Chase CLI via Soft Pull

[FinStar]

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@Dustink wrote:

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@FinStar wrote:

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@Anonymous wrote:

If it takes a hard pull to get an additional $5,000 or $10,000, I really don't see the big deal. After 6 months they barely hurt, and after 1 year they aren't even factored in FICO.

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+1

Exactly.

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But if you are already risking AA. It can hurt. I am at 20 INQs on EQ. Usually I would accept a HP and understand it for the reasons @CreditScholar gave. This time though, I could use a SP increase. If they don't grant it, I understand and am okay with it.

I honestly would not grant somebody with a profile like mine any credit. I loan to people on prosper, and I would stay far-far away from a profile like mine.

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Yes, this would seem pretty trivial given the number of inquires you mentioned and I could see why the SP would be more advantageous than the HP.  Of course, you mentioned you have an auto loan with them, which potentially (from an overall banking relationship) could provide some leverage.  Are you requesting the CLI as a cashflow cushion or to offset some utilization?

So, potentially it could go either way, but if you get the SP...then consider yourself a lucky one!

Good luck either way.

[CreditScholar]

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@Dustink wrote:

I'll make a decision when the AF comes around, but I'm not firmly decided either way. I'm leaning towards keeping it for perhaps one more year, just to see if it gets better. I still have several months to make a final decision.

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I see the list of airport lounges provided by lounge club to be pretty short.

The plat comes with access to AA, Delta, US Air, airspace, plus the priority pass. So, it seems like the Plat is much better there.

The $200 airline restricted credit has been pretty hard to use for the Plat as well, but I think I can manage to hit the $200. They reimbursed me for some fee's charged when I redeemed miles, so that was an unexpected bonus.

Other than that, the perks like rental car & SPG gold are pretty lame like you mentioned. The concierge has been better than Visa sig, but I am sure JPM can top it.

Now back to the SP CLI. My credit scores have dropped about 80 points due to my new accounts, INQs, and utilization on my Chase Freedom. So, I could use the SP CLI. I asked them to recon limit when I apped to no avail. I neglected to call the EO at that time, oops.

My recent auto loan is with Chase, I wonder how that effects the credit card side of things?

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Lounge Club or Priority Pass would be there supplement Star Alliance lounges when they aren't available. This is an extremely rare occurance, since I can't think of a domestic airport where there's no UA or US lounge. Both seem to have a greater presence internationally, but since I'll always fly J or F needing Lounge Club/PP will be a rare occurance at best. If I do find myself in a terminal where there's only a DL lounge (for example), I'll just purchase a day pass and have it reimbursed against me $200 airline credit. It isn't doing me much good otherwise at the moment.

There have been reports of people getting reimbursed for $50 and $100 gift cards on their Amex plat. I'd try that if you can't spend the credit the normal way.

With regards to your auto loan, Chase seems to be a bank that values relationships. The deeper your relationship is, the better they like you. Other forms of loans are a way of deepening that relationship, whether it be an auto loan, home mortgage, etc. This is why they have offered palladiums to UHNWIs, as a way of enticing them into a PB relationship. I'm fairly certain this attitude extends beyond PB, given the bonuses they have for having multiple kinds of products (example: trifecta bonus for having the Freedom, CSP and a checking account).

Once your car loan is paid off, you'll be in a good position to get CLIs. Until then the outstanding principle could be seen as a liability, and when combined with your current FICO scores they really limit your chances for a CLI (especially via a SP).

[boomhower]

Chase EO is good but they are not going to go against policy.  I used them last year for a CLI.  I applied via regular CS and was given a $500 CLI with a hard pull.  I was certianly not satisfied with that and escalated to the EO.  They were very helpful and a couple days later had the $3500 CLI I had requested.  Good folks but don't expect miracles.

[Dustink]

Once your car loan is paid off, you'll be in a good position to get CLIs. Until then the outstanding principle could be seen as a liability, and when combined with your current FICO scores they really limit your chances for a CLI (especially via a SP).

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When I was at the dealer, I discussed my credit with the sales manager. I said I have a high balance on one of my cards. He was a bit worried about that. Then it just so happens the bank he goes through is the one with the high balance card. Go figure...Got a half way decent rate though considering my scores, short history, and self employment

I would also think of it as a liability as well and would not lend more because of it. Although, the LTV is pretty good still a liability. If they must HP, I will wait until I have atleast a 50% shot of success vs my 5% shot now. 

A $2500 payment just went through on the account, so I hope that makes them a little less worried.