topic Re: Found my Chase Internal Limit in Credit Cards

Found my Chase Internal Limit

Anonymous — Sat, 21 Nov 2015 01:51:27 GMT

Well, although the last thing I needed was yet another CC, I was getting such nice limits from Chase and app'd for the Southwest card. First was the IHG at $12k, then the Marriott with $16k, then the United for $25k. So I thought, "hmmm..."

Definitely was not an instant decision (none of them were). I waited and waited, and 2 weeks later I see the Southwest show up when I log into Chase. But for $2k... :/

The approval letter that came in the mail specifically says, "Your new card has been approved with an initial credit line of $2k. Since we know that it's important to have a credit line that meets your purchasing needs, you may be able to move or combine available credit from your other Chase cards to increase the credit line on this new card."

So.... they knew I generally spend a lot more than that on any given large limit card and are even suggesting I move around credit lines if I want to...

But... because it was only approved for $2k, it's a Visa Platinum, not a Visa Signature. Since this matters to me (mentally), if I were to decrease the giant United card and turn this Southwest card into a $5k card, would it change to a Signature, or will it forever remain a Platinum?

Re: Found my Chase Internal Limit

tntexans72 — Sat, 21 Nov 2015 01:54:45 GMT

Or maybe the 5/24 rule never less those are some nice trade lines with Chase.

Re: Found my Chase Internal Limit

Anonymous — Sat, 21 Nov 2015 01:58:44 GMT

I've gotten 90% of all my cards in the last 24 months... lol It definitely can't be that... haha

Re: Found my Chase Internal Limit

FinStar — Sat, 21 Nov 2015 02:04:40 GMT

Well, at least you found out what it was sooner than later! Keep in mind that the internal ceiling changes with your internal scoring over time in addition to your overall profile (since they SP your CRs) + income.

With regard to Visa Signature, you can reallocate CL from another card to CLI to $5K but you'd likely need to wait ~12 months before your card can be upgraded to Signature tier. So, no it won't remain forever as Platinum but you can check after 12 months to see if it qualifies to be upgraded.

Re: Found my Chase Internal Limit

Anonymous — Sat, 21 Nov 2015 02:07:57 GMT

Would you suggest I wait before making it at least $5k, or are you saying it won't matter? Maybe I'd get a CLI in a year and an upgrade?

Re: Found my Chase Internal Limit

FinStar — Sat, 21 Nov 2015 02:16:34 GMT

@Anonymous wrote:
Would you suggest I wait before making it at least $5k, or are you saying it won't matter? Maybe I'd get a CLI in a year and an upgrade?

There's really no guarantee that you'd get an auto-CLI coupled with an upgrade. Some cards get them, some don't. If it were me, given what you've shared and keeping your VS upgrade in mind, I'd do the reallocation now, then wait until about 12 months, use the card, and then contact them. At that point, check to see if the account is eligible, and if so, ta-da! Then, you can entertain a CLI, but it will be HP unless you've obtained another Chase card at that point in which case you can reallocate more CL to this one.

The thing about Chase, there is really no predictable behavior on when you'd be able to obtain an auto-CLI and even if that were the case, whether the auto-CLI is not high enough to push the upgrade. So, you can decide what options work best in your situation.

Re: Found my Chase Internal Limit

CreditUnionFan — Mon, 23 Nov 2015 04:22:55 GMT

@Anonymous wrote:
Well, although the last thing I needed was yet another CC, I was getting such nice limits from Chase and app'd for the Southwest card. First was the IHG at $12k, then the Marriott with $16k, then the United for $25k. So I thought, "hmmm..."

Definitely was not an instant decision (none of them were). I waited and waited, and 2 weeks later I see the Southwest show up when I log into Chase. But for $2k... :/

The approval letter that came in the mail specifically says, "Your new card has been approved with an initial credit line of $2k. Since we know that it's important to have a credit line that meets your purchasing needs, you may be able to move or combine available credit from your other Chase cards to increase the credit line on this new card."

So.... they knew I generally spend a lot more than that on any given large limit card and are even suggesting I move around credit lines if I want to...

But... because it was only approved for $2k, it's a Visa Platinum, not a Visa Signature. Since this matters to me (mentally), if I were to decrease the giant United card and turn this Southwest card into a $5k card, would it change to a Signature, or will it forever remain a Platinum?

You'd have to call Chase to ask them.

My Amazon Visa was upgraded to Signature, but I also have two Freedom Visas that have been CLI'd up to $10k each, but remain only Platinum, not Signature.

$55k is a nice internal limit though. Congrats!

Re: Found my Chase Internal Limit

Anonymous — Mon, 23 Nov 2015 04:38:30 GMT

@Anonymous wrote:
Well, although the last thing I needed was yet another CC, I was getting such nice limits from Chase and app'd for the Southwest card. First was the IHG at $12k, then the Marriott with $16k, then the United for $25k. So I thought, "hmmm..."

Definitely was not an instant decision (none of them were). I waited and waited, and 2 weeks later I see the Southwest show up when I log into Chase. But for $2k... :/

The approval letter that came in the mail specifically says, "Your new card has been approved with an initial credit line of $2k. Since we know that it's important to have a credit line that meets your purchasing needs, you may be able to move or combine available credit from your other Chase cards to increase the credit line on this new card."

So.... they knew I generally spend a lot more than that on any given large limit card and are even suggesting I move around credit lines if I want to...

But... because it was only approved for $2k, it's a Visa Platinum, not a Visa Signature. Since this matters to me (mentally), if I were to decrease the giant United card and turn this Southwest card into a $5k card, would it change to a Signature, or will it forever remain a Platinum?

Do Chase actually have internal limits, or is it just the analyst (or the underwriter) that was processing the appplication having a bad day?

Last summer I found out I ran out of available credit on my British Airways card at a retail store so I called immediately and asked for a limit increase. (Reluctant to use another card due to Avios ..) I was declined over the phone. Luckily the manager allowed me to split between Sapphire Preferred and BA (a customer in the line behind me that also seems to know credit cards called me "so uptight" and said I'm such a "loyal BA customer" lol)

Anyways, after less than a month I applied for the IHG card and was instantly approved for 25k .. at that time I have the Sapphire, BA, Ritz C, Southwest and Freedom. They're really hard to understand.

Re: Found my Chase Internal Limit

Anonymous — Mon, 23 Nov 2015 04:44:14 GMT

@Anonymous wrote:
@Anonymous wrote:
Well, although the last thing I needed was yet another CC, I was getting such nice limits from Chase and app'd for the Southwest card. First was the IHG at $12k, then the Marriott with $16k, then the United for $25k. So I thought, "hmmm..."

Definitely was not an instant decision (none of them were). I waited and waited, and 2 weeks later I see the Southwest show up when I log into Chase. But for $2k... :/

The approval letter that came in the mail specifically says, "Your new card has been approved with an initial credit line of $2k. Since we know that it's important to have a credit line that meets your purchasing needs, you may be able to move or combine available credit from your other Chase cards to increase the credit line on this new card."

So.... they knew I generally spend a lot more than that on any given large limit card and are even suggesting I move around credit lines if I want to...

But... because it was only approved for $2k, it's a Visa Platinum, not a Visa Signature. Since this matters to me (mentally), if I were to decrease the giant United card and turn this Southwest card into a $5k card, would it change to a Signature, or will it forever remain a Platinum?
Do Chase actually have internal limits, or is it just the analyst (or the underwriter) that was processing the appplication having a bad day?

Last summer I found out I ran out of available credit on my British Airways card at a retail store so I called immediately and asked for a limit increase. (Reluctant to use another card due to Avios ..) I was declined over the phone. Luckily the manager allowed me to split between Sapphire Preferred and BA (a customer in the line behind me that also seems to know credit cards called me "so uptight" and said I'm such a "loyal BA customer" lol)

Anyways, after less than a month I applied for the IHG card and was instantly approved for 25k .. at that time I have the Sapphire, BA, Ritz C, Southwest and Freedom. They're really hard to understand.

All credit card companies have internal limits on how much credit they will extend you based on your income and their internal assessments of your ability to repay cards. As FinStar noted, those limits can and do change over time based on multiple factors.

Re: Found my Chase Internal Limit

takeshi74 — Mon, 23 Nov 2015 14:00:08 GMT

@Anonymous wrote:
So.... they knew I generally spend a lot more than that on any given large limit card and are even suggesting I move around credit lines if I want to...

But... because it was only approved for $2k, it's a Visa Platinum, not a Visa Signature. Since this matters to me (mentally), if I were to decrease the giant United card and turn this Southwest card into a $5k card, would it change to a Signature, or will it forever remain a Platinum?

It's just standard text. Results on converting to Signature seem to be mixed. Some get converted, some do not. Why does the tier matter to you? I guess it may be easier to say this holding multiple Signatures but the tier doesn't matter to me. My biggest limit is on a Platinum. My most useful cards aren't determined by their tiers.

@Anonymous wrote:
Do Chase actually have internal limits, or is it just the analyst (or the underwriter) that was processing the appplication having a bad day?

All creditors have "internal limits" -- i.e what they're willing to extend to a given credit profile. No creditor will extend infiinite credit. Chase does as well. I had to reallocate to open my Freedom because I bumped into mine. In order to qualify for a CLI (or a card with X limit) there has to be sufficient headroom between your existing limits and the internal limit for your credit profile and income.

Re: Found my Chase Internal Limit

Anonymous — Mon, 23 Nov 2015 18:56:42 GMT

When I app'd for my Freedom, I got a $6k SL, but was sent the Platinum version. About a year and a half later and 1 CLI, it was automatically upgraded to Signature.

Re: Found my Chase Internal Limit

jgodfrey82 — Tue, 24 Nov 2015 05:30:15 GMT

So does anyone know if chase includes business and personal cards in their internal limits? I have 90% of my personal and businezs banking, mortgage and until this year only a 6k united personal card. This year I got both ink cards totaling 40k starting limits. I then apped for slate to combine personal and get rid of the United AF. I was approved but only for $500 and they specifically asked if I wanted to move my united limit. I moved the max allowed and closed the united. The only personal I have is the slate with the same 6k my united had since 2011. So strange they give me 40k in biz cards and only 6k in personal.

Re: Found my Chase Internal Limit

CreditUnionFan — Tue, 24 Nov 2015 11:58:21 GMT

@jgodfrey82 wrote:
So does anyone know if chase includes business and personal cards in their internal limits? I have 90% of my personal and businezs banking, mortgage and until this year only a 6k united personal card. This year I got both ink cards totaling 40k starting limits. I then apped for slate to combine personal and get rid of the United AF. I was approved but only for $500 and they specifically asked if I wanted to move my united limit. I moved the max allowed and closed the united. The only personal I have is the slate with the same 6k my united had since 2011. So strange they give me 40k in biz cards and only 6k in personal.

Yes, personal and business (that you've PG'd) is included in your internal limit with Chase.

Re: Found my Chase Internal Limit

Anonymous — Tue, 24 Nov 2015 13:45:27 GMT

As far as upgrading to a signature card you will have to wait a year for a product change like that to happen, same thing happened to me with my freedom card i was given 4K had an auto cli to 5K 4months later but not eligible for a year from when i had the card to ask for a siggy.