Chase Freedom Auto CLI

[Anonymous]

Hello all,

I'm new here! I found it extremely helpful to read other people's experiences, so I thought I'd contribute my story as well.

Despite my parents' infinite wisdom, I made some poor financial choices during college (the recession years; had a couple c/o's and collections, one of which is still on my report). In 2012, I dipped my toe back into the revolving credit pond and got a Capital One secured card with a limit of $250. I hate(d) that card, and didn't care to properly manage it due to the low limit. But last year I decided to take more control over my own credit. I didn't realize how quickly my score would rise; just two months later the offers started to pour in, mostly from Chase and Citi. After a bit of research, I bit the bullet and decided to apply for the Chase Freedom and got an instant approval w/ a $1,500 limit. I was suprised!

About a week ago I noticed they increased my limit to $2,500! For 6 out of the last 8 statements I've run quite a bit through the card, relative to my limit. Since "revolvers" are more profitable for Chase I thought it would be a good tactic to revolve a lot of my balance while making large payments and charges at the same time, I guess they assume that's what I'll do after the 0% APR promo is over, ha! 

So far, I am really happy with Chase. I know J.P. Morgan is easing lending standards to expand their cc business but I can't help but wonder if they are marketing to victims of the recession who are in the later stages of rebuilding their credit. If so, it's a brilliant strategy to win customer loyalty right out of the gate. While I patiently wait for my next CLI, Citi's website told me I'm prequalified for the Doublecash card with a set APR and the opt-out notice (I think that's a positive sign from what I've read here). I'm going to apply this weekend - my Chase statement cuts tomorrow and I want my report to reflect the CLI and payment I made in order to get the best deal with Citi. 

[Anonymous]

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@Anonymous wrote:

Hello all,

I'm new here! I found it extremely helpful to read other people's experiences, so I thought I'd contribute my story as well.

Despite my parents' infinite wisdom, I made some poor financial choices during college (the recession years; had a couple c/o's and collections, one of which is still on my report). In 2012, I dipped my toe back into the revolving credit pond and got a Capital One secured card with a limit of $250. I hate(d) that card, and didn't care to properly manage it due to the low limit. But last year I decided to take more control over my own credit. I didn't realize how quickly my score would rise; just two months later the offers started to pour in, mostly from Chase and Citi. After a bit of research, I bit the bullet and decided to apply for the Chase Freedom and got an instant approval w/ a $1,500 limit. I was suprised!

About a week ago I noticed they increased my limit to $2,500! For 6 out of the last 8 statements I've run quite a bit through the card, relative to my limit. Since "revolvers" are more profitable for Chase I thought it would be a good tactic to revolve a lot of my balance while making large payments and charges at the same time, I guess they assume that's what I'll do after the 0% APR promo is over, ha! 

So far, I am really happy with Chase. I know J.P. Morgan is easing lending standards to expand their cc business but I can't help but wonder if they are marketing to victims of the recession who are in the later stages of rebuilding their credit. If so, it's a brilliant strategy to win customer loyalty right out of the gate. While I patiently wait for my next CLI, Citi's website told me I'm prequalified for the Doublecash card with a set APR and the opt-out notice (I think that's a positive sign from what I've read here). I'm going to apply this weekend - my Chase statement cuts tomorrow and I want my report to reflect the CLI and payment I made in order to get the best deal with Citi. 

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Congratulations!...Thanks For Sharing.

[Anonymous]

First off, congratulations on bringing your credit back up. I know from experience that it can take some work and is not always an easy process. Hope that you learned from the mistakes that you made, I know I did. Also, congrats on the cli from Chase.

[Anonymous]

Congrats on your auto CLI!

[Vegas4Play]

Congrats to you !!!

[RonM21]

Welcome!!! Congrats on the increase!