Anyone else have trouble with Chase slate CLI?

[tehdrizzle]

Just closed my Chase Slate card which has been opened for about 3 years.  I earn 150k gross by myself and have a mortgage, 2 vehicle loans, and a balance of about 3k on a Lowes card currently in a promotion.  I have a total credlt limit of only 30k between 5 cards.  My credit score is 820 and I called Chase last week to get an increase of my limit from $2500 to $5000.  They denied me but couldn't tell me why over the phone.  Yesterday I got a letter stating I have made heavy use of my current open lines of credit and that is why they denied me.  The limit on my Lowes card is 3k which I am assuming they are referring to.  I just called them and closed the account but called my credit union earlier this week where I had a credit line of only 10k and they increased it to 20k no problem.  Is Chase REALLY that picky taht they will not give an increase of credit to someone?  Just seems a bit unreal.  I had the same experience with Citicard, and American Express as well.  Both Citicard and American Express only allowed me a credit line of $1500 each.  I am baffled that someone with my score and income cannot get approved for more.  I decided to close all cards except for my credit union, best buy, and lowes cards.

[signaturecardmember]

With Chase you are much better off opening a new card with them and transfering some of the limit over to other accounts. The Slate card is pretty much only useful as a balance tansfer card, yes they now give free credit score but thats not a big deal. Call Lowes and ask for $35k, it is not a hard inquiry and you might be surprised how much they give you. I think the Lowes card is spooking the computers and wouldnt apply for anything else until the utilization is a lot lower. Hope this helps!

[Anonymous]

Sorry but using 100% utilization on any card is a red flag. It shows risk. I've seen it many times on this forum and elsewhere that you need to spread utilization so it's less than 10% overall and ideally less than 10% on any card. Chase is pretty conservative with CLI, how long have you had to the card?

Closing those 3 cards is a bad idea. You utliization will increase. I suggest you call and reactivate them to build your credit history. You can use your credit union card for most purchases and just lightly use everything else.

[Anonymous]

So you have almost a 3k balance on Lowes with a 3k CL. That might in itself be enough to spook the computers for Chase, Citi and Amex. All three can be very utilization sensitive. Call the Credit Solutions backdoor number on the Lowes card and ask for 25k. You'll get it and util will fall to 10%. Which card did you close?

[LadyJEsq]

Wow OP, that sure does sound strange. Sorry this happened to you. I know how frustrating that must be. While I'm not sure where everyone is getting that your Lowe's card is maxed out/near max, but from what you said, you had just over 15k in CL across 4 CCs (Slate, AmEx, Citi and CU), so since you stated that you have 30k in TCLs, that would leave just under 15K remaining across Lowe's and BB. Since you closed only about 5K in CL and gained 10K in CLI, your util will be fine. I'm not sure how much good it would do now since you closed the CCs, but I would suggest contacting the EO's for all three CCCs. It might not change the outcome, but you might be able to gleam potential information concerning your credit profile which can help down the line.

Good luck if you decide to give them a call!

ETA:

I now see where your Lowe's CC is maxed out. I'd silll contact the EOs.

[taxi818]

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@tehdrizzle wrote:

Just closed my Chase Slate card which has been opened for about 3 years.  I earn 150k gross by myself and have a mortgage, 2 vehicle loans, and a balance of about 3k on a Lowes card currently in a promotion.  I have a total credlt limit of only 30k between 5 cards.  My credit score is 820 and I called Chase last week to get an increase of my limit from $2500 to $5000.  They denied me but couldn't tell me why over the phone.  Yesterday I got a letter stating I have made heavy use of my current open lines of credit and that is why they denied me.  The limit on my Lowes card is 3k which I am assuming they are referring to.  I just called them and closed the account but called my credit union earlier this week where I had a credit line of only 10k and they increased it to 20k no problem.  Is Chase REALLY that picky taht they will not give an increase of credit to someone?  Just seems a bit unreal.  I had the same experience with Citicard, and American Express as well.  Both Citicard and American Express only allowed me a credit line of $1500 each.  I am baffled that someone with my score and income cannot get approved for more.  I decided to close all cards except for my credit union, best buy, and lowes cards.

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Well the score you cited is great. But you did not say from which bureau nor did you say what your scores are from all 3 as each bank will pull their own report. are you scores like that across the board? The fact you only have $1500 with amex and the others says a lot when you have a score like that. Of course credit unions are much more lenient than the major players. In no way am i saying you are not deserving of a Cli but more information would help to  see what they seeing. Maybe with the mortgage and two auto loans combined with the  credit cards they are thinking its debt to income. who knows. If you had it that long i hope you did not close it out of emotions or the feeling of being entitled. 30k is not a lot for 5 cards knowing that 1 of them is 20k. so 10k between 4 cards according to info you gave. something is just not adding up. Also where are you getting the score from? Is it a fico score?

[Anonymous]

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@tehdrizzle wrote:

Just closed my Chase Slate card which has been opened for about 3 years.  I earn 150k gross by myself and have a mortgage, 2 vehicle loans, and a balance of about 3k on a Lowes card currently in a promotion.  I have a total credlt limit of only 30k between 5 cards.  My credit score is 820 and I called Chase last week to get an increase of my limit from $2500 to $5000.  They denied me but couldn't tell me why over the phone.  Yesterday I got a letter stating I have made heavy use of my current open lines of credit and that is why they denied me.  The limit on my Lowes card is 3k which I am assuming they are referring to.  I just called them and closed the account but called my credit union earlier this week where I had a credit line of only 10k and they increased it to 20k no problem.  Is Chase REALLY that picky taht they will not give an increase of credit to someone?  Just seems a bit unreal.  I had the same experience with Citicard, and American Express as well.  Both Citicard and American Express only allowed me a credit line of $1500 each.  I am baffled that someone with my score and income cannot get approved for more.  I decided to close all cards except for my credit union, best buy, and lowes cards.

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As someone else mentioned, I would just open another card and consolidate accounts. I have never been able to get a CLI with Chase but have run through 6+ cards in the past two years. My scores are lower than yours (see sig), and my income is $156K with across the board utilization of 2%. 

[takeshi74]

Plenty of peope have problems with CLI's on any Chase card.  Take a look at prior discussions.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=chase%20cli%20s...

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@tehdrizzle wrote:

I just called them and closed the account but called my credit union earlier this week where I had a credit line of only 10k and they increased it to 20k no problem.

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It really doesn't matter what other creditors do -- not just for Chase but for any creditor.  Creditors can and do have differing underwriting critieria.

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@tehdrizzle wrote:

Is Chase REALLY that picky taht they will not give an increase of credit to someone?

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They do give out CLI's.  My wife has received several.  Her UMPE was just bumped a few days ago.  I've never received any.  Most here seem to have an experience similar to mine but you'll find some that have received auto CLI's from Chase.

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@tehdrizzle wrote:

I am baffled that someone with my score and income cannot get approved for more.

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It's never just about score.  You can't just assume that a score of X will get you large CLI's on its own.  Every creditor determines what they're willing to extend to a given credit profile.  Recenty activity such as new accounts, CLI's etc can have an impact on what a creditor is willing to extend to you.  Your creditors granted the CLI's that your credit profile and income qualified for when compared to their underwriting critieria.  It's your call to make but rather than packing up your toys and running home I'd suggest taking their letter with reason(s) and working on addressing their concerns if you want higher limits from them.

Why are you looking for a CLI on a Slate anyway?  It's not a good rewards card and even the BT offers aren't as good as the initial offer.  Best use probably would have been to open another Chase card that would be a better fit for you, transfer the limit of the Slate and then close it out.

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@tehdrizzle wrote:

Yesterday I got a letter stating I have made heavy use of my current open lines of credit and that is why they denied me.  The limit on my Lowes card is 3k which I am assuming they are referring to.

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When they say use they probably mean reported revolving utilization -- not the limits.  Use and limits are two very different things.