topic Re: Chase CSP CLI offer in Credit Cards

Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 14:05:36 GMT

Hi, guys,

I got this CSP targetted offer for a CLI supposedly without a credit check. I can see people have gotten it over the last couple of months with Freedom. I have always been a little wary of having too much credit in case someone down the road declines me. I was thinking of perhaps getting Freedom at some point as well - would a CLI here fit with that goal?

I, of course, don't need a CLI. It could manage utilization but even that is not neccessary as such. I have let up to 3300 report without thinking much (and that added to a high of some 5500 out of 12500 - balance + new spending). I always PIF anyway. Of course, if I am spending that much, it wouldn't hurt to have the CL be around 15k or 16k - approaching my BCP CL. Any idea how many % increase would go on to still be a SP?

Also, why don't they just do auto CLIs if they really want to give these out as targetted offers?

Re: Chase CSP CLI offer

youngandcreditwrthy — Mon, 17 Feb 2014 14:27:21 GMT

Are they not suggesting a specific cli for you?

Seems like on some of the other offers they suggest a cli to request for a specific customer...

I'd ask for $25k. They will prob counter. If you want the Freedom soon, be sure to app for Freedom after you get the cli on CSP.

I had Freedom a year and a half at $5k, got CSP for $6k in Oct, then got Marriott PR for $25k in Jan. Chase doesn't mind multiple accounts. :-) With that cl on CSP, I'd bet you get a hefty approval on a co-branded card. Chase seems to be more generous with the co-branded cards.

Good luck!

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 14:46:02 GMT

@youngandcreditwrthy wrote:
Are they not suggesting a specific cli for you?
Seems like on some of the other offers they suggest a cli to request for a specific customer...

I'd ask for $25k. They will prob counter. If you want the Freedom soon, be sure to app for Freedom after you get the cli on CSP.

I had Freedom a year and a half at $5k, got CSP for $6k in Oct, then got Marriott PR for $25k in Jan. Chase doesn't mind multiple accounts. :-) With that cl on CSP, I'd bet you get a hefty approval on a co-branded card. Chase seems to be more generous with the co-branded cards.

Good luck!

Nope, that's the entirety of the e-mail I got last night: "Come request a CLI". And I"m all "How much do you want me to request?" hehe.

Re: Chase CSP CLI offer

yudeology101 — Mon, 17 Feb 2014 14:59:06 GMT

@youngandcreditwrthy wrote:
Are they not suggesting a specific cli for you?
Seems like on some of the other offers they suggest a cli to request for a specific customer...

I'd ask for $25k. They will prob counter. If you want the Freedom soon, be sure to app for Freedom after you get the cli on CSP.

I had Freedom a year and a half at $5k, got CSP for $6k in Oct, then got Marriott PR for $25k in Jan. Chase doesn't mind multiple accounts. :-) With that cl on CSP, I'd bet you get a hefty approval on a co-branded card. Chase seems to be more generous with the co-branded cards.

Good luck!

+1. I would def. ask for more and if anything, they'll counter and meet you somewhere in the middle. I would hate for you to regret if you received the $16k although you acutally could've gotten the full $25k instead. Chase offered more money, why not take the advantage?

Best of luck and congrats on the offer! BTW, how long have you had the card?

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 15:38:43 GMT

@yudeology101 wrote:

+1. I would def. ask for more and if anything, they'll counter and meet you somewhere in the middle. I would hate for you to regret if you received the $16k although you acutally could've gotten the full $25k instead. Chase offered more money, why not take the advantage?

Best of luck and congrats on the offer! BTW, how long have you had the card?

I have had the CSP for 10 months now. I got it in April of last year.

These high CLs approaching $20k scare me for some reason. I don't even like having my $18k BCP and think I went overboard there.

Re: Chase CSP CLI offer

takeshi74 — Mon, 17 Feb 2014 15:43:52 GMT

@Mailak wrote:
I was thinking of perhaps getting Freedom at some point as well - would a CLI here fit with that goal?

It's really not an issue with Chase. If you hit your internal limit you can reallocate to open a Freedom (I did). I suggest taking the CLI.

@Mailak wrote:
Also, why don't they just do auto CLIs if they really want to give these out as targetted offers?

Not sure why you're assuming that they're mutually exclusive. They may not be common but my wife, for example, has received auto CLI's from Chase. She has also received offers like this.

@Mailak wrote:
These high CLs approaching $20k scare me for some reason.

What reason? You should be enjoying the high CL's that you've earned.

Re: Chase CSP CLI offer

Anonymous — Mon, 17 Feb 2014 15:44:02 GMT

@Mailak wrote:
@yudeology101 wrote:
+1. I would def. ask for more and if anything, they'll counter and meet you somewhere in the middle. I would hate for you to regret if you received the $16k although you acutally could've gotten the full $25k instead. Chase offered more money, why not take the advantage?

Best of luck and congrats on the offer! BTW, how long have you had the card?

I have had the CSP for 10 months now. I got it in April of last year.

These high CLs approaching $20k scare me for some reason. I don't even like having my $18k BCP and think I went overboard there.

It is good to be conservative and resposible. I don't think having a higher credit limit would increase your chances of being declined except in rare cases where a company might feel that they've given you their internal limit of exposure.

If anything, I feel that this increase will help you with your chances of getting the freedom. Also, if they for some reason gave you a limit on it of 4k and you wanted 10k, you can then just call them up and ask them to move 6k from this account to the Freedom, and they'll be happy to do so.

Also, say they increase this account to 22k which makes you uncomfortable, and your Freedom comes with a CL of 15k, again, you can call them and ask them to move some of the limit to Freedom from this account making both accounts 18.5 if you want to.

Re: Chase CSP CLI offer

clocktick — Mon, 17 Feb 2014 15:45:58 GMT

So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 15:55:09 GMT

@takeshi74 wrote:
What reason? You should be enjoying the high CL's that you've earned.

Hehe, I don't know. Just not comfortable seeing those high numbers, ha. Wouldn't ever use it anyway. So long as I have 10k, I'm typically happy and content (and believe I have a nice, comfy, credit limit, which could accomodate any purchase I might ever have to make).

Two years ago, my high CL was $300 (out of lack of knowlege really, rather than bad credit) ;-)

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 15:56:54 GMT

@clocktick wrote:
So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?

Thinking about it...

Others have gotten e-mail offers and it has resulted in no HP... so it seems that they mean what they say.

Re: Chase CSP CLI offer

Creditaddict — Mon, 17 Feb 2014 16:07:14 GMT

OMG, TAKE FREE CREDIT!!!

But seriously they are probably trying to bring you up closer to your amex

But the real question is if you want the Freedom, Why have you not applied for it? Id hit this button for this CLI and turn around and go find the best offer for Freedom and apply for it!

Re: Chase CSP CLI offer

Anonymous — Mon, 17 Feb 2014 16:07:33 GMT

Personally, I would love limits like that. Not because I want to use them, but because I want to use a higher portion of them comfortably with out needing to micromanage payments to keep my scores up.

Some people feel it is silly to do so, but for me, I prefer to plan for emergencies. If I suddently need a new car (which incidentally, I do) or if I need to apply for any kind of credit for some reason, I want to be able to get the best terms possible, which might not always be possible if I don't stay on top of my balances reporting.

With an account of $15,000, you can comfortably charge $1350 and let that report (and just pif it by the due date to avoid interest) and you'll have no problems. You'd only report 9% UTL which is optimal. If I do that on a card with a limit of $1750, I'd report a UTL of 77% and my score would tank for that month.

You are saving yourself from ever really having to worry about that, or having to make multiple payments a month, and so you're probably more stress free over all with higher limits! Go for it!

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 17:17:02 GMT

@Creditaddict wrote:
OMG, TAKE FREE CREDIT!!!

But seriously they are probably trying to bring you up closer to your amex

But the real question is if you want the Freedom, Why have you not applied for it? Id hit this button for this CLI and turn around and go find the best offer for Freedom and apply for it!

Ha! I have a very low AAoA and new accounts affect it and the credit score adversely. So I aim not to add more than 1 account per year. In a month or two, it will be a year since I got the CSP, so that is when I thought I'd contemplate getting a new one. A couple of hundred dollars is usually not incentive enough for me to apply for an account unless I wanted that thing anyway, in which case I will happily take their reward/offer. That's why I don't apply for too many accounts. My CR is fairly thin compared to most people but is somewhat prudent in its look, so I am sure I would get it if I applied.

Re: Chase CSP CLI offer

Creditaddict — Mon, 17 Feb 2014 17:20:12 GMT

@Mailak wrote:
@Creditaddict wrote:
OMG, TAKE FREE CREDIT!!!

But seriously they are probably trying to bring you up closer to your amex

But the real question is if you want the Freedom, Why have you not applied for it? Id hit this button for this CLI and turn around and go find the best offer for Freedom and apply for it!
Ha! I have a very low AAoA and new accounts affect it and the credit score adversely. So I aim not to add more than 1 account per year. In a month or two, it will be a year since I got the CSP, so that is when I thought I'd contemplate getting a new one. A couple of hundred dollars is usually not incentive enough for me to apply for an account unless I wanted that thing anyway, in which case I will happily take their reward/offer. That's why I don't apply for too many accounts. My CR is fairly thin compared to most people but is somewhat prudent in its look, so I am sure I would get it if I applied.

Okay so you have good restrain and a plan, always good things... I would just hate passing up the 5% categories if you are going to be someone that pushes through the max on those basically just to be 1 year out between apps instead of 8 months or something.

id still take the free CLI offered to you... most of us would jump and scream for such an offer from Chase!

Re: Chase CSP CLI offer

Cdnewmanpac — Mon, 17 Feb 2014 17:46:20 GMT

@Mailak wrote:
Hi, guys,

I got this CSP targetted offer for a CLI supposedly without a credit check. I can see people have gotten it over the last couple of months with Freedom. I have always been a little wary of having too much credit in case someone down the road declines me. I was thinking of perhaps getting Freedom at some point as well - would a CLI here fit with that goal?

I, of course, don't need a CLI. It could manage utilization but even that is not neccessary as such. I have let up to 3300 report without thinking much (and that added to a high of some 5500 out of 12500 - balance + new spending). I always PIF anyway. Of course, if I am spending that much, it wouldn't hurt to have the CL be around 15k or 16k - approaching my BCP CL. Any idea how many % increase would go on to still be a SP?

Also, why don't they just do auto CLIs if they really want to give these out as targetted offers?

I think you answered your own question. Some people (perhaps including you) don't want "high" limits. USAA actually makes you sign a form when you enroll saying you are ok with CLIs. So this way, you get the choice to request a limit increase, knowing it won't cost an inquiry. But those who don't want a high limit aren't "forced" to get one.

As an aside, the impact of minor changes in utilization is often overstated on these boards. For the last few months, the only thing that has changed on my MyFico EQ report has been different utilization. With 1 card reporting 9% and all the rest 0, my score was 798. With 1 card reporting >20%, all others 0, it dropped to 794. With 3 cards reporting balances, 1 >20%, it was 788. None of those scores are significantly different and none would result in different loan terms. From what I've read, auto loan weighted ficos have even less impact from cc utlization. I could see why someone just starting out, or on the border of a mortgage threshold (650, 720, 760, etc.) or someone with all low limits might focus on utilization, once you get to limits like the OP has, with otherwise good credit, utilization really isn't worth sweating.

If the OP is uncomfortable with a higher limit, he should shred the offer and move on. In the long term, the impact either way is close to zero. Do what feels right. But if you do accept the offer, it certainly won't hurt your chances with a freedom. This is Chase. If they deny your freedom, you can recon and offer to pull some of your CSP credit over to the freedom. So you would actually be better positioned for your freedom later.

Re: Chase CSP CLI offer

shane82388 — Mon, 17 Feb 2014 18:59:44 GMT

@Mailak wrote:
@clocktick wrote:
So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?
Thinking about it...

Others have gotten e-mail offers and it has resulted in no HP... so it seems that they mean what they say.

Doesnt it say right on the email that there is no credit check?

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 20:35:01 GMT

@shane82388 wrote:
@Mailak wrote:
@clocktick wrote:
So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?
Thinking about it...

Others have gotten e-mail offers and it has resulted in no HP... so it seems that they mean what they say.

Doesnt it say right on the email that there is no credit check?

It does. And what one should do with that is go to myfico and verify :-) Haha. Or that's what I would do anyway.

Re: Chase CSP CLI offer

Creditaddict — Mon, 17 Feb 2014 20:37:19 GMT

@Mailak wrote:
@shane82388 wrote:
@Mailak wrote:
@clocktick wrote:
So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?
Thinking about it...

Others have gotten e-mail offers and it has resulted in no HP... so it seems that they mean what they say.

Doesnt it say right on the email that there is no credit check?
It does. And what one should do with that is go to myfico and verify :-) Haha. Or that's what I would do anyway.

CLICK IT, CLICK IT, CLICK IT....

Re: Chase CSP CLI offer

dodgerslv — Mon, 17 Feb 2014 20:50:15 GMT

@Creditaddict wrote:
@Mailak wrote:
@shane82388 wrote:
@Mailak wrote:
@clocktick wrote:
So are you going for it OP?

So what do you guys think, because it was an e-mail offer do you think it'll be a SP?
Thinking about it...

Others have gotten e-mail offers and it has resulted in no HP... so it seems that they mean what they say.

Doesnt it say right on the email that there is no credit check?
It does. And what one should do with that is go to myfico and verify :-) Haha. Or that's what I would do anyway.

CLICK IT, CLICK IT, CLICK IT....

haha!!...i gotta agree with addict OP...click the button and let us know the outcome!

Re: Chase CSP CLI offer

Mailak — Mon, 17 Feb 2014 20:55:33 GMT

Mine drops by about 20 points when I have three cards reporting versus one. At this point, I have comfortable limits, so I don't manage utilization that much. In any case, I know how it works for my profile, so I can tidy it up whenever I am looking to apply for credit.

Thanks for the reply! :-)