Applying for Chase CLI: Do they look at reported or real-time credit utilization?

[Anonymous]

I think/hope this is the correct forum for this question.

I'm a 20-year Chase customer with two Chase Freedom and a Chase Ink business card, as well as a large checking and savings account into which my salary has been deposited for 15 years running. My annual income is $76,000; my averaged credit score is 777; I have no derogatory marks; my credit history is 8.5 or 13 years depending on which of the three reporting services you're pulling.

I would like to apply either for a Chase Sapphire Preferred (the card that seems to be recommended to me everywhere I turn), or to request a credit line increase.  I'm most interested in increasing my credit line than in the rewards, as I've got some major issues coming up quickly and I need to get my ducks in a row.  I also need to increase my consumer CL, which is only $15.5K total (both of which are in the aforementioned Chase cards) so that I'm not continually worried about my utilization rate.

Unfortunately, I didn't go in to make the additional large payment I make each month manually (additional to the automated monthly payment) to keep my CU at or below 15%, and so my reports currently show 32%.

My question to anyone who might know is:  I am concerned that if I went ahead and applied now with Chase for either a CLI or a new Chase card, the 32% CU on my report would decrease the CLI or the initial CL on a new card.  Is that the case, or would Chase actually go into my account and see that my actual utilization is currently 10%?

Thank you.

[ScoreOrBeScored]

hi, if you request a cli on your freedom, it will be a hard pull and they will your full report. So they will

see the entire picture. Of course your Ink wouldn't be listed on reports but they would probably

look at it if your cli request went into manual review.

can you please lost ALL of your cards with balance and limits and also your inquires on each report.

the more info we have the better your advice. 

As as far as getting the CSP, that is going to be your call. I would check chase prequalifier to see if the CSP 

comes up. But be mindful of their  5/24 rule they have in place. 

[Anonymous]

that 20/15 yrs of banking relationship should carry a LOT of weight esp. if you have a lot park with them so don't be shy on calling them and asking some reasonable, acceptable and/or decent changes to your satisfaction - CLI, APR reductions, etc to all your cards with them. 

and as always, YMMV! 

[ScoreOrBeScored]

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@Anonymous wrote:

that 20/15 yrs of banking relationship should carry a LOT of weight esp. if you have a lot park with them so don't be shy on calling them and asking some changes to your satisfaction - CLI, APR reductions, etc to all your cards with them. 

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Please don't tell OP that. Your income and money in the bank and relationship does NOT warrant anybody cli etc.

Cli and/or credit apps are based off several factors. If ones credit file doesn't support what's being requested then you want get full 

amount you request and may get a counter offer. When we make comments like the one you just made, leave people with expectations and

if they don't get it, then their upset....

OP......... Your relationship history and amount of funds in the account alone will not guarantee you anything. That's why they request a copy 

of your report so they can see your file. Bank account t balances don't get you what you think you deserve.... 

Incubus - not trying to sound harsh, but if you take a look at OP question, you can kind of tell they're not real familiar with how this works and 

is the he reason their asking the question. And keep in mind when people get advice from others, they run with it and like I said before, they will

have expectations. 

Look ok at the comment you made " since you have a lot parked with them, call them up and ask for changes to your satisfaction "

it  doesn't work like that and giving that advice to someone is poor advice.because if that was the case, we all would like to call up lenders

and request terms and limits to our satisfaction. 

If someone has $350k in a account but their reports reflect they don't pay their bills on time, they probably aren't gonna get jack. (Example) Reports Trump

income and bank account balances.

[Anonymous]

im basing my reply to what he posted.

"My annual income is $76,000; my averaged credit score is 777; I have no derogatory marks; my credit history is 8.5 or 13 years depending on which of the three reporting services you're pulling."

"I also need to increase my consumer CL, which is only $15.5K total (both of which are in the aforementioned Chase cards) so that I'm not continually worried about my utilization rate."

seems to me his credit profile is healthy - no derogs, 4+ yrs of AAoA. and i take it he meant 'only 2 CC with a total limit of 15.5k' when he said consumer CL. 

if from what he posted, everything is in the up and up... i don't think what i suggested to the OP to do is WAY OFF?!? but then again, i could be wrong.. as im really a newb to all of these.

edit: perhaps i misused the word - 'satisfaction'. perhaps 'acceptable', 'decent', 'reasonable' and other similar words would have been more appropriate.

edit2: i just realized... it's the OP's very first post here. not sure if he knows or if everyone knows but it should go without saying... it's always YMMV! nothing is certain!

[takeshi74]

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@Anonymous wrote:

 Applying for Chase CLI:  Do they look at reported or real-time credit utilization?

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The reason hard pulls are done is to refer to the report data.  Reported revovling utilization is what matters.  Chase doesn't have access to real time balance info for your non-Chase accounts.  Your entire credit profile matters -- not just your Chase accounts.

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@Anonymous wrote:

I'm a 20-year Chase customer with two Chase Freedom and a Chase Ink business card, as well as a large checking and savings account

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X years and your deposit accounts really don't matter.  The latter might help if you're CPC.  The primary considerations are your credit profile and your income.

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@Anonymous wrote:

my averaged credit score is 777; I have no derogatory marks; my credit history is 8.5 or 13 years depending on which of the three reporting services you're pulling.

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Score average sounds good but the specific scoring model/CRA that Chase uses in their decision is what matters.  The CRA they use will determine your AAoA as far as they are concerned.  Other scoring models and CRA data will not be considered.  This sort of thing applies to any creditor/product.

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@Anonymous wrote:

Unfortunately, I didn't go in to make the additional large payment I make each month manually (additional to the automated monthly payment) to keep my CU at or below 15%, and so my reports currently show 32%. 

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CU is typically used to mean Credit Union.  You'll definitely want to get your reported revolving utilization lower than 32% prior to applying or requesting a CLI.  We can't tell you where the sweet spot is for you but ideal seems to fall under 10% for many.

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@Anonymous wrote:

My question to anyone who might know is:  I am concerned that if I went ahead and applied now with Chase for either a CLI or a new Chase card, the 32% CU on my report would decrease the CLI or the initial CL on a new card.  Is that the case, or would Chase actually go into my account and see that my actual utilization is currently 10%? 

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Chase certainly has access to your accounts with Chase but they will also reference your reports.  Get your reports updated first.

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@Anonymous wrote:

I would like to apply either for a Chase Sapphire Preferred (the card that seems to be recommended to me everywhere I turn)

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Do your own due diligence.  Sort out your needs/wants and use them to find a card that suits you.  Don't just rely on recommendations.  For programs like Ultimate Rewards you need to look past just the reward earn rates and consider the methods of redemption that you can use and how that impacts reward value.  Best value is generally attained by transferring to UR travel partners and redeeming via their programs so you have a bit of legwork to do.  The same sort of considerations apply ot programs like Membership Rewards, Thank You, etc.

[joeaseer]

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@Anonymous wrote:

I think/hope this is the correct forum for this question.

I'm a 20-year Chase customer with two Chase Freedom and a Chase Ink business card, as well as a large checking and savings account into which my salary has been deposited for 15 years running. My annual income is $76,000; my averaged credit score is 777; I have no derogatory marks; my credit history is 8.5 or 13 years depending on which of the three reporting services you're pulling.

I would like to apply either for a Chase Sapphire Preferred (the card that seems to be recommended to me everywhere I turn), or to request a credit line increase.  I'm most interested in increasing my credit line than in the rewards, as I've got some major issues coming up quickly and I need to get my ducks in a row.  I also need to increase my consumer CL, which is only $15.5K total (both of which are in the aforementioned Chase cards) so that I'm not continually worried about my utilization rate.

Unfortunately, I didn't go in to make the additional large payment I make each month manually (additional to the automated monthly payment) to keep my CU at or below 15%, and so my reports currently show 32%.

My question to anyone who might know is:  I am concerned that if I went ahead and applied now with Chase for either a CLI or a new Chase card, the 32% CU on my report would decrease the CLI or the initial CL on a new card.  Is that the case, or would Chase actually go into my account and see that my actual utilization is currently 10%?

Thank you.

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Wait a month until your statement cuts again and you won't have to worry. It's that simple. Get the CSP if you have a reason to get it, do you travel? Will you benefit from the card more than the annual fee costs for years to come? The CSP downgrades to the Chase Freedom card which you already have. That means if you don't like the CSP in a few years, you would likely have to just close it.

Towards the end of last year I got an CLI to my Chase Freedom card. My increase weighed heavily on my current limit and time and credit limit with other credit cards I owned. If you have 2+ years of great credit history and others cards showing you can handle a higher limit, then go for a CLI. Overall I would tell you to take the month and research yourself and just don't rely on our answers alone.   

[Anonymous]

I would apply now, waiting until your balance updates may yield better results though. However your scores are in the excellent range so it shouldn't make that much of a difference.

[Anonymous]

If you're talking to a random rep on the phone from card services, the long history and funds on deposit may not get you very far. Talking to a banker in person who can look at your complete history and use some discretion should go a lot further. Also, it's possible that your account might have an option for a soft pull CLI on file, doesn't hurt to ask, but otherwise CLI requests require a hard pull with Chase.

[Kevin86475391]

Hi and welcome to the forum!

Personally, I would definitely recommend waiting a month until your utilization reports a better rate. I know it's frustrating, but IMO it's worth waiting another month and making extra sure to have it report low.

If your main goal is a larger credit line and you're not concerned with rewards, then personally I don't see the point in applying for the CSP.

Good luck with whatever you decide.