Just when I thought I understood Chase

[AverageJoesCredit]

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@Anonymous wrote:

To me there is no difference between 15 percent and 24 percent.  You should never carry a balance on either card.  And with 500 dollar limits not very likely that you would even if it were 0 percent.  If you want low interest Discover sends me almost daily snail mail with 0 percent interest 0 percent transfer fees.  They might be more likely to give you higher limits too.

Me and my wife have never gotten a starting limit less than 24k on a Chase personal card.   They seem to be very generous.  Is your AAOA very low?  

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No difference between 15% and 24%? Never less than 24k on a Chase CC. That's great for you but not everyone is you and your high profile. I think your advice for people should be more constructive than what is afforded your profile. We all dont make high income or are able to feel the generosity of Chase but that doesnt make our credit any less than yours.  

[FinStar]

I believe @Anonymous was implying on the APR that most folks who tend to get approved for smaller SLs to make good habit of PIF methods where the higher APR should be irrelevant until the OP can optimize their profile.

I can definitely see the perspective that @Anonymous was sharing, but I didn't see it in a way that their profile was above anyone's. Surely we've seen folks with thinner profiles that have surprised many with some pretty decent SLs on Freedom/CFU, heck even CSPs for individuals who wouldn't ordinarily fit the "mold". But, as we all know, everything will be YEMV in the wonderful world of credit 😉

[Anonymous]

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@AverageJoesCredit wrote:

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@Anonymous wrote:

To me there is no difference between 15 percent and 24 percent.  You should never carry a balance on either card.  And with 500 dollar limits not very likely that you would even if it were 0 percent.  If you want low interest Discover sends me almost daily snail mail with 0 percent interest 0 percent transfer fees.  They might be more likely to give you higher limits too.

Me and my wife have never gotten a starting limit less than 24k on a Chase personal card.   They seem to be very generous.  Is your AAOA very low?  

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No difference between 15% and 24%? Never less than 24k on a Chase CC. That's great for you but not everyone is you and your high profile. I think your advice for people should be more constructive than what is afforded your profile. We all dont make high income or are able to feel the generosity of Chase but that doesnt make our credit any less than yours.  

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What I already said I only get approved for 1k limits with Amex.  

[iced]

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@Anonymous wrote:

Yeah, clearly chase doesn't like me as much as Amex or anyone else .I have prequals for everything I could want except 00 on chase lol

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Prequals mean nothing. The consensus would be that Chase loves me and I never see prequals either.

[xaximus]

Chase is weird sometimes. I didn't see any pre-qual's but recently got one of their cards with a decent limit. What I have noticed though is that they do like to see an AAoA of atleast 1 year and good credit habits, PIF, PIF before statement hits, stuff like that. Even then, they are finicky. Never know with them. I would utilize them and pay them off every month, they will usually extend more credit as time goes. 

[Anonymous]

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@AverageJoesCredit wrote:

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@Anonymous wrote:

To me there is no difference between 15 percent and 24 percent.  You should never carry a balance on either card.  And with 500 dollar limits not very likely that you would even if it were 0 percent.  If you want low interest Discover sends me almost daily snail mail with 0 percent interest 0 percent transfer fees.  They might be more likely to give you higher limits too.

Me and my wife have never gotten a starting limit less than 24k on a Chase personal card.   They seem to be very generous.  Is your AAOA very low?  

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No difference between 15% and 24%? Never less than 24k on a Chase CC. That's great for you but not everyone is you and your high profile. I think your advice for people should be more constructive than what is afforded your profile. We all dont make high income or are able to feel the generosity of Chase but that doesnt make our credit any less than yours.  

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Also I don't have a high profile my FICO scores are right around 700 with multiple charge-offs.  There is no difference between 15 percent and 24 percent.  Both tell you to never carry a balance.  If you are carrying a balance at 15 percent you are making a bad decision. There are reward cards and then there are cards to carry balances. On cards with good rewards the interest rate will likely be terrible. 

[iced]

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@AverageJoesCredit wrote:

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@Anonymous wrote:

To me there is no difference between 15 percent and 24 percent.  You should never carry a balance on either card.  And with 500 dollar limits not very likely that you would even if it were 0 percent.  If you want low interest Discover sends me almost daily snail mail with 0 percent interest 0 percent transfer fees.  They might be more likely to give you higher limits too.

Me and my wife have never gotten a starting limit less than 24k on a Chase personal card.   They seem to be very generous.  Is your AAOA very low?  

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No difference between 15% and 24%? Never less than 24k on a Chase CC. That's great for you but not everyone is you and your high profile. I think your advice for people should be more constructive than what is afforded your profile. We all dont make high income or are able to feel the generosity of Chase but that doesnt make our credit any less than yours.  

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I didn't see anything wrong with what he shared. Advocating PIF and not carrying debt isn't some privilege for the wealthy elite - it's common financial sense that everyone should strive for, and can do with proper budgeting . If all someone can afford to pay is $100 a month, that's all they should be charging on a card.

There's no rule saying we all have a right to get cards from the bank we want (in this case, Chase). If Chase doesn't like your profile, they don't like your profile. Of course, there's about one new thread a week around here started by someone looking for some secret backdoor trick to "get in" with Chase or get them to give them CLIs only to find that there really isn't some secret backdoor trick at all. There's no system to game or 3x CLI strategy that works with Chase. Sorry.

If Chase isn't extending someone the credit they want, they can do one of two things about it:

1. Do business with a different bank.

2. Work with the credit they do extend you, and maybe someday they'll extend you more.

[Anonymous]

Interesting.

1. Do they keep old card, apply for new card?

2. Or, close old card, apply for new, hoping for a better apr? 

Choice 2 scares me more than 1, both seem risky.

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@FinStar wrote:
OP, this exactly.

What some folks have done in the past, if an APR or SL was not to their satisfaction, they opted to use those Chase CCs for a while to build some internal history.
Over time, once their overall profiles improved (minimal inquiries, stable/low utilization, moderate/aged profile, etc.) reapplied and were given a better APR and a fairly decent SL.

Based on the outcomes you've shared, and since there isn't really much detail, it appears Chase isn't comfortable with your profile to extend any additional credit at this point, hence the smaller SLs.

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[UpperNwGuy]

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@Anonymous wrote:

There is no difference between 15 percent and 24 percent.  Both tell you to never carry a balance.  If you are carrying a balance at 15 percent you are making a bad decision. There are reward cards and then there are cards to carry balances. On cards with good rewards the interest rate will likely be terrible. 

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Frogman is absolutely correct, and this has nothing to do with his personal circumstances.  It applies to everybody regardless of income, credit score, or credit history.

[FinStar]

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@Anonymous wrote:

Interesting.

1. Do they keep old card, apply for new card?  Often times that was the case to build internal history. 

2. Or, close old card, apply for new, hoping for a better apr?   As a best practice (or workaround), most individuals would get the approval first then close the old card and eventually PC or merged the accounts.  There were instances in which some folks weren't happy with the initial results and closed their account.  Months/years later would reattempt another application which would in most cases yield a much more favorable outcome.  That's proven more tricky with the 5/24 restriction in place. 

Choice 2 scares me more than 1, both seem risky.

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@FinStar wrote:
OP, this exactly.

What some folks have done in the past, if an APR or SL was not to their satisfaction, they opted to use those Chase CCs for a while to build some internal history.
Over time, once their overall profiles improved (minimal inquiries, stable/low utilization, moderate/aged profile, etc.) reapplied and were given a better APR and a fairly decent SL.

Based on the outcomes you've shared, and since there isn't really much detail, it appears Chase isn't comfortable with your profile to extend any additional credit at this point, hence the smaller SLs.

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