topic Re: Chase CLI??? in Credit Cards

Chase CLI - Options/Recommendations?

Anonymous — Wed, 13 Jun 2018 03:09:07 GMT

I have a Chase Freedom with a limit of $6,400

My spouse has CSP/CFU (limited credit, low income, she is under 21 and can't use my income on apps yet) however I am AU on them. She got her CFU (2,500) in December of 2017 and her CSP (5,100)in April of 2018.

For those that are curious... she only had one other CC in her name prior to those two apps. It was a Discover IT Student with a $5,500 limit that she got in July of 2016. Her scores were 750ish at the time. No derogs. AU on a few of my cards though. Reported 15k annual income (part time employee, full time student) on both apps. CFU was instant approval, CSP went to review before approval. Did not call/message about app. She may be an outlier, but figured I'd supply that for those of you who may be interested in her acquisition. We do not have any joint cards, just individuals with each other as AU.

The reason she applied for CSP and not me, is for the bonus. I'd already received it myself back in summer of 2017 and was denied on a CSP app in my "Your Offers" with green check due to having simply received a bonus on sapphire product in the last 24 months. I attempted a recon, but they were firm on that for the reasoning. I think I'd applied just after the change and not been aware of it.

Anywho. Back to my original question... haha. I was thinking of converting my Freedom to a CSR, but wasn't sure what route I should go in terms of getting limit up to the 10k.

A) request CLI? (this card was approved at 6,100 and I took a HP for CLI a few months later after receiving SUB and was granted $300 to go to 6,400 woohoo)

B) apply for a non 5/24 card and hope for a $4,100 or higher limit to transfer 3,600 over to my card?

If I go with B, should I be concerned with AA from Chase for transferring limits too quickly upon receiving the approval/card....?

Thank you

Re: Chase CLI???

FinStar — Tue, 12 Jun 2018 21:57:13 GMT

So, do you already have the CSP (non-AU)? You mentioned that you'd already received the bonus in the last 24 months. If so, what's the CL on that?

Re: Chase CLI???

Anonymous — Tue, 12 Jun 2018 22:03:13 GMT

@FinStar wrote:
So, do you already have the CSP (non-AU)? You mentioned that you'd already received the bonus in the last 24 months. If so, what's the CL on that?

Sorry, forgot to include that detail in the original post...

This Chase Freedom was my CSP.

I app'd CSP in March of 2017 with a 6,100 limit. Received/redeemed SUB. Took HP in August for a handy-dandy $300 increase to the CSP. Then I PC'd the account to a Freedom a few months later.

At the time, I'd just gotten the CSP for the bonus for the cash-value since we were shoveling money at some debt and had some organic spend that would meet the SUB so it was nice to have that $500 to shovel at our relatively small debt of about 4k which we recently knocked out back in February.

Re: Chase CLI???

Anonymous — Tue, 12 Jun 2018 22:09:52 GMT

What are YOUR credit scores and utilization (individual and aggregate)?

Re: Chase CLI???

FinStar — Tue, 12 Jun 2018 22:53:52 GMT

So, potentially, are you open to obtaining a new card (as a donor card if anything - limited usage), then reallocate CL to Freedom? Keeping the AAoA and HPs mind. SL =TBD.

Or, do you feel your profile is pretty strong to get approved for a CLI?

Of course, depending on the outcome, you'll likely need to upgrade the Freedom > CSP. Then, once you have the adequate CL, upgrade to CSR.

Re: Chase CLI???

Anonymous — Tue, 12 Jun 2018 23:41:08 GMT

***Somewhat long response detailing scores/utilization

Scores:

TU Fico 08 - 777 as of 06/05/18 per Discover credit card FICO score online

Experian Fico 08 - 765 as of 06/09/18 per Discover's "credit scorecard" website.

Overall utilization per those two states that it is 2% overall. $1,936/96,400

Using CK TU for the utilization info below to save some time. I listed my AU cards separately in the bottom. For the cards that have a balance, I put the individual utilization in parentheses beside the balance/limit.

Each individual card:

creditor

balance/limit

mm/yyyy (date opened)

WEOKIE FCU (local)

0/10,000

11/2015

Discover IT

0/6,600

03/2016

Capital One QS

656/12,000 (5%)

06/2016

AmEx BCE

0/1,300

02/2017

Chase Freedom (approved as CSP, PC'd to Freedom)

0/6,400

03/2017

Citi DoubleCash

0/6,500

03/2017

USBank Cash+

0/0 (closed 05/2018)

03/2017

Marvel MC

0/0 (closed 05/2018)

03/2017

Bank of the West CashBack MC

0/4,000

10/2017

AmEx EDP

873/25,000 (3%)

12/2017

PenFed PCR

272/3,000 (9%)

03/2018

AU Accounts:

Discover IT (father)

0/14,000

10/1990

Chase Freedom Unlimited (wife)

0/2,500

12/2017

Chase Sapphire Preferred (wife)

135/5,100 (3%)

04/2018

Re: Chase CLI???

Anonymous — Tue, 12 Jun 2018 23:38:04 GMT

@FinStar wrote:
So, potentially, are you open to obtaining a new card (as a donor card if anything - limited usage), then reallocate CL to Freedom? Keeping the AAoA and HPs mind. SL =TBD.

Or, do you feel your profile is pretty strong to get approved for a CLI?

Of course, depending on the outcome, you'll likely need to upgrade the Freedom > CSP. Then, once you have the adequate CL, upgrade to CSR.

TU/Experian scores listed in above response detailing scores/utilization.

I don't mind the donor card and HP/AAoA ding. My only concern with that would actually be related to possible AA from Chase for almost immediately transferring 90% of the limit over, assuming it is enough to get me to that 10k threshold.

As for thinking whether a HP can get me a CLI is what I'd like to get info from you all on. My last HP only netted me $300 increase last year around this time (granted, I only had the card for a few months). I wasn't sure if it'd be likely for me to get a $3,600 increase from Chase via CLI, as it seems they're pretty stingy when it comes to straight-up CLI.

Re: Chase CLI???

Anonymous — Wed, 13 Jun 2018 15:03:53 GMT

With regards to the above info... if I were to apply for a new card as a donor, it'd need to be one that is not affected by 5/24.

Of the cards that aren't affected, and don't have an AF for the purpose of SD, which may be the most likely for a halfway decent SL? My profile/stats/info is listed above.

I was probably thinking of doing the Amazon card. I don't currently have Amazon prime, but it could be beneficial to simply have in my portfolio if I ever did sign up.

Any ideas/guesses as to my best bet being to app for Amazon (or other card, if so then which?) as a donor, simply ask for CLI, or ask for CLI *and* app for donor card shortly after?

Again, only question regarding a donor card would be if anybody has experienced Chase AA for transferring limits too quickly upon approval from their "donor card"?

Thank you,

Re: Chase CLI???

FinStar — Wed, 13 Jun 2018 15:10:57 GMT

If you were to apply, and say the (donor) CC is approved, how quickly are you looking into reallocating?

I'd say to avoid any type of scrutiny, if you're approved for a decent SL, just reallocate the necessary limit to Freedom and leave the rest on the donor CC. Down the road, if you're not using the donor CC, then transfer/consolidate the rest and close it IMO.

Re: Chase CLI???

Anonymous — Wed, 13 Jun 2018 16:22:50 GMT

Ideally, I'd like to do it within a month to at least PC to the CSR.

Initially, just enough to get the PC to CSR is totally fine. As I have to be approved for enough to begin with. I believe that'd have to be at least a $4,100 approval because Chase requires you to keep at least $500 on donor card, correct?

Does anybody have information as to whether or not I might be likely to get something like that as a minimum SL on the Chase Amazon card? Or if I'd be better off applying for one of the other non 5/24 cards for a decent SL?

In addition to above info in other posts. I don't have any lates and no derogs on any CBRs.

I understand it's likely a YMMV situation, but just curious if any has DPs (personal or general info from others) that they can share on what they may know about the non 5/24 cards and possible SLs.

My statement date is tomorrow for all 3 of my Chase cards. They'll probably cut with the following statement balances

Chase Freedom - 76.14/6,400 (2%)

Chase Freedom Unlimited (AU) - 203.63/2,500 (9%)

Chase Sapphire Preferred (AU) - 628.24/5,100 (13%)

I assume it'd be best to pay those off after officially posting and let Chase update 0% to all CBRs before applying? So, probably submit payment for full statement balance on 06/15/2018 and probably app the new card on 06/20/2018 so there is time for the CBR update? Or would it be better to apply with the small balances...?

If everything works out... thenI'd end up doing musical PCs between my CF and my wife's CFU/CSP so that we have a more usable limit on the FU.

CF > CSR

CFU > CF

CSP > CFU

Re: Chase CLI???

Anonymous — Thu, 14 Jun 2018 13:41:51 GMT

Update regarding info above:

I called in this morning on my way to work, asked the CSR if there was anything that they might need to verify for my application. She transferred me to a "lending specialist" and he simply sent me a text to verify my identity. After that, he stated that the app hadn't been reviewed yet but he went ahead and did it for me while I was on the line. A few moments later, he stated that the app had been approved with a $6,100 SL. I logged into my Chase account shortly after that and the card is already showing in my Chase account with the $6,100 limit.

Re: Chase CLI???

FinStar — Thu, 14 Jun 2018 18:50:41 GMT

Sounds like a winner to me! Depending on the "spacing" on how many Chase CCs you've been approved in the past 6-12 months, I'd use a cautious approach to partially reallocate within 30 days.

If you don't foresee using the Amazon CC in ~4 months then close/combine. Realizing that Chase can be known to monitor things, plus YEMV, I typically approach it more conservatively so as not to draw unnecessary attention. Just my .02¢

Re: Chase CLI???

Anonymous — Thu, 14 Jun 2018 20:05:38 GMT

@FinStar wrote:
Sounds like a winner to me! Depending on the "spacing" on how many Chase CCs you've been approved in the past 6-12 months, I'd use a cautious approach to partially reallocate within 30 days.

If you don't foresee using the Amazon CC in ~4 months then close/combine. Realizing that Chase can be known to monitor things, plus YEMV, I typically approach it more conservatively so as not to draw unnecessary attention. Just my .02¢

As far as my personal account/SSN approvals and history, my only Chase CC approval has been the Chase Sapphire Preferred (currently Freedom) in 03/2017. That was PC'd from CSP to CFreedom around 08/17.

My wife was approved (individual approval/account, with me as an AU) for CFU in 12/17 and CSP 04/18. But, I don't think that'd spook/affect anything with me, as my personal approvals and relationship with Chase has just been that one card, up until now.

I maybe kinda sorta jumped the gun (before seeing your post) and already partially reallocated $3,600 to the Freedom and had it PC'd to the CSReserve. As far as my account goes, currently, I have only the following with Chase (as my personal accounts).

Chase Sapphire Reserve 10k

Chase Amazon 2.5k

I did not close the Amazon, nor do I intend to. I plan on using it here and there occasionally, as I'm kind of getting my feet wet with the online shopping thing... I've always preferred brick and mortar retail and talking to people in person. I'm kind of an oddball when it comes to my generation (22y/o). Also because it may be useful in the future as Amazon seems to be "taking over" anyways. Granted, people used to worry about Walmart in a similar way that people now worry about Amazon. I digress...

I guess at this point it's just a fingers crossed scenario that nothing happens.