topic Re: chase cli question in Credit Cards

chase cli question

mfinsmi1 — Sun, 12 Feb 2023 22:24:02 GMT

Does 5/24 apply to credit limit requests? Im wondering if me being over 5/24 will result in an immediate denial if i request a hard pull cli

Re: chase cli question

OmarGB9 — Sun, 12 Feb 2023 22:25:48 GMT

I believe it impacts CLIs as well, yes.

Re: chase cli question

Jordan23ww — Mon, 13 Feb 2023 01:33:13 GMT

As far as I can tell being over 5/24 does affect limit increases. I don't know this for a fact, but I've heard that it does from people on various credit forums like this one. Also in the past 3 years that I was over 5/24 I have yet to get any automatic limit increases on my card or my wife's Amazon Prime card issued by Chase (even when so many others were getting automatically increased). I just recently dropped below 5/24 November 2022 so only time will tell.

Re: chase cli question

nytokyobred79 — Mon, 13 Feb 2023 03:34:43 GMT

I'd agree with what has been posted up above. There's definitely the possibility that it may be one of the reasons to deny a cli request initiated from your side. I'm not certain if high spending habits and profile can force the algorithm to do an auto-cli. There could be more potential there unless the 5/24 rule is embedded into the criteria for auto-cli's. I suppose you can test it out for science if you're ok with the hp. Otherwise, a sp cli offer may not come until you're under 5/24. I know that I haven't seen any for myself but then, I haven't been under 5/24 since the sp cli button appeared.

Good Luck regardless.

Re: chase cli question

Credit12Fico — Tue, 14 Feb 2023 00:49:32 GMT

I received an automatic CLI last month on a Chase card, while being above 5/24.

Re: chase cli question

nytokyobred79 — Tue, 14 Feb 2023 11:42:40 GMT

Oh, that's great. Awesome.
Had you been putting heavy spend over time or that particular month? Then pay a big chunk?

Re: chase cli question

mfinsmi1 — Tue, 14 Feb 2023 21:33:09 GMT

@Credit12Fico yes please inform us how ur spend was.... i recently put thru a promotional balance transfer to max out the card my plan is to let it post and pay it off when the statement cuts... hoping thatll push them to do an auto cli .. i would call and request it but im just afraid im gonna waste a bunch of hard pulls and itll be a waste of time sicne i have a bunch of new accounts in the past 2 years

Re: chase cli question

nytokyobred79 — Tue, 14 Feb 2023 23:24:43 GMT

Good luck with your BT and hopefully, it leads to a nice auto cli after you've paid it down. I'm doing something similar with BofA( not close to max'ing out the limit but I think I'll put about 50% of limit on the card, then pay). But I'm keen to see how your Chase experience goes 😀

Re: chase cli question

Credit12Fico — Wed, 15 Feb 2023 01:53:16 GMT

@mfinsmi1 wrote:
@Credit12Fico yes please inform us how ur spend was.... i recently put thru a promotional balance transfer to max out the card my plan is to let it post and pay it off when the statement cuts... hoping thatll push them to do an auto cli .. i would call and request it but im just afraid im gonna waste a bunch of hard pulls and itll be a waste of time sicne i have a bunch of new accounts in the past 2 years

The only thing that I did which was out of the ordinary was let a balance post on the statement in December. 35% of the credit line roughly. I normally always pay to 0 before the statement closes but my bill pay was late that month so it didn't make it in time. This card hadn't seen a CLI since 2018.

So then a month later, I got a notification in the app about the auto-cli, 5K increase.

Re: chase cli question

mfinsmi1 — Wed, 15 Feb 2023 02:13:22 GMT

@Credit12Fico im planning to follow your lead and let my balance post this month - wish me luck LOL

Re: chase cli question

nytokyobred79 — Wed, 15 Feb 2023 04:39:54 GMT

@mfinsmi1 Wishing you the best of luck. I literally just got 2 targeted BT offers from Chase but I've already moved my balances to BofA. I'd play the BT game moving the balances around were it not for fear of spooking Chase. Hah

@Credit12Fico Thanks for the dp's.

Re: chase cli question

nytokyobred79 — Fri, 24 Feb 2023 17:31:39 GMT

@mfinsmi1 wrote:
Does 5/24 apply to credit limit requests? Im wondering if me being over 5/24 will result in an immediate denial if i request a hard pull cli

Since this discussion, I was able to get 2 cli's( hp's) from Chase yesterday and today. I'm currently at 7/24, 5/12, 2/6. I don't know if the HP data they accessed show my 2 new accts but those accts showed up on my reports within 1.5 weeks. In any case, I think it's possible if you're not excessively over 5/24 and whatever your internal Chase score is as well. After my 2 fortunate successes, I'd say take the risk of the inquiry.

Re: chase cli question

Roisin — Fri, 24 Feb 2023 18:50:00 GMT

Hope this helps bring a little more light to his question: I'm a teacher so my income is not high, and when I apply for cards I don't include my husband's income which is considerably more than mine. I have a very short short credit history, and my scores are in the mid 700s. Last year, I applied for, and received, a new CFF in July. The card is my first relationship with JPMCB, and including our HELOC, the card put me at 5/24. SL was $8,100, which at the time was my second highest CL. Regardless, I added two more new CCs in October, Citi and Disco, both w/SLs that were less than the CFF. I spent fairly heavily, paid all the cards several times during a month, never had more than 30% on any card, in fact, I don't think I ever went over 20% on any of them. For sure, with the CFF I was always less than 20% and at one point spend was below 10%. Anyway, by the end of November, I'd received an auto CLI to $13,000. So for me, at least, 5/24 was not part of the CL equation.

Re: chase cli question

Roisin — Wed, 01 Mar 2023 02:28:22 GMT

Sorry, to be accurate, the CLI was $13,100.