I have a Chase Freedom Unlimited card with a $500 limit.
I've been maxing my card out since I opened the account in December 2021. I want to know if Chase does automatic increases? I read that they tend to review cards every 6 months and I want to know my chances. I don't want to request an increase because of the number of my inquiries.
Please advise and TIA!
@Remedios wrote:They do sometimes but not at set intervals such as 3, 6, 12 months etc.
Unfortunately, $500 with Chase is barely "squeezed in", so I wouldn't hold my breath for increase.
It might happen, but it's not going to be life changing amount.
Once you address reasons why your approval was for $500 only, and those reasons are no longer present, you'd probably have better luck applying for another one of their cards (if there is one you could use)
Thank you for your response. When I was approved, they didn't give any reasons for the credit limit. I wish I knew!
@lovebackwards wrote:I have a Chase Freedom Unlimited card with a $500 limit.
I've been maxing my card out since I opened the account in December 2021. I want to know if Chase does automatic increases? I read that they tend to review cards every 6 months and I want to know my chances. I don't want to request an increase because of the number of my inquiries.
Please advise and TIA!
Yes they do auto CLI's. And the best way to get it is to make heavy use of the card and keep paying it off, even multiple times a month. And 6 months is a frequent time for that to happen. So you're on the right track. Just make sure you keep paying it down fast, too.
@SouthJamaica wrote:
@lovebackwards wrote:I have a Chase Freedom Unlimited card with a $500 limit.
I've been maxing my card out since I opened the account in December 2021. I want to know if Chase does automatic increases? I read that they tend to review cards every 6 months and I want to know my chances. I don't want to request an increase because of the number of my inquiries.
Please advise and TIA!
Yes they do auto CLI's. And the best way to get it is to make heavy use of the card and keep paying it off, even multiple times a month. And 6 months is a frequent time for that to happen. So you're on the right track. Just make sure you keep paying it down fast, too.
Yes, I pay it down about every week (at least twice a month). I use it heavily so I'm hoping for an automatic increase.
Thanks for your response. It's really appreciated!
@Remedios wrote:
@lovebackwards wrote:I have a Chase Freedom Unlimited card with a $500 limit.
I've been maxing my card out since I opened the account in December 2021. I want to know if Chase does automatic increases? I read that they tend to review cards every 6 months and I want to know my chances. I don't want to request an increase because of the number of my inquiries.
Please advise and TIA!
Are you rebuilding currently?
Yes, I've been rebuilding since late 2020. I have a few data points in my siggy.
@lovebackwards wrote:
@Remedios wrote:They do sometimes but not at set intervals such as 3, 6, 12 months etc.
Unfortunately, $500 with Chase is barely "squeezed in", so I wouldn't hold my breath for increase.
It might happen, but it's not going to be life changing amount.
Once you address reasons why your approval was for $500 only, and those reasons are no longer present, you'd probably have better luck applying for another one of their cards (if there is one you could use)
Thank you for your response. When I was approved, they didn't give any reasons for the credit limit. I wish I knew!
Well, @Remedios didn't mean that Chase would literally spell out why the limit was so low, they were just saying that $500 is the bare minimum one can get approved for, which means something about your profile made them nervous and therefore led to a low SL.
@Remedios wrote:
@lovebackwards wrote:
@Remedios wrote:
@lovebackwards wrote:I have a Chase Freedom Unlimited card with a $500 limit.
I've been maxing my card out since I opened the account in December 2021. I want to know if Chase does automatic increases? I read that they tend to review cards every 6 months and I want to know my chances. I don't want to request an increase because of the number of my inquiries.
Please advise and TIA!
Are you rebuilding currently?
Yes, I've been rebuilding since late 2020. I have a few data points in my siggy.
You're definitely on the right track.
Good thing is that you got an approval. Even if SL is low, you're building a payment history and improving your internal score with them.
Some $500.00 cards see growth, others do not, so that's why I was asking if you remember reason codes from your approval. They are provided to explain why terms and limit are what they are.
If it was due to existing negatives, that's something time will cure.
Just keep trucking towards your goal card (CSR), and while limit on Freedom isn't what you'd like it to be (totally understandable), think of it as a tool to get to your goal card eventually.
Hopefully you get an increase soon to make your existing card a bit more usable.
Thanks for the helpful advice! It's good to know that I'm on the right track. 