Ask Chase to reduce credit limit after approval?
Sep 25, 2016, 8:42 pm
#46
Join Date: Apr 2015
Posts: 456
Interesting. I had Chase tell me to do the exact opposite. I typically always informed them when I was traveling and they emailed me telling me to stop telling them. I guess I travel enough that they didn't see much value in knowing my plans. I use my Chase card in foreign countries all the time, no problem. Interestingly, my brother had his Chase card declined when he tried to buy gasoline at a gas station in the California Central Valley, just 3-4 counties over. So their algorithms do take into account historical spending patterns when deciding whether or not to let a charge through. 
Jul 4, 2017, 9:20 pm
#47
Join Date: Jul 2017
Location: here, there, everywhere.
Posts: 3
Lowering my Credit Limit
I was approved for a chase freedom unlimited. The reason I will be calling them tomorrow to lower my credit limit from 15k to 2k is because I'm absolutely TERRIFIED I'll overspend.
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
Jul 4, 2017, 9:41 pm
#48
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
I was approved for a chase freedom unlimited. The reason I will be calling them tomorrow to lower my credit limit from 15k to 2k is because I'm absolutely TERRIFIED I'll overspend.
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
Jul 4, 2017, 10:08 pm
#49
FlyerTalk Evangelist
Join Date: Aug 2002
Location: Intermountain West
Programs: Too many to list
Posts: 12,082
I was approved for a chase freedom unlimited. The reason I will be calling them tomorrow to lower my credit limit from 15k to 2k is because I'm absolutely TERRIFIED I'll overspend.
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. 😑
Jul 5, 2017, 6:10 am
#52
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
Jul 13, 2018, 5:13 pm
#53
Join Date: May 2018
Posts: 54
Just giving my experience about lowering credit limits.
I have lots of CC's from chase I have Amazon Prime, CSR, 2x freedom, freedom unlimited, Ink Preffered, Hyatt, Old IHG, Marriott. My credit limit at that time was actually well above 50% my income. Heard Chase was going to expand 5/24 to other chase cards and wanted to apply for both of the new IHG cards. Decrease the limits on all my cards and was few k under 50% my income. Applied to both cards on same day. Both had 30 day message. Few days later, I was approved for the Premium Chase IHG card and still pending for the Traveler card. Chase called me and asked for more information and said I am denied for the traveler card because they can't offer me more credit. Then they hung up on me, I called back and asked to transfer few k from my CSR to the traveler and was approved.
I should have kept my credit limits and applied and ask them to take credit from my other cards instead of decreasing my limit.
I have lots of CC's from chase I have Amazon Prime, CSR, 2x freedom, freedom unlimited, Ink Preffered, Hyatt, Old IHG, Marriott. My credit limit at that time was actually well above 50% my income. Heard Chase was going to expand 5/24 to other chase cards and wanted to apply for both of the new IHG cards. Decrease the limits on all my cards and was few k under 50% my income. Applied to both cards on same day. Both had 30 day message. Few days later, I was approved for the Premium Chase IHG card and still pending for the Traveler card. Chase called me and asked for more information and said I am denied for the traveler card because they can't offer me more credit. Then they hung up on me, I called back and asked to transfer few k from my CSR to the traveler and was approved.
I should have kept my credit limits and applied and ask them to take credit from my other cards instead of decreasing my limit.
Jul 13, 2018, 5:44 pm
#54
Join Date: Feb 2009
Posts: 6,606
I was approved for a chase freedom unlimited. The reason I will be calling them tomorrow to lower my credit limit from 15k to 2k is because I'm absolutely TERRIFIED I'll overspend.
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. ��
I read all the comments, and I know I may not get the credit back but credit cards are demons and I'd rather not be stuck with debt I can't pay because I have 0 self control. ��
Do yourself a favor and pay cash, this game is not for you.
Jul 13, 2018, 5:46 pm
#55
Join Date: Feb 2009
Posts: 6,606
Just giving my experience about lowering credit limits.
I have lots of CC's from chase I have Amazon Prime, CSR, 2x freedom, freedom unlimited, Ink Preffered, Hyatt, Old IHG, Marriott. My credit limit at that time was actually well above 50% my income. Heard Chase was going to expand 5/24 to other chase cards and wanted to apply for both of the new IHG cards. Decrease the limits on all my cards and was few k under 50% my income. Applied to both cards on same day. Both had 30 day message. Few days later, I was approved for the Premium Chase IHG card and still pending for the Traveler card. Chase called me and asked for more information and said I am denied for the traveler card because they can't offer me more credit. Then they hung up on me, I called back and asked to transfer few k from my CSR to the traveler and was approved.
I should have kept my credit limits and applied and ask them to take credit from my other cards instead of decreasing my limit.
I have lots of CC's from chase I have Amazon Prime, CSR, 2x freedom, freedom unlimited, Ink Preffered, Hyatt, Old IHG, Marriott. My credit limit at that time was actually well above 50% my income. Heard Chase was going to expand 5/24 to other chase cards and wanted to apply for both of the new IHG cards. Decrease the limits on all my cards and was few k under 50% my income. Applied to both cards on same day. Both had 30 day message. Few days later, I was approved for the Premium Chase IHG card and still pending for the Traveler card. Chase called me and asked for more information and said I am denied for the traveler card because they can't offer me more credit. Then they hung up on me, I called back and asked to transfer few k from my CSR to the traveler and was approved.
I should have kept my credit limits and applied and ask them to take credit from my other cards instead of decreasing my limit.
I lower the limit to about the $2K range on every card I churn right after I make the spend. 90% plus instant approvals
Jul 31, 2018, 9:42 am
#56
Join Date: Feb 2015
Location: New York
Posts: 230
I used to secure message them to decrease it everytime they increased it. But then I read that having a larger line actually helps your credit, because you have more liquidity. I say keep it unless you feel that you might splurge and go above what you're comfortable with
Jul 31, 2018, 1:46 pm
#57
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
I used to secure message them to decrease it everytime they increased it. But then I read that having a larger line actually helps your credit, because you have more liquidity. I say keep it unless you feel that you might splurge and go above what you're comfortable with
Also, specifically at Chase, they may assume you want no other cards when they increase your limits, and may increase them to the point where they have no more credit limit to give you for a new card (at which point you may have to try to get them to pull credit from an existing card in recon for a new card).
Jan 23, 2019, 2:23 pm
#58
Join Date: Nov 2014
Location: MCI
Posts: 698
Interesting points/discussion.
In about 2 weeks I'll have 5 total chase cards and from what I've been reading on other forms (reddit) it seems that some people say chase has a "hard cap" on total CL available to someone and that this may affect future card approval availability. Someone said it's 50% of annual salary? (as a CL upper limit).
Between the 5 cards, I'll be right around 110k of CL, which fortunately is not at 50% of my annual income yet, but I am worried it may affect future card approval if Chase does have a rule on how much total CL a person is allowed.
I'm also looking to potentially reduce CL as well due to this reason, but not 100% sure. One thing that may help in my situation is 3 are business cards which may be treated differently than personal consumer cards
In about 2 weeks I'll have 5 total chase cards and from what I've been reading on other forms (reddit) it seems that some people say chase has a "hard cap" on total CL available to someone and that this may affect future card approval availability. Someone said it's 50% of annual salary? (as a CL upper limit).
Between the 5 cards, I'll be right around 110k of CL, which fortunately is not at 50% of my annual income yet, but I am worried it may affect future card approval if Chase does have a rule on how much total CL a person is allowed.
I'm also looking to potentially reduce CL as well due to this reason, but not 100% sure. One thing that may help in my situation is 3 are business cards which may be treated differently than personal consumer cards
Feb 3, 2019, 7:47 am
#59
Join Date: Aug 2012
Posts: 6,752
Assuming aggregate utilization isn't an issue for you, makes no difference what you do, except lowering aggregate CLs may lead to a higher chance for auto-approvals. Even with max exposure leading to review, just call them to shift CL allocation, and they'll always approve, assuming you're not running afoul of the 5/24 rule.
Feb 28, 2019, 11:36 am
#60
Join Date: Nov 2014
Location: MCI
Posts: 698
Assuming aggregate utilization isn't an issue for you, makes no difference what you do, except lowering aggregate CLs may lead to a higher chance for auto-approvals. Even with max exposure leading to review, just call them to shift CL allocation, and they'll always approve, assuming you're not running afoul of the 5/24 rule.
Looks like even the 50% of annual income is not truly a rule of thumb. Very dependent on multi factors.
I had to shift some CL around to get the IHG card approved as noted there.