How to get your Chase credit limit increase request approved

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19 posts
Caroline1
 
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Joined: Sat Jan 22, 2011 12:09 am
Location: New Mexico

How to get your Chase credit limit increase request approved

Postby Caroline1 » Sat Jan 22, 2011 12:26 am

(Updated October 11, 2013) I was putting in a credit limit increase on my Chase credit card and was asked how much I want to increase it by. The lady on the phone offered no help in what I should ask for or how much is possible. I was left hanging on the phone guessign and told her I would call back later with an answer. I am worried about asking an amount too high of a credit line and having it be denied and then left with a hard inquiry and nothing to show for it. Does anyone here know what the Chase credit limit increase rules work?


jeffysdad
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Postby jeffysdad » Sat Jan 22, 2011 5:54 am

Ask for whatever you want as long as it's not unreasonable. You know your circumstances and what would be unreasonable. If you don't get that amount, they will almost certainly agree to something less provided you're a good customer with sufficient history.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

greentreesandleaves
 
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Location: Texas

How to Ask Chase for Credit Limit Increases

Postby greentreesandleaves » Thu Oct 13, 2011 6:01 pm

Hello all,

In high school (2002ish) I opened a Chase checking and credit card account. At that time they gave me a $400 CL. However, it has NEVER increased. I've called and ask and they have denied me. Now my card has been turn into the Slate card so I called again, and they denied me. I have two other credit cards with CL over $2500.

I'm a graduate student, so I don't make a ton of money, but I always pay on time. I do have 2 dings on my credit report for medical bills going to collections agency. I had a lot of health problems and a lot of bills (I managed to pay off over $10k in bills but 2 bills that total less than $200 dings my credit score =/). Two of those bills went to my parent's house and the never opened it or let me know!

Anyway, so I have a Experian score of 637, Equifax of 658 and Trans Union 737. I make about $24k a year, but I make it work. I pay a little to my student loans, put a little in savings, and budget out the rest. I spend about $2k across 3 credit cards and pay it all off every month.

I don't really NEED the credit line increases, but I'd like to raise them to raise my score. Does that make sense?

So how do I go about upping my limit? Do I call every 6 months? Is there a reason chase won't budge?

Also, none of those cards are rewards cards and I've been thinking about getting a cash back or travel rewards. Any suggestions for my situation?

Thanks!
-Green

Mr.Ritz
 
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Joined: Fri Oct 14, 2011 4:06 pm
Location: Tampa

Postby Mr.Ritz » Fri Oct 14, 2011 10:42 pm

I have asked twice and the second time they told me to write a letter. I just don't get it.. I have had a crappy APR with them for years and I have a 720 credit score.

ooxs
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Postby ooxs » Sat Oct 15, 2011 2:17 pm

Mr. Ritz
I have completely discontinued using chase. I qualify for Amex Platinum but chase keep telling me that i do not qualify for rate reduction (currently at 29%) which was reset to default back in 2004. I recently applied for the freedom card with 200 cash back, i paid the 500 dollars i had to spend, I got the 200 and slice the card in half.

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Pete838
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Postby Pete838 » Wed Oct 19, 2011 7:49 pm

With the 2002 card you have an account that is 9 years in good standing. That alone is a credit score boost and reason enough to keep it, but the low limit and high APR would make me put it in the back of the wallet or in the drawer. I have a Chase card with a $2500 limit that has never increased, but BofA and AMEX cards that increase every few months.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan

race
 
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Joined: Fri Dec 30, 2011 12:34 am
Location: US

Freedom CLI query

Postby race » Fri Dec 30, 2011 12:50 am

Hi friends I have chase freedom opened in july 2011. I applied for a credit limit increase today and was approved for only 500 more to the current line of 1000. I spoke to customer service also, and I requested increase in credit limit to at least 4000 from the current 1000.

The analyst said they will do a detailed study of my credit or something and get back to me in 2-3 days. They pulled a hard enquiry on EX (score 740). As for my credit history ..I have one other BoA card (7000$.. current balance on it is 2000) and only 1 hard inquiry on file this year before today's CLI application..credit history of 2yrs and all on time payments and no negatives.

Should I consider this a decline from chase for the requested CLI ?
The reason I need the CLI and I told chase too is I need to do balance transfer.

CC Deville
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Postby CC Deville » Fri Dec 30, 2011 8:16 pm

I wouldn't consider it a denial just yet. It sounds as if they need to look into the matter more.

You have to understand too that the FICO score is no longer the only consideration banks take into account when approving a new account or a credit line. They have to ensure that your income can qualify for a higher credit line.

As far as Chase goes, I would recommend using the card a lot and paying in full. They usually grant credit line increases automatically if they see that you are utilizing the account. I opened a Chase Freedom 11/10 with a $7,000 limit. I paid off a $2,000 balance in 7/11 and by August they gave me an auto CLI to $10,000. So, really, hang in tight, use the card a lot and they should give you an auto CLI.

race
 
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Joined: Fri Dec 30, 2011 12:34 am
Location: US

Postby race » Sun Jan 01, 2012 2:13 am

Thanks for the info CC Deville. Got my Chase credit limit increased to 3000. I am happy with that for now and I had to be very persistent with them for that.

robbrock11
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Postby robbrock11 » Wed Feb 01, 2012 10:49 pm

Excited, Chase freedom increased my line from $500 to $1500!

Another strategy to get a higher credit limit is to apply for another Chase card and then move some of the limit over to your main card. This article here discusses how to do that.
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