topic Re: Chase is so stingy ! in Credit Cards

Chase is so stingy !

PRILEY — Mon, 20 Jun 2016 17:48:31 GMT

I got a chase slate a few years ago. 5k limit, still a 5k limit. Income is very good, Recently Citi gave me a whopping 2k to 11k, BoA just gave me a 3k increase to 21k , Discover a 7k increase to 25k, Personal AMEX Blue is at 30k and NFCU just jumped me to 50k. Why is Chase so stingy? I do get the free FICO score with them, They say it's 840 ! Although I get a fico score with BoA,AMEX,Discover and Citi too. I don't get it with Chase.

Re: Chase is so stingy !

p- — Mon, 20 Jun 2016 18:00:44 GMT

I had to accept a hard pull to raise my Chase, nearly every time.

Re: Chase is so stingy !

Anonymous — Mon, 20 Jun 2016 19:10:56 GMT

@PRILEY wrote:
I got a chase slate a few years ago. 5k limit, still a 5k limit. Income is very good, Recently Citi gave me a whopping 2k to 11k, BoA just gave me a 3k increase to 21k , Discover a 7k increase to 25k, Personal AMEX Blue is at 30k and NFCU just jumped me to 50k. Why is Chase so stingy? I do get the free FICO score with them, They say it's 840 ! Although I get a fico score with BoA,AMEX,Discover and Citi too. I don't get it with Chase.

If you haven't, perhaps you should show at least 30% usuage on the card each month for a few months. My guess is if you don't use their card, there is no reason to CLI.

Re: Chase is so stingy !

Anonymous — Mon, 20 Jun 2016 19:12:56 GMT

@p- wrote:
I had to accept a hard pull to raise my Chase, nearly every time.

I randomly ran into one of your threads years ago where a few people remarked that 10,000 total credit limit was too low. You have come a long ways!

Re: Chase is so stingy !

p- — Mon, 20 Jun 2016 19:13:41 GMT

@Anonymous wrote:
@p- wrote:
I had to accept a hard pull to raise my Chase, nearly every time.
I randomly ran into one of your threads years ago where a few people remarked that 10,000 total credit limit was too low. You have come a long ways!

Yeah, a lot has changed since then.

Re: Chase is so stingy !

RonM21 — Mon, 20 Jun 2016 20:58:10 GMT

It's hard to get the reasoning sometimes of any lender's decision making. For whatever reason, they aren't budging. I wouldn't worry about it too much.

Re: Chase is so stingy !

p- — Mon, 20 Jun 2016 22:24:30 GMT

Chase has been weird. I had to go the exec route to get my Freedom changed to a Signature, and they consistently lagged behind Cap1 in credit limits. Then, when my scores were over 800 suddenly they were happy to give me a bump up to 20k on the Freedom, and gave me instant approval on the Vader card for 25k soon after.

I think it helps that I use it a lot and PIF every month. A few years ago I called a credit analyst at their recon line when they denied me for a CLI, and she was very forthcoming about why and what they looked for. She mentioned it was a positivbe that I PIF every month, despite what I've heard about card companies prefering us to carry balances so that they can earn interest. The thing that kept me from the increase back then was too much recent credit. She said that if a person has a lot of new credit, or credit increases, Chase prefers to wait and see how they handle it before jumping in with a higher limit. She suggested I let it age to 6 months or a year, and try again. She was right.

In retrospect, what she said makes sense. Chase wants to see a long history of responsible credit use before they are willing to risk a high limit. They don't seem willing to hand out a lot of small increases like CAp1, but when they finally do, it's a good bump.

Re: Chase is so stingy !

driftless — Mon, 20 Jun 2016 22:50:15 GMT

Correct me if I am wrong, but I don't recall many, if any threads, of Slate accounts having CLI. CSP and Freedom yes, Slate no. I think that p- is right, Chase will treat you right but ONLY after you have earned it. With Chase there also seems to be a strong correlation between scores and files and SL's. Looking at some of the info CK about CSP, having a FICO score above 750 is needed to get the above $10K CL's.

Re: Chase is so stingy !

Anonymous — Mon, 20 Jun 2016 23:22:32 GMT

@p- wrote:
Then, when my scores were over 800 suddenly they were happy to give me a bump up to 20k on the Freedom, and gave me instant approval on the Vader card for 25k soon after.

How long did it take you get a 800 score? I still remember that post of yours where you had a total of $10,000 CL some 8 years ago. I assume you probably started your credit building around then? I have a AAoA of one year and FICO 08 730-745 now from what Citi, Discover and American Express says.

Re: Chase is so stingy !

Anonymous — Tue, 21 Jun 2016 00:43:49 GMT

OP, how many dollars are your running through your Chase card every month and are you paying it in full?

Re: Chase is so stingy !

Anonymous — Tue, 21 Jun 2016 10:08:38 GMT

Good thread....
Sounds like the sock drawer for my slate and it's 2,000 cl !
The kicker is that I applied hoping to BT
more than that.

Re: Chase is so stingy !

PRILEY — Tue, 21 Jun 2016 10:54:32 GMT

The only reason I got a slate card was the balance transfer. That was really the only perk. I was planning on transfering around 13k. When I got approved for 5k i almost said stick it but since it was a hard pull I didn't and I put 4k on it and paid it off. I have a better limit at Home Depot, pretty sad.

Re: Chase is so stingy !

Anonymous — Tue, 21 Jun 2016 11:53:51 GMT

Maybe I'm not understanding you correctly. So you got the card a few years ago, immediately put $4k on it and paid it off, but haven't used it since? If that's the case, I can understand why you haven't received a CLI if you haven't used the card in over a year?

Re: Chase is so stingy !

driftless — Tue, 21 Jun 2016 12:00:09 GMT

Having 13K in cc debt probably was a negative to Chase as well.

Re: Chase is so stingy !

Revelate — Tue, 21 Jun 2016 14:38:49 GMT

Chase historically has always kinda sucked regarding CLI's.

For years we held the mantra: if you want more credit from Chase, apply for another card. If you want a CLI, apply for another card, and then transfer the limit. If you were going to take the HP anyway...

That's sorta taken a hit after the 5/24 rule went into effect, but it may still hold. I don't ask for CLI's from Chase (and to be fair I utterly don't need them) though I've gotten a pair of auto CLI's in the past year on my Freedom (1k -> 2K -> 4K), and I did get a CLI on my Ink (5K -> 6.5K) previously... compared to what, 66K on 3 cards that I've picked up since then?

Re: Chase is so stingy !

PRILEY — Tue, 21 Jun 2016 16:47:07 GMT

I dont need it either. I have charged small things on slate and paid them off. Like I said the only thing i get from the slate card is a fico score (840) When I had 13k in debt I was at 9% uti. Heck with them. I don't need Chase.

Re: Chase is so stingy !

Anonymous — Tue, 21 Jun 2016 20:56:45 GMT

Charging "small things" and paying them off likely isn't going to get you a CLI; CC issuers like to see pretty solid if not heavy usage, otherwise there isn't much reason or incentive for them to give out a CLI.

Re: Chase is so stingy !

PRILEY — Wed, 22 Jun 2016 01:20:23 GMT

Whatever.

Re: Chase is so stingy !

Anonymous — Wed, 22 Jun 2016 02:35:35 GMT

@PRILEY wrote:
Whatever.

Just being honest with you here. I'm just letting you know that if you want a CLI you should try for a month or two to use the card heavily... up to maybe 50% of it's limit but PIF. That would give them incentive to grant you the CLI that you're looking for. Do what you will.

Re: Chase is so stingy !

PRILEY — Wed, 22 Jun 2016 10:35:55 GMT

How heavy can you use a 5k card ( That has no perks) Miles, Points Etc. I have high limit cards that give me something back. I bought wifes Caddy on Amex Gold. Lots of points. Spend 30k plus on credit cards and pay them off with points. I get nothing with the slate card. I may as well use a debit card. All I'm saying is why is the limit so low. They see the limits I have on other cards. They also know my credit score (840) They sent it to me. Its buisness, you have to be competitive if you want the buisness.