chase CLI HP question

[Anonymous]

im looking to increase my limit to free some utlization on a single card.

i currently have 62.5K total credit limit.

18k with amex, 37k with chase, 4k disc and 3.5K wells fargo

one chase has 20,000 total limit with 75% utilized, which is being paid down slowly until my nov 2017 0% apr ends.

i have two other cards with chase, one of which is 0% used, the other <10% used. 

i want to take a risk in using a hard inquiry to ask for a 10K - 20K increase to the one with 75% util.

i've carried the balance since dec when it was 19K and have been paying it ever since. 

credit reports are clean

credit scores are 700 eq, 733 tu, 720 ex

inquiries, respectively are 5, 1, 5

AAoA is 1 yr 2 mth

longest is 3 yrs.

other factors: of 6 accounts, 3 have balances, 

i guess long story short, what are my chances of getting my desired increase with the current portfolio that i have

[Anonymous]

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@Anonymous wrote:

im looking to increase my limit to free some utlization on a single card.

i currently have 62.5K total credit limit.

18k with amex, 37k with chase, 4k disc and 3.5K wells fargo

one chase has 20,000, 75% utilized, which is being paid down slowly until my nov 2017 0% apr ends.

i have two other cards with chase, one of which is 0% used, the other <10% used. 

i want to take a risk in using a hard inquiry to ask for a 10K - 20K increase to the one with 75% util.

i've carried the balance since dec when it was 19K and have been paying it ever since. 

credit reports are clean

credit scores are 700 eq, 733 tu, 720 ex

inquiries, respectively are 5, 1, 5

AAoA is 1 yr 2 mth

longest is 3 yrs.

other factors: of 6 accounts, 3 have balances, 

i guess long story short, what are my chances of getting my desired increase with the current portfolio that i have

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Realistically, very little chance of being approved for a CLI on a card with Chase (or any creditor for that matter) with it having 75% utilization.  In their eyes, all you are going to do is carry an even higher balance and increase their risk if you had a higher limit.  You need to pay that card way down before asking for one.  I'd suggest that you don't try until you get it to around 10% utilization.

[Anonymous]

what if i ask for it on a chase card with 0% util and then move the credit. will they also take the 75% card into account?

[K-in-Boston]

Just to play devil's advocate, my wife did receive a $9700 CLI with 81% util on a fresh BT last month. Her profile is much stronger than the OP, though, and the card has been open for 23 years. BOA absolutely loves to give massive CLIs when you are carrying a BT (3 data points for us in past 3 months). There are other factors like score and the AAoA that will probably be far more concerning to Chase, so I say it's iffy and a $10-20k increase is likely out of question.

[Anonymous]

Let us know what you decide and how it turns out.  Thought agreed I definitely wouldn't plan on a 10-20k increase in that scenario.  Is this for utility padding?  That extra 10-20k can be more easily had at some other places.

[Anonymous]

correct, this is for utilizy padding. 

i pay 1000-2000 a month and each 1k lowers 5% so its a matter of time. when that time comes, i wouldnt really need to explore taking a HP for more credit limit

[K-in-Boston]

Chase seems to take your entire portfolio into the equation from my experience.  Two quick questions.  Would reallocating some of the other $17k you have from Chase temporarily help you out enough with your padding?  You have a Freedom, Freedom Unlimited, CSP and CSR in your signature but only mentioned that you had the one with the balance transfer and two others.

If this is for overall util padding rather than just the individual card, you would likely have the best odds of adding that much in CL with a new account from PenFed or Navy FCU, but I'm not sure if you are interested in opening any new cards.  The worst that could happen from Chase from asking is that you get a single EX HP and a "no."