Asking for a Limit Increase (Chase Freedom) | TigerDroppings.com

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Hoyt
Alabama Fan
Alabama: The Beautiful
Member since Aug 2011
1251 posts

Asking for a Limit Increase (Chase Freedom)



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...






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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41965 posts

re: Asking for a Limit Increase (Chase Freedom)


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





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Hoyt
Alabama Fan
Alabama: The Beautiful
Member since Aug 2011
1251 posts

re: Asking for a Limit Increase (Chase Freedom)


1 year this month





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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41965 posts

re: Asking for a Limit Increase (Chase Freedom)


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.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120872 posts

re: Asking for a Limit Increase (Chase Freedom)


quote:

My limit is currently $1500 per month






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Will Cover
Washington Fan
Whiskey Dick Mountain, WA
Member since Mar 2007
25326 posts

re: Asking for a Limit Increase (Chase Freedom)


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?









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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
41965 posts

re: Asking for a Limit Increase (Chase Freedom)


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






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Asking for a Limit Increase (Chase Freedom)


I asked to increase from 2 to 4k. They approved the increase.





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bunky
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4471 posts

re: Asking for a Limit Increase (Chase Freedom)


You must have shitty credit. They automatically upgraded me to the Double Deluxe Diamond card. $1MM limit.
:ot:






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Swifty
LSU Fan
Member since May 2012
947 posts

re: Asking for a Limit Increase (Chase Freedom)


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.






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Dead Mike
LSU Fan
Cell Block 4
Member since Mar 2010
1807 posts

re: Asking for a Limit Increase (Chase Freedom)


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.





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Will Cover
Washington Fan
Whiskey Dick Mountain, WA
Member since Mar 2007
25326 posts

re: Asking for a Limit Increase (Chase Freedom)


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.








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Tenforty1728
LSU Fan
Baton Rouge
Member since Oct 2012
64 posts

re: Asking for a Limit Increase (Chase Freedom)


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.





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Dan
LSU Fan
Houston
Member since Dec 2006
2196 posts

re: Asking for a Limit Increase (Chase Freedom)


I wrote to Chase about their recommendation on how to properly ask for an increase. I'll paste their response below:

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.






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Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
6319 posts

re: Asking for a Limit Increase (Chase Freedom)


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?



This post was edited on 7/13 at 6:51 pm


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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

re: Asking for a Limit Increase (Chase Freedom)


6 months, or if Chase specifies a certain number of months before credit limit increase





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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
19988 posts

re: Asking for a Limit Increase (Chase Freedom)


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.






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Athanatos
Vanderbilt Fan
Baton Rouge
Member since Sep 2010
6548 posts

re: Asking for a Limit Increase (Chase Freedom)


I pay my CC bills on my phone. How burdensome is it to do that once a week?





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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
19988 posts

re: Asking for a Limit Increase (Chase Freedom)


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.






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Chris Farley
Maryland Fan
Regulating
Member since Sep 2009
3715 posts

re: Asking for a Limit Increase (Chase Freedom)


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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