topic Re: Chase credit card limit maximums - reduce? in Credit Cards

Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 03:00:26 GMT

Quick Chase question for you gurus out there...

I'm pretty highly exposed with Chase right now- $20K on my Freedom and $60K on my CSR for an total of $80K. I get a feeling I'm pushing pretty close to my hard maximum with Chase if I'm not already there. I'm considering applying for another Chase card sometime in 2017 (either the Hyatt, Marriott, or United depending on the signup bonuses) and want to make sure I get approved.

How should I handle this to make sure I get approved for a card? Would it be a better strategy to call into Chase and drop the limit on my CSR, and app for the new card online? Should I simply fire off the app online and call in to recon if they decline me, and offer to lower the limit on my other cards? Maybe I can apply with the rep over the phone and do everything at once?

Would appreciate any advice from those who have been in a similar experience... thanks in advance!

Re: Chase credit card limit maximums - reduce?

willwar14 — Fri, 30 Dec 2016 03:09:03 GMT

My dad is at 97k and we're pretty sure he was just denied for a 4th card (has 97k between 3 cards). He got a call this morning from Lending asking if he would feel comfortable moving some of the credit from the other cards, he declined and he was told it was going to be recommended for a 10k approval and within the last hour it turned to the 7-10 day message.. from my experience they will call you if they don't want to extend more credit, and just move some around..

Re: Chase credit card limit maximums - reduce?

driftless — Fri, 30 Dec 2016 03:40:43 GMT

I think that part of it depends on whether you have a banking or investment relationship with Chase, and, if so, what assets the system can add to your profile. If you do have a banking relationship with Chase I would talk to your Chase banker. Otherwise, I would just apply and recon and move later.

O.P. - how much of you CSR's 60K CL was the SL and how much was moved from other card(s) or CLI? Your CSR CL is 2 - 3x your other limits

Re: Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 03:48:51 GMT

Thanks for the data points!

Driftless- I was approved for 34K SL and moved over the rest from my Freedom which was itself combined with another card I had closed out. I've never received nor asked for a CLI with Chase ever.

Re: Chase credit card limit maximums - reduce?

willwar14 — Fri, 30 Dec 2016 03:56:07 GMT

You were able to combine into a 60k card? Did you have to take a hard pull (I've seen a few places mention anything over 35k will require a HP)?

Whatever happens with his latest applications he is still planning to consolidate everything into a $90k+ CL.

Re: Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 03:58:44 GMT

Nope no hard pull to combine to the 60K

Re: Chase credit card limit maximums - reduce?

driftless — Fri, 30 Dec 2016 03:58:49 GMT

That is what I thought, $35K seems to be the soft top unless there is a very profitable relationship or there is a move. FWIW - my CSR was approved at 10K online prior to roll out, at 3 mos they bumped it to 35K and I just moved over my CSP into it so we are similarly situated.

Again, I would not reduce but apply and then move if needed. Good luck.

Re: Chase credit card limit maximums - reduce?

iced — Fri, 30 Dec 2016 04:00:02 GMT

I wouldn't worry about overexposure on Chase. The worst that would happen is they'll ask you to move some limit from the CSR or another card over to a new card.

Re: Chase credit card limit maximums - reduce?

iced — Fri, 30 Dec 2016 04:01:39 GMT

@willwar14 wrote:
You were able to combine into a 60k card? Did you have to take a hard pull (I've seen a few places mention anything over 35k will require a HP)?

Whatever happens with his latest applications he is still planning to consolidate everything into a $90k+ CL.

I've combined with Chase to make cards with limits over 35k on two occasions. No hard pull either time.

Re: Chase credit card limit maximums - reduce?

driftless — Fri, 30 Dec 2016 04:03:30 GMT

@willwar14 wrote:
You were able to combine into a 60k card? Did you have to take a hard pull (I've seen a few places mention anything over 35k will require a HP)?

Whatever happens with his latest applications he is still planning to consolidate everything into a $90k+ CL.

Wow, I would be interested in hearing the outcome of this. If you don't mind my asking, what is Dad's scores, income, assets, and, relationship with Chase?

Re: Chase credit card limit maximums - reduce?

awp317 — Fri, 30 Dec 2016 21:44:05 GMT

If your a private client with chase they give you the world. I got my CSR well over 5/24 and limits extended to me on all my chase cards are far more than I will ever need, but im not going to say no as you never know when you might need it. I applied for my hyatt fully expecting to need to shift some CL over, and they approved me for 30k. Then a week later upped the limit on my CSR. So I think as the economy improves (Mod cut-No form of politics can be posted on myFico not even this, thanks for understanding) people/lenders are feeling a bit more relaxed again.

Re: Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 12:52:35 GMT

Very nice! I'm not a CPC (don't even have a Chase branch in my state) but must be nice to be one...

Re: Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 19:14:12 GMT

From what I read, it sounds like you should apply for the card, and if denied, call recon and offer to move some of the CSR high limit over to the new card if approved.

Re: Chase credit card limit maximums - reduce?

Anonymous — Fri, 30 Dec 2016 20:55:29 GMT

Two occassions where it makes sense to CLD before applying:

1) Don't want eyes on the account: This is the case where you are doing MS, transfering points in a way not blessed by Chase etc. Maximize the chance for auto-approval.

2) Don't like recon (or feel you aren't good about it). Recons aren't certain, and if you want to avoid the pain....