topic Re: Chase is so wacky... in Credit Cards

Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 04:13:10 GMT

Just a bit of a rant here, so take it for what it is. But I just don’t get Chase. I have a Freedom card, my oldest credit card, that has had the same $3k SL it came with. Wife gets auto-CLI’s with hers a lot. I mean, A LOT. Anyway, I went for the CLI and was denied, 750-ish scores across all three. Too many inquiries (3 at the time within 12 months, zero within six). Anyway, I ended up getting a Freedom Unlimited (8.3k), Sapphire Reserve (23.6k) and Amazon Prime (8.3k) for a total credit line of $40,200, in addition to the $3k Freedom card. Does that make any sense? 😂 Things to ponder, I suppose.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 04:50:18 GMT

Are you using your CF a "lot" like your wife?

@Anonymous wrote:
Just a bit of a rant here, so take it for what it is. But I just don’t get Chase. I have a Freedom card, my oldest credit card, that has had the same $3k SL it came with. Wife gets auto-CLI’s with hers a lot. I mean, A LOT. Anyway, I went for the CLI and was denied, 750-ish scores across all three. Too many inquiries (3 at the time within 12 months, zero within six). Anyway, I ended up getting a Freedom Unlimited (8.3k), Sapphire Reserve (23.6k) and Amazon Prime (8.3k) for a total credit line of $40,200, in addition to the $3k Freedom card. Does that make any sense? 😂 Things to ponder, I suppose.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 05:00:13 GMT

Yeah, pretty much. We both max out 5% categories each quarter.

Re: Chase is so wacky...

adelphi_sky — Fri, 19 Oct 2018 14:37:26 GMT

Yeah. That doesn't make sense. You can ask to move some limits around. Seems odd that they would give you so much credit on other cards and keep your Freedom limit low. I don't know. Credit limit methodology seems to be all over the place with credit card companies. I remember getting the AMEX Magnet card with a SUB to spend $3000 in three months and they gave me a $2000 limit. At the time, I had 4 other cards with them with 0% utilization. I had to call them to ask them to move some limits around to get the limit up to $7500. Which was fine because I didn't use my Blue Cash Everyday card that much.

Re: Chase is so wacky...

K-in-Boston — Fri, 19 Oct 2018 15:25:31 GMT

It doesn't make sense, but it makes sense for Chase. New Years Eve a few years ago, I called ask asked for a CLI on my Freedom card which was about a decade old with a low $4200 limit ($1200 moved to it from a closed Slate account) and had never seen a CLI. Denied. As soon as I hung up the phone, I "rage apped" for a Chase Sapphire Preferred (now CSR) and I was instantly approved for $12,000 with the lowest APR available, then apped for a new Slate card (now closed) a few months later and was also approved with the lowest APR available.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 16:48:06 GMT

"Rage apped" needs to be added to the official credit game lexicon immediately. Some powerful person please make it so.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 16:58:14 GMT

I've put a ridiculous amount of spend on my Chase Amazon CC and they have never given me a CLI. Blows my mind as well..

Re: Chase is so wacky...

zerofire — Fri, 19 Oct 2018 17:55:13 GMT

@Anonymous wrote:
"Rage apped" needs to be added to the official credit game lexicon immediately. Some powerful person please make it so.

Nice. Totally agree since I have rage apped in the past too. Even did it on my last spree.

Sometimes Chase will bucket you into a limit for that specific card. My first Chase Freedom which I recently got had a whopper of a $19,200 credit line. The limit will not make sense and the only real way out is to either transfer credit around or to have a perfect report. If they cannot find a reason to deny then they have to approve right? Lastly as a $3,000 Freedom card it is probably a problem that any increase will send you past $5000 and into Signature territory. A Visa Signature card will at times have a minimum credit score before a bank will be comfortable issuing it or you might be stuck out of that level.

Re: Chase is so wacky...

xaximus — Fri, 19 Oct 2018 19:49:16 GMT

I've had the same issue with Chase, I had one of their cards that I got approved for 10 years ago for $500 limit, but with much lower scores. If I remember correctly, I was in the low to mid 600's if that. As I have worked to clear up my credit and scores have gone up, I requested a CLI and got denied. Funny enough, I "rage apped" as well and got the SW card and Slate for BT about 2-3 years ago. Both were approved for both at 3k-3.5k each. It made no sense then and still doesn't but from DPs I have seen here, it looks like Chase has an algorithm that locks a CC in a bucket. It doesn't matter how much usage happens, how old, etc. Only way to raise it is to either move CL from one card to another or pray to the Credit gods that they override and give you a CLI.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 20:04:36 GMT

I ended up moving some limit from my Prime card to the Freedom card since I get more use from the Freedom. Well, that may not be true. Seems I get a new package at the door at least every other day. 🤔 sometimes it’s stuff I dont remember ordering.

Re: Chase is so wacky...

Anonymous — Fri, 19 Oct 2018 20:51:51 GMT

It's possible that Chase really, really, really likes you paying interest (while also showing good credit usage behavior, but that's a given). Got one of their cards 3 years ago with a $2K SL and within a span of maybe 9 months it was at $10K, entirely with auto-CLI's. The card was literally at 100% util during the first year due to a BT, and I wasn't able to pay it off before interest started kicking in. But Chase seemed to really like that, and I got pretty big auto CLI's like clockwork every few months. Once I paid off the balance and stopped paying interest on new purchases though, no more CLIs (it's been over a year). My spending habits on the card didn't change at all. In contrast, I have another card from them that's over 11 years old, and it's never gotten a CLI (but it did get a CLD during the recession).

Just a data point among many, so read into it what you will. Obviously too many variables for me to be able to say for sure that paying interest was 100% the reason for my auto-CLI's, but my gut tells me that's it. As good as PIF'ing is for your own finances and scores, it's the people who pay interest on their cards that make the revolving credit world go 'round (no pun intended).

Re: Chase is so wacky...

zerofire — Fri, 19 Oct 2018 22:50:12 GMT

Can I borrow that pun? I want to use it whenever I need to explain grace periods.

Re: Chase is so wacky...

Anonymous — Sat, 20 Oct 2018 03:29:16 GMT

Chase is crazy. I legitimately think that individual analysts have a ton of leeway to decide approvals and limits and it leads to inconsistent data points