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Disappointed by Low Chase Slate Starting Limit (Update: Increased Limit!)

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Established Member

Disappointed by Low Chase Slate Starting Limit (Update: Increased Limit!)

Hi all,

 

I have been paying down debt that I've had lingering for some years now, now that I have a job and steady income. I initiallly had planned to really improve my utilization by paying down debt and increasing credit lines on my existing cards, and I did both, lowering my utilization from 78%, to where it is now, at 37%, and I haven't used my cards in all of this process. My FICO 8 is 730 currently.

 

I was planning on using the improved FICO scores to get some good no fee balance transfer offers (for the remainder of my debt), and my first try was Chase Slate - They approved me, but gave me a measly $1700 SL. When I did the application, I did not fill out the balance transfer section, as I thought I could do the balance transfers once approved, and so I'm not sure if that had anything to do with the low SL (the rep said they didn't know either).

 

So, I called the Chase recon line I found somewhere here, and it somehow just got me to Chase Lending Services (maybe it was an old number?), where the person there just transferred me to generic customer service line, who was obviously following a script. Anyway, there wasn't much she could do, other than try a CLI, which would cost me another HP - I did, and it was/is pending and that's where I stand...It's just frustrating to work so hard (and spend so much money) on your credit score, and not get rewarded.

 

Also, just as an FYI: The number I used to call was 1-888-270-2127, which is listed as the Chase Recon Line by a lot of sites.

Message 1 of 18
17 REPLIES 17
Established Contributor

Re: Disappointed by Low Chase Slate Starting Limit

Chase Slate is semi notorious for low limits. My wife applied several years ago as a balance transfer card and was approved with a 2k limit with scores in the low 800's and a 6 figure income.

 

The good news with Chase though is it is easy to move limits around with their cards. Do you have another Chase card you could move limits from to the Slate?

Amex Delta Platinum 20k | Amex Hilton Aspire 20k | Bank of America Premium Rewards 21k | US Bank Cash+ 25k | Chase Amazon Prime 25.3k | Lowes 35k | Barclaycard Aviator Red 40k | Chase Marriott 50k | Discover It 50.3k | Thank You Premier 52K | EDP 56k | Bank of America BBR 78.9k
Message 2 of 18
Valued Contributor

Re: Disappointed by Low Chase Slate Starting Limit

Do you have other Chase cards? 

 

Often times they will see previous data and feel you're still too much of a risk coming out high util so soon. 

You should have searched for recon numbers on this sight in the backdoor number thread, then you would have been able to speak to UW directly. Asking for a CLI so soon with Chase, and depending on why they were only compfortable giving you $1700 CL. It will be interesting to see which way it goes.






Message 3 of 18
Established Member

Re: Disappointed by Low Chase Slate Starting Limit

Thanks for the reply - Yes, it looks like I made a mistake by requesting a CLI instead of hanging up, and trying another phone number to get an actual recon line - Part of this I guess is my inexperience with this. The CS agent said the CLI was the only thing she could do, so I guess in my dumb mind, I thought it was the same thing as a recon, and just went ahead with it. I'm guessing it's too late to try to recon, since I already requested the CLI? I applied a few hours ago.

Message 4 of 18
Frequent Contributor

Re: Disappointed by Low Chase Slate Starting Limit

Chase has tempted me for years to apply for Slate.  But, If I wanted to get a good BT card, I would look elsewhere with a different lender.  The well-known sore thumb about Slate is, for it being a BT specific card, Chase isn't generous with SLs.  A bit of an oxymoron to me.  Plus, Chase doesn't allow balance transfers amongst its own cards.  Sorry to hear about your curious circumstance, OP.  Perhaps the second HP will double your limit?    



Message 5 of 18
Established Member

Re: Disappointed by Low Chase Slate Starting Limit

Yeah, I'm hoping that I get anything additional, although honestly I'm kind of expecting not to...On the fact that people with even higher credit scores also got small SL's. As far as I know, Chase Slate and AMEX Everyday are the main balance transfer cards without BT fees.

Message 6 of 18
Moderator

Re: Disappointed by Low Chase Slate Starting Limit


@leo222 wrote:

Hi all,

 

I have been paying down debt that I've had lingering for some years now, now that I have a job and steady income. I initiallly had planned to really improve my utilization by paying down debt and increasing credit lines on my existing cards, and I did both, lowering my utilization from 78%, to where it is now, at 37%, and I haven't used my cards in all of this process. My FICO 8 is 730 currently.

 

I was planning on using the improved FICO scores to get some good no fee balance transfer offers (for the remainder of my debt), and my first try was Chase Slate - They approved me, but gave me a measly $1700 SL. When I did the application, I did not fill out the balance transfer section, as I thought I could do the balance transfers once approved, and so I'm not sure if that had anything to do with the low SL (the rep said they didn't know either).

 

So, I called the Chase recon line I found somewhere here, and it somehow just got me to Chase Lending Services (maybe it was an old number?), where the person there just transferred me to generic customer service line, who was obviously following a script. Anyway, there wasn't much she could do, other than try a CLI, which would cost me another HP - I did, and it was/is pending and that's where I stand...It's just frustrating to work so hard (and spend so much money) on your credit score, and not get rewarded.

 

Also, just as an FYI: The number I used to call was 1-888-270-2127, which is listed as the Chase Recon Line by a lot of sites.


Even if you had filled out the BT form, the assigned SL wouldn't have been influenced by the amounts of the transfers.  So, there was something about your overall profile that Chase likely felt to limit its exposure which would also include income/DTI.  Is there a history or pattern of late payments in the past 24 months?  How long have you been carrying the high utilization?   Any installment loans with balances?

Message 7 of 18
Moderator

Re: Disappointed by Low Chase Slate Starting Limit


@leo222 wrote:

Yeah, I'm hoping that I get anything additional, although honestly I'm kind of expecting not to...On the fact that people with even higher credit scores also got small SL's. As far as I know, Chase Slate and AMEX Everyday are the main balance transfer cards without BT fees.


If the CL on your Chase online profile doesn't change within the next 72 hours, then it's likely the original SL will remain. 

 

Are you a member of any credit unions?

Message 8 of 18
Established Member

Re: Disappointed by Low Chase Slate Starting Limit

Yes, I'm with Logix FCU.

 

Regarding my credit profile, I have paid off a substantial amount of debt lately - My UTL was much higher, but is now at 37%. I obviously would like that to be lower, but that is the progress I've made, and is where I'm at right now. Obviously, 0% APR/0 fee BT's will help me get that to that zero number quicker.

 

Re: installments...I also have about $1300 of student loans remaining.

Message 9 of 18
Valued Contributor

Re: Disappointed by Low Chase Slate Starting Limit


@leo222 wrote:

Yes, I'm with Logix FCU.

 

Regarding my credit profile, I have paid off a substantial amount of debt lately - My UTL was much higher, but is now at 37%. I obviously would like that to be lower, but that is the progress I've made, and is where I'm at right now. Obviously, 0% APR/0 fee BT's will help me get that to that zero number quicker.

 

Re: installments...I also have about $1300 of student loans remaining.


Did that debt report to the CRA before you app'd?

Message 10 of 18
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