Re: Declined for Chase CLI

Anonymous · ‎12-10-2017

Hello,

Today I applied for a CLI with Chase (1k current 5k requested). It was declined due to things on my credit report. I am slightly frustrated with this because I got my chase cards to try and start getting rewards while also repairing my credit. I have both the freedom and the freedom unlimited. I used to put a bunch through both of these cards paying off multiple times a month on each, however I got tired of using it, paying it, waiting a day or two for it to post, using it, paying it, waiting a day or two for it to post, etc etc. So I kept using it, but stopped paying it off as often so my utilzation isn't currently as low as it used to be. I'd mainly like to use it so I only have to pay it off once a month or buy a big ticket item if need be. Should I call recon (I don't have the number for that) or just pay them down and try again in a few months?

Anonymous · ‎12-10-2017

Generally speaking, it's worth doing CLI requests or apps on a weekday during business hours so you can immediately call for recon. Not sure how Chase's recon works on weekends (or at all).

We need some data points here:

How long have you had the card?
What's your highest limit card from any other bank (not credit union or store card)?
What's your REPORTED utilization on your most recent report pulled, including aggregate utilization and any cards over 28% utilization?
What is your score change in points (utilization related I assume, but maybe AAoA or inquiries?)
What derogatories do you have on your credit report (lates, public records, chargeoffs, collections?)
What report did they hard pull?
How many new accounts did you get in the past 24 months? Chase seems to consider new accounts when doing CLI requests as shown in this thread here.

K-in-Boston · ‎12-10-2017

CLIs on Chase cards can be notoriously hard to get for some people. You can certainly call the recon line found in the backdoor numbers thread, but without seeing your current cards, limits, utilization, scores, etc. it's hard for us to even tell you if that would be an almost certain no. Most of us have found that opening a new account with Chase and reallocating credit lines has been more more productive. I was denied for a CLI on my 10-year old Freedom card which was at $4200 on New Years Eve, and two minutes later got approved for a Sapphire Preferred with a $12k starting line and a few months later for a Slate with a $3500 SL. When you log into your account, go to the Offers page and see if anything has a green checkmark. Those would be near-guaranteed approvals (the only denials from there I've seen on these forums is when someone opened another Chase account very recently).

Anonymous · ‎12-10-2017

1. I don't remember the exact time I got the card but it was before thanksgiving last year.

2. My credit union card that I don't use at all is 5k.

3. Both of my Chase cards currently have about 50% utilization on them from use this month, aggregate would be lower because of the credit union card and two other lower limit cards I have had for years.

4. Score change from when? When I opened the cards? It's has gone both up and down since. I had an issue with my credit union over a payment that wasn't late but got reported late but it got taken care of, otherwise it's probably been around the same. (I don't remember what the exact score was over a year ago)

5. I have lates from student loans over a situation that occured when I moved after I left college, that they refuse to remove and I don't think the reporting agencies would side with me, so I'm letting time heal. Other than those no lates.

6. I'm assuming experian I haven't gotten the documentation.

7. I guess technically both of those are new accounts in the last 24 months, but that is it.

Anonymous · ‎12-10-2017

I have the two cards previously mentioned, a Capital One Quicksilver with 0 utilization that I got when I first started rebuilding my credit, and my credit union card that was mentioned previously. I don't think Chase will give a sapphire quite yet (score is still in the 640's). I just wanted to use the freedom unlimited for Christmas shopping without having to pay it down every time I go shopping. I guess at this point I am just frustrated that trying to repair my credit seems to go nowhere no matter what I try and banks won't give me the time of day because of it. Sorry for the short rant.

K-in-Boston · ‎12-10-2017

With the scores and the student loan lates, it may be a while before a CLI is possible.

Anonymous · ‎12-10-2017

Honestly the student loan lates are about five years old so they're about to drop off anyways. Just frustrating when you feel like you can't get a leg up on being more of an adult.

Gmood1 · ‎12-10-2017

Ah don't sweat it, you just attempted a CLI with one of the toughest banks to get them from. You aren't beaten yet! I have never received a CLI from Chase.
Easier to app and be approved for another card IME with them.
Personally I'd grab something from a different bank, if I were you.

Do you have a positive installment loan reporting? If not grab a shared secured loan before you go any further. That will bump your scores a bit.
What you need are instant approvals by computers not the manuals given by human eyes right now.

Anonymous · ‎12-10-2017

rhood133 wrote:

1. I don't remember the exact time I got the card but it was before thanksgiving last year.
2. My credit union card that I don't use at all is 5k.
3. Both of my Chase cards currently have about 50% utilization on them from use this month, aggregate would be lower because of the credit union card and two other lower limit cards I have had for years.
4. Score change from when? When I opened the cards? It's has gone both up and down since. I had an issue with my credit union over a payment that wasn't late but got reported late but it got taken care of, otherwise it's probably been around the same. (I don't remember what the exact score was over a year ago)
5. I have lates from student loans over a situation that occured when I moved after I left college, that they refuse to remove and I don't think the reporting agencies would side with me, so I'm letting time heal. Other than those no lates.
6. I'm assuming experian I haven't gotten the documentation.
7. I guess technically both of those are new accounts in the last 24 months, but that is it.

It's not a good idea to ask a creditor for a CLI when you have 50% utilization on their cards.

Your score is also too low.

Credit-hoarder · ‎12-11-2017

@Gmood1 wrote:
Ah don't sweat it, you just attempted a CLI with one of the toughest banks to get them from. You aren't beaten yet! I have never received a CLI from Chase.
Easier to app and be approved for another card IME with them.
Personally I'd grab something from a different bank, if I were you.

Do you have a positive installment loan reporting? If not grab a shared secured loan before you go any further. That will bump your scores a bit.
What you need are instant approvals by computers not the manuals given by human eyes right now.

+1. Don't waste HPs trying to get the limited up on a low limit card with Chase--I tried this a few times with my now 3.5 year old $1500 Freedom a couple of times (but not in the last 2 years) and it resulted in me getting grilled by Chase loan officers and still ending up with a denial. Get your UTL down and your scores up and app for another core card in hopes of a higher CL and better APR...that's what I'm going to do late next Summer when I'm under 5/24 again and if successful I'm going to ditch that $1500--23.49% APR Freedom.