topic Re: Chase Freedom CL in Credit Cards

Chase Freedom CL

YoungMoney06 — Mon, 03 Mar 2014 07:51:43 GMT

I recently applied for an Amazon Rewards card and was approved for $500. After going back on forth, I was able to get a Chase Freedom card, maintain the same $500 CL on the new Chase Freedom card.

My thing is, is Chase normally this modest in initial CL's, and how are they when it comes to CLIs in the future? I was approved for Discover and Citi for $2k each, what gives with Chase?

Re: Chase Freedom CL

CreditScholar — Mon, 03 Mar 2014 08:08:44 GMT

@YoungMoney06 wrote:
I recently applied for an Amazon Rewards card and was approved for $500. After going back on forth, I was able to get a Chase Freedom card, maintain the same $500 CL on the new Chase Freedom card.

My thing is, is Chase normally this modest in initial CL's, and how are they when it comes to CLIs in the future? I was approved for Discover and Citi for $2k each, what gives with Chase?

As a general rule, Chase likes to see and work with well-established people. They give out quite high CLs, but they often don't want to be the first one to give you a large CL.

Other things may be holding your CL back as well, such as current util, INQs, AAoA, etc.

Re: Chase Freedom CL

YoungMoney06 — Mon, 03 Mar 2014 08:19:32 GMT

Any feedback as to when would be a good time to request a CLI? Three months, six months, etc?

Re: Chase Freedom CL

indiolatino61 — Mon, 03 Mar 2014 08:44:06 GMT

@YoungMoney06 wrote:
Any feedback as to when would be a good time to request a CLI? Three months, six months, etc?

The generally recommended time frame is 6 months. The best of luck to you.

Re: Chase Freedom CL

takeshi74 — Mon, 03 Mar 2014 14:33:07 GMT

@YoungMoney06 wrote:
My thing is, is Chase normally this modest in initial CL's

All depends on one's credit. My initial CL with my first Chase card was $2K. Next two were $25K each but my utilization drastically changed prior to apping for those 2 cards. The next two were a bit lower.

Re: Chase Freedom CL

elpo9 — Mon, 03 Mar 2014 14:42:00 GMT

Chase initially opened my Freedom at $400. I immediately called an analyst from the backdoor thread, explained I wanted $1000 to take advantage of a BT offer, and she came back with $2000! I'm now at $2400 from consolidating a Slate card which also started at $400 -- rarely used it, no rewards, high APR...wasn't worth asking for a CLI.

Re: Chase Freedom CL

Anonymous — Mon, 03 Mar 2014 16:03:00 GMT

When you start getting declined or approved for very low limits, it's generally a good idea to stop your app spree...

Re: Chase Freedom CL

YoungMoney06 — Mon, 03 Mar 2014 16:18:24 GMT

I kind of figured that eaharu, thing is, the Chase card was actually my FIRST CC
I applied for during my app spree,
So at the time, none of the inquiries were there and the AAOA should have been relatively high before the two GE cards reported.

Re: Chase Freedom CL

Anonymous — Mon, 03 Mar 2014 17:02:16 GMT

Did you have any revolving history prior to that? What was your AAoA at that time?

Re: Chase Freedom CL

Swapmeet — Mon, 03 Mar 2014 17:15:34 GMT

Give it 6 months and ask for a large cli....they might decline it, but chase is awesome on recons. My first request moved me from my initial 2500 to 5000. Then, I changed my strategy. You see, the csr asked me if I wanted a particular CL, or if I just wanted the computer to give me whatever....I chose the computer, which gave me 500 bucks more. I was thinking "Oh hell no, not in exchange for an hp." So I called to recon, and they said that I couldn't recon an approval. So I sent an email to the EO, and I got the 5k cl. From then on, I was like "I am going to ask for way more than I need, then get declined, then recon--at which time they will give me as much as they are willing to." So this recent time, when the csr asked me if I wanted to ask for a specific number or let the computer decide, I said that I wanted 15k--which was declined. On recon, they offered me 10k. I was expecting 7.5 or 8k. I do apologize for the length, but I hope this helps.

Re: Chase Freedom CL

YoungMoney06 — Mon, 03 Mar 2014 17:20:57 GMT

On revolving account (WF College Card, $1.2k credit limit) I thing the AAOA at the time may have been just over one year for active accounts, right now it's sitting at about three years I believe because of a defaulted CapOne card from 2006 that is scheduled to fall off April 2014 (7 year rule.) Again, this is estimated, give or take a month or two.

BTW, as a side note enharu from another topic, I called AMEX CS and based on the letter will be holding out on the AMEX recon as, per the letter, me reconning would be a wasted HP. Thanks for your advice in that matter.

Re: Chase Freedom CL

Anonymous — Mon, 03 Mar 2014 19:02:51 GMT

@YoungMoney06 wrote:
On revolving account (WF College Card, $1.2k credit limit) I thing the AAOA at the time may have been just over one year for active accounts, right now it's sitting at about three years I believe because of a defaulted CapOne card from 2006 that is scheduled to fall off April 2014 (7 year rule.) Again, this is estimated, give or take a month or two.

BTW, as a side note enharu from another topic, I called AMEX CS and based on the letter will be holding out on the AMEX recon as, per the letter, me reconning would be a wasted HP. Thanks for your advice in that matter.

Give it a couple more months and I'm pretty sure you will be approved for the charge card. Just wait till your defaulted CapOne card falls off your CR. I suspect that is hurting you the most. As for the Chase cards, that's probably the cause behind the low CLs too. However there's nothing much that can be done about it now. Any CLI requests will be additional HPs.

Just maintain the accounts well, and hopefully you will get some auto CLI. Otherwise just apply for another Chase product later on and reallocate the CLs.