Hi, I am looking for some advice, I did not see a credit increase button on the account on any of my chase cards, so I figured it'd been two years since I got my JP Ritz Card right so I ask for a 5000.00 increase to take the card to 20k. So the first person verified all of my info they advised that this will be a hard pull because I initiated it vs. them I guess just giving the increase.
I authorized them to move forward with my request, so the guy puts me on hold and comes back saying that everything looks good but that he would need to transfer to lending. I said sure go ahead, well I get on with the new person, and they are acting as if the other conversation never occurred asking me the same information all over again. Now we get to the part where he says okay can I put you on hold while I pull your report. The guy comes back and is a different person, and he starts talking like I am getting interrogated or something. I can deal with this however when he would ask a question while I am in the middle of responding he starts talking over me moving on to the next like he has to rush. He then says okay what is your salary I said 95k which is correct, and he then says well you have almost 100k in available credit between all bankcards based on your credit report that you are not using.
I advised yes is that bad, I like to keep things paid off and use the card that works for me at that moment. This guy said well you make 95k and you have 100k of available credit that is high compared to your income. I said okay, so you are penalizing me for having not over utilized and you will penalize me if had utilized to much which is it. The rep then says that's the way it goes. I am done :-) really! Okay so he goes back in on my income I told him I bank with Chase, I have three checking and one savings you can see what is deposited every two weeks there should be no question. He pulls up the bank account and says it checks out however we can't give you the increase because you have too much credit available regardless if you are trying to utilize your Ritz card more you have other cards with large amounts of credit. I was like really okay not true as only like three of them have high CL's the others are like 4-5k come on. He then goes in on some spill, and I stopped him said right I am penalized because I am trying to be responsible and only use specific cards and pay them off. I then told him thanks, and we ended the call. I am debating if I should just cancel I pay a heavy AF for this card and not to use it to the fullest is nuts. All because I want to stay under 30% when charging those dang nice hotels they have for a family vacation which will total 5600 for my wife and kids. Oh well if anyone can offer advice for the future where did I go wrong?
@TrialByFire wrote:
5600/15000 is only 37% util on that one card which is not a big deal in terms of scoring or how Chase views your relationship with them. From a risk analysis standpoint I can understand what the rep was thinking. But since you already took the HP you might as well recon
See exactly I wanted to stay under 30% it seems all credit forums say stay under that which is why I asked, I mean come on but it's fine like I told the guy I spoke with I will be back.
@austinguy907 wrote:Yet another strike against Chase practices. Eveyrone sings their praises but, when it comes down to it they're difficult to work with. If you're using credit correctly there shouldn't be an issue because they're notorious for putting a hold on your CC if you sneeze the wrong direction and they might think something is up. I've yet to hear any pushback on income vs CL's from any of my cards and I'm north of 200K on CL's at this point. I guess this plays into the quality over quantity when it comes to selecting lenders to work with. It's sad that they won't budge to an even 20K on a limit when they dish out 30K+ on new apps all the time. Not to mention you could take that AF and get a better card to work with the same or better perks somewhere else like AMEX.
This is why I didn't think it would be an issue one its the ritz card , two I see folks all the time saying they got 30k or 50k starting yet I am asking for nowhere near that and everything I have is through chase My mortgage, checking, savings and yet I can't get to 20k. It was upsetting but I am at this point over it. I
@CreditMagic7 wrote:Danged if you do and danged if you don't.
It's like a tightrope walk where there is almost never a happy median between the two.
What I mean is you make the effort to keep usage/balances in check to a threshold and still catch scrutiny over not using enough.
In my case, after making use of several cards but still less than <50% of them with balances (until I zilch them off), Mr FICO scolds (codes) with the "too many accounts with balances" rub.
It's like on the one hand you try to please the lender with usage while at the same time keeping from crossing the FICO line but still catch crap.
Appreciate that you shared this experience. It must really be frustrating running up against such sticklers like that sometimes.
Thank goodness all lenders aren't always so picky?
Agree 100% I actually told the lending guy that so I am daumed if I do and daumed if don't really! I think the guy was being a butthole I remained calm made my case and well he won in the end with me basically getting shut down. This is why I really hate talking to these guys you might get a good experience with one bank and then another has you feeling like crap after the call. I could see if I was in bad shape credit-wise but my scores are all over 720 and the one negative I had was a late 2yrs ago and he advised that it wasn't an issue. I know it is a game I was just had a bad dealer and lost.
@BronzeTrader wrote:This was the kind of answer I got when I applied for my Unlimited CC last month. I was declined because I was within the 5/24, I have total of 6 Chase CCs with total CL of $150k. When I called them, I told them I wanted the Unlimited rewards, which I've never had before. The rep told me I already had too much credit with them, so I offered to use my existing CLs. Then I moved $10k to the new Unlimited card since the rep said I had to have at least $5k to have the Visa Signature CC.
In your situation, you should try to move your existing CL from other CCs to the one you want. They will be happy to do so. I hardly use my IHG and Amazon cards, but prefer to keep them.
Good luck.
The problem is I have four cards with Chase. However, the reference to the total avail credit that they were referring to was across all lines of credit meaning other banks not just with Chase. I have no problem moving the credit lines over my issue with that is I use my Sapphire Preferred and Freedom Unlimited due to the excellent reward benefits we get.