- Centurion Member
- Posts: 1075
- Joined: Thu Aug 04, 2011 7:07 pm
- Location: Phoenix
Generally Chase will give one auto CLI within the first 12 months of cardmembership since they can use the income that you provided on the application for credit to comply with CARD Act rules (ensuring the cardholder's income is sufficient to repay a balance owed). My personal experience with this, although dated, was similar; I opened Chase Freedom 11/2010; $7K SL, used the heck out of the promo 0% on purchases (or was it balance transfers, like I said, nearly 5 years ago) and I got a $3K increase to $10K in 8/2011, three months before the 12 months was up and in the past 4 years, no more CLI's; still at $10K.
I worked for a small bank up until about a year ago and that is what they did as well; called it a proactive credit line increase by granting one increase before the first year was up-if eligible. After the 12 months passed, the bank was required to obtain updated income information before an increase could be given. As always, YMMV (I always have to say that because some mental giant will come in and say "that's not true! I got xxxxx three times in the past two years!"). There are ways banks can estimate income (one of the credit bureaus has an estimator that apparently complies with CARD Act) and that could be why some banks may give an auto CLI after the first 12 months with no update by the cardholder; however, that seems to be rare.
So to sum up what I typed: many banks, with high usage, will grant one auto CLI in the first 12 months and after that, require you to request it. And with Chase, that will be a hard inquiry. If Chase is your main, go to bank, than a silly HP is worth a credit line increase. As others have said, this is a person by person example and may not be your experience (Your Mileage May Vary).