Why is my Chase card's credit limit so low?

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6 posts
Snakeinthebag
 
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Why is my Chase card's credit limit so low?

Postby Snakeinthebag » Thu Jul 05, 2012 6:18 pm

I just got approved for the Chase freedom card, but the limit is $300.

I also have the slate card with a limit of $1500.

I recently had to the slate card to purchase new tires and was in need of some work on the front end of my car. With that, I almost used up all of my credit card.

Would that be the reason my limit is so low on the freedom card?

I should of paid a major portion of it off before applying right?

Car loan paid off, no late payments.
Rarely use my macys card and nearly paid off my best buy card.

So what should I do.


Money card
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Postby Money card » Wed Aug 01, 2012 10:39 pm

No I think it has to do with your status how many years have you worked, your job income, do you have any loans, mortgages? how many credit cards do you have prior to your slate and freedom.

if you just got out of college and this is your first year on a job, it's not a great paying job , they may want to start you off slow.

but if you have been working for 5 years or more, you have no debt , a good income prior to your slate and freedom if you have no other cards that's the reason for the low limits.

lucasoil4u
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Postby lucasoil4u » Fri Mar 08, 2013 9:39 am

You need to do heavy usage with the card and pay it off. Charge it to the Max and pay it off then you should see an CLI in the next 6 months

DavidNY
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Postby DavidNY » Mon Mar 11, 2013 4:09 pm

The longer your credit history is, the higher your CLs will be.

namvet
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Postby namvet » Mon Mar 11, 2013 5:03 pm

Higher credit lines=Time and patience

Gamma
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Postby Gamma » Mon Mar 11, 2013 5:52 pm

I'm sure the op has gotten a cli by now seeing how old this thread is.



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