Chase CLI Question

[ScarlettHusky]

About 2 months ago, I added my roommate as an AU to my Disney premier Visa since we both go to the parks together every couple months. He uses the card for whatever, and then sends me money via Zelle to pay me back for whatever he bought on his next payday. With him using the card as well, there has been a large spike in usage on the card (I used to pull in $5-7 a month in rewards on the card, after adding him as an AU I now pull in $15-20 a month in rewards on average). My card is coming due for a CLI request later this week, and in the past I've only ever put in my own annual income ($65,000). Should I update my "income" on the Chase app/site to include his annual income ($114,000) since he also uses my card now? I want to help better the odds of me being approved for a CLI, and I'm unsure if the spike in activity alone would be enough.

I pay the statement balance in full every month. I had a previous Chase card that I allowed to get CO'ed when I was yound and dumb with credit, and have been slowly showing Chase that I learned from my past mistakes. When I initially was approved after reconning, I was approved for $2,000 which was raised to $3,000 when I applied (and reconned) for a CLI after 90 days / 3 statements. I'm fairly confident at getting an approval for a CLI even if I have to recon with an anaylist again, but want to take the steps to maximize my chances before submitting the request later this week.

[CorpCrMgr1]

I would not include the income of another. You could not prove that is your income if Chase requested proof of your income.

[dahx]

How many inquiries on TU / EX and new revolving accounts within the past 2 years?  Chase has a 5/24 rule (I don't recall if cli counts toward that, if so, definitely bigger bang for the buck to app for a new card). It might be better to seek approval for a new card and then move some CL later. Amazon visa signature by Chase might be easier to get and start with a higher CL, especially after you've built some positive history. 

How much positive history does one need before apping for a new card? I want to say 3 to 6 months minimum, but I'm still newbish.

[GreatLife]

TBH this sounds like one of those roomate situations that we could someday end up watching on a Judy Justice or Peoples Court tv show.🫣

Nonetheless..unless the roomate is your actual tenant and pays documentable monthly rent directly to you then don't include his income.

IMO the additional rewards aren't worth risk of raising a red flag by increasing your income then requesting a 2nd CLI within 1-year of a card that required recon for initial approval. Even if all appears ok, Chase might start regularly monitoring & scrutinizing your CR's then AA if you encounter a future temporary element that they don't like, such as a utilization spike or minimum payments on other cards.

Have you considered sending roomie a Chase recommendation link from your account so that he can apply for his own card?

[dahx]

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@GreatLife wrote:

IMO the additional rewards aren't worth risk of raising a red flag by increasing your income then requesting a 2nd CLI within 1-year of a card that required recon for initial approval.

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On second thought, this makes sense. Revisiting the scores and situation, it's probably best to garden for a year and go easy on the card. With your scores, I must assume you have a very young history, or something weighing it down.  

Soften up Chase's butter before spreading it. 

[GreatLife]

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@dahx wrote:

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@GreatLife wrote:

IMO the additional rewards aren't worth risk of raising a red flag by increasing your income then requesting a 2nd CLI within 1-year of a card that required recon for initial approval.

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On second thought, this makes sense. Revisiting the scores and situation, it's probably best to garden for a year and go easy on the card. With your scores, I must assume you have a very young history, or something weighing it down.  

Soften up Chase's butter before spreading it. 

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Well said and agree with you. Plus there's a former Chase CO and adding an AU. I would be doing everything possible to stay off their radar for awhile..

[JoeRockhead]

Chase, like many other lenders will allow you to list all household income you have reasonable access to. What constitutes "reasonable access"? Having a joint a bank account, being married, and/or living together could all easily constitute reasonable access. How likely are they to ask for proof of your new increase in household income, I can't answer but, them asking for POI is always a possibility. If that's not a problem for you, or the roommate, so be it.

The bigger scenario to strongly consider (and be prepared for) would be what happens if the roommate is no longer in the fold. It should go without saying that regardless of the situation, or promises made between you and the roommate, the responsibility of the account falls solely on you.   

[JoeRockhead]

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@GreatLife wrote:

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@dahx wrote:

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@GreatLife wrote:

IMO the additional rewards aren't worth risk of raising a red flag by increasing your income then requesting a 2nd CLI within 1-year of a card that required recon for initial approval.

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On second thought, this makes sense. Revisiting the scores and situation, it's probably best to garden for a year and go easy on the card. With your scores, I must assume you have a very young history, or something weighing it down.  

Soften up Chase's butter before spreading it. 

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Well said and agree with you. Plus there's a former Chase CO and adding an AU. I would be doing everything possible to stay off their radar for awhile..

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The only things I'll disagree with here is there's nothing wrong with adding an AU, or doing anything to stay off Chase's radar... Once approved for a Chase card, you're on their radar. They are well known for regularly keep tabs on one's credit, they're very well aware of the past CO, and the usage of the current account (as well as all other accounts on your credit reports). The past CO, combined with the lower scores are very likely the reasons the OP has had to go through recon. They've forgiven the past CO enough to give another approval yet they're still on the fence/hesitant so to speak with loosening the reins.

Chase, on the other hand can be very generous with auto CLIs if they see fairly significant spend combined with regularly PIF and good behavior with the rest of your credit. 

Going for another CLI is OK, all they can do is say no.... if so, you try again at some point down the road.

[dahx]

I find it interesting that bofa and chase didn't pull lexis, but amex and discover are. I think I recall, altho not certain, that chase soft? pulled chex (I may be misremembering here, I'd check if I could remember where I put the papers )