topic Re: Advice on CSP Limit Growth in Credit Cards

Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 03:14:25 GMT

I was approved a few days ago for the CSP with a starting limit of $8k. I've heard Chase is stingy with CLI, and that they are typically HPs. I spoke to a rep that said they sent out soft pull pre qualify CLI emails for good cardholders.

Is this true? Has anyone experienced growth in their CSP over time beyond their starting limit without consolidating limits or using multiple HPs?

Re: Advice on CSP Limit Growth

Skye12329 — Thu, 06 Aug 2015 03:32:52 GMT

I know its rare but yes they do send out that rare email for SP CLI. It's basically asking for an update on income.

My CSP hasn't budged, only my freedom did, they can be stingy when it comes to asking for an increase, but I think they give oht decent starting limits once your in with them.

Re: Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 03:38:08 GMT

Thanks for the feedback Skye. So does that mean the CLI SP emails are income based instead of activity / good card user based? And if that's true, does that mean they won't give you a SP CLI after they send the email if your income isn't higher than when you applied?

I'm very happy with my SL. It's my first prime card in almost a decade and my highest SL in my life even before I ruined my credit seven years ago.

Re: Advice on CSP Limit Growth

jamesdwi — Thu, 06 Aug 2015 03:45:21 GMT

@Anonymous wrote:
I was approved a few days ago for the CSP with a starting limit of $8k. I've heard Chase is stingy with CLI, and that they are typically HPs. I spoke to a rep that said they sent out soft pull pre qualify CLI emails for good cardholders.

Is this true? Has anyone experienced growth in their CSP over time beyond their starting limit without consolidating limits or using multiple HPs?

the only people i know who got those letters are ones that charge alot, carry balances (paying lots of interest) and make large payments but continue to use the card hold, with no derogs on there credit file of any kind.

Re: Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 03:48:34 GMT

Ahh I see. I won't rely on it. I have the Amazon card with a $2k limit. I could consolidate, putting my CSP at $10k, but I'll hold off to see if I can get a CLI first with the card before consolidating it.

Re: Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 06:52:36 GMT

@Anonymous wrote:
Ahh I see. I won't rely on it. I have the Amazon card with a $2k limit. I could consolidate, putting my CSP at $10k, but I'll hold off to see if I can get a CLI first with the card before consolidating it.

Sadly the most reliable CLI method for any Chase card is apping for a new card you don't care to keep long term, shifting all but the minimum limit to the old card, holding the new card for a year or So, and closing it. Obviously don't do this often.

Re: Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 11:36:20 GMT

Would a HP CLI just the same you think?

Re: Advice on CSP Limit Growth

kdm31091 — Thu, 06 Aug 2015 11:51:46 GMT

Save yourself a headache and just resign yourself that generally Chase just isnt big on CLIs. Rarely, people will get auto CLIs but otherwise, requests are a HP and not really worth it in many cases as they often result in tiny increases.

With Chase, what you start with is pretty much what you are going to have most of the time. They dont tend to "grow with you".

Re: Advice on CSP Limit Growth

takeshi74 — Thu, 06 Aug 2015 13:02:59 GMT

CLI's all depend on one's credit and income versus the creditor's underwriting critieria. It's not simply a matter of "stinginess", "generosity", "love" etc. I haven't received any CLI's on my CSP but that's because my 4 Chase card limits put me at my internal limit (found by bumping into it when opening the 4th card which required reallocation) so I have no headroom for CLI's until my profile changes sufficiently for Chase's requirements. That said, there are certainly those who have received CLI's from Chase. My wife has received several.

@Anonymous wrote:
So does that mean the CLI SP emails are income based instead of activity / good card user based?

All CLI's with all creditors are based on one's credit and income. People here tend to rely far too much on activity IMO. Activity can play a role in some cases but it will not overrule one's credit and income.

@jamesdwi wrote:
the only people i know who got those letters are ones that charge alot, carry balances (paying lots of interest) and make large payments but continue to use the card hold, with no derogs on there credit file of any kind.

Be careful assuming trends based on "people I know" as that's rarely a suitable sample size. One does not need to carry balances for a CLI.

Re: Advice on CSP Limit Growth

Anonymous — Thu, 06 Aug 2015 14:09:00 GMT

@takeshi74 wrote:
CLI's all depend on one's credit and income versus the creditor's underwriting critieria. It's not simply a matter of "stinginess", "generosity", "love" etc. I haven't received any CLI's on my CSP but that's because my 4 Chase card limits put me at my internal limit (found by bumping into it when opening the 4th card which required reallocation) so I have no headroom for CLI's until my profile changes sufficiently for Chase's requirements. That said, there are certainly those who have received CLI's from Chase. My wife has received several.

@Anonymous wrote:
So does that mean the CLI SP emails are income based instead of activity / good card user based?
All CLI's with all creditors are based on one's credit and income. People here tend to rely far too much on activity IMO. Activity can play a role in some cases but it will not overrule one's credit and income.

@jamesdwi wrote:
the only people i know who got those letters are ones that charge alot, carry balances (paying lots of interest) and make large payments but continue to use the card hold, with no derogs on there credit file of any kind.
Be careful assuming trends based on "people I know" as that's rarely a suitable sample size. One does not need to carry balances for a CLI.

I understand underwriting criteria for lenders. I know people with comparable income to mine that received a higher SL. So my SL, which I'm fine with, was tempered by my credit profile. So that's why I think something like good activity could boost my internal score and offer a chance at an auto CLI since I haven't hit the "ceiling" with Chase as far as income is concerned. Continued good activity would assume my credit profile improves over time also. So given these factors, I'm hoping the card can grow some with me over the next 24 months, given my income grows every year and my credit profile improves.

I'd hope this growth comes from a couple SP CLI. We'll just have to see. Worse case can consolidate my Amazon Chase with my CSP.