why is chase so stingy with CLI?

[SlideOrInsert]

I just closed a merrick card because they refused to drop the AF charged monthly. So I am looking to make up the 3750 CL without a HP. bofa, citi, and discover accounts have already given me an increase this month.

I had two chase cards over 10 years old with zero CLI. I forget what they were at first, but at some point chase changed them to the slate product type. I called to close the higher limit/higher interest account and chase was able to add the CL to the other. So now I have a 2300 limit, my lowest of all cards (all others are 5000-13000). Given there are no benefits with this card I never use it.

Recently I sent a SM asking if I was able to change to another product type. The response:

"I value your interest in a new credit card product type.
You have the option to switch your credit card to a number
of credit cards:
Chase Sapphire, Visa Signature
Chase Sapphire Preferred, Visa Signature
Chase Freedom Unlimited, Visa Non-Signature
Chase Freedom Unlimited, Visa Signature
Chase Freedom with Ultimate Reward, Visa Non-Signature
Chase Freedom with Ultimate Reward, Visa Signature
Chase Sapphire Reserve, Visa Infinite
To be sure we receive all needed information, please
contact Customer Service at the number listed on the back
of your card so we can discuss the options available.

You will not receive the new cardmember bonus if you
change products. The product change will not appear as a
inquiry on your account.

We appreciate your business and thank you for being a
Chase customer. "

I've read on these forums that the minimum limit for Signature series is 5000. What are the chances if I call to be switched to a Signature that I will receive a CLI without a HP? If I am going to expend a HP, I might as well just apply for the Freedom Unlimited, Visa Signature for the SUB then have them move the credit limit over and close the Slate.

I have (1) inquiry on each EQ/EX/TU, range from 720-750, nothing bad.

[NRB525]

I would app the Freedom Unlimited if that is the card you want, to get the SUB. Yes they will HP you anyway if you want the CLI.

How old is your Slate now? Presuming you get the Freedom Unlimited I would also look at keeping the Freedom Unl active, keep the Slate going, and in a few months move the FU into the Slate ( the current Slate is the survivor ) and after that PC the now-larger, longer-aged Slate to a Freedom Unl. That way you maintain that account history the Slate has.

[UpperNwGuy]

The strategies suggested above are good ones, but I don't see how you can avoid a hard pull if you want more credit from Chase.

[kdm31091]

Chase isn't going to give you a CLI without a HP unless they do it automatically which is pretty rare. In general Chase isn't known for great CLI results.

You are probably better off applying and moving the limit around vs asking for an actual CLI, assuming you don't mind the new account ding. Or just explore options with other lenders who aren't as stingy - there are plenty out there. It's just how Chase is - they are typically stingy and act as though you're being done a favor by being granted the credit.

[Anonymous]

Chase CLIs are a pain. I never got an auto CLI, my wife has gotten a few of them. I think my Freedom was stuck at $500 from when I got it in college. I used the heck out of the card never a dime more on my credit line. Randomly I callled one day to get a cli on the card and requested $5k (from $500). The CSR was like no way will this be approved. Will never forget it when she was congrats, it’s been approved — “I’m so shocked”. Granted, I had a super thin file when I got the card and a thick file with 800+ scores when I got the cli. Chase isn’t the worst with CLIs but the hard pulls suck.

[Anonymous]

OP, what is your typical monthly spend compared to your limit? 

If you aren't pushing it to at least 30%-50% consistently month to month, it doesn't really give Chase any incentive to increase your limit.  Doing so only causes them to take on more risk for little to no additional reward.

All of these CCCs out there like Amex or Discover that have no problem throwing monster CLIs at people when they're using 1%-5% of their limit monthly are stupid.  Honestly, they are.  They're taking on more risk for no additional reward.  It's just a dumb business move.  Do I still take those monster CLIs from them?  Yes, I do... if they're going to hand it over I'll take it.  I can however recognize how backwards that is and how poor that decision is from a business perspective.  Chase in many ways when it comes to this isn't the only bad one, they're actually the only smart one.  I'd say a big part of becoming the biggest bank in America is making smart business decisions

[kdm31091]

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@Anonymous wrote:

OP, what is your typical monthly spend compared to your limit? 

If you aren't pushing it to at least 30%-50% consistently month to month, it doesn't really give Chase any incentive to increase your limit.  Doing so only causes them to take on more risk for little to no additional reward.

All of these CCCs out there like Amex or Discover that have no problem throwing monster CLIs at people when they're using 1%-5% of their limit monthly are stupid.  Honestly, they are.  They're taking on more risk for no additional reward.  It's just a dumb business move.  Do I still take those monster CLIs from them?  Yes, I do... if they're going to hand it over I'll take it.  I can however recognize how backwards that is and how poor that decision is from a business perspective.  Chase in many ways when it comes to this isn't the only bad one, they're actually the only smart one.  I'd say a big part of becoming the biggest bank in America is making smart business decisions

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To an extent I agree. Discover and sometimes Amex can be overly generous, especially relative to spend. The highest balance I think I've ever had on my Disco is maybe 5k, yet they have no problem giving a 26k limit. It was built over time though.

Chase is yes, exercising good business caution, but I think they tend to be overly stingy.

As much as Citi's IT is often a joke, I think they have a pretty good balance. Not overly generous, but will usually give steady SP CLIs over time to build up the limit. Bank of America is pretty similar. Chase just really lags in the CLI department. If someone is barely using the card, I get it. But there are people who use their Chase cards for months or years heavily and get nothing, even with a hard pull request!

[CreditCuriosity]

Chase is stingy with CLI's, but if your profile/income supports it and of course under 5/24 now they will throw a huge approval amount at you based on your credit profile.  I haven't seen any other lender persay with a few exceptions that will throw 30k+ approvals at someone right off the bat without blinking an eye.  Cap1 I suppose is another that will usually go up to 30k with a few exceptions of 50k approvals, but chase commonly does 30k+ approvals.  Long story short they will give you all up front what they are comfortable with and unlikely to get a CLI until either a huge spike in income or scores and that will require a HP

[Anonymous]

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@kdm31091 wrote:

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But there are people who use their Chase cards for months or years heavily and get nothing, even with a hard pull request!

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To me it comes down to what constitutes "heavily."  To me, it's 50%+ or so.  Whether someone has a $2k limit and is spending $1k/mo against it or a $10k limit and is spending $5k/mo against it percentage wise doesn't make a difference.  If this person is paying their balance in full every month, it's a pretty comfortable limit relative to spend.  If someone is spending significantly less, maybe several hundred dollars, to me that's not heavy use.  We see it all the time on this forum, "I use the card a lot spending $800-$1000 every month on it yet I'm stuck at my $4k limit!"  That's barely using 25% of the CL, which from the lens of the lender is plenty large enough for that spend.