CSP Credit Limit Experiences

[pennccrn]

Hi all: After using my Barclay Arrival+ Elite for awhile, I was flirting with the idea of moving over to the CSP. Now, aside from some personal objections to the financial institution, I wanted to maintain an open mind and see what experience people had with their CL with this card. I only ask bc my parents had a Freedom and my mom swore off the card within a few months after Chase apparently cut their limit by 80% (This I think was in 2009-10 when every issuer was cutting limits after the economic meltdown) From what I read on other threads, it appears that once you get an initial approval for CL your stuck with that - that's fine with me. Most of my other cards all have limits over 10K - some of them are always raising limits without me even asking. So my question centers on if Chase ever CUTS your limit significantly for any reason. I guess that if were to use 80% or more of my CU than that would be a red flag, but just curious if there are any other circumstances that I should be careful of, if I am approved for this card.  Again, don't need a high limit - I just don't want them to hack it away if I can avoid it.

Cheers!

[Anonymous]

anyone can cut your limit

[Anonymous]

The notion that when one gets a Chase CL and then is stuck at that limit is false.  Chase gives CLIs sparingly and they like to see usage and big payments when one has a balance on an account.  One can also request a CLI but it requires them to do a hardpull which is kind of turnoff for many people.

Now, as to what you can do to not have your CL reduced is just to abide by the TOS that comes with the card. Don't abuse it [MS] and you will be fine.  They also give very good credit lines when one gets approved.  My score was in the 700s when I applied and the limit was $18,000 instantly.  I have since then closed and moved it - limit to my Ritz card bringing the limit on the card to $36,000.  No problems whatsoever....  And  I have had it for a while.

So treat it well and you will be fine.

[Anonymous]

I wouldn't worry too much about them cutting your limit as long as you use the card and pay everything else off on time.

I was approved with just over a years worth of credit history with much lower scores than yours for $10K (moved 2k of that to my Freedom).

And if the CL at any point in time starts to bug you, rather ask for a CLI or apply for another Chase card and move over the CL to your CSP after like 6 months...