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About LinkBacksOk so my Chase freedom card is my credit line that is the lowest out off all of my cards, but it is the card that I want to use the most. It only has a 500 dollar credit line and I have had it since May 2012 so It has been about 6 months since I have had the card. I charge around 180-250 to the card every month and thats because the freaking limit is so low and a lot of the things that I buy costs 300-600 and I can't charge those onto the freedom because I never have enough credit free so I end up charging my Discover, AMEX, or Wellsfargo visa.
Do you guys think I should ask for a increase now or should I just wait it out and see if they will automatically increase it. And if I do ask how should I go about doing it.
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Centurion Member
- Join Date
- Apr 2012
- Location
- USA
- Posts
- 316
Should I ask chase for a CLI, if so how should I
March 2011- Wellsfargo Cash Back College Card - 1,500
May 2012- Chase Freedom - 1,500
May 2012- Discover IT - 3,250
August 2012- American Express Blue Cash Everyday - 4,800
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Platinum Member
- Join Date
- Sep 2012
- Location
- Fort Dix, NJ
- Posts
- 80
I think it just depends on how in need you are for the increase ultimately. If you need it, go ahead and ask for it. Some people say you should never be afraid to ask for a CLI.
I'd also take in consideration your payment history with Chase. As long as you pay in full, I think you'll be fine. I'd just worry about the length of account history with them. 6 months may not be long enough for some companies. IMO I'd say wait until the 8-10 month mark then try.Revolvers
Credit Union MC 3/2004 ($6K)
Capital One Platinum 3/2005 ($500)
Dell Financial Services CC 2/2007 ($2.5K)
USAA Cash Rewards World MC 10/2011 ($9.5K)
AMEX BCE 01/2013 ($10K)
Chargers
AMEX Gold 1/2011(NPSL)
EXP 721 (01/02/2013) Amex
EQU 695 (01/10/2013) PenFed
TU 705 (01/22/2013) MyFico
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Centurion Member
- Join Date
- Aug 2011
- Location
- Phoenix
- Posts
- 770
I have noticed that ever since CARD Act, Chase has been issuing smaller initial credit lines and then within the first year of cardmembership, they will issue an automatic CLI provided that your credit score hasn't tanked and that you have maintained your new account correctly. They are able to issue the auto CLI within the first year because they have your income on file. If, after the first year passes without an auto CLI, you will need to call and apply for a CLI and give them updated income informaiton. As always, any CLI requests initiated by you will result in a hard inquiry.
To request a CLI you may do so by calling the number on the back of the card or by filing out the request on your Online Account Management. I would seriously wait until May 2013 to request it though. Give it until then to see if they give you an auto CLI.
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Centurion Member
- Join Date
- Sep 2012
- Location
- Los Angeles, CA
- Posts
- 229
This actually happen to me last week. I just completed my first year of card membership with Chase and they gave me a CLI of 2000. Not sure if it was because I just payed off the large balance I had on it for a while (was taking advantage of the 0% promo), or cause I used my cashback as a statement credit, or just cause of the year I been with them.
Originally Posted by CC Deville
Also, you should max out your card and pay It off multiple times a month so Chase can see how a credit limit increase would be appropriate. Of course you shouldn't let the balance report as 500, just pay It off in full before statement cuts.
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