Will AMEX or Chase Raise CL at Time Of Approval?

Repairman · ‎02-09-2021

I have a large purchase coming up that I would like to put on a 0% interest card. I am planning to apply for either another AMEX or a Chase card with 0% intro offer.

I don't currently have any Chase cards but I do have an AMEX with a substantial credit line. I'm wondering if I were to apply for a new AMEX card or a Chase card and the given limit is too small, do I have any options? Are either one of them open to cli requests immediately after approval? I know about the Amex 3x CLI thing, but would they stray from that with immediate recon call depending on the situation? If not, can it be reasonably presumed that they would allow me to instantly move some of my existing CL from my previous card, over to the new one? I would just hate to waste the inquiry and/or intro APR offer on a new card with AMEX or Chase and not be able to actually use it for the purpose of which I got it...even if approved. Either one more likely to help if needed?

Anonymous · ‎02-10-2021

It's my understanding that if you are a current AMEX cardholder, then the new application will be a soft inquiry should you choose to apply. I'm not familiar with the instant CLI.

coldfusion · ‎02-10-2021

If you don't like the credit limit granted you can call and request a reconsideration. Odds are greater with Chase than with AMEX that there would be an additional hard pull.

One other option is if you have held your current AMEX CC for at least 13 months you can shift over some of its credit limit over to a new AMEX CC, even if they are in different product families, with the caveat that you cannot shift limit from a business card to a personal card.

Because there was a followup comment made I will reiterate that claims that it is an incorrect assertion that an existing AMEX cardholder will only take a soft pull when applying for an additional card. In many cases that is true but HPs are NOT rare and there are a number of members here who have experienced that firsthand.

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K-in-Boston · ‎02-10-2021

Just to piggyback on coldfusion's post, the requirement for the "donor card" to be of a certain age seems to have been eliminated in recent years, although it is still subject to certain criteria such as a minimum credit line for the account, current balance and outstanding authorizations, and a 30 day moratorium between requests.

Repairman · ‎02-10-2021

@Anonymous wrote:
It's my understanding that if you are a current AMEX cardholder, then the new application will be a soft inquiry should you choose to apply. I'm not familiar with the instant CLI.

Yes, thanks for your response. I am also under the understanding that it is usually but not always, a soft pull with AMEX, however, with AMEX specifically, I would hate to waste a 0% APR offer that I wouldn't need if the limit is too small.

Repairman · ‎02-10-2021

@coldfusion wrote:
If you don't like the credit limit granted you can call and request a reconsideration. Odds are greater with Chase than with AMEX that there would be an additional hard pull.

One other option is if you have held your current AMEX CC for at least 13 months you can shift over some of its credit limit over to a new AMEX CC, even if they are in different product families, with the caveat that you cannot shift limit from a business card to a personal card.

Because there was a followup comment made I will reiterate that claims that it is an incorrect assertion that an existing AMEX cardholder will only take a soft pull when applying for an additional card. In many cases that is true but HPs are NOT rare and there are a number of members here who have experienced that firsthand.

Thanks. My AMEX is more than several years old and it is a personal card, as is the card I'd like to apply for.

Repairman · ‎02-10-2021

@K-in-Boston wrote:
Just to piggyback on coldfusion's post, the requirement for the "donor card" to be of a certain age seems to have been eliminated in recent years, although it is still subject to certain criteria such as a minimum credit line for the account, current balance and outstanding authorizations, and a 30 day moratorium between requests.

What are the minimum credit line and current balance criteria? As of now, I do have a balance sitting at 10% utilization.

K-in-Boston · ‎02-10-2021

The minimum you can leave on a card is the minimum credit limit for that product (varies by product, higher AF cards will have higher minimums - can be as low as $500 although YMMV) plus the amount of any current balances and any authorizations for charges that have not yet cleared.