Chase appears to be feeling generous this holiday season (CLI question)

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Chase appears to be feeling generous this holiday season (CLI question)

Postby PhoenixDown » Wed Nov 27, 2013 8:27 pm

I have a Freedom opened in late July with a CL of 4.5k.
I was just approved for a CSP with a CL of 12k

Should I call the recon # when the CSP comes in and ask for a higher limit or should I just ask for an increase on the freedom? OR ... I can go with my original plan and wait a few months and ask for a CLI on the freedom then.

CC Deville
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Postby CC Deville » Wed Nov 27, 2013 8:52 pm

1. If you really need a higher limit on CSP ($12K is more than enough IMHO) then you could call the backdoor number to request a higher limit. Just be prepared for a hard inquiry with Experian.

2. Wait. Chase is notorious for at least one auto CLI within the first year of cardmembership. This is done along the lines of the CARD Act wherein the bank has your annual income information and can offer a CLI after you have proven your creditworthiness. Enjoy it, because after the year is up, all future credit line increases will be at your request with a hard inquiry (unless something changes with laws etc). Essentially, auto CLI's after the first year of the account being opened are extremely rare because banks are required under CARD Act to check your ability to repay for more debt which requires updated income info. Anyway, yeah. I would wait (July 2014 for Freedom; November 2014 for CSP) for the free auto CLI before wasting any inquiries. I cannot guarantee you will get an auto CLI from Chase because your exposure to them is now $16.5K but the chances are pretty good.

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Postby MemberSince99 » Wed Nov 27, 2013 11:15 pm

Agree with CC. If you ask, it is VERY likely you will have to take another hard pull for an increase.

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