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Started By
Message
Asking for a Limit Increase (Chase Freedom)
Posted on 10/8/12 at 1:22 pm
Posted on 10/8/12 at 1:22 pm
My limit is currently $1500 per month and I never carry a balance. I'm a responsible card user and only use it for the rewards. Do I just call and ask for an increase and how much should I ask for? I would like about $2000-$2500...
9
Posted on 10/8/12 at 1:25 pm to Hoyt
1st thing is 1st... How long have you had the card? Credit Card companies generally will not even consider giving a increased credit limit without having the card for at least 6 months 
Posted on 10/8/12 at 1:26 pm to BACONisMEATcandy
1 year this month
Posted on 10/8/12 at 1:34 pm to Hoyt
Then it should be fine no problem. I would go with a little more than you think you will need because you sound responsible enough not to use the credit simply because you have it.
I would ask for 3,000 - 3,500.
I would ask for 3,000 - 3,500.
Posted on 10/8/12 at 1:51 pm to Hoyt
quote:
My limit is currently $1500 per month
Posted on 10/8/12 at 1:56 pm to Hoyt
quote:
My limit is currently $1500 per month and I never carry a balance. I'm a responsible card user and only use it for the rewards. Do I just call and ask for an increase and how much should I ask for? I would like about $2000-$2500...
Are you looking to purchase something around the $2500 mark shortly?
Posted on 10/8/12 at 1:59 pm to Powerman
quote:quote:
My limit is currently $1500 per month
Can you really not comprehend what he is saying here?...Does it really "confuse" you? It makes sense due to the fact he pays it off in full each month. Stop nit-picking
Posted on 10/8/12 at 2:35 pm to Hoyt
I asked to increase from 2 to 4k. They approved the increase.
Posted on 10/8/12 at 2:53 pm to Hoyt
You must have shitty credit. They automatically upgraded me to the Double Deluxe Diamond card. $1MM limit.
:ot:
:ot:
Posted on 10/8/12 at 3:12 pm to bunky
FWIW, I had a good friend that worked for Wells Fargo. He says that they would typically approve a $500 limit increase every 6 months.
I have actually had Wells Fargo increase my limit by $1500 when my balance was within $500 of my current limit without me asking.
I have actually had Wells Fargo increase my limit by $1500 when my balance was within $500 of my current limit without me asking.
Posted on 10/8/12 at 7:11 pm to Swifty
I had a $1000 limit on my first student credit card. I called to get a minor limit increase and they bumped it up to $5500.
Posted on 10/8/12 at 8:58 pm to Dead Mike
quote:
I had a $1000 limit on my first student credit card. I called to get a minor limit increase and they bumped it up to $5500.
Posted on 10/10/12 at 9:54 am to Hoyt
You can do requests for limit increases through the online message center as well. Another thing to keep in mind when asking for a limit increase, assuming you're a responsible card user, is that you want to keep your balance under 30% of your limit for credit score purposes. You start to get dinged on your scores if you use a large percentage of the credit available to you.
Posted on 10/10/12 at 12:04 pm to Hoyt
I wrote to Chase about their recommendation on how to properly ask for an increase. I'll paste their response below:
I did not continue because my credit had recently been pulled for several things (new vehicle, mortgage pre approval etc.) and figured too many pulls would have a negative effect.
quote:
Dear ___________, Thank you for contacting us about the credit line increase on your account ending in ____.
I will be happy to process your request for a credit line increase. In order to do so, please reply to this email with the following information:
* Gross Annual Income (Alimony, child support or separate maintenance income need not be revealed if you do not want to consider these as a basis for repayment. Gross Annual Income is income that you are able to use for repaying your debts. Examples may include income earned from salaries, investments, rental properties, Social Security benefits and retirement accounts.)
* Total credit line you are requesting (Current credit line plus amount of requested increase.)
Further, by submitting a request for a credit line increase, you authorize Chase to obtain a copy of your credit report, credit bureau history and any other information in order to determine if the request can be approved.
After your request has been processed, you will be notified of the outcome via email.
I look forward to hearing from you soon. If you have any further questions, please reply using the Secure Message Center.
Thank you, Sharmila DSouza Customer Service Specialist
I did not continue because my credit had recently been pulled for several things (new vehicle, mortgage pre approval etc.) and figured too many pulls would have a negative effect.
Posted on 7/13/13 at 6:50 pm to Hoyt
Resurrecting this old thread instead of posting my own:
I'm a young professional with a significant amount of student loan debt, so I have a very mixed situation. Income and prospective income are both solid, but my short credit history combined with my loan debt is a big negative. So, Chase gave me a bit of resistance in getting a Freedom card being I previously had no relationship with Chase, but ultimately gave me one with a $1,000 limit. I've had it a bit over a month (obviously a much different situation than the OP) but my issue is that I've had to make two mid-month payments (of the full balance) to stay under my credit limit on top of paying my balance in full at the end of the month. As I'm using the Freedom as my primary card and put nearly all purchases on it, I'm finding my credit limit to be rather constricting. How long does the MT board think I need to continue this practice, which screams "I both need and can handle a higher limit", before I can justify asking for an increase?
I'm a young professional with a significant amount of student loan debt, so I have a very mixed situation. Income and prospective income are both solid, but my short credit history combined with my loan debt is a big negative. So, Chase gave me a bit of resistance in getting a Freedom card being I previously had no relationship with Chase, but ultimately gave me one with a $1,000 limit. I've had it a bit over a month (obviously a much different situation than the OP) but my issue is that I've had to make two mid-month payments (of the full balance) to stay under my credit limit on top of paying my balance in full at the end of the month. As I'm using the Freedom as my primary card and put nearly all purchases on it, I'm finding my credit limit to be rather constricting. How long does the MT board think I need to continue this practice, which screams "I both need and can handle a higher limit", before I can justify asking for an increase?
This post was edited on 7/13/13 at 6:51 pm
Posted on 7/13/13 at 6:59 pm to Joshjrn
6 months, or if Chase specifies a certain number of months before credit limit increase
Posted on 7/13/13 at 7:29 pm to Joshjrn
Rick is right about 6 months. I got a Chase Sapphire Preferred with 6K limit. A month or so later, with hesitation, they gave me the Freedom with a 1K limit and knocked my Sapphire down to 5K. Fine by me, but they noted that 6 months is when they would look again, and also, 6 months is when my $10,000 limit card I got in January (so July/this month) would begin affecting their decision to raise my limits.
The next time they check, they will consider that 10k card and probably boost me up. Just hold tight.
The next time they check, they will consider that 10k card and probably boost me up. Just hold tight.
Posted on 7/13/13 at 7:32 pm to Joshjrn
I pay my CC bills on my phone. How burdensome is it to do that once a week?
Posted on 7/13/13 at 7:34 pm to Athanatos
quote:
I pay my CC bills on my phone. How burdensome is it to do that once a week?
The "burden" is not being able to make large purchases without having to check every damn time and then wait a day or two until payment applies.
Also, with Chase, you can't "pull" pay on their site more than once every 3 days. You can get around this by "pushing" the payment from your bank, but if you are doing both at the same time you can forget how much you set to pay. It really is a pain in the arse at times.
Posted on 7/13/13 at 7:50 pm to Hoyt
I have two 5k limit cards and perfect credit. Chase switched over an old student card that I didn't use any more to a Chase Freedom and only gave me an $800 limit. When I asked for an increase I was denied. I think they are extra strict about requests when the user has any recent credit inquiries as I had just requested a bump from Amex.
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