CL. I know it may be some HPs but I'm confident I will get my limit to $5000 within two years. Just treat it well and call for CLIs every 6 months if you don't get an auto. If they require a HP, evaluate whether or not your utilization etc. is in good enough shape to go for it. If not, wait another 6 months and repeat.

Re: Chase freedom approved!

HiLine — Mon, 25 Mar 2013 03:52:51 GMT

@Lambo23 wrote:
Are you guys saying to call and let them hard pull me again? Or call and talk them into it without a hard pull?? Maybe that's not even possible.

What we are suggesting is that you request another review of your credit profile based on the credit report they used to grant you the card. Insist that they re-consider your credit limit without making another inquiry.

Re: Chase freedom approved!

Lambo23 — Mon, 25 Mar 2013 06:15:56 GMT

What's the best number to call? I called the credit analyst number. Seems like that'd be the best one right?

Re: Chase freedom approved!

Anonymous — Mon, 25 Mar 2013 12:18:58 GMT

Chase has most of mine business account but i got to tell you some reps in there are just so untrained that makes you wonder some time how they got the job there in the first place at Chase. As far as you having to much available credit? Not really.Your credit limits are modest at best.

Call again and ask to speak to a senior credit analyst

They will not do a second inquiry as long as is with in the 30 days of the application.Just in case ask them not to

ask them politly to reconsider and if denied,thank them for their time and try in 6 months again.It will be a hard pull

Chase and lots of lenders do automatic CLI once in a while,i dont know what the credit analyst was talking about

Re: Chase freedom approved!

Anonymous — Mon, 25 Mar 2013 12:42:32 GMT

@Anonymous wrote:
Chase has most of mine business account but i got to tell you some reps in there are just so untrained that makes you wonder some time how they got the job there in the first place at Chase. Most of them are making minimum or slightly above minimum wage. There's only a very small select few out of the entire company's phone service that are paid decently, and they're the ones who usually needs to make very important decision and are higher up in the food chain.

As far as you having to much available credit? Not really.Your credit limits are modest at best. It depends on a peron's income. For example: 50k CL with 30k income? that's too much credit. Not saying that's the case for OP, but different banks have different rules/limits on this. Of course, that CSR may just be spouting nonsense or just trying to get OP off the phone.

Call again and ask to speak to a senior credit analyst
They will not do a second inquiry as long as is with in the 30 days of the application.Just in case ask them not to
ask them politly to reconsider and if denied,thank them for their time and try in 6 months again.It will be a hard pull

I just tried this for CSP myself, was told it will be another hard pull. CSR told me I can feel free to go ahead and do it though if I am confident, and said he has seen cases where people get an instant CLI right after getting the card.

Chase and lots of lenders do automatic CLI once in a while,i dont know what the credit analyst was talking about

Chase CLI is sporadic like others have said. If you start with a toy limit of 500-1000, your chances of auto CLI is a lot higher. For starting balances >2000, I haven't seen anyone said they got an auto CLI, but then again the sample on this forums cant speak for the entire population.

My responses in red

Just felt that its easier to answer this way haha