ewufan wrote:I have outstanding credit (score in the mid 700's) and a household income of over $150,000. I tried to raise my limit about 2 years ago and I was declined. I tried to raise the limit to $5k today and they said the best they could do was $1500. I thought that was ridiculous. I have since canceled the card. Maybe not the best move, but whatever.
Based on my recent experiences with Chase, I feel you did
make the right choice with closing your Chase card. If what you say about your credit history is true (income doesn't matter), then it only confirms my suspicion that Chase currently has a "no lowering of APR/raising credit limit for everyone
" policy currently in effect. So no matter how loyal of a customer you have been, no matter how perfect your credit score is, they are not making any concessions. This is similar to John Grisham's Rainmaker where an insurance companies denies all claims below $10,000 to maximize profit (leading to the death of a child who would otherwise have survived had the company not denied it for no reason). Let us be glad our lives do not depend of credit card companies' decisions.
I was looking at some airline rewards cards that I could get. I qualify for most except for the $5k or $10k previous credit cards. I think this is CRAZY that I am one of the few people that CAN afford this credit limit and I am not able to get it. Can someone give me some advise? Thanks.
With your income, why not just get a charge card from Amex? The premier gold is pricey, but if you spend a lot on hotels and airplanes, the 3x and 2x points adds up. Better yet, I noticed PenFed has a ridiculously good offer right now of 5% on airlines (always), 3% on diners/hotels (until 12/31) and 2% everything else (until 12/31, after which it will be 1%).https://www.penfed.org/productsAndRates/creditCards/amex.asp