topic Re: Chase CLI in Credit Cards

Chase CLI

paydownin09 — Mon, 09 Feb 2009 13:22:49 GMT

I want to request a CLI from chase (currently a $1000 limit) but everytime I call they want to pull my credit score, so I ask them why can't they do it based on my payment and usage history (no baddies, pay over minimum, both 3 years running) I don't want to close this card because it is my oldest account. The only reason that thought came into my head is I have 25k in revolving credit available.

Does anyone know if they do a hard or soft pull? How much is too much to ask for on a CLI?

Thanks in advance for the help!

Re: Chase CLI

Anonymous — Mon, 09 Feb 2009 13:33:04 GMT

It's a hard pull every time. Chase is rough like that.

Re: Chase CLI

paydownin09 — Mon, 09 Feb 2009 13:46:09 GMT

Thanks Mike!

Is there some kind of unspoken limit to how much you should ask for?

I have another card (BoA) that has a 3k limit, so is asking Chase to match that out of the question? I dont plan on using that much, but I want it to bring my uti down more than anything.

Re: Chase CLI

MidnightVoice — Mon, 09 Feb 2009 13:47:05 GMT

Hard pull. The only time I did it I aked them to put it up near to my highest other CL, and they did

Re: Chase CLI

Anonymous — Mon, 09 Feb 2009 14:36:31 GMT

If you're at 1k with Chase and want a CLI (yes, it WILL be a hard pull), I would ask for about 5k. Chase will normally counter if you ask for too much.

Re: Chase CLI

Creditaddict — Mon, 09 Feb 2009 15:15:29 GMT

I agree with Fretless, ask for 5k if your current highest is 3k

Message Edited by Creditaddict on 02-09-2009 07:15 AM

Re: Chase CLI

oracles — Mon, 09 Feb 2009 16:49:56 GMT

In today's times, it is harder to receive a cli. Before you ask and take the hard inq and it will be a hard inq, you need to ask yourself these questions.

What is my util% currently? If it is too high, this is an automatic denied.

Have your reports improved and are there any recent baddies? Again a automatic denied if it has not improved or you have recent baddies.

Have you applied for a lot of recent credit? Do you have many inqs on your reports? Do you have a lot of new accounts on your report?

If all thing are fine then I would ask for 5k and if need be, do a recon.

Hope this helps and keep us updated

Re: Chase CLI

paydownin09 — Mon, 09 Feb 2009 17:06:00 GMT

My current util on that card is 55%... down from 100% on the last statement (total util is finally under 30%). I can pay down, if it will help. If so, should I go to 0% or keep in the standard 1-9% range?

My score has increased about 40 pts since last March (when I started caring about credit) and I'm sure that its much better then when I got the card 3 years ago. I've never had a baddie (my credit history is only 3 years though).

The last time I applied for credit was for my car loan in March of 08, which is the only inq on my report, and the only new account.

If the 55% util is too high, I'll get it down, otherwise I'll call today and certainly will update.

Re: Chase CLI

oracles — Mon, 09 Feb 2009 17:25:11 GMT

@paydownin09 wrote:
My current util on that card is 55%... down from 100% on the last statement (total util is finally under 30%). I can pay down, if it will help. If so, should I go to 0% or keep in the standard 1-9% range?

My score has increased about 40 pts since last March (when I started caring about credit) and I'm sure that its much better then when I got the card 3 years ago. I've never had a baddie (my credit history is only 3 years though).

The last time I applied for credit was for my car loan in March of 08, which is the only inq on my report, and the only new account.

If the 55% util is too high, I'll get it down, otherwise I'll call today and certainly will update.

always say, always put yourself in the best possible position for what you are trying to obtain.

I definitely would pay down your cc and overall util% limit so you have more cards in your back pocket to play with. If you have the means to pay it down, do it. 55% is a high util%.

As far as 0% vs 1-9%, if you mean individual credit card, pay it off. This will help and they will see that you know how to handle credit and have the means of paying it off. If you mean overall util% limit, then have 1 card report a balance from 1-9% and everything else reporting 0. This will maximize your fico score.

Hope this helps and keep us updated

Re: Chase CLI

Anonymous — Mon, 09 Feb 2009 19:10:23 GMT

I've had chase cc's for many years - and have never asked for a cli. They just do it automatically - every so often. One thing I have learned is that Chase likes to see you use the card a lot and then PIF.

If you really don't need the credit - leave it alone. Use it and pay it.

Re: Chase CLI

smallfry — Mon, 09 Feb 2009 21:34:56 GMT

cobra is one of the few people I have heard say they get auto CLI from Chase. I wouldn't even consider asking for a CLI with a balance on the card. IF you don't need the credit I would not even ask. Everyone is different but to be honest a hard pull should get you at least 10K extra available. To take a hit and only get a couple of thousand seems like a waste. What are your scores and utilization?

Re: Chase CLI

oracles — Mon, 09 Feb 2009 21:47:38 GMT

I understand what you are saying smallfry, however some people actually pay to get a credit limit increase.

you need to weigh out your options. If you can get an increase and it may cause you a hard inquiry, yes your score may decrease but it may be made up with util% decreasing due to the increase in available credit limit.

I think you should always put yourself in the best position possible.

A couple of thousand can mean a percentage point on a mortgage for some one.

you never know.

Re: Chase CLI

Anonymous — Tue, 10 Feb 2009 13:16:12 GMT

"a hard pull should get you at least 10K". I only WISH !!! I waste hards trying to get to 2K. Then again, I'm a rebuilder.

Re: Chase CLI

paydownin09 — Tue, 10 Feb 2009 15:44:41 GMT

I guess I dont NEED it, but I would like to get my util down some more. I'm currently running a total util of just over 30%. When I pay off the Chase this week, it will dip a little (2%). My TU was 685 in Nov-08 and my EQ was 689, but my util was at 40% when it was pulled 2 weeks ago. Also, this will only be my 2nd hit in the past 12 months, and the only other hit is coming off in March.

Re: Chase CLI

cobaltnv — Tue, 10 Feb 2009 15:57:07 GMT

If you are going to pay your utilization down to ~2% anyway, why bother with a CLI? I have had a chase card since 2000. I started with a CL of something like $7500 it is now at $24k. I have never asked for a cli. While they are not as regular as BoA at giving a few hundred every couple of months they do give auto CLI. At least I have gotten them. Unfortunately, as I do not follow my credit limits that carefully I cannot tell you under what circumstances I have obtained CLI.

After you pay off the card I would call Chase and say that you have been with them for 3 years (at least that is what it appears to be based on your OP). Just flat out ask if they offer auto CLI.

Good luck!