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Credit Limit Increase

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jpake1's avatar

jpake1

Senior Member

2,389 posts
Feb 21, 2012 11:57 AM
Has anybody had any luck in successfully requesting a CLI with Chase that didn't involve a hard inquiry? I never had a problem getting the requested limit with just a soft inquiry in years past with Citi. I just tried Chase and it was a no go without a hard inquiry. Anybody have any success stories or tips?
Feb 21, 2012 11:57am
RedRider1's avatar

RedRider1

Senior Member

3,850 posts
Feb 21, 2012 12:43 PM
Trying hard not to be "that guy".....but pay it in cash and you wont need an increase.

Guessing credit card companies are being awfully stingy about who they extend credit to, and how much....so probably not as easy as it used to be.

I had two cards i dont even use anymore get their limits slashed...one went from $5,000 limit down to $200.
Feb 21, 2012 12:43pm
bases_loaded's avatar

bases_loaded

Senior Member

6,912 posts
Feb 21, 2012 12:47 PM
Only credit I pay is my mortgage, hope this helps.

Pay cash
Feb 21, 2012 12:47pm
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Feb 21, 2012 12:51 PM
Still not a bad thing to request a credit limit increase since one of the inputs to your credit score is available credit/debt. Just don't get the increase only so you can spend up to that amount and not pay it off.
Feb 21, 2012 12:51pm
S

sportchampps

Senior Member

7,361 posts
Feb 21, 2012 12:56 PM
About 6 months ago it became the norm to now have hard inquiry's for all cli requests. There are only a couple exceptions

1) an emergency request for a temporary cli

2) if they have recently reviewed your acct and raised it on their own they do this about every 6 to 9 months
Feb 21, 2012 12:56pm
F

fan_from_texas

Senior Member

2,693 posts
Feb 21, 2012 1:25 PM
sportchampps;1091967 wrote:About 6 months ago it became the norm to now have hard inquiry's for all cli requests. There are only a couple exceptions

1) an emergency request for a temporary cli

2) if they have recently reviewed your acct and raised it on their own they do this about every 6 to 9 months
Interesting, and good to know.

I've been a Chase card holder for almost a decade now. About once a year, I send them an e-mail (and follow-up via a phone call) to request an increase to my credit limit. I explain what I want, and why, and they've routinely granted it. I haven't tried within the past few months, but I've always had success. Try providing a reason (e.g., I'm planning to travel in the near future, and I need an additional X,000 added to my limit).
Feb 21, 2012 1:25pm
jpake1's avatar

jpake1

Senior Member

2,389 posts
Feb 21, 2012 5:12 PM
Nice to know Sports, makes sense. I never spend more than $200 a month on any one card of mine (probably average $70). I only do that just to keep it active. I pay it off in full every single time. I just want a higher credit utilization, something Aaron Rodgers hit on.
Feb 21, 2012 5:12pm
R

raiderbuck

Senior Member

1,623 posts
Feb 21, 2012 10:35 PM
I don't think there is a way around requesting a CLI without a inquiry on your credit. Whether it be hard or soft. The issue isn't the hit on the report, it's the number of hits. As in how frequent you ask for the increase, relative to how you actually use the line.
Feb 21, 2012 10:35pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Feb 21, 2012 11:59 PM
jpake1;1091913 wrote:Has anybody had any luck in successfully requesting a CLI with Chase that didn't involve a hard inquiry? I never had a problem getting the requested limit with just a soft inquiry in years past with Citi. I just tried Chase and it was a no go without a hard inquiry. Anybody have any success stories or tips?

Not with chase. But Citi did it no problem.
Feb 21, 2012 11:59pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Feb 22, 2012 12:03 AM
j_crazy;1092686 wrote:Not with chase. But Citi did it no problem.

FWIw. Chase doesn't seem like a good creditor.
Feb 22, 2012 12:03am
Sykotyk's avatar

Sykotyk

Senior Member

1,155 posts
Feb 22, 2012 12:47 AM
If you have an account with a bank and they request your credit report it's not really 'seen' as a request for credit. You already have an account.

What other banks are looking for is requests for your report from groups that you don't have accounts with, and requests that are for accounts that were just recently opened. Because they want to question why you're suddenly out looking to open up a lot of new credit accounts.
Feb 22, 2012 12:47am
L

lolpha

Feb 22, 2012 12:49 AM
Just ask LJ, he'll Google it for you and pretend like he knew it all along.
Feb 22, 2012 12:49am
G

gut

Senior Member

15,058 posts
Feb 22, 2012 1:53 AM
gorocks99;1091966 wrote:Still not a bad thing to request a credit limit increase since one of the inputs to your credit score is available credit/debt. Just don't get the increase only so you can spend up to that amount and not pay it off.
Bingo! It's also a good idea to have two cards, A VISA and either a Mastercard or Amex, because not all are accepted everywhere and if you don't carry much cash or checks like me you can be screwed if the magnetic strip craps out. I forget the number, but an average outstanding balance exceeding only 25% or 40% of your available credit dings you, even if you pay it off every month.

And I think most CC companies are all doing hard inquiries now. It's only a temporary blip on your score, really. You don't want very many, other things have far more impact on your score.

Besides, if the hard inquiry bothers you see if you can't get a second CC type for maybe $5000 and it can be quick and painless, but like I said I think they all do hard inquiries now for any worthwhile increase.
Feb 22, 2012 1:53am
M

Manhattan Buckeye

Senior Member

7,566 posts
Feb 22, 2012 3:28 AM
Sykotyk;1092742 wrote:If you have an account with a bank and they request your credit report it's not really 'seen' as a request for credit. You already have an account.

What other banks are looking for is requests for your report from groups that you don't have accounts with, and requests that are for accounts that were just recently opened. Because they want to question why you're suddenly out looking to open up a lot of new credit accounts.
I don't have a "regular" bank account with Chase or Citi, but this seems correct to me. If you have a pre-existing relationship with the underlying bank it would seem that they already have enough information that a hard credit check isn't needed. This situation happened to us this past August, and we absolutely needed a credit limit extension or else my wife wasn't paying her hotel bill for a 3 week work trek. It really wasn't a problem, the card was an air miles AMEX but it was sponsored by our checking/savings bank resulting in a 10 minute ordeal. Just explain why you need the increased limit and they can check your banking records without a hard check. If you aren't a Chase customer aside from the card, I can see how they might pull up more info.
Feb 22, 2012 3:28am
thedynasty1998's avatar

thedynasty1998

Senior Member

6,844 posts
Feb 22, 2012 8:04 AM
If you are paying cash for a house, why do you care about a pull of your credit? You really think your score will be impacted that much?
Feb 22, 2012 8:04am
jpake1's avatar

jpake1

Senior Member

2,389 posts
Feb 25, 2012 10:48 AM
It won't be impacted much, but I also don't need an increase. Since I don't need it, I'd rather just keep my credit score in great terms. I have another card with a $7,500 limit, but found it odd that my other card only has $1,300. It never increased after a few good years of being a customer, so I wanted to see if I could make it happen quick and easy like I've done with Citi.
Feb 25, 2012 10:48am
jordo212000's avatar

jordo212000

Senior Member

10,664 posts
Feb 25, 2012 10:54 AM
Chase increases my credit limit about once every 5-6 months
Feb 25, 2012 10:54am