topic Re: Chase is such a pleasure! in Credit Cards

Chase is such a pleasure!

laboi_22 — Tue, 13 Sep 2011 00:00:37 GMT

I say that with sarcasm! I inquired about a CLI. I've had the card since July (Freedom) It has a 1000 CL. BofA converted me to signature so I wanted them to match my BofA line of 5000 so as not to hurt my UTL. My credit score is 709 FICO EQ. I called to recon because of course they declined. I got declined on the recon not ever for a 500 increase. They are saying that I have to many new accounts opened this year and they don't see enought history yet to see how I'm going to handle my recent credit that is extended. OMG how long with I have a 1000 CL with them? BofA increased my 1000 to 5000 after 4 months. I don't get it. I keep my balances low, always PIF, never late, not one single baddie on my CR. I have 2 mortgages and make 80,000 a year. A paid off never late car note and a current car note. She said I had 7 inquires I said well yeah I have 7 new credit card accounts!! Somebody tell me it gets better.

On a lighter note, after I hung up with Chase I called Orchard to cancel my account and I swear I spoke with the same Mod cut woman named Bonnie. I think they answer for multiple ccc's. Also I couldn't get my AF fee waived of $59 so I closed. I was hoping to leave open since it's my oldest account but they would not waive the AF. Wondering how everyone else was able to get it waived. Did Bonnie recognize me form Chase?

Edited to remove an unnecessary reference to a nationality.

MarineVietVet, myFICO moderator

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 00:43:01 GMT

@laboi_22 wrote:
OMG how long with I have a 1000 CL with them?

They like you. I have been stuck at $900 for years now. By far my lowest CL.

Re: Chase is such a pleasure!

AndySoCal — Tue, 13 Sep 2011 02:13:58 GMT

You say have been with them since July I presume 2011 not enough payment history with them. The concern is what you might do with all that new credit. Some people go and run up a signifigant amount of debt and then cannot pay it and filing BK. Creditors like Chase are being very conservative in the environment. I have been with Chase for 5 years no CLI's and I have higher FICO scores.

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 02:22:26 GMT

You've had the card, at maximum, 73 days. Of course they're going to deny you a CLI.

Re: Chase is such a pleasure!

laboi_22 — Tue, 13 Sep 2011 02:32:49 GMT

Maybe asking for a CLI with such a new account is unreasonable but I'd say a 1000 CL is unreasonable especially when other CCC's offer higher and are much more flexible. Can't use that CL much or it will push you UTL up too much so I'll just sock drawer it and use my AMEX and BofA. Seems as if, according to the previous poster, even after 5 years I'll still be touting my little 1000 CL even though all my other CL's are considerably higher.

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 02:35:43 GMT

I've had the Chase Amazon card since July of LAST year. I still have the same original $1000 limit that I got initially, not even a single dollar increase. Always paid my bill off, and credit scores in the high 740s.

I'm done using the card, and they are done getting my business. Even my brand new AmEx has a $2,000 limit and I have no history with them, and my BoA card is $4000.

Re: Chase is such a pleasure!

laboi_22 — Tue, 13 Sep 2011 03:00:30 GMT

I know it's all very frustrating

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 03:15:58 GMT

BoA gave you a CLI from $1k to $5k after 4 months, but Chase is supposed to give you a CLI after ~2 months? Also, util is only reported if you don't pay by the day the statement cuts. So, you could charge $1k/$1k and pay it so that 0% util gets reported.

I guess I don't understand the logic behind one lender giving you X, so a completely different lender should give you something equivalent to X.

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 03:51:37 GMT

well not to ruffle but lets also look at that you do have two mortgages and a car so when combined with the other cc debt maybe its debt to income. 80k is nice but it isnt all about scores these days with lenders. While the noose is slightly looser than it has been they are still being cautious and asking the right questions in my opinion.

Take a deep breathe, work that card a little and I say you see a nice CL sooner than you expect

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 03:56:42 GMT

@aleicgrant wrote:
well not to ruffle but lets also look at that you do have two mortgages and a car so when combined with the other cc debt maybe its debt to income. 80k is nice but it isnt all about scores these days with lenders. While the noose is slightly looser than it has been they are still being cautious and asking the right questions in my opinion.

Take a deep breathe, work that card a little and I say you see a nice CL sooner than you expect

Keep in mind that Chase saw this:

7 new CC, 2 mortgages, car payment, and an almost immediate CLI request.

And might have thought this:

Person who needs CCs to stay afloat because of three large monthly payments.

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 04:04:39 GMT

On one hand, it makes sense that they make their own decisions to protect themselves.

On the other hand, if you have a great credit score, a strong credit history, and strong credit usage with said company and it's paid off all the time.... for over a year... you'ld think they'd go "Hmm... maybe the other compabies giving higher credit have a point".

Silly for a company to think I'd want to hurt my credit rating by using their card with a lower limit when I can use another card with a higher limit, who doesn't treat me as an undue credit risk.

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 04:07:14 GMT

and at the end of the day who knows what goes through the banks mind and how they rationalize.

I hope the OP just works the system and gets his just desserts soon which I am sure will happen

Re: Chase is such a pleasure!

MidnightVoice — Tue, 13 Sep 2011 15:00:10 GMT

Chase has never been good to me with CLIs, but then I have never been very good to them as I hardly use their card, so I have no complaints (It is my family emergency card for DW and DD). And the only time I had a disputed transaction they were VERY helpful

Re: Chase is such a pleasure!

Anonymous — Tue, 13 Sep 2011 16:56:59 GMT

@AndySoCal wrote:
You say have been with them since July I presume 2011 not enough payment history with them. The concern is what you might do with all that new credit. Some people go and run up a signifigant amount of debt and then cannot pay it and filing BK. Creditors like Chase are being very conservative in the environment. I have been with Chase for 5 years no CLI's and I have higher FICO scores.

Same here have been a good customer for mre than 5 years but no CLI. So far this is my lowest CL.

Re: Chase is such a pleasure!

CreditAble — Wed, 14 Sep 2011 01:03:51 GMT

@laboi_22 wrote:

Maybe asking for a CLI with such a new account is unreasonable but I'd say a 1000 CL is unreasonable especially when other CCC's offer higher and are much more flexible. Can't use that CL much or it will push you UTL up too much so I'll just sock drawer it and use my AMEX and BofA. Seems as if, according to the previous poster, even after 5 years I'll still be touting my little 1000 CL even though all my other CL's are considerably higher.

I was able to get some great credit limits from Chase, and others.

You mentioned that using a 1,000 limit card would push your utility up too much. It will not be a factor if you pay all of your accounts in full each month. If you do revolve balances, the banks consider that debt. The banks do not have to make it easier to carry more debt by accommodating CLI requests just to help utility. I have however successfully used "utility" as a reason to have credit limits increased.

If a person revolves debt on CCs, the banks don't want to raise limits to help a credit score. The banks want to see a score go up by paying down debt.

If there is no debt, then one can try to play the utility gambit.

If you carry no debt, charging $400 on a $1,000 credit card will not hurt the Fico score that much. If you have charged at least $400 (less than %50 utility) on the Chase card by now, I agree that you should go ahead and sock drawer the card for now.

1. If you have not used it $400 worth, (If I were in your position) I would go ahead and use the card up to $400 and let the balance post to your reports. I would pay all other cards before statement drop while taking this first step. I would pay off Chase in full the day after the statement posts. I would then sock drawer the Chase card until I can increase my odds of being approved for a CLI.

2. I would then charge no more than 50% utility on one of my other higher limit cards and let that amount post, after the Chase Card posts $0.

3. Over time I would use the other credit cards depending upon individual limits and on my monthly spending amounts.

4. All banks would know that I frequently pay in full before statement drops. The banks therefore can assume that I spend a lot (unknown amount) on their competitors cards. The banks would not be able to determine my true usage on competitor's cards since only $0 balances are reported.

5. When building my credit scores and credit limits, I always tried to "show them the money". I never let chump change balances report. I would always only let one balance from one card report with a reasonable amount of charges.

6. If you would like to try my method, Chase will "see the money" you are spending elsewhere. You will be preparing Chase for a credit card limit increase approval in the future.

7. Once I was able to routinely (month after month) show everyone the money that I was spending on other cards, I actual had called Chase and told the rep that I hadn't been using the card at all since my BoA and another credit card had higher limits. I stated that I hadn't wanted to use more than 40% of my line of credit since I am very protective of my credit scores. That's when the utility argument actually was accepted. I had already proved that I wasn't using the Chase card because of its low limit. I had showed Chase that I was using my highest limit card the most.

I explained that I wanted to use my Chase card because I liked the features, interest rate, customer service, or how pretty it was... whatever. BUT I had not used the Chase card because the Credit Limit was too low.

8. Chase upped my limit. I started using Chase up to 40% of the new limit and sock drawered the other cards.

9. After a few months I called BoA. Yup you guessed it "Second verse, same as the first" .

10. I sang that same old song for a couple of years. Rinse Repeat Rinse Repeat....

My point is that one can simply wait patiently and let the credit limit increases come naturally over time, or one can help motivate the banks a little bit. Nowhere is it written that one bank must do something just because another bank does it.

In the real world greedy people are motivated to take action when they see others getting money that they could have had. I am not saying that banks are greedy They did seem to treat me better after I was able to "show them the money" that could have been theirs if only a credit card limit had been higher.

Chase has actually become one of my best credit card relationships, although years ago I hadn't thought much of the bank. I had gotten much more favorable treatment from others. Eventually Chase started making me all kinds of offers and wanted to be my best banking friend.

I wish you the best, but I wouldn't be too angry with Chase. I would encourage you to give the credit building process some time.

Re: Chase is such a pleasure!

score_building — Wed, 14 Sep 2011 08:46:47 GMT

Recently, after pulling hard, Chase denied my 1st CLI request on moderately used 3k (c. 4 yr old) AMZN visa

then a few days later granted a 5 figure CL on a new Chase card app based on identical report info.

In any case, kudos to the well conceived PP from CreditAble.

Re: Chase is such a pleasure!

Anonymous — Wed, 14 Sep 2011 09:44:02 GMT

I'd likely say "no" to someone requesting a CLI after two months, as well. As an Officer of the bank I work for, I have the ability to submit CLI requests directly to internal underwriting, and negotiate them if turned down, etc, (if I have time and feel like it), but if someone came to me after being approved 2 months prior, with a lower limit (meaning either insufficient credit history or average credit rating), I'd not even give the option to apply (I'm not required to, before someone jumps on me saying I'm refusing service. =P ). I'd refer them to the number on the back of the card, who would likely tell them the same thing.

That's my bitter opinion, however, from within the industry. Trust me, for 1 person complaining here, there seems to be, oh, I don't know, another trillion more to follow.

Edit: And no, I'm not going to take CLI requests for any of you, either.

Re: Chase is such a pleasure!

Anonymous — Wed, 14 Sep 2011 16:21:54 GMT

The simplest lesson is not to take business decisions (the CC companies) personally. They do not know me and are simply using risk factors to determine what is in THEIR best interest. I'm not courting them I'm just doing business with them. If at some point in our business relationship I determine it's not in MY best interest to continue I can cancel. There are plenty of offers out there. My credit score and profile are important but it's not the whole of my life. (Just an awful OBSESSION the last few years)

Re: Chase is such a pleasure!

Kay_Cee — Wed, 14 Sep 2011 16:37:31 GMT

For what it's worth...

I had a Chase Slate Mastercard with a $8,000 limit, which I opened in December of 2008. It was converted to a Freedom card in February of this year and I added my son as an authorized user. The card had been used for small purchases and always paid in full. I requested a CLI increase when the card converted and was declined. My son uses it for business expenses and uses it heavily. After three months of large charges and large payments (but not always in full) they raised the CL automatically from $8,000 to $11.500.

Use the card wisely and they will reward you with higher credit limits.

Re: Chase is such a pleasure!

tntexans72 — Wed, 14 Sep 2011 17:14:45 GMT

For what it's worth, I'll add my .02. I had the Chase Slate card since 1999. I had 1 CLI since than. I asked for that CLI back in 2005. Logged into my Chase account back in 2008 and it stated I was approved for a Chase Freedom. I clicked accept and bam! approved for a healthy CL. Requested a CLI in 2010 for my Chase Freedom and declined. I apped for a Chase Sapphire Preferred a few months ago and Bam! Was approved and they match my Chase Freedom & Chase Slate CL.

What's funny is,,,Chase may not give CLI on a reg. basis on their current cards, but you are allow to have up to 7 cards with them. Makes no sense that they wouldn't give you a CLI on your current cards, but will approved you for their other cards. Again...YMMV.

I am happy with Chase and their rewards CCs are awesome! Alot of ppl are upset because they don't get their ways with Chase. They are a conservative lender and in due time, you will get what you ask for.