Credit Line Increase Declined - Chase Sapphire Preferred

[joeyv1985]

They denied me an increase today. I've had this card for more than 2 years, and since then my FICO scores have gone from the low 700's to 794-806. When I first applied for this card, I was denied, but I used the "back" channels to get the approval. The limit then as it is now, was for $5K.  The CS rep told me I'll receive a letter in about 10 days on why I was denied. For the record, I had a collection with them years ago that has since been removed from my record. I'm guessing that their internal records still show this. Also, my credit utilization across all cards is at about 1%. I got a car loan back in December, however, all my bills are paid on time. Early even. Any thoughts on what happened and how I can get an increase? I'm only looking to bring the total limit to $10K. Sorry if this has been discussed in another thread. 

[FinStar]

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@joeyv1985 wrote:

They denied me an increase today. I've had this card for more than 2 years, and since then my FICO scores have gone from the low 700's to 794-806. When I first applied for this card, I was denied, but I used the "back" channels to get the approval. The limit then as it is now, was for $5K.  The CS rep told me I'll receive a letter in about 10 days on why I was denied. For the record, I had a collection with them years ago that has since been removed from my record. I'm guessing that their internal records still show this. Also, my credit utilization across all cards is at about 1%. I got a car loan back in December, however, all my bills are paid on time. Early even. Any thoughts on what happened and how I can get an increase? I'm only looking to bring the total limit to $10K. Sorry if this has been discussed in another thread. 

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You'll have to wait for the letter to address the specific reasons. Potentially, depending on what they list, you can try the reconsideration approach, if anything. Just keep in mind that they may do another HP for reconsideration.

[joeyv1985]

I just got off the recon line with Chase. Reason for denial was too many inquiries. I was looking for a BLOC for my business and they did a couple of hard pulls, couple that with a car loan that I got back in December......This is what scared them. However, the person that I spoke to said the people in that department who make those decisions are really backed up and my call bounced to her. She suggested calling later to get someone on the line. Bummer. There's still hope I guess. 

[joeyv1985]

Good news! I logged into the Chase app this morning, and low and behold they bumped up my credit limit from $5K to $10K. I guess the squeeky wheel does get the grease. I spoke to someone on the recon line the other day, and I answered a handful of questions. He mentioned that he was going to send my case to someone above him and it would be best if I check the app in the next 7-10 days for any messages or to see if I was able to get the increase. I guess the manager that he gave my information to saw enough to warrant the increase. 

[babygirl1256]

Congrats on your Chase Sapphire Preferred CLI . . . sometimes we have to escalate our issue to management so great work!!! 

[joeyv1985]

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@babygirl1256 wrote:

Congrats on your Chase Sapphire Preferred CLI . . . sometimes we have to escalate our issue to management so great work!!! 

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thank you.