Chase +1 CC - Max credit line/limit?

[Anonymous]

Hey everyone. My first ever credit card was the Chase +1 (a discontinued student credit card from Chase). I have not used the card since getting AMEX so they haven't been auto-raising my CL. But I applied for one anyway. AMEX approved my CL increase from $2000 to $5000 using the online form. So I tried raising my Chase +1 CL from $1000 to $5000 as well. But today I recevied a letter from Chase saying that they raised my limit to $2000 only.

The reason:

"few revolving accounts opened long enough to establish credit history"

and

"you already have the maximum amount of credit we can offer you"

Does that mean they can't offer more than $2000 line on the +1 card, or they can't provide me, specifically, with any more at this time? Do specific cards have their own max credit line?

[longhorn11]

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@Anonymous wrote:

Hey everyone. My first ever credit card was the Chase +1 (a discontinued student credit card from Chase). I have not used the card since getting AMEX so they haven't been auto-raising my CL. But I applied for one anyway. AMEX approved my CL increase from $2000 to $5000 using the online form. So I tried raising my Chase +1 CL from $1000 to $5000 as well. But today I recevied a letter from Chase saying that they raised my limit to $2000 only.

The reason:

"few revolving accounts opened long enough to establish credit history"

and

"you already have the maximum amount of credit we can offer you"

Does that mean they can't offer more than $2000 line on the +1 card, or they can't provide me, specifically, with any more at this time? Do specific cards have their own max credit line?

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This is probably the reason why they would not go any higher than 2k.  Most banks have some type of internal limit on how high a "student" card can go.  Depending on your situation, it might be beneficial to request a product change and then ask for another CLI in 6-12 months.    

[Anonymous]

What does a product change entail? I hope it won't be the same as closing this credit card hence losing all my credit history with it?

[longhorn11]

No you should be able to keep the same account number and history.  Just call Chase and ask them if you are eligible for a product change on this account (graduated, looking for better rewards, etc.) and see what they have to offer.  The only time where it takes extra effort to make sure all of your information stays the same is when you are switching networks (e.g. visa to amex, etc.)  It can still be done, you just have to make sure everyone is on the same page.

[Anonymous]

Ah ok, sounds good. Will do that tomorrow.

What about the CLI? Do you think if I do a product change, will they keep the same credit line and not up it right away? And what if I ask for a CLI? I just asked this CLI last week and they did a hard pull. Will they make another and it will be counted against me in the credit score or can they just reuse the hard pull they did last week?

Thanks so much

[longhorn11]

You can always ask and see what they would be willing to do.  Just explain to them you would like to make this your daily card and you would like your original request for 5k to be reconsidered (ask to do the PC first though).  Just make sure they will not do another hard pull, two in this short period of time is not worth it for a CLI.  When you call try this number, 888-245-0625.  Good luck!    

Be sure to report back on what happens!

[Anonymous]

No luck on any product change for mine. (just tried) Also never received any auto CLI after the 1st years of the card. 1100 limit- but zero rewards on it makes me use Amex more often. 

[trumpet-205]

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@Anonymous wrote:

"you already have the maximum amount of credit we can offer you"

Does that mean they can't offer more than $2000 line on the +1 card, or they can't provide me, specifically, with any more at this time? Do specific cards have their own max credit line?

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Longhorn11 is incorrect. That means you reached Chase max internal limit at this time, it has nothing to do with it being a +1 card or a student card. Chase considers the total amount of credit, not per account basis.