Credit Limit for Chase Amazon Prime Rewards Visa and CLI's

[Anonymous]

My starting limit was $500 when I got the card in Febraury. Fast forward to today and with the auto increase of nothing, I still remain at $500. 

LOL!

I barely use the card now. If I need anything off of amazon, which I always do, I use the store card with its 3,500 limit.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Got the Chase Amazon Prime Rewards Visa for my 2nd credit card today after a Discover It ($10k CL on the Discover, but have only had a month). However, I was only given a $2k credit limit, which is way less than the Discover card. I sometimes spend over $200/month on Amazon, so to keep utilization under 10% I'm going to have to pay part of it down mid-month, prior to the statement date  I recognize now I probably should have waited until maybe the 3 month mark to apply so that the Discover card could help build my credit, but when I saw 761 on my EX FICO score I just went for it--sorta regretting it now due to the low CL.

---

Part of what you said above isn't really true.  If you're worried about your credit scores with respect to utilization and keeping your utilization low as a result, you must understand that reported utilization is what matters.  You can run your balance higher than $200, all the way up to your $2000 limit if you want, so long as you pay your balance down to $179 or less each cycle and that amount is what reports.  There is no need for multiple payments on a $200 spend as you described.

---

Kinda confused here... For example, if I spend $400 on a $2k limit (so 20% utilization), won't it get reported as a 20% utilization once the statement is cut unless I pay it down to $200 or less prior to the statement cut to get a lower (10% or less) utilization reported? Then PIF on the rest after the statement is cut so that the usage gets reported. Effectively meaning I would have to pay twice a month due to the low limit.

[HeavenOhio]

First, it should be clarified that less than 10% actually means 8.9% or less. The reason for that is that 9.000000000001% will round up to 10%.

thwait, I think you and BBS are saying about the same thing. Chase will report the statement balance. So if you're at 25% of your limit mid-cycle and pay your balance down to 5% before the statement cuts, 5% will be reported. You can spend a lot and make several mid-cycle payments and still have a low balance reported.

Chase will also report zero whenever you pay to zero. If you zero out your balance mid-cycle, they'll report to the bureaus again. If you pay to zero right after the statement cuts, you'll see a balance on your statement, but Chase won't bother reporting the statement balance and will go straight to reporting zero.

Of course, you can always pay your statement balance (PIF) and not pay to zero. PIF is all that's required to avoid interest.

[Gmood1]

---

@longtimelurker wrote:

---

@Gmood1 wrote:
$2k is about average for the Amazon Prime. 

---

Do we really know that?  Even for MyFico.    When I got the card (which was 2004, so not a recent data point!) my limit was $25K, (when that was real money...)

I would be interested in people who recently got say both Amazon Prime and a CSR.   Do they have very different limits (say $2K vs $20K) or is it more that the Amazon Prime is available to people with weaker profiles than the other cards, bringing down the apparent average.

---

I'm going on what I've seen in the forum. The majority report $2K SL. I've seen a few hit $10K ..not many. I haven't seen anyone hit $25K on the Amazon Prime. You're a true Mack Daddy LTL with a $25K Amazon card. lol

[pipeguy]

My Amazon Prime Card (GE/Sync) is $8k and its over 10 years old - it's stuck there for the last several years. My Chase Amazon Prime Visa started at $5k and it's still at $5k - I opened it when it was first offered, in late December or early January 2017 (first statement is dated Jan 26th 2017. I use them both, the Sync version for anytime I think I'll need the 0% promotional rate 6/12 months and the Chase version for PIF purchases. Between the two - actually either - it's plenty of credit for my Amazon purchases. 

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Got the Chase Amazon Prime Rewards Visa for my 2nd credit card today after a Discover It ($10k CL on the Discover, but have only had a month). However, I was only given a $2k credit limit, which is way less than the Discover card. I sometimes spend over $200/month on Amazon, so to keep utilization under 10% I'm going to have to pay part of it down mid-month, prior to the statement date  I recognize now I probably should have waited until maybe the 3 month mark to apply so that the Discover card could help build my credit, but when I saw 761 on my EX FICO score I just went for it--sorta regretting it now due to the low CL.

---

Part of what you said above isn't really true.  If you're worried about your credit scores with respect to utilization and keeping your utilization low as a result, you must understand that reported utilization is what matters.  You can run your balance higher than $200, all the way up to your $2000 limit if you want, so long as you pay your balance down to $179 or less each cycle and that amount is what reports.  There is no need for multiple payments on a $200 spend as you described.

---

Kinda confused here... For example, if I spend $400 on a $2k limit (so 20% utilization), won't it get reported as a 20% utilization once the statement is cut unless I pay it down to $200 or less prior to the statement cut to get a lower (10% or less) utilization reported? Then PIF on the rest after the statement is cut so that the usage gets reported. Effectively meaning I would have to pay twice a month due to the low limit.

---

That's true for some lenders (Disco to name one), but only kind of true for Chase... even if you PIF the day after the transaction posts, they'll still report a "high" balance of the highest peak. I hit the 500 spending in the first cycle, but now my CR shows a high balance of about 70% 

[Anonymous]

I got my Chase amazon visa exactly 1 year ago with a 705 fico score. current scores are EX 751 TU 780 and EQ 750. they started me out with a 2000 dollar limit and not one auto CLI in over a year

[Anonymous]

---

@DieGo2SHAE wrote:

It was one of my first cards in 2013 and I was approved then for a pitiful $500. After 4 years of moderate usage, much higher limits on other cards, and the upgrade to the Prime 5% version (since which Ive used it a lot more), I was given an auto cli earlier this year for a whopping $1000 

---

Chase Auto CLI are very rare! congrats

[Anonymous]

Have the card for about 8mths now and haven't recevied any CLI. I still have $1k as my CL for this card. Only use it for Amazon purchases, which I haven't really made any reccently.

[Anonymous]

from what I have seen Chase wants heavy usage of the card before issuing a CLI.