Chase Credit Limit Increases

For just about anything you want to get off your chest about credit cards.
15 posts
User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3941
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Chase Credit Limit Increases

Postby CarefulBuilder14 » Sun Nov 08, 2015 9:49 am

Whatamuji wrote:Well the card I'm after is the IHG Rewards card. Once I've paid the balance off on the Freedom card and gardened for awhile then should I simply take the HP for the card even though I don't have a card with a limit of $5k? Or do I take the HP on a CLI and then garden some more till I hit the $5k mark.

IHG doesn't require $5k - at least it didn't 5 months ago. My SL was $4k and the lowest I've seen is $3k.

Unless you plan to use the anniversary free night at a premium property, waiting for a better bonus might be good. Then again, nerfing can happen at any time.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May


Tubpbs
Centurion Member
Centurion Member
 
Posts: 879
Joined: Mon Oct 19, 2015 2:08 pm

Re: Chase Credit Limit Increases

Postby Tubpbs » Sun Nov 08, 2015 11:58 am

takeshi wrote:
Whatamuji wrote:However I have no experience getting an increase from Chase, so I was wondering what other's experiences may be in this regard.

Experience doesn't really matter. The experiences of others aren't necessarily relevant unless their credit profiles and income are similar enough to your own. I've never received a CLI but I've bumped into my internal limit. My wife, on the other hand, has received several auto CLI's.

We can speculate and speculate but the only way to find out if you'll get a CLI is to request it.

Whatamuji wrote:I do have a large utilization on the Chase account I want an increase on (around 50% utilization).

Get that down. Revolving utilization has a significant impact. 30% is a suggested max. Optimal is much lower.

Also, you need to consider your entire credit profile -- not just your Chase accounts.

Whatamuji wrote:How long would be the minimum amount of gardening I should do to get a good CLI? 6 months?

There's no such simple and direct relationship. CLI's are not simply handed out in exchange for time. X months will not guarantee a CLI. Your credit and income will determine what you qualify for. That's why you need to get your revolving utilization down.


Takeshi,

What's in your wallet if I may ask? Curious. Thanks.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Chase Credit Limit Increases

Postby Whatamuji » Sun Nov 08, 2015 3:07 pm

I'll just wait till my Freedom card is paid off and I get a better sign-up bonus. Not worth getting it now since I can't take advantage of the sign-up bonus.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3941
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Chase Credit Limit Increases

Postby CarefulBuilder14 » Sun Nov 08, 2015 4:58 pm

Whatamuji wrote:I'll just wait till my Freedom card is paid off and I get a better sign-up bonus. Not worth getting it now since I can't take advantage of the sign-up bonus.

Keep in mind IHG has no intro 0% period. It's a card to PIF from the first statement.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Chase Credit Limit Increases

Postby Whatamuji » Sun Nov 08, 2015 10:54 pm

CarefulBuilder14 wrote:
Whatamuji wrote:I'll just wait till my Freedom card is paid off and I get a better sign-up bonus. Not worth getting it now since I can't take advantage of the sign-up bonus.

Keep in mind IHG has no intro 0% period. It's a card to PIF from the first statement.


Yup, I have a plan for taking advantage of the sign-up bonus while PIF.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests