Chase is Dead to ME...What has been your experience with them???

[Anonymous]

After remaining dormant for a little while since my AMEX Cash Magnet 10KSL approval I finally caved and apped for the Unlimited Card from Chase.  I thought I paid off a car loan and have a Chase Freedom card for 5 years no balance and a low $3, 850 that got one AUTO CLI (a novelist would call this forshadowing). 

Approved!!! Yay....gotta love those instant approvals.   SL $500   Wahhh Wahhh.   I have not had an SL this low since 7 years ago when I started applying for credit.

They use an internal scoring system called Card Aquistion Score V2  I had a score of 783 on a scale of 250-900.   They do not use a Fico Score.   My Equifax Fico was 715 at the time they pulled it with zero late payment or baddies.  Credit Utilization under 30%.

I HATE how every CLI is a HP from Chase.  I called to explain my frustration and got the normal spill about sure we can do a credit limit increase with another HP.   I politely said no Thank You.  The best part was closing my account took the guy all of 2 mins with no resitance what so ever!.....I feel baffled but relieved...I will never go back to Chase.   

[CreditInspired]

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@Anonymous wrote:

After remaining dormant for a little while since my AMEX Cash Magnet 10KSL approval I finally caved and apped for the Unlimited Card from Chase.  I thought I paid off a car loan and have a Chase Freedom card for 5 years no balance and a low $3, 850 that got one AUTO CLI (a novelist would call this forshadowing). 

Approved!!! Yay....gotta love those instant approvals.   SL $500   Wahhh Wahhh.   I have not had an SL this low since 7 years ago when I started applying for credit.

They use an internal scoring system called Card Aquistion Score V2  I had a score of 783 on a scale of 250-900.   They do not use a Fico Score.   My Equifax Fico was 715 at the time they pulled it with zero late payment or baddies.  Credit Utilization under 30%.

I HATE how every CLI is a HP from Chase.  I called to explain my frustration and got the normal spill about sure we can do a credit limit increase with another HP.   I politely said no Thank You.  The best part was closing my account took the guy all of 2 mins with no resitance what so ever!.....I feel baffled but relieved...I will never go back to Chase.   

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There is a very slight possibility that they thought you already have enough credit and that you wouldn't be putting any or minimum spend on a new card. Just my 2cents.

[Anonymous]

Looks like you forgot to edit your signature.  If Chase is dead to you there's no reason to keep the older Chase Freedom card.

[Anonymous]

Good for you. If Chase doesn’t work for you, cut them loose. I have a hatred of them too.

You might not get much support here though.

[Anonymous]

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@Anonymous wrote:
Good for you. If Chase doesn’t work for you, cut them loose. I have a hatred of them too.

You might not get much support here though.

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I'm not a fanboy of Chase but, I also don't see the point of blasting a lender over a low CL approval.  It happens and it's a fact of llfe. There's a bit too much drama when you think you're king of the hill and get your ego hurt by a small approval.  I didn't like Cap1 either keeping me at $1500 CL for several years and just simply replaced them with someone else and kicked them to the curb in the process.  Every lender will have those bad reviews of getting stiffed on a CL when opening a new CC.  How you handle it is more important.  Chase or Cap1 or pick your lender don't really care about your feelings since it's just business for them.

[Anonymous]

Hahah...so true.  Thanks!

[FinStar]

I would like to remind everyone of the forum rules for posting.   All posts must conform to the Friendly, Supportive and Respectful guidelines.   No exceptions.  

[kdm31091]

There are many banks that do HP for CLI, so that isn't at all exclusive to Chase. For most customers it's not much of an issue as one HP is no bg deal unless you are constantly applying for things.

Honestly Chase is not really known for CLI results. That doesn't mean you will never get one, but in general asking for a CLI from Chase isn't usually worth it, especially not a new account. If anything I would just use it for 6 months with the limit it has since the damage is done from opening the account. At that point you would at least have some positive history on the account and be in a better position to request an increase, but again, not Chase's general lending practice to give liberal CLIs.

[Anonymous]

I admit I was venting a bit but I had good intentions and posted some very useful analytics for future applicants.

I am sorry Capital One has been such a pain for you. Earlier in my credit journey I had a simliar situation where they kept my Capital One Platinum card at a static limit forever.   I did some reserach on this forum and found that for certian card products they do not hardly ever do CLI.   The solution was to apply for one of their more premier cards like the Venture Card.  I got a very large SL but here is the best part...with Capital One you can roll over your existing Credit Lines to another card and I was able to roll over my existing credit line to my New Venture Card and closed my other account.  I did all this online without every speaking to a rep too!!!

a negative is they always pull all three credit bureaus.   

This is the best Credit Forum hands down!!!!  Let me Vent dude these are my people. 

[Anonymous]

MEH.... I'm not worried about Cap1.  It would be nice to get the $500 SUB from them on Savor but, that's not going to happen even with 800+ scores at this point.  It is what it is and life goes on.  3 HP's isn't a big deal at this point in my journey.