Anyone Else Get CLI Email for CSP?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
14 posts
JoDa
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Postby JoDa » Fri Mar 21, 2014 10:08 pm

I recently got an auto-CLI on my UMP from Chase. I had app'd for the CSP recently enough that I assume they used my income from that (though it wasn't much changed from my last bump which was a request from me). I find they bump me when I *don't use my cards enough.* I had switched all my spending over to the CSP and then BUMP on the UMP.
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K


takeshi
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Postby takeshi » Mon Mar 24, 2014 8:51 am

Not here but my wife did for her UMPE.

MemberSince99
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Postby MemberSince99 » Mon Mar 24, 2014 4:39 pm

flan wrote:Chase takes the "must be able to repay" part of the card act (or one of the related bits of reform) seriously. That means they don't give auto CLI after the first year (they're allowed to assume that your income is the same as what you put on your application for a year, then that data is out dated.), except where they can verify income. Thus, the email asking you to provide the information. Why they can't just put a 'ask for limit increase' button the website, who knows.



You can always call and ask, IF you want to take (in my case) two hard pulls, and still possibly be declined. (I was). Others may only take one hard pull, but let's face it with Chase 99% of the time when you request it, it will be a hard pull.

flan
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Postby flan » Mon Mar 24, 2014 5:54 pm

MemberSince99 wrote:You can always call and ask, IF you want to take (in my case) two hard pulls, and still possibly be declined. (I was). Others may only take one hard pull, but let's face it with Chase 99% of the time when you request it, it will be a hard pull.


Which is the correct behavior: it's a consumer seeking credit, which should get a hard pull. A lender initiated credit limit increase, though, is not a consumer seeking credit, it's a lender decideding that, based on the consumer's behavior, they should have a higher limit. that's true even if they have to say "hey, tell us what you make, so we can see if you get an increase.".

(I also think inquires should be finer grained than hard/soft pull, but that's an entirely separate matter.)



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