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GeorgeTheGreek
Michigan State Fan
Sparta, Greece
Member since Mar 2008
55020 posts

Credit Line Increase Question
Long story short...

I was logged into the chase website and saw I was approved already for the Freedom Unlimited with a 21,000 credit line.

I currently have the Sapphire Reserve and figured I’d call and just ask for a credit line increase to that card since I don’t want a new credit card at this time.

I was told in order to do this that they make a hard inquiry into my credit, which of course would ding my credit score. (My whole reason for asking for the increase was to up my score)

Is that typical of a credit line increase to pull a hard inquiry? Or just some Chase wizard like frickatry?

Thanks all.


ItzMe1972
Member since Dec 2013
2661 posts

re: Credit Line Increase Question
Unless you're about to get a mortgage, I wouldn't worry about a short term "ding" to your credit score.


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131
TDsngumbo
USA Fan
Member since Oct 2011
18040 posts

re: Credit Line Increase Question
I was just upped to $20,000 on my BoA card yesterday with only a soft pull to my credit.


Carson123987
Texas Fan
Middle Court at the Rec
Member since Jul 2011
61672 posts

re: Credit Line Increase Question
chase is the only bank ive seen that does hard pulls for CLIs. infuriating


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GeorgeTheGreek
Michigan State Fan
Sparta, Greece
Member since Mar 2008
55020 posts

re: Credit Line Increase Question
quote:

I was just upped to $20,000 on my BoA card yesterday with only a soft pull to my credit.


Well frick.

Sometimes, though rarely, Chase will automatically raise my credit line. The operator said when they do that it’s only a soft pull.

Seems like some bull shite that they hard pull for a request, but a soft pull if it’s done internally.
This post was edited on 9/10 at 8:31 pm


Stingy
LSU Fan
TN
Member since Mar 2014
1239 posts

re: Credit Line Increase Question
The credit check won't affect your credit score at all. In fact, once you get the new card your score will increase bc of the change in debt to credit ratio.


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23
lsu xman
Member since Oct 2006
12824 posts

re: Credit Line Increase Question
Do you carry a balance with the card?

I have 4 cards with Chase. All without a balance and some I haven't used in years. They already canceled one due to inactivity.

All the credit lines are around 5-10K. I dont think they would be willing to increase my credit line.

My BoA card has a 20K credit line. Same with Citi.


yatesdog38
Mississippi St. Fan
in your head rent free
Member since Sep 2013
7642 posts

re: Credit Line Increase Question
This sounds dirty. Is pulling credit some kind of millennial code?

If you have the ability to qualify for a 20k line of credit and worried about a short term ding then you might need to reevaluate your credit situation, what types you are using and why you are using it at all.


lnomm34
Clemson Fan
Louisiana
Member since Oct 2009
11071 posts

re: Credit Line Increase Question
quote:

I have 4 cards with Chase. All without a balance and some I haven't used in years. They already canceled one due to inactivity



Chase closed like three of my five cards due to inactivity. Some I had for ten years. I don’t remember seeing a letter or any communication saying they were going to close them. It did affect my score slightly, but nothing I’m worried about. Just a little aggravating.


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LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
16939 posts

re: Credit Line Increase Question
quote:

Sometimes, though rarely, Chase will automatically raise my credit line. The operator said when they do that it’s only a soft pull.


We've had 4 "given" CLIs over last 3 years (i.e. we didn't ask for them) on a Chase card. No hard pull.


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GeorgeTheGreek
Michigan State Fan
Sparta, Greece
Member since Mar 2008
55020 posts

re: Credit Line Increase Question
quote:

If you have the ability to qualify for a 20k line of credit and worried about a short term ding then you might need to reevaluate your credit situation


Nah, I’m good. My credit score is like 775. It’s more just the principal of it all that annoys me.


nugget
LSU Fan
Member since Dec 2009
8389 posts

re: Credit Line Increase Question
If you're a CSR customer I can't believe they'd do this. I would tell them to increase it or you're going to take the new offer from AMEX Platinum.


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bubbz
Baylor Fan
Baton Rouge
Member since Mar 2006
21499 posts

re: Credit Line Increase Question
Big banks like Chase have the capabilities to do soft pulls and increase your line at random times, but when someone verbally or in person requests an increase, then naturally they will want to do a hard pull because they may suspect you’re in a tough situation.

Why else would you be requesting an increase if you didn’t have plans to use it?


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
7272 posts

re: Credit Line Increase Question
quote:

Why else would you be requesting an increase if you didn’t have plans to use it?


Debt utilization purposes


GeorgeTheGreek
Michigan State Fan
Sparta, Greece
Member since Mar 2008
55020 posts

re: Credit Line Increase Question
quote:

Debt utilization purposes


RoscoeHarper
Houston Astros Fan
Edmond, OK
Member since Aug 2011
2805 posts

re: Credit Line Increase Question
quote:

Chase closed like three of my five cards due to inactivity. Some I had for ten years. I don’t remember seeing a letter or any communication saying they were going to close them


You signed up for that when you signed up for the card. Would have been disclosed on your account opening disclosures, which you probably didn't read.


Lazy But Talented
New Orleans Saints Fan
Dallas
Member since Aug 2011
11967 posts

re: Credit Line Increase Question
They closed a couple of mine recently as well. Think they sent me something in the mail for both.


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bubbz
Baylor Fan
Baton Rouge
Member since Mar 2006
21499 posts

re: Credit Line Increase Question
The truth is, while you may be doing it for this reason, 99% of other clientele are raising the limit for purchases.


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