Chase Credit Limit Increases

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CarefulBuilder14
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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.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card


Tubpbs
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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
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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, Chase Freedom Unlimited: 3.2k, AMEX HHonors 5k

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CarefulBuilder14
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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.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Whatamuji
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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, Chase Freedom Unlimited: 3.2k, AMEX HHonors 5k



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