Chase gave me two options

[Anonymous]

People are allowed to disagree. Why is it a huge deal? The OP made a decision, some people agreed, some people didn't.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Great arguments on both sides.  But in the end, it is a matter of "WANT" and "NEED".  Taking a hardpull and not getting anything in return is the cost of doing business.  It is certainly not the end of the world.

Some times, we also have to see it from the bank's perspective.  I always say, pay close attention to what the analyst say.  Some times , it is good to recon and sometimes it isn't.  Can you take the 2k on the card?  Sure, butis  that what you really and were truly hoping for?

Or do I just take the advise, let my accounts age and then go in full force at a later time.  Patience wins the credit game.  Just because you were presented with an option does not mean you should take it now-

Just my .02 cents of course/

---

Does the OP *NEED* a 10K approval? What guarantees that in the future if so?

---

@Anonymous,

There are no guarantees in the future... But if OP improves credit profile by letting account age, using current Chase cards to improve internal risk scores, then probability is high for a higher credit limit in the future.  Nothing is ever GUARANTEED in the credit world.

A need is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long. Many people have gone days without eating, but they eventually ate a lot of food. You might not need a whole lot of food, but you do need to eat.

A want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is music. Now, some people might argue that music is a need because they think they can't do without it. But you don't need music to survive. You do need to eat.

I think OP falls in the "WANT" category because OP can certainly do without the card...

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Great arguments on both sides.  But in the end, it is a matter of "WANT" and "NEED".  Taking a hardpull and not getting anything in return is the cost of doing business.  It is certainly not the end of the world.

Some times, we also have to see it from the bank's perspective.  I always say, pay close attention to what the analyst say.  Some times , it is good to recon and sometimes it isn't.  Can you take the 2k on the card?  Sure, butis  that what you really and were truly hoping for?

Or do I just take the advise, let my accounts age and then go in full force at a later time.  Patience wins the credit game.  Just because you were presented with an option does not mean you should take it now-

Just my .02 cents of course/

---

Does the OP *NEED* a 10K approval? What guarantees that in the future if so?

---

@Anonymous,

There are not guarantees in the future... But if OP improves credit profile by letting account age, using current Chase cards to improve internal risk scores, then probability is high for a higher credit limit in the future.  Nothing is ever GUARANTEED in the credit world.

A need is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long. Many people have gone days without eating, but they eventually ate a lot of food. You might not need a whole lot of food, but you do need to eat.

A want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is music. Now, some people might argue that music is a need because they think they can't do without it. But you don't need music to survive. You do need to eat.

I think OP falls in the "WANT" category because OP can certainly do without the card...

---

If there is no future guarantee of an instant approval then it is indeed a waste of inquiries to not take the slice now.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Great arguments on both sides.  But in the end, it is a matter of "WANT" and "NEED".  Taking a hardpull and not getting anything in return is the cost of doing business.  It is certainly not the end of the world.

Some times, we also have to see it from the bank's perspective.  I always say, pay close attention to what the analyst say.  Some times , it is good to recon and sometimes it isn't.  Can you take the 2k on the card?  Sure, butis  that what you really and were truly hoping for?

Or do I just take the advise, let my accounts age and then go in full force at a later time.  Patience wins the credit game.  Just because you were presented with an option does not mean you should take it now-

Just my .02 cents of course/

---

Does the OP *NEED* a 10K approval? What guarantees that in the future if so?

---

@Anonymous,

There are not guarantees in the future... But if OP improves credit profile by letting account age, using current Chase cards to improve internal risk scores, then probability is high for a higher credit limit in the future.  Nothing is ever GUARANTEED in the credit world.

A need is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long. Many people have gone days without eating, but they eventually ate a lot of food. You might not need a whole lot of food, but you do need to eat.

A want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is music. Now, some people might argue that music is a need because they think they can't do without it. But you don't need music to survive. You do need to eat.

I think OP falls in the "WANT" category because OP can certainly do without the card...

---

If there is no future guarantee of an instant approval then it is indeed a waste of inquiries to not take the slice now.

---

@If OP waits a while as he/she already has Chase cards, then like I said  probability is high.  @Anonymous, nothing is ever guaranteed in the credit world and I understand where you are coming from in terms of hardpull, but it is something OP can recover from.

Wasting inquiris is not the end of the world.  Sometimes, it is a costly lesson.  But I see where you are coming from.  It is ultimately up to OP to decide.  Will I take 2k personally, no I won't and will just wait for a better opportunity.

The opportunity always comes............

[Revelate]

Hrm, why are you all bickering on this point?   This forum is about open discussion and FWIW I see merit from both options and end of the day it is up to the individual person in question.

We get lost on a few things with this forum I think (hi outliers!  Oh wait that's me too!): inquiries aren't that big of a deal, but credit limits aren't really needed as a general rule unless you're spending big which I think the argument could easily be made there's higher tier travel cards out there that are just as accessible.  Someone stated it correctly in my opinion, the data here gets seriously skewed by the population here vs. the rest of the consumer base.

Didn't see any place the OP suggested his use of the card; for me I'd be more than fine with 2K on this or one of the Chase sister cards: I stay 1-2 nights all of 1-3 times a year on average: enough to make use of the the benefit but I could easily do that on a 1K tradeline or really, even a $500 "toy" limit too as that would cover the typical ~160/night 3 day weekend if needed too without a interstitial (and admittedly annoying) payment.  Just isn't a big deal given how prevalent PIFing is on this forum, before statement date too for a lot of people, compounded by Chase's useful policy of reporting $0 as soon as the card is paid anyway.

There's really only a couple of reasons to have outsized limits as I see it:

1) Sake of convenience, though a short-term utilization issue much like inquiries is just that - short term, w/e, at least in the current credit market.

2) Balance carrying: travel rewards cards are usually bad for this - if you can get approved for the typical second tier travel card (my terminology), you can get a better card to balance carry on.  Yes, aggregate limits do factor in here admittedly, hence my current Venture fetish for a card I don't really need for my spending, though the pre-approval rate is substantially less than my others... benefits of an improving credit file I guess.

3) Big purchase card: yeah I've made some >2K purchases even in the past few years so I know it happens, but how regular / likely is that for someone on an IHG card?  On this forum especially?

FWIW I would've taken the card with a smile on my face but that's from my own personal desires / needs, but given that I have probably one of the lowest aggregate limits and limit to income ratios (based on semi-recent thread data) of people who have been on this forum for 3+ years, I would suggest even in this forum population a 2K IHG or similar card would be just ducky in the real world, and in joe average consumer land it'd be even more relevant.  Don't need a high limit on all cards, even a low limit rewards card can be just as beneficial, but as others have stated, it all comes down to an individual's needs.

[Anonymous]

---

@Revelate wrote:

Hrm, why are you all bickering on this point?   This forum is about open discussion and FWIW I see merit from both options and end of the day it is up to the individual person in question.

We get lost on a few things with this forum I think (hi outliers!  Oh wait that's me too!): inquiries aren't that big of a deal, but credit limits aren't really needed as a general rule unless you're spending big which I think the argument could easily be made there's higher tier travel cards out there that are just as accessible.  Someone stated it correctly in my opinion, the data here gets seriously skewed by the population here vs. the rest of the consumer base.

Didn't see any place the OP suggested his use of the card; for me I'd be more than fine with 2K on this or one of the Chase sister cards: I stay 1-2 nights all of 1-3 times a year on average: enough to make use of the the benefit but I could easily do that on a 1K tradeline or really, even a $500 "toy" limit too as that would cover the typical ~160/night 3 day weekend if needed too without a interstitial (and admittedly annoying) payment.  Just isn't a big deal given how prevalent PIFing is on this forum, before statement date too for a lot of people, compounded by Chase's useful policy of reporting $0 as soon as the card is paid anyway.

There's really only a couple of reasons to have outsized limits as I see it:

1) Sake of convenience, though a short-term utilization issue much like inquiries is just that - short term, w/e, at least in the current credit market.

2) Balance carrying: travel rewards cards are usually bad for this - if you can get approved for the typical second tier travel card (my terminology), you can get a better card to balance carry on.  Yes, aggregate limits do factor in here admittedly, hence my current Venture fetish for a card I don't really need for my spending, though the pre-approval rate is substantially less than my others... benefits of an improving credit file I guess.

3) Big purchase card: yeah I've made some >2K purchases even in the past few years so I know it happens, but how regular / likely is that for someone on an IHG card?  On this forum especially?

FWIW I would've taken the card with a smile on my face but that's from my own personal desires / needs, but given that I have probably one of the lowest aggregate limits and limit to income ratios (based on semi-recent thread data) of people who have been on this forum for 3+ years, I would suggest even in this forum population a 2K IHG or similar card would be just ducky in the real world, and in joe average consumer land it'd be even more relevant.  Don't need a high limit on all cards, even a low limit rewards card can be just as beneficial, but as others have stated, it all comes down to an individual's needs.

---

Crucial points and very well said-

[Anonymous]

---

@Revelate wrote:

Hrm, why are you all bickering on this point?   This forum is about open discussion and FWIW I see merit from both options and end of the day it is up to the individual person in question.

We get lost on a few things with this forum I think (hi outliers!  Oh wait that's me too!): inquiries aren't that big of a deal, but credit limits aren't really needed as a general rule unless you're spending big which I think the argument could easily be made there's higher tier travel cards out there that are just as accessible.  Someone stated it correctly in my opinion, the data here gets seriously skewed by the population here vs. the rest of the consumer base.

Didn't see any place the OP suggested his use of the card; for me I'd be more than fine with 2K on this or one of the Chase sister cards: I stay 1-2 nights all of 1-3 times a year on average: enough to make use of the the benefit but I could easily do that on a 1K tradeline or really, even a $500 "toy" limit too as that would cover the typical ~160/night 3 day weekend if needed too without a interstitial (and admittedly annoying) payment.  Just isn't a big deal given how prevalent PIFing is on this forum, before statement date too for a lot of people, compounded by Chase's useful policy of reporting $0 as soon as the card is paid anyway.

There's really only a couple of reasons to have outsized limits as I see it:

1) Sake of convenience, though a short-term utilization issue much like inquiries is just that - short term, w/e, at least in the current credit market.

2) Balance carrying: travel rewards cards are usually bad for this - if you can get approved for the typical second tier travel card (my terminology), you can get a better card to balance carry on.  Yes, aggregate limits do factor in here admittedly, hence my current Venture fetish for a card I don't really need for my spending, though the pre-approval rate is substantially less than my others... benefits of an improving credit file I guess.

3) Big purchase card: yeah I've made some >2K purchases even in the past few years so I know it happens, but how regular / likely is that for someone on an IHG card?  On this forum especially?

FWIW I would've taken the card with a smile on my face but that's from my own personal desires / needs, but given that I have probably one of the lowest aggregate limits and limit to income ratios (based on semi-recent thread data) of people who have been on this forum for 3+ years, I would suggest even in this forum population a 2K IHG or similar card would be just ducky in the real world, and in joe average consumer land it'd be even more relevant.  Don't need a high limit on all cards, even a low limit rewards card can be just as beneficial, but as others have stated, it all comes down to an individual's needs.

---

+1

I also don't see a reason for a huge limit on this card.

[Anonymous]

---

@newUser0 wrote:

Thank you everyone for your suggestions. 

I finally decided not to get a card now and will apply in future for higher limits.  I have got like 7 cards in the last 6 months. This will help me to keep my new accounts count low.

---

And ultimately, OP has the final word/decision... ^^^^^