topic Re: Chase credit limits and income in Credit Cards

Chase credit limits and income

isoldmyatlas — Sat, 17 Aug 2013 04:26:03 GMT

I currently have 2 Chase cards - the Amazon @$1100 and the Southwest RR @$6500. My income is between $40-$45k and my total credit limits across 8 cards is about $30k. I don't use the Amazon card much but I do love my Southwest card. It's my only Visa Signature card so it's my go-to for car rentals. Sometime early next year I'd like to request a CLI on it, even if it means a HP, but I'm not sure if they would grant it based on my income and current available credit lines.

Any other folks out there with info on how generous Chase is with credit limits for those of us with low to mid-range incomes?

Re: Chase credit limits and income

Anonymous — Sat, 17 Aug 2013 05:36:03 GMT

@isoldmyatlas wrote:
@I currently have 2 Chase cards - the Amazon @$1100 and the Southwest RR @$6500. My income is between $40-$45k and my total credit limits across 8 cards is about $30k. I don't use the Amazon card much but I do love my Southwest card. It's my only Visa Signature card so it's my go-to for car rentals. Sometime early next year I'd like to request a CLI on it, even if it means a HP, but I'm not sure if they would grant it based on my income and current available credit lines.

Any other folks out there with info on how generous Chase is with credit limits for those of us with low to mid-range incomes?

Its more a question of utilization vs income. If your util is good, then I think you are okay for CLI (expect it to be hard).

I do have a question about your profile. You have dates listed which, I assume, are the open dates for the cards. However you have different years listed for the AMEXs. Are you not getting your cards backdated. Might want to look at your credit report closer and see all AMEXs show open dates in your member date year.

Finally, are you taking full advantage of your 3X soft based AMEX CLI that can occur 61 days after first card and every 6 months after that? Can't tell from your AMEX limits if you have. It behooves you to show as many cards over 10k when Chase HPs you.

Re: Chase credit limits and income

revvystoke — Sat, 17 Aug 2013 06:03:05 GMT

My chase card was the first card reporting over 10k. My boa was bumped to 15 k but not reported as such. I only reported my income as 61k a year but I put a lot of reimbursable spend and have income from other sources that I didn't count.

Re: Chase credit limits and income

revvystoke — Sat, 17 Aug 2013 06:04:06 GMT

*put a lot of reimbursable spend on my cards, didnt count it as income* sorry can't edit on mobile.

Re: Chase credit limits and income

isoldmyatlas — Sat, 17 Aug 2013 14:54:56 GMT

@Anonymous wrote:
@isoldmyatlas wrote:
@I currently have 2 Chase cards - the Amazon @$1100 and the Southwest RR @$6500. My income is between $40-$45k and my total credit limits across 8 cards is about $30k. I don't use the Amazon card much but I do love my Southwest card. It's my only Visa Signature card so it's my go-to for car rentals. Sometime early next year I'd like to request a CLI on it, even if it means a HP, but I'm not sure if they would grant it based on my income and current available credit lines.

Any other folks out there with info on how generous Chase is with credit limits for those of us with low to mid-range incomes?
Its more a question of utilization vs income. If your util is good, then I think you are okay for CLI (expect it to be hard).

I do have a question about your profile. You have dates listed which, I assume, are the open dates for the cards. However you have different years listed for the AMEXs. Are you not getting your cards backdated. Might want to look at your credit report closer and see all AMEXs show open dates in your member date year.

Finally, are you taking full advantage of your 3X soft based AMEX CLI that can occur 61 days after first card and every 6 months after that? Can't tell from your AMEX limits if you have. It behooves you to show as many cards over 10k when Chase HPs you.

My utilization is good, it's always under 10%. As for my AMEX cards, they are backdated fine - the dates I put are just the dates I acquired each card. And yup, last month I posted about my first 6 month increase - I took my BCE from $4,000 to $10,000 - and in January I will try to do the same with my Hilton card. That will likely happen a month or two before I ask Chase for a CLI. You don't think Chase will turn down a CLI because I will already have 1 or 2 $10k cards reporting?

Re: Chase credit limits and income

kevinjjc — Sat, 17 Aug 2013 15:25:26 GMT

FWIW, I have a Chase Freedom @ 18k and a CSP @ 17k. My income is similar to yours. Although, I do have high credit limits on other cards.

Re: Chase credit limits and income

Anonymous — Sat, 17 Aug 2013 15:27:18 GMT

Nope quite the opposite. They should look at the Amex and go wow he can handle a big CL. Remember they can't see when the CLI happened. For all they know you had that 10k bce from whenever that open date is.

Btw, don't be scared to ask for full 3x on hilton to 12k. Or if you want to be more agressive, ask for cli on bce maybe to 24000. You can then move CL from Bce to Hilton to even them out.

Re: Chase credit limits and income

isoldmyatlas — Sat, 17 Aug 2013 15:35:29 GMT

@kevinjjc wrote:
@FWIW, I have a Chase Freedom @ 18k and a CSP @ 17k. My income is similar to yours. Although, I do have high credit limits on other cards.

WOW, really? That gives me some hope! What are your limits across your cards, if you don't mind me asking?

Re: Chase credit limits and income

isoldmyatlas — Sat, 17 Aug 2013 15:36:39 GMT

@Anonymous wrote:
Nope quite the opposite. They should look at the Amex and go wow he can handle a big CL. Remember they can't see when the CLI happened. For all they know you had that 10k bce from whenever that open date is.

Btw, don't be scared to ask for full 3x on hilton to 12k. Or if you want to be more agressive, ask for cli on bce maybe to 24000. You can then move CL from Bce to Hilton to even them out.

Doesn't AMEX tend to do a FR if you have over $24900 across all cards you have with them?

Re: Chase credit limits and income

Anonymous — Sat, 17 Aug 2013 15:49:59 GMT

@isoldmyatlas wrote:
@Anonymous wrote:
Nope quite the opposite. They should look at the Amex and go wow he can handle a big CL. Remember they can't see when the CLI happened. For all they know you had that 10k bce from whenever that open date is.

Btw, don't be scared to ask for full 3x on hilton to 12k. Or if you want to be more agressive, ask for cli on bce maybe to 24000. You can then move CL from Bce to Hilton to even them out.
Doesn't AMEX tend to do a FR if you have over $24900 across all cards you have with them?

One card over 24900 is the rumor. I can verify that complete automated system is supposedly allows request up to 24900 so maybe that is where the rumor comes from.

Also, remember it isn't a FR when you request over 24900 and get asked for tax transcript. The reason is that you can just cancel the request with no harm. Or just change the request to 24900 with no tax transcript. If your tax returns match your declared income, I wouldn't worry then.

FR is different. Even though they ask for same tax transcript, you have a more extreme choice. Either cough up the tax transcripts or close your accounts immediately. In the mean time, your cards are frozen etc.

In your case, you could ask for the full 30k. They may not give to you or ask for tax transcript. Since AMEX counters, I don't really see the harm.

Re: Chase credit limits and income

BearsAndTurtlesRtheBest — Sat, 17 Aug 2013 17:27:41 GMT

I would transfer my Amazon CL into Southwest RR bringing it to 7,600

Re: Chase credit limits and income

isoldmyatlas — Sat, 17 Aug 2013 17:35:58 GMT

@BearsAndTurtlesRtheBest wrote:
I would transfer my Amazon CL into Southwest RR bringing it to 7,600

i don't want to close it out, though. There's no annual fee and I shop on Amazon fairly often

Re: Chase credit limits and income

BearsAndTurtlesRtheBest — Sat, 17 Aug 2013 17:41:58 GMT

Oh ok I see, then never mind

Re: Chase credit limits and income

kevinjjc — Sun, 18 Aug 2013 00:38:41 GMT

@isoldmyatlas wrote:
@kevinjjc wrote:
@FWIW, I have a Chase Freedom @ 18k and a CSP @ 17k. My income is similar to yours. Although, I do have high credit limits on other cards.
WOW, really? That gives me some hope! What are your limits across your cards, if you don't mind me asking?

Here's a summary of my credit:

220,250 total of credit card limits

+ 40,000 total of LOC limits

--------------------------------------------------

= 260,250 total of revolving credit limits

CC/LOC LIMIT
American Express Blue Cash Preferred $18,000
Bank of America Platinum Plus Visa $12,500

Barclays NFL (NY Giants) Extra Points World MC $10,000

Chase Freedom Visa Signature $18,000

Chase Sapphire Preferred World MC $17,000
Discover it Card $24,500
JCPenney/GECRB $5,000
Walmart Discover/GECRB $10,000
Navy Federal goRewards MasterCard $25,000
PenFed Platinum Cash Rewards Visa $50,000
Staples/Citi $3,250
USAA Rewards World MasterCard $12,000
US Bank Cash+ Visa Signature $15,000
Navy Federal LOC $15,000
PenFed LOC $25,000

Re: Chase credit limits and income

isoldmyatlas — Sun, 18 Aug 2013 00:52:34 GMT

@kevinjjc wrote:
@isoldmyatlas wrote:
@kevinjjc wrote:
@FWIW, I have a Chase Freedom @ 18k and a CSP @ 17k. My income is similar to yours. Although, I do have high credit limits on other cards.
WOW, really? That gives me some hope! What are your limits across your cards, if you don't mind me asking?
Here's a summary of my credit:

220,250 total of credit card limits
+ 40,000 total of LOC limits
--------------------------------------------------
= 260,250 total of revolving credit limits

CC/LOC LIMIT
American Express Blue Cash Preferred $18,000
Bank of America Platinum Plus Visa $12,500
Barclays NFL (NY Giants) Extra Points World MC $10,000
Chase Freedom Visa Signature $18,000
Chase Sapphire Preferred World MC $17,000
Discover it Card $24,500
JCPenney/GECRB $5,000
Walmart Discover/GECRB $10,000
Navy Federal goRewards MasterCard $25,000
PenFed Platinum Cash Rewards Visa $50,000
Staples/Citi $3,250
USAA Rewards World MasterCard $12,000
US Bank Cash+ Visa Signature $15,000
Navy Federal LOC $15,000
PenFed LOC $25,000

That's incredible - well done! Your AAoA must be really high. I had no idea those kind of limits were possible with a low/moderate income.

Re: Chase credit limits and income

kevinjjc — Sun, 18 Aug 2013 01:14:15 GMT

@isoldmyatlas wrote:
@kevinjjc wrote:
@isoldmyatlas wrote:
@kevinjjc wrote:
@FWIW, I have a Chase Freedom @ 18k and a CSP @ 17k. My income is similar to yours. Although, I do have high credit limits on other cards.
WOW, really? That gives me some hope! What are your limits across your cards, if you don't mind me asking?
Here's a summary of my credit:

220,250 total of credit card limits
+ 40,000 total of LOC limits
--------------------------------------------------
= 260,250 total of revolving credit limits

CC/LOC LIMIT
American Express Blue Cash Preferred $18,000
Bank of America Platinum Plus Visa $12,500
Barclays NFL (NY Giants) Extra Points World MC $10,000
Chase Freedom Visa Signature $18,000
Chase Sapphire Preferred World MC $17,000
Discover it Card $24,500
JCPenney/GECRB $5,000
Walmart Discover/GECRB $10,000
Navy Federal goRewards MasterCard $25,000
PenFed Platinum Cash Rewards Visa $50,000
Staples/Citi $3,250
USAA Rewards World MasterCard $12,000
US Bank Cash+ Visa Signature $15,000
Navy Federal LOC $15,000
PenFed LOC $25,000

That's incredible - well done! Your AAoA must be really high. I had no idea those kind of limits were possible with a low/moderate income.

USAA CCMP: 6.4 years

Credit Karma: 5.1 years

I don't know why they are being calculated differently.

Re: Chase credit limits and income

09Lexie — Sun, 18 Aug 2013 01:15:32 GMT

@kevinjjc

Do you have closed or are you an AU on accounts?

Re: Chase credit limits and income

kevinjjc — Sun, 18 Aug 2013 01:27:59 GMT

@09Lexie wrote:
@kevinjjc

Do you have closed or are you an AU on accounts?

Plenty of closed accounts still reporting... mostly installment tradelines, a few credit card tradelines.

No AU accounts ... well, just 1 closed AU credit card account still reporting.

Re: Chase credit limits and income

09Lexie — Sun, 18 Aug 2013 01:36:22 GMT

@kevinjjc

CK doesn't take closed accounts into their calculation for AAOA

Re: Chase credit limits and income

kevinjjc — Sun, 18 Aug 2013 01:52:15 GMT

@09Lexie wrote:
@kevinjjc

CK doesn't take closed accounts into their calculation for AAOA

Interesting. Thanks for pointing that out. Definitely good to know.

Do "official" AAoA calculations factor in closed accounts?