topic Re: Chase cli letter ... hp? in Credit Cards

Chase cli letter ... hp?

RootDet — Tue, 02 May 2023 10:46:20 GMT

The cli form popped up yesterday for the first time. I filled it out but got the delayed message. Today I got a digital letter that said I needed to unfreeze transunion and call in.

Feels like a HP is in the works. Any one else get the letter and still get a sp?

Re: Chase cli letter ... hp?

Jordan23ww — Tue, 02 May 2023 11:25:20 GMT

@RootDet wrote:
The cli form popped up yesterday for the first time. I filled it out but got the delayed message. Today I got a digital letter that said I needed to unfreeze transunion and call in.

Feels like a HP is in the works. Any one else get the letter and still get a sp?

For some reason although Chase limit increases are now soft pulls you still have to unfreeze your credit for them to do the soft pull. It's confusing but rest assured me and my wife did this 2 weeks ago, we both unfroze our profiles, got limit increases and no hard pulls. Afterwards we just froze our accounts again. Best wishes to you with your CLI request!

Re: Chase cli letter ... hp?

RootDet — Tue, 02 May 2023 14:02:45 GMT

I called. Was a sp. However no decision because I need a 2nd review which is required when your exposure is over 50k.

My current amazon is 35k plus 17.5 freedom. So that is 52k already. We will see what they say, they said up to a week.

Re: Chase cli letter ... hp?

Jordan23ww — Tue, 02 May 2023 20:40:21 GMT

@RootDet wrote:
I called. Was a sp. However no decision because I need a 2nd review which is required when your exposure is over 50k.

My current amazon is 35k plus 17.5 freedom. So that is 52k already. We will see what they say, they said up to a week.

@RootDet glad the soft pull went according to plan! Sending best wishes to you as they review your request! Hope you get some great news!

Re: Chase cli letter ... hp?

RootDet — Thu, 04 May 2023 19:20:26 GMT

and the outcome is ... drum roll ...

Chase Freedom - opened 2008, last cli ~2014-2015. was $17,500, now $50,000

Chase Amazon - opened 2015, last CLI ~2021/22 (during the chase amazon systemwide CLI's), was $35k, now $38.

I think the Freedom scared the 2nd level underwriters away. The guy suggested the Amazon card to go to $40k but i guess they did not agree.

That is a net gain of $35,500

Re: Chase cli letter ... hp?

ZackAttack — Thu, 04 May 2023 19:26:53 GMT

@RootDet wrote:
The cli form popped up yesterday for the first time. I filled it out but got the delayed message. Today I got a digital letter that said I needed to unfreeze transunion and call in.

Feels like a HP is in the works. Any one else get the letter and still get a sp?

I just got this letter on May 1. Yesterday I unforze my TU for about 15 days since I had no clue what would go on with the phone call.

So is this what you did, call the number on the letter -> press 1 (CLI/application) -> type in SSN -> then the robot said it went back to pending or did you end up calling a rep to make sure?

Re: Chase cli letter ... hp?

RootDet — Thu, 04 May 2023 19:31:37 GMT

I spoke to somebody (press 8 i think), and they transfer you like twice until they finally send you to the right place. I was directly told if your aggregate credit lines are above $50k, it will go for a 2nd review. Sounds like less than that, the underwriter you are talking to can decide right then and there.

Re: Chase cli letter ... hp?

ZackAttack — Thu, 04 May 2023 19:39:29 GMT

@RootDet wrote:
I spoke to somebody (press 8 i think), and they transfer you like twice until they finally send you to the right place. I was directly told if your aggregate credit lines are above $50k, it will go for a 2nd review. Sounds like less than that, the underwriter you are talking to can decide right then and there.

huh cause after I put in my SSN, the robot just says that it went into a pending state and will be notifed within 7-10 days.

Re: Chase cli letter ... hp?

coldfusion — Thu, 04 May 2023 20:23:55 GMT

@Jordan23ww wrote:
For some reason although Chase limit increases are now soft pulls you still have to unfreeze your credit for them to do the soft pull. It's confusing but rest assured me and my wife did this 2 weeks ago, we both unfroze our profiles, got limit increases and no hard pulls. Afterwards we just froze our accounts again. Best wishes to you with your CLI request!

It's because of what is known as "permissible purpose", which in laymans terms in this context essentially translates to the issuer only being legally allowed to pull locked or frozen reports for specific defined reasons. A soft pull of a locked or frozen report specifically to monitor the current credit health of an accountholder is a permissible purpose, whereas pulling an updated report, whether hard or soft, in in order to evaluate a request to extend (additional) credit is not.

Re: Chase cli letter ... hp?

MJ-san — Fri, 05 May 2023 08:25:16 GMT

I don't think 50k exposure for a review is a hard and fast rule. Never ever been able to get a CLI with Chase (20+ years) without a HP... went to the app again and this time it had an offer on my United Club card- ticked it and confirmed income/mortgage payment and got my first ever CLI of $7k to $42k. Sapphire Reserve is $24.5k and Freedom is $28.4k and no HP or review was needed. YMMV.

Re: Chase cli letter ... hp?

Jordan23ww — Fri, 05 May 2023 10:39:21 GMT

@RootDet wrote:
and the outcome is ... drum roll ...

Chase Freedom - opened 2008, last cli ~2014-2015. was $17,500, now $50,000
Chase Amazon - opened 2015, last CLI ~2021/22 (during the chase amazon systemwide CLI's), was $35k, now $38.

I think the Freedom scared the 2nd level underwriters away. The guy suggested the Amazon card to go to $40k but i guess they did not agree.

That is a net gain of $35,500

@RootDet a HUGE CONGRATULATIONS on your successful limit increases! Glad it all worked out for you!

Re: Chase cli letter ... hp?

Jordan23ww — Fri, 05 May 2023 10:42:22 GMT

@coldfusion wrote:
@Jordan23ww wrote:
For some reason although Chase limit increases are now soft pulls you still have to unfreeze your credit for them to do the soft pull. It's confusing but rest assured me and my wife did this 2 weeks ago, we both unfroze our profiles, got limit increases and no hard pulls. Afterwards we just froze our accounts again. Best wishes to you with your CLI request!
It's because of what is known as "permissible purpose", which in laymans terms in this context essentially translates to the issuer only being legally allowed to pull locked or frozen reports for specific defined reasons. A soft pull of a locked or frozen report specifically to monitor the current credit health of an accountholder is a permissible purpose, whereas pulling an updated report, whether hard or soft, in in order to evaluate a request to extend (additional) credit is not.

@coldfusion a oh ok, cool! Thank you for this information!