Cap1 Recon Fail Approved Chase Freedom!

[Anonymous]

  Last week I had pre quals with cap1 for venture & qs visa, apprvd for QS declined for Venture. Emailed the EO. Got a call today, nice chat but still declined for Venture. Will try later Venture has decent SL.

I also like the Chase Freedom, 5% rewards; app'd and got the awful 7-10 mssg, called right away & was approved after answering alot of questions. CL is 1k?! Requested to talk with someone about an increase.. they asked even more questions & the SL stays the same for now. Not sure why it's so low, my income is decent. My scores are lower due to acquiring several cards since July. When they ask why you want a higher limit what do you say? I said I had a purchase in mind ( which I don't.) I have the Chase Amzn Visa  and have a money market acct @ Chase. Not sure how Chase works when it comes to credit limits but for me they have been kinda stingy.

But, I ended up with an approval so that's a good outcome!

[Skye12329]

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@Anonymous wrote:

  Last week I had pre quals with cap1 for venture & qs visa, apprvd for QS declined for Venture. Emailed the EO. Got a call today, nice chat but still declined for Venture. Will try later Venture has decent SL.

@I also like the Chase Freedom, 5% rewards; app'd and got the awful 7-10 mssg, called right away & was approved after answering alot of questions. CL is 1k?! Requested to talk with someone about an increase.. they asked even more questions & the SL stays the same for now. Not sure why it's so low, my income is decent. My scores are lower due to acquiring several cards since July. When they ask why you want a higher limit what do you say? I said I had a purchase in mind ( which I don't.) I have the Chase Amzn Visa  and have a money market acct @ Chase. Not sure how Chase works when it comes to credit limits but for me they have been kinda stingy.

But, I ended up with an approval so that's a good outcome!

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Chase will require another HP for a CLI. Even then they are or can be pretty stingy when it comes to get your credit limit raised with them. The reason for the limit could be anything, its based on creditworthiness, not just income. You mentioned you have gotten a few new accounts in July. That could be part of the reason. Generally what some people do is open a new Chase card and move the limits around. The other consensus for Chase it may seem is that they use an internal score. So for your first card with them it might be a lower limit. But if you use the account responsibly, your internal score should go up which usually yields higher limits for subsequent cards from them. 

[Anonymous]

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@Skye12329 wrote:

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@Anonymous wrote:

  Last week I had pre quals with cap1 for venture & qs visa, apprvd for QS declined for Venture. Emailed the EO. Got a call today, nice chat but still declined for Venture. Will try later Venture has decent SL.

@I also like the Chase Freedom, 5% rewards; app'd and got the awful 7-10 mssg, called right away & was approved after answering alot of questions. CL is 1k?! Requested to talk with someone about an increase.. they asked even more questions & the SL stays the same for now. Not sure why it's so low, my income is decent. My scores are lower due to acquiring several cards since July. When they ask why you want a higher limit what do you say? I said I had a purchase in mind ( which I don't.) I have the Chase Amzn Visa  and have a money market acct @ Chase. Not sure how Chase works when it comes to credit limits but for me they have been kinda stingy.

But, I ended up with an approval so that's a good outcome!

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Chase will require another HP for a CLI. Even then they are or can be pretty stingy when it comes to get your credit limit raised with them. The reason for the limit could be anything, its based on creditworthiness, not just income. You mentioned you have gotten a few new accounts in July. That could be part of the reason. Generally what some people do is open a new Chase card and move the limits around. The other consensus for Chase it may seem is that they use an internal score. So for your first card with them it might be a lower limit. But if you use the account responsibly, your internal score should go up which usually yields higher limits for subsequent cards from them. 

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They pulled EQ which is my lowest score. I 'thought' the rep told me it would not be a hard inq for cli request and she did say they would be soft pulls if I reqested that again in the future.  I was having trouble understanding her, 'off shore'.  I was approved for Chase Amzn. a month ago with a slightly higher limit than this. I think they are more sensitive to new accts, inq's. etc. I have a pre qual offer for Discover and CK  says my odds are 'very good' but I don't trust either one so I opted for the Freedom & hope to do a PC in the future.

[Anonymous]

For Chase to give you a 1k starting limt, your internal score must be low.  For the low starting limit, don't bother calling for an increase.  What I'd do if I were in your shoes is use the card and show history and then request a CLI in 6 months.

[Anonymous]

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@Anonymous wrote:

For Chase to give you a 1k starting limt, your internal score must be low.  For the low starting limit, don't bother calling for an increase.  What I'd do if I were in your shoes is use the card and show history and then request a CLI in 6 months.

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I'm not calling for an increase because I did that today when approved. Now I'm po'd to think it was a HP when the rep assured me it wasn't. Not sure what my 'internal score' is; non fico fell to 670 after all the new accts., 2% util, 2 dings that are set to fall off spring 2016. They have approved me twice in a little over a month so I will be grateful for that.

[Skye12329]

I don't think I have ever heard of a customer initiated SP request. Only time Chase usually SP increases your line is when it's an auto increase or you get the email avout updating your income. It's possible they used the same HP for increase. But IME it was a HP for the app EX for me. And a HP for CLI 5 mins after acct. Opening on EX also.

Your internal score will be on the denial sheet for the increase when it comes in the mail. It will say like Chase acquisition score or Chase risk score...etc. Something like that. The score will be different than your Fico score.

[12njoy]

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@Anonymous wrote:

  Last week I had pre quals with cap1 for venture & qs visa, apprvd for QS declined for Venture. Emailed the EO. Got a call today, nice chat but still declined for Venture. Will try later Venture has decent SL.

@I also like the Chase Freedom, 5% rewards; app'd and got the awful 7-10 mssg, called right away & was approved after answering alot of questions. CL is 1k?! Requested to talk with someone about an increase.. they asked even more questions & the SL stays the same for now. Not sure why it's so low, my income is decent. My scores are lower due to acquiring several cards since July. When they ask why you want a higher limit what do you say? I said I had a purchase in mind ( which I don't.) I have the Chase Amzn Visa  and have a money market acct @ Chase. Not sure how Chase works when it comes to credit limits but for me they have been kinda stingy.

But, I ended up with an approval so that's a good outcome!

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Congrats on approval and sorry to hear about cli.  As others have said the cli request was most likely a HP.  It was good that you actually got the card with several new account openings since July because Chase has a new policy on their branded cards.  IMO if you want higher limits with chase, use the card for 6 months and apply for another chase card as opposed to a cli.  Chase has refused to increase my CSP beyond 10k (had card almost two years now) but have given me 7 (yes 7) new chase cobranded cards in 10 weeks time.  These 7 new cards total $61,600.  I'll take that all day any day.  Good luck with your Chase pursuits.

[Anonymous]

Congrats! How many new accounts have you opened in 2 years? Are they reporting to the bureaus yet?

I ask because Chase has been denying anyone with more than 5 new accounts in 2 years.

[Anonymous]

Thanks for the excellent input\ info. you guys, appreciate it.

I have opened 10 - 11 new accts since last summer, plus the 2 existing CC's I have had. 

Reading what you guys said, I guess I'm surprised they even approved me.

I just talked with them again today because I was having a hard time understanding the lady yesterday, I think from India. She kept asking for my income ( I have an outside job and home based business) she said I had to pick one?? The recon was not going right.

And I  also wanted to know if the requested cli was hard\soft pull.

The man today said this: too many inq's. and one bad were the reason for the 1k SL and he didn't know if the cli reqest was soft or hard pull?

How can he not know? He was cold & un friendly. First time I've had anyone with such a bad attitude.

Njoy; I don't plan on opening any more Chase cards ( I have 2 now. )  I can't juggle them all like you ..it's an art!

Freedom is a good card, I'll  make it work.

[12njoy]

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@Anonymous wrote:

Thanks for the excellent input\ info. you guys, appreciate it.

I have opened 10 - 11 new accts since last summer, plus the 2 existing CC's I have had. 

Reading what you guys said, I guess I'm surprised they even approved me.

I just talked with them again today because I was having a hard time understanding the lady yesterday, I think from India. She kept asking for my income ( I have an outside job and home based business) she said I had to pick one?? The recon was not going right.

And I  also wanted to know if the requested cli was hard\soft pull.

The man today said this: too many inq's. and one bad were the reason for the 1k SL and he didn't know if the cli reqest was soft or hard pull?

How can he not know? He was cold & un friendly. First time I've had anyone with such a bad attitude.

Njoy; I don't plan on opening any more Chase cards ( I have 2 now. )  I can't juggle them all like you ..it's an art!

Freedom is a good card, I'll  make it work.

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Sounds like a plan.   That was just a suggestion if you were looking for a higher credit line from chase.