Chase

[Anonymous]

I really think Chase likes to see accounts used significantly, then quickly paid down.  When I didn't use my Chase card for anything more than small potatoes for a while... no CLI.  I recently used it for some large purchases (building a house), had about $2500 on it ($6000 CL), and when the $2500 was almost paid off (two months later) they raised my limit to $9000.  When I got that card 5 years ago it had a $500 or so limit.  Apparently, Chase likes my spending habits...

Try paying it down and telling them if you don't get your limit back you will continue paying down and then never use it again?? 

[haulingthescoreup]

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@Anonymous wrote:

Chase may be preemptively closing the account. It is not uncommon for a card issuer to lower th limit as the card is paid down and close once paid off.

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D@mned if you do, and d@mned if you don't.

[jsmith12345]

I'm carrying a $35k balance at 0% on my Chase right now.  It's well above what I normally carry for utilization, but the 0% was too nice to pass up.  Once the 0% is up,I'll pay it off.  If they lowered my CL, I'd pay if off and cancel the card.  That's ridiculous....

[haulingthescoreup]

As long as you're in the position to be able to do that (pay off $35K on short notice), it makes sense to me. You have to keep track of financial sense as well as scoring sense.

[Anonymous]

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jsmith12345 wrote:

I'm carrying a $35k balance at 0% on my Chase right now.  It's well above what I normally carry for utilization, but the 0% was too nice to pass up.  Once the 0% is up,I'll pay it off.  If they lowered my CL, I'd pay if off and cancel the card.  That's ridiculous....

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I think one of the important lessons here is that you have to have a back up plan.  Say Chase was your only card and they decided that, for what ever reason, they wanted to close your account.  If you didn't have a way to take care of that balance, you'd be sunk.  Of course, I'm not talking about you specifically.  Even a modest balance for a single card holder could mean big problems.

[jsmith12345]

Point taken, it's good to have a back-up plan!    I'd be shocked if Chase lowered my CL.  I only have one of their cards, but have had it for some time....

[Anonymous]

To the people who have really high Chase CL's, did they originally come that way after approval? Auto-CLI or upon request? How long was it open? How does Chase CL compare wih others?

Since they seem to not accept CLI requests without a hard I am not trying anymore but I hate my Chase Freedom with $300 CL when I have several CL's in the $2000-$3000 range. I like the rewards but I could barely use that card without paying them after each use.

[Anonymous]

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ChaoticKinesis wrote:
To the people who have really high Chase CL's, did they originally come that way after approval? Auto-CLI or upon request? How long was it open? How does Chase CL compare wih others?

Since they seem to not accept CLI requests without a hard I am not trying anymore but I hate my Chase Freedom with $300 CL when I have several CL's in the $2000-$3000 range. I like the rewards but I could barely use that card without paying them after each use.

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My 2 Chase cards were originally issued by credit card companies other than Chase.  One, opened in 3/1986, was originally a First Card (who merged with BankOne, who later was purchased by Chase). The other, opened in 10/1994, was a First USA card (who also merged with BankOne, and later, Chase).  All of my credit line increases occurred before the companies were acquired by Chase.  I haven't received any automatic credit line increases from Chase, and I haven't requested any increases either.  The only thing I've done is reallocate my credit lines. 

Bank of America provides generous credit lines.  I have a $47,000 CL on my BoA WorldPoints Visa card.

[MidnightVoice]

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ChaoticKinesis wrote:
To the people who have really high Chase CL's, did they originally come that way after approval? Auto-CLI or upon request? How long was it open? How does Chase CL compare wih others?

Since they seem to not accept CLI requests without a hard I am not trying anymore but I hate my Chase Freedom with $300 CL when I have several CL's in the $2000-$3000 range. I like the rewards but I could barely use that card without paying them after each use.

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I have had a card for 12 months with no automatic CLI.  It started out at $2K, and every time I mentioned a CLI they said it would cost a hard.  When I fainally applied for a CLI they said they if my CR was OK they would give me one to bring it up to the region of my highest CLs.  So I accepted the hard and got $8.5K.

[Anonymous]

DW got her Chase card in Oct of 2004 with a $13,000 CL right out of the box.  At the time I was really surprised because about a year earlier in November of 2003 she also received a BoA card with a $12,000 CL that I thought was a fluke.  She closed this one last year and we just reopened it.  At the time her CL's equaled her annual income and I was jealous.

Still am.