topic F'n strange, Chase auto-CLI on Freedom in Credit Card Approvals

F'n strange, Chase auto-CLI on Freedom

Revelate — Tue, 25 Aug 2015 05:49:42 GMT

Beats the hell out of me. I ran up the Freedom to 87.5% utillization and then let it hang out a bit testing FICO maximum tradeline crap, but paid it off a couple days ago pre-C1/IHG apps, and it was at 1K.

I logged in looking to see if I'd paid a bill already, and noticed something wierd: my limit is now 2000 according to the Chase interface.

It's been 1K since I got the card back in Jan '13... and I had to recon to get that, and just had been approved for CSP and IHG is still in limbo somewhere. CSP has a stupid amount of spend on it with buying pretty much all new stuff, but Freedom generally has only had 5X things on it other than the DMV registration which got dropped on it when it was awkward in the mortgage process to put it elsewhere.

Anyway, strange to say the least based on people's reports for a while.

Re: F'n strange, Chase auto-CLI on Freedom

ddemari — Tue, 25 Aug 2015 05:55:11 GMT

Congrats Revelate!!!! Maybe your two years of history and using the card helped them realize its time to bump up that credit limit. Although rare, some friends of mine have also experienced autoluv on chase freedom recently.

Re: F'n strange, Chase auto-CLI on Freedom

Anomalous — Tue, 25 Aug 2015 06:08:56 GMT

Congratulations!

It's nice to read more Chase auto luv anomalies

Re: F'n strange, Chase auto-CLI on Freedom

ddemari — Tue, 25 Aug 2015 06:10:20 GMT

I agree, definitely nice to see that they are giving some good card members a bump in their credit line.

Re: F'n strange, Chase auto-CLI on Freedom

alextercero — Tue, 25 Aug 2015 07:21:17 GMT

Congrats

Re: F'n strange, Chase auto-CLI on Freedom

joedtx — Tue, 25 Aug 2015 07:38:31 GMT

Congrats on the CLI

Re: F'n strange, Chase auto-CLI on Freedom

Anonymous — Tue, 25 Aug 2015 08:22:11 GMT

I had a Chase Freedom auto CLI ........ once. But like the wind that anomoly come and gone.

Congrats you though! Seems they love to see high utilization. If I remember correctly I put about $7K worth of tickets on a $9K CL, PIF after a few statements becasue I had intro 0% APR.

Re: F'n strange, Chase auto-CLI on Freedom

CreditCuriosity — Tue, 25 Aug 2015 11:51:03 GMT

Congrats.. Guessing they are figuring the 1k CL wasn't generous enough when you were at 87.5% utilzation and thus gave you the CLI.. Appears the only way is to run it up to near the CL with Chase to get any SP Auto CLI love.

I only put about 50-100 through my Freedom a month with a 1.5k limit unless it is Amazon or Grocery quarter then it might go up, so ya not exepecting for an auto cli on that ever.. Put about 1.5k-2k a month through CSP on 10k limit and I know I will never see a SP CLI on that either. Guess if the limits are good enough were you aren't bouncing near the CL they let them be.

Re: F'n strange, Chase auto-CLI on Freedom

Revelate — Tue, 25 Aug 2015 14:59:54 GMT

@ddemari wrote:
Congrats Revelate!!!! Maybe your two years of history and using the card helped them realize its time to bump up that credit limit. Although rare, some friends of mine have also experienced autoluv on chase freedom recently.

Oh interesting, I hadn't seen many examples at all lately or otherwise. Did they get posted here? Would be interested in seeing some comparisons of situations given how awkward Chase has been with CLI's over time... if they were I'll go searching as I just likely missed them.

Re: F'n strange, Chase auto-CLI on Freedom

Revelate — Tue, 25 Aug 2015 15:04:26 GMT

@Anonymous wrote:
I had a Chase Freedom auto CLI ........ once. But like the wind that anomoly come and gone.

Congrats you though! Seems they love to see high utilization. If I remember correctly I put about $7K worth of tickets on a $9K CL, PIF after a few statements becasue I had intro 0% APR.

Heh, well I wasn't expecting it and honestly didn't need it... didn't want it even, easier to hit 75% or 90+% on a 1K tradeline for testing haha .

Wonder if they'd let me trade that CLI for a IHG approval

Re: F'n strange, Chase auto-CLI on Freedom

Revelate — Tue, 25 Aug 2015 15:07:18 GMT

@CreditCuriousity wrote:
Congrats.. Guessing they are figuring the 1k CL wasn't generous enough when you were at 87.5% utilzation and thus gave you the CLI.. Appears the only way is to run it up to near the CL with Chase to get any SP Auto CLI love.

I only put about 50-100 through my Freedom a month with a 1.5k limit unless it is Amazon or Grocery quarter then it might go up, so ya not exepecting for an auto cli on that ever.. Put about 1.5k-2k a month through CSP on 10k limit and I know I will never see a SP CLI on that either. Guess if the limits are good enough were you aren't bouncing near the CL they let them be.

That's the only real thing I can think of, that plus the default purchase are really the only things that make sense to me. I once ran it up to near this before but I paid it immediately after statement cut... this one I let hang out two weeks trying to isolate something.

Re: F'n strange, Chase auto-CLI on Freedom

ddemari — Tue, 25 Aug 2015 15:08:50 GMT

@Revelate wrote:
@ddemari wrote:
Congrats Revelate!!!! Maybe your two years of history and using the card helped them realize its time to bump up that credit limit. Although rare, some friends of mine have also experienced autoluv on chase freedom recently.
Oh interesting, I hadn't seen many examples at all lately or otherwise. Did they get posted here? Would be interested in seeing some comparisons of situations given how awkward Chase has been with CLI's over time... if they were I'll go searching as I just likely missed them.

I have seen a few posters on here say they have seen some auto luve on Freedom, not a lot. But, last year when Chase ran the promo on freedom where card members got a 50 bonus for each person that signed up and got approved and that person got a 200 dollar bonus for spending 500 in 3 months.

I was able to get 4 peope to sign up. Each of the 4 people had very good to excellent credit. My BF who lives in Vermont, no prior relationship with chase and ficos in the high 790s- to 800 was approved for $4500.00 at 13.9%. She ran a lot through the card and made big payments every month. She saw auto-luv to $8000.00 and then again for $11,000.00 all within 8 months.

My mom banks with chase for ever, excellent credit. No Chase credit cards. Applied and was approved for $10,000.00. She was using it as main spend, within 6 months she was at $16,000.00. She never carries a balance even on 0% apr.

My sister approved for Freedom last November, Credit scores in the 750's. Approved for $6,000.00. Banks at chase and has an Old Slate Visa from 2010. At the 6 month mark, she was auto cli to $10,000.00.

My aunt, banks at chase. Has a Chase Disney Premiere Visa opened when it was first released. Has a lot of OLD credit cards, does not open many. 800 Ficos, approved for $15,000.00. Ran severl thousands through it as a main spend card, she saw auto luv at the 6 month mark, raised to $19,000.00.

All of these people did not open any other cards except for Freedom back in Nov. 2014. And before that, had not opened a CC in a while.

Re: F'n strange, Chase auto-CLI on Freedom

Anonymous — Tue, 25 Aug 2015 16:11:30 GMT

The last week or so has seen a big spree of CLIs from Chase on CSPs and Freedoms. My best guess is that they recently upgraded the economic factors in their risk models and are handing out CLIs to people who got lower limits than their personal risk factors "deserved" due to the previous economic factors.

Re: F'n strange, Chase auto-CLI on Freedom

CreditCuriosity — Tue, 25 Aug 2015 16:54:15 GMT

@Anonymous wrote:
The last week or so has seen a big spree of CLIs from Chase on CSPs and Freedoms. My best guess is that they recently upgraded the economic factors in their risk models and are handing out CLIs to people who got lower limits than their personal risk factors "deserved" due to the previous economic factors.

Markets have been tanking for the last week with exception of today and probably just a dead cat bouncing type of thing.. I think credit is going to be tougher to get in the near future and from what I have been reading.. Just my take, get it while it is still relatively easy. Economy is meh and dollar is decent, the market is a horrid place to be.. Be interesting to see how this plays out with lenders.

Re: F'n strange, Chase auto-CLI on Freedom

bodyboy1 — Tue, 25 Aug 2015 17:12:30 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
The last week or so has seen a big spree of CLIs from Chase on CSPs and Freedoms. My best guess is that they recently upgraded the economic factors in their risk models and are handing out CLIs to people who got lower limits than their personal risk factors "deserved" due to the previous economic factors.

Markets have been tanking for the last week with exception of today and probably just a dead cat bouncing type of thing.. I think credit is going to be tougher to get in the near future and from what I have been reading.. Just my take, get it while it is still relatively easy. Economy is meh and dollar is decent, the market is a horrid place to be.. Be interesting to see how this plays out with lenders.

> Correct! Yes! Abfab! > Onpoint > 100% True!

Re: F'n strange, Chase auto-CLI on Freedom

MissMoni223 — Tue, 25 Aug 2015 18:06:44 GMT

CONGRATS on your auto luv from Chase, that's GREAT to read!!!

Re: F'n strange, Chase auto-CLI on Freedom

Anonymous — Tue, 25 Aug 2015 18:16:34 GMT

Congrats on your CLI!!! Keep up the good work!!!

Re: F'n strange, Chase auto-CLI on Freedom

Anonymous — Tue, 25 Aug 2015 18:36:53 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
The last week or so has seen a big spree of CLIs from Chase on CSPs and Freedoms. My best guess is that they recently upgraded the economic factors in their risk models and are handing out CLIs to people who got lower limits than their personal risk factors "deserved" due to the previous economic factors.

Markets have been tanking for the last week with exception of today and probably just a dead cat bouncing type of thing.. I think credit is going to be tougher to get in the near future and from what I have been reading.. Just my take, get it while it is still relatively easy. Economy is meh and dollar is decent, the market is a horrid place to be.. Be interesting to see how this plays out with lenders.

The systemic risk affecting the stock market right now is not something I would tie to "credit tightening." This did happen in 2008 due to credit being too "loose." But this simply isn't the case right now. People with bad credit are still on the low end of approval frequency for mortgages (partly because they're unaware they qualify). Lenders still have the subprime market to tap back into. In this shaky domestic and global economy, the U.S. can't afford credit tightening at this point; the Fed probably won't even raise rates in the next few months due to market volatility and China...

Therefore, I don't think the general approval odds of unsecured credit cards will change materially in the near future.

Re: F'n strange, Chase auto-CLI on Freedom

CreditCuriosity — Tue, 25 Aug 2015 18:46:11 GMT

@Anonymous wrote:
@CreditCuriousity wrote:

Markets have been tanking for the last week with exception of today and probably just a dead cat bouncing type of thing.. I think credit is going to be tougher to get in the near future and from what I have been reading.. Just my take, get it while it is still relatively easy. Economy is meh and dollar is decent, the market is a horrid place to be.. Be interesting to see how this plays out with lenders.
The systemic risk affecting the stock market right now is not something I would tie to "credit tightening." This did happen in 2008 due to credit being too "loose." But this simply isn't the case right now. People with bad credit are still on the low end of approval frequency for mortgages (partly because they're unaware they qualify). Lenders still have the subprime market to tap back into. In this shaky domestic and global economy, the U.S. can't afford credit tightening at this point; the Fed probably won't even raise rates in the next few months due to market volatility and China...
Therefore, I don't think the general approval odds of unsecured credit cards will change materially in the near future.

We shall see, I don't think anyone knows.. I personally think the Fed should raise rates even tough the market is in the dumps along with China. The Feds should have nothing to do with the stock market, but they are making it their business which is bad policy IMO. Raise the rates as they have been basically nothing for 7-8 years and the market freaks out when a hint of talk about a rate hike is mentioned. There should be no correlation between the fed and the stock market IMO, but obviously the feds made it their business. Banks are definitely going to be watching their money a bit more closely regardless whether the fed raises the rates just like employers even though sitting on tons of profits are most likely not going to be hiring in great numbers either due to a shaky market/economy. It will be interesting to see how it plays out.

@relevate: Sorry, didn't mean to highjack your tread it just kinda flowed that way from someone elses comment.

Re: F'n strange, Chase auto-CLI on Freedom

Anonymous — Tue, 25 Aug 2015 20:01:14 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:

Markets have been tanking for the last week with exception of today and probably just a dead cat bouncing type of thing.. I think credit is going to be tougher to get in the near future and from what I have been reading.. Just my take, get it while it is still relatively easy. Economy is meh and dollar is decent, the market is a horrid place to be.. Be interesting to see how this plays out with lenders.
The systemic risk affecting the stock market right now is not something I would tie to "credit tightening." This did happen in 2008 due to credit being too "loose." But this simply isn't the case right now. People with bad credit are still on the low end of approval frequency for mortgages (partly because they're unaware they qualify). Lenders still have the subprime market to tap back into. In this shaky domestic and global economy, the U.S. can't afford credit tightening at this point; the Fed probably won't even raise rates in the next few months due to market volatility and China...
Therefore, I don't think the general approval odds of unsecured credit cards will change materially in the near future.
We shall see, I don't think anyone knows.. I personally think the Fed should raise rates even tough the market is in the dumps along with China. The Feds should have nothing to do with the stock market, but they are making it their business which is bad policy IMO. Raise the rates as they have been basically nothing for 7-8 years and the market freaks out when a hint of talk about a rate hike is mentioned. There should be no correlation between the fed and the stock market IMO, but obviously the feds made it their business. Banks are definitely going to be watching their money a bit more closely regardless whether the fed raises the rates just like employers even though sitting on tons of profits are most likely not going to be hiring in great numbers either due to a shaky market/economy. It will be interesting to see how it plays out.

@relevate: Sorry, didn't mean to highjack your tread it just kinda flowed that way from someone elses comment.

@relevate. Apologize as well. Congrats on the auto luv from Chase. I hope that happens with my CSP soon.

@Anonymous I agree. The fed has added a lot of noise and fluff to risk assets. The next 18 months will be interesting. I'll stop here to prevent further hijacking.

Feel free to PM if you want cc.