topic Re: Best spend pattern for Chase cli? in Credit Cards

Best spend pattern for Chase cli?

revvystoke — Wed, 10 Jul 2013 04:55:05 GMT

I have a card with chase, 3rd statement just cut. I would like to ask for a CLI around the 6th statement. I understand it would likely be a hp, I am not worried about inq, have about 3 on each CR showing, my aaoa is too low to open new cards so I figured I would pick a card every 6 months to cli.

What does chase like to see for cli's, usage, util etc. I have always had a credit balance on my statements and have run close to 15k through the card since opening. I was planning on a vacation in the spring and want to put my expenses on it. I would likely carry a balance of a few $k for a couple months so a little bigger CL would help me keep the util from dragging in the dirt.

Re: Best spend pattern for Chase cli?

Anonymous — Wed, 10 Jul 2013 05:08:33 GMT

@revvystoke wrote:
I have a card with chase, 3rd statement just cut. I would like to ask for a CLI around the 6th statement. I understand it would likely be a hp, I am not worried about inq, have about 3 on each CR showing, my aaoa is too low to open new cards so I figured I would pick a card every 6 months to cli.

What does chase like to see for cli's, usage, util etc. I have always had a credit balance on my statements and have run close to 15k through the card since opening. I was planning on a vacation in the spring and want to put my expenses on it. I would likely carry a balance of a few $k for a couple months so a little bigger CL would help me keep the util from dragging in the dirt.

Just keep using as much as you can and pay it off entirely if possible. Heavy usage is a big plus.

Worry about your util only right before you're about to ask for a CLI. Other than that, letting high balances report is a good thing.

Re: Best spend pattern for Chase cli?

Anonymous — Wed, 10 Jul 2013 05:49:17 GMT

Using a card right up to the limit, then paying it down mid-cycle and using it again before the statement even hits seems to be the best way to get an auto-CLI. It makes intuitive sense as well.

Re: Best spend pattern for Chase cli?

CreditScholar — Wed, 10 Jul 2013 06:27:53 GMT

@Anonymous wrote:
@revvystoke wrote:
I have a card with chase, 3rd statement just cut. I would like to ask for a CLI around the 6th statement. I understand it would likely be a hp, I am not worried about inq, have about 3 on each CR showing, my aaoa is too low to open new cards so I figured I would pick a card every 6 months to cli.

What does chase like to see for cli's, usage, util etc. I have always had a credit balance on my statements and have run close to 15k through the card since opening. I was planning on a vacation in the spring and want to put my expenses on it. I would likely carry a balance of a few $k for a couple months so a little bigger CL would help me keep the util from dragging in the dirt.
Just keep using as much as you can and pay it off entirely if possible. Heavy usage is a big plus.
Worry about your util only right before you're about to ask for a CLI. Other than that, letting high balances report is a good thing.

+1 for Heavy usage and PIF.

Re: Best spend pattern for Chase cli?

Anonymous — Wed, 10 Jul 2013 13:37:41 GMT

From my experience Chase likes people who charge large amounts revolve them for a month or two... pay if off and do it again....

they like to see that you are using your cards heavily, have the ability to pay them off often but still revolve a balance from time to time.

Re: Best spend pattern for Chase cli?

kilj0y — Wed, 10 Jul 2013 15:19:13 GMT

I wouldn't revolve a balance if your only goal is to get a CLI. Another back door way of getting an increase if your taking the HP anyway is to app for a new card and move some of that limit over to your desired card.

Re: Best spend pattern for Chase cli?

Anonymous — Wed, 10 Jul 2013 16:16:00 GMT

@kilj0y wrote:
I wouldn't revolve a balance if your only goal is to get a CLI. Another back door way of getting an increase if your taking the HP anyway is to app for a new card and move some of that limit over to your desired card.

I'm not sure where you're getting that info on CLI, let me give you an example of where I pulled my info from. My father and I both app'd for the CSP on the same day, He was approved for 8k and myself 5k. This was 7 months ago, during that time I have spend over 25K through my CSP and PIF every single month. My father has spend less then half of that and has revolved a balance from time to time. During that 7 month period my dads credit limit has been raised twice, first to 16k then to 24k all while mine hasn't moved. Note his income is quite a bit higher then mine but my credit score is higher then his (for reference both our CS are over 740 and incomes over 100k). Now I understand every situation is different and this is just one example to pull from

Re: Best spend pattern for Chase cli?

navigatethis12 — Wed, 10 Jul 2013 16:39:46 GMT

I've never revolved a balance with Chase and have gotten increases. I suggest to never revolve a balance unless it is absouletely unavoidable. Paying interest in the hopes of getting an increase is silly.

Re: Best spend pattern for Chase cli?

kilj0y — Wed, 10 Jul 2013 16:51:09 GMT

But don't forget your credit profiles are different that is the main factor in determining CLIs, they soft your reports to decide if they want to market other cards to you, in doing so they may also use that info to auto CLI. So while you may have PIF every month they decided they were happy with the limit they gave you, while your dad which I would assume have a longer AAoA and higher income, they would increase his limit to entic him to charge more to their cards over his other ones.

Couldn't quote on ipad.

Re: Best spend pattern for Chase cli?

Anonymous — Wed, 10 Jul 2013 19:16:12 GMT

@kilj0y wrote:
But don't forget your credit profiles are different that is the main factor in determining CLIs, they soft your reports to decide if they want to market other cards to you, in doing so they may also use that info to auto CLI. So while you may have PIF every month they decided they were happy with the limit they gave you, while your dad which I would assume have a longer AAoA and higher income, they would increase his limit to entic him to charge more to their cards over his other ones.

Couldn't quote on ipad.

I get it completley, I was just pointing out that charging 4-5k every month and PIF doesn't necessairly mean you will be getting a CLI and also revolving a balance from time to time won't keep you from getting one either.

Re: Best spend pattern for Chase cli?

Anonymous — Sun, 14 Jul 2013 20:57:03 GMT

Wow, crazy we were discusing this just this week. I have a CSP which I spend 4-5K a month on and have PIF the statement balance every month since it has been opened. I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card but didn't touch my CSP...

Re: Best spend pattern for Chase cli?

09Lexie — Sun, 14 Jul 2013 21:04:02 GMT

@ryanbush

Congrats on your CLI!

Re: Best spend pattern for Chase cli?

revvystoke — Fri, 26 Jul 2013 07:13:57 GMT

@Anonymous wrote:
Wow, crazy we were discusing this just this week. I have a CSP which I spend 4-5K a month on and have PIF the statement balance every month since it has been opened. I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card but didn't touch my CSP...

Lucky. Next statement is about to cut. I have ran my card up within 2k of the CL, and pif'd and did it again. Hopefully they take notice. I would love to have a sp CLI for once. I let one balance post last statement of $20 so maybe I'll let a little more stick this time.

Re: Best spend pattern for Chase cli?

lg8302ch — Fri, 26 Jul 2013 08:59:44 GMT

@Anonymous wrote:
Wow, crazy we were discusing this just this week. I have a CSP which I spend 4-5K a month on and have PIF the statement balance every month since it has been opened. I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card but didn't touch my CSP...

Interesting...so Chase likes to see balances carried over

Re: Best spend pattern for Chase cli?

Capya — Fri, 26 Jul 2013 09:11:41 GMT

@Anonymous wrote:

I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card

This falls in line with the 4-month auto-cli for Chase Freedom trend.

Re: Best spend pattern for Chase cli?

MidnightVoice — Fri, 26 Jul 2013 12:47:18 GMT

I have a Chase-United Airlines card that I use for less then $1K per month. I have had the card since 2007, I have never had an auto-CLI and when I asked for one I got a small one and a hard pull.

On the other hand, when I applied for a Hotel card with them they gave it me right away, with the same CL as my first one!

Re: Best spend pattern for Chase cli?

revvystoke — Sat, 27 Jul 2013 00:53:09 GMT

Moved $3k over from my CSP, it was painless. csr had it done within 2 minutes.

Re: Best spend pattern for Chase cli?

VinnyofLegend — Sat, 27 Jul 2013 03:39:14 GMT

@lg8302ch wrote:
@Anonymous wrote:
Wow, crazy we were discusing this just this week. I have a CSP which I spend 4-5K a month on and have PIF the statement balance every month since it has been opened. I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card but didn't touch my CSP...
Interesting...so Chase likes to see balances carried over

@There must be more to it than that....What did this Freedom card start at?...I started one at 5K in Oct last year. Been carrying around 1K-1.6K @ 0% ending in Feb 2014..., both using it (have charged and paid off at least 2K on top of that 1Kish being carried...) No CLIs to date :d

Re: Best spend pattern for Chase cli?

CreditScholar — Mon, 29 Jul 2013 04:11:04 GMT

@lg8302ch wrote:
@Anonymous wrote:
Wow, crazy we were discusing this just this week. I have a CSP which I spend 4-5K a month on and have PIF the statement balance every month since it has been opened. I also have a Freedom card I opened in March and charge an expensive watch on and have only been making the minimum payments on since it is 0% for 15 months.

I log into my account today and see that Chase gave me a HUGH limit increase on my Freedom card but didn't touch my CSP...
Interesting...so Chase likes to see balances carried over

Not necessarily. I've never carried a balance and I just received another auto-CLI on my United Club card. That's my 2nd in 12 months.

Both times I'd been using it heavily (charged 50%+ of my CL and PIF). As always though YMMV.

Re: Best spend pattern for Chase cli?

Anonymous — Mon, 29 Jul 2013 04:22:19 GMT

Assuming (perhaps wrongly) that the banks have some fairly sophisticated models for determining initial CLs and how CLIs are given, it's fun but probably not very fruitful to try to induce patterns from small amounts of non-representative data. And it is certainly not good if people decide to carry balances in the hope of getting a CLI (I don't know what value to put on a CLI, but it's probably less than the cost of interest over a few cycles, even if that worked).

As an example, I recently posted about my daughter, who got a 8x CLI on her Amex BCE. Her trick: never to use the card at all. There is so much variation in credit reports, spend with that lender etc, that posts here cannot capture what might be the really important factor in the lenders decision.

That said, it can be fun, so carry on!