topic Re: CSP, highest % limit increase in Credit Cards

CSP, highest % limit increase UPDATE

gen-specific — Mon, 17 Jun 2013 00:19:23 GMT

hey guys, I got CSP and it has one of my lowest limits. I want to make it my main card but its annoying to have a limit this low.

what is the highest % limit increase you've seen on this card.

in contrast, with AMEX cards, the 3x CLI is a 300% increase.

on some VISA cards I've seen people go from 2k to 10k which is a 500% increase

let me stop beating around the bush, I want to go from a 6k limit to like 35k, I expect to be countered, then I expect to get a recon and maybe get a few extra K limit.

is this possible? have stranger things happened?

UPDATE:

will most likely be approved for $27.5k limit. (denied, recon'd, counteroffered, approved... pending senior analyst signoff)

UPDATE UPDATE:

credit limit is now $25k online. 4.16x increase, I am very content with the outcome.

Re: CSP, highest % limit increase

jsickz32 — Wed, 15 May 2013 12:49:08 GMT

If your income supports that kind of CL and everything else in your profile looks good then i dont see why you cant ask for whatever amount you want.

Re: CSP, highest % limit increase

gen-specific — Wed, 15 May 2013 12:52:37 GMT

@jsickz32 wrote:
If your income supports that kind of CL and everything else in your profile looks good then i dont see why you cant ask for whatever amount you want.

great, I just haven't dealt with Chase before as an institution. Some places like capital one are not really generous. where others like Citi are super generous and just don't really seem to care about risk.

Re: CSP, highest % limit increase

Anonymous — Wed, 15 May 2013 12:53:40 GMT

How old is the account? You can ask for 35K but I would be surprised if Chase goes anywhere near that when your highest reporting is 24.9K. If your card is really new, I'd be surprised if you even get to 20K.

Re: CSP, highest % limit increase

CreditScholar — Wed, 15 May 2013 13:01:22 GMT

I highly doubt you'd get anything near 35k. You'd be more likely to get something like 15k, 18-20k if you're extremely lucky.

Re: CSP, highest % limit increase

FinStar — Wed, 15 May 2013 13:49:56 GMT

@CreditScholar wrote:
I highly doubt you'd get anything near 35k. You'd be more likely to get something like 15k, 18-20k if you're extremely lucky.

Re: CSP, highest % limit increase

Anonymous — Wed, 15 May 2013 14:18:03 GMT

Why the impatience? You could easily go from your 6k limit to 12k-15k in 6 months. wait another 6-9 months and get to 25k. From there, do you really need more? silly question, of course, everyone does.

Patience and a little bit of time will get you where you want to be.

Re: CSP, highest % limit increase

Anonymous — Wed, 15 May 2013 19:11:23 GMT

Mine went from 5k to 15k after 6 months without me even asking.one day I logged in and there was a weird vertical line in front of the 5 in my 5k limit. I didn't complain.

Re: CSP, highest % limit increase

KIPPIE12 — Wed, 15 May 2013 19:17:12 GMT

Chase auto cli'd my CSP several weeks back from 8k to 12.1k out of the blue. I am thrilled at the 50% auto cli, and couple weeks later, an auto cli on Freedom by 25%

Re: CSP, highest % limit increase

armbenderc — Wed, 15 May 2013 21:01:39 GMT

I want auto cli on my 6k CSP. Just opened this month. Hopefully at 4-6 month mark

Re: CSP, highest % limit increase

Anonymous — Wed, 15 May 2013 21:44:13 GMT

If you have the income to support it and your file isn't thin, chase can be really generous with CLI.

Re: CSP, highest % limit increase

gen-specific — Thu, 16 May 2013 01:21:27 GMT

@Anonymous wrote:
If you have the income to support it and your file isn't thin, chase can be really generous with CLI.

thanks for all the replies guys, this was very helpful

Re: CSP, highest % limit increase

gen-specific — Thu, 16 May 2013 01:23:55 GMT

@Anonymous wrote:
How old is the account? You can ask for 35K but I would be surprised if Chase goes anywhere near that when your highest reporting is 24.9K. If your card is really new, I'd be surprised if you even get to 20K.

Exactly, I have a plan for that too.

I am going to CLI that 24.9k Citi card, then I am going to CLI another Citi card that currently has a 7k limit, then I am going to transfer the limit of the 7k card to the 24.9k card so I have a card with a much higher reporting limit. thats the whole reason I opened the second citi card lol, so I am letting it age a little bit

Then Chase will be more inclined to give me a higher CLI too! (unless their risk model then flags me for having too much available credit to income)

Re: CSP, highest % limit increase

indiolatino61 — Thu, 16 May 2013 01:39:24 GMT

@gen-specific wrote:
hey guys, I got CSP and it has one of my lowest limits. I want to make it my main card but its annoying to have a limit this low.

what is the highest % limit increase you've seen on this card.

in contrast, with AMEX cards, the 3x CLI is a 300% increase.

on some VISA cards I've seen people go from 2k to 10k which is a 500% increase

let me stop beating around the bush, I want to go from a 6k limit to like 35k, I expect to be countered, then I expect to get a recon and maybe get a few extra K limit.

is this possible? have stranger things happened?

$6K to $35K is quite a leap...! That's almost 600%. Good luck to you, but that seems an almost impossible feat.

Re: CSP, highest % limit increase

Anonymous — Thu, 16 May 2013 02:07:18 GMT

to OP:
It is going to be very hard to transfer CLs between different cards for Citi. I don't know if it's their internal policies, or their crappy CSRs just make it hard for anyone to do anything.

How long have you had the CSP for?
How long is your banking relationship with Chase?

My uncle had a Wells Fargo card for over 15 years that he used religiously. The CL they gave him was appropriate for his CS, CR and income at that time. During the past 15 years he never asked for a CLI, and had some auto but very infrequent auto CLIs. He got by the low CL by PIF several times a month. Finally asked for a CLI after much persuassion, and had his limit go up by over 4x with just 1 HP. Of course, his income is at least 15 times higher than what it was.

Re: CSP, highest % limit increase

navigatethis12 — Thu, 16 May 2013 02:11:46 GMT

@gen-specific wrote:
Exactly, I have a plan for that too.

I am going to CLI that 24.9k Citi card, then I am going to CLI another Citi card that currently has a 7k limit, then I am going to transfer the limit of the 7k card to the 24.9k card so I have a card with a much higher reporting limit.

I just went through this and it will not work. I got increases on two cards and realised I should have asked for more on the other card. I had a manager process it and was told they cannot move the limits around because I just got an increase. To them, reallocation is a credit limit increase and they only allow that every six months. I also asked retention and she said the same thing, but offered me 10,000 Thank You Points for 3,000 spending in six months.

Re: CSP, highest % limit increase

gen-specific — Thu, 16 May 2013 03:33:02 GMT

@navigatethis12 wrote:
@gen-specific wrote:
Exactly, I have a plan for that too.

I am going to CLI that 24.9k Citi card, then I am going to CLI another Citi card that currently has a 7k limit, then I am going to transfer the limit of the 7k card to the 24.9k card so I have a card with a much higher reporting limit.

I just went through this and it will not work. I got increases on two cards and realised I should have asked for more on the other card. I had a manager process it and was told they cannot move the limits around because I just got an increase. To them, reallocation is a credit limit increase and they only allow that every six months. I also asked retention and she said the same thing, but offered me 10,000 Thank You Points for 3,000 spending in six months.

INTERESTING

you did this with citi?

Re: CSP, highest % limit increase

gen-specific — Thu, 16 May 2013 03:35:40 GMT

@Anonymous wrote:
to OP:
It is going to be very hard to transfer CLs between different cards for Citi. I don't know if it's their internal policies, or their crappy CSRs just make it hard for anyone to do anything.

How long have you had the CSP for?
How long is your banking relationship with Chase?

My uncle had a Wells Fargo card for over 15 years that he used religiously. The CL they gave him was appropriate for his CS, CR and income at that time. During the past 15 years he never asked for a CLI, and had some auto but very infrequent auto CLIs. He got by the low CL by PIF several times a month. Finally asked for a CLI after much persuassion, and had his limit go up by over 4x with just 1 HP. Of course, his income is at least 15 times higher than what it was.

Thanks, I've only had the CSP for less than 3 months, I am consider on doing a CLI after I get my promotional reward points at the end of 3 months, on the citi card with 24.9k I will be doing CLI in june too

but I am in the garden right now so it depends on what my credit scores come back as, and weighing pros and cons of more hard inquiries sitting on my report for the next 20 months

so I am weighing decisions

Re: CSP, highest % limit increase

navigatethis12 — Thu, 16 May 2013 03:40:26 GMT

@gen-specific wrote:
@navigatethis12 wrote:
@gen-specific wrote:
Exactly, I have a plan for that too.

I am going to CLI that 24.9k Citi card, then I am going to CLI another Citi card that currently has a 7k limit, then I am going to transfer the limit of the 7k card to the 24.9k card so I have a card with a much higher reporting limit.

I just went through this and it will not work. I got increases on two cards and realised I should have asked for more on the other card. I had a manager process it and was told they cannot move the limits around because I just got an increase. To them, reallocation is a credit limit increase and they only allow that every six months. I also asked retention and she said the same thing, but offered me 10,000 Thank You Points for 3,000 spending in six months.
INTERESTING

you did this with citi?

Yes. You could try asking for supervisors or the executive office probably, but I didn't really feel like going through it all. I'll just wait until November.

Re: CSP, highest % limit increase

Anonymous — Thu, 16 May 2013 03:42:14 GMT

I don't think you will get a 3-6x increase in CLI if you only had the card for less than a year, unless something changed dramatically, such as your income increasing by 5-10 times for instance.

Did you have some kind of baddies on your file when you got approved for 6k? or you just had your Citi, Wells Fargo and BofA cards for a long time?