Last edit by: beltway
This thread is now archived. For later discussion, see the threads starting at May 2015 (now also closed) and January 2017 (current, with updated wiki).
Applying for Chase Credit Cards- Archived 2008-5/2015
#3136
Join Date: Sep 2005
Programs: Northwest, United
Posts: 3,257
Yeah, I have been very actively managing the CLs for all our cards through the other major card issuers, but not with Chase. I've been with them a looong time, and the "preserve the high CLs, then trade them if needed" has been a regular part of new cards.
She does have more than a few HPs in the past 6 months, including two others from Friday. Not sure how much that played a role in this case.
I will probably reduce her CL on a couple cards in the next few days, in anticipation of following up on this one. We'll see.
She does have more than a few HPs in the past 6 months, including two others from Friday. Not sure how much that played a role in this case.
I will probably reduce her CL on a couple cards in the next few days, in anticipation of following up on this one. We'll see.
#3137
Join Date: Mar 2010
Posts: 468
I have 6 open personal cards with Chase, and have closed 2 over the last few years. I have noticed with my last two approvals, both online instant approval, Chase pulled both TU and EX. Previously, Chase only pulled TU for me. I am just curious if anyone else has had this happen once they had several cards open? The last two cards were opened 12 months apart, by the way.
#3138
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
If you read upthread you would find the discussion on why some of us choose to lower CLs instead of hoarding them (the very outdated play book from the financial crisis 6 years ago). Had your wife reduces those high CLs to a level that leaves much more head room in terms of the total exposure Chase is willing to give her, she would have instant approval versus recon calls. Your choice on which is more palatable. Read back and draw your own conclusion. It is not hard to find one's "magic number: - when you are not getting instant approval and each time must move CL, you know you are at the max. It is up to you to diligently manage your total lines if you want to play this game.
It was approved a day later, but I got the message. I did some SMing and lowered my total CL to $30K, keeping a fair amount on my CSP for use traveling, but lowering everything else to around $2K or $3K. Since then I've been keeping that $30K as an upper limit. Every Chase app since then has gotten an instant approval.
I think the 'keep as much CL as you can to more at Recon' is outdated advice. Better to not need to call Recon, and avoid having someone look too closely at your Chase accounts. Best way to achieve that is to keep your CLs down. I keep around $5K more than I need on a regular basis just in case I would need to move some CL, but beyond that I only have the CL I expect to actually use on each card.
#3140
Join Date: Apr 2014
Location: ORD
Programs: AAdvantage, UA, Avios
Posts: 637
There's more here like a few FICO points not making a difference for most on the boards, but I will leave that alone.
Some people are not certain that they can get approvals when they call in for whatever reason (see the US Airways card) or they value their time highly enough to not want to have to call.
#3141
Join Date: Nov 2014
Location: NYC
Posts: 581
False. Once you have a certain amount of credit available from credit cards, additional credit does NOT increase your FICO score. So reducing you CL does not lower you FICO if you are above this number. My guess is if you have something like $50k+ in credit card CLs available, it makes no difference if you lower you CL..
#3142
Join Date: Apr 2014
Location: ORD
Programs: AAdvantage, UA, Avios
Posts: 637
If all the balance is on the same card and the CL of that card is low, then maybe. But that is a much more nuanced argument and if you are doing that you probably shouldn't be flipping cards anyhow.
Either way we are talking about a few points here, give or take. Makes no difference to approvals especially if you know your FICO inside and out.
*Team Lower CL*
#3143
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
But for those of us who used to have @$60K with AMEX, @$60K with Chase, @$50K with Citi, @$35K with Barclays, @$30K with US Bank, and @$30K with B of A, and who pay off 98% of all of our charges before they even post to a statement, cutting that $265K total CL down to a mere $135K is not going to affect our FICO scores at all.
I apply for 16 to 18 ccs a year, and reduce the CL on all of them once I meet the min spnd. Yet according to Barclays my current FICO is 785. If I applied for only half a dozen cards a year, my FICO could easily be well over 800. But what would be the point of that?
Remember, this discussion started with someone whose app was put on hold until they send in financial records after their app got sent to a "senior credit analyst" because they have such a high CL with Chase it's making Chase nervous. Something none of us want to have to go thru...
#3144
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
Sorry, I don't entertain challenges to my proclamations. To wit:
RNE, adamant.
- Credit reviews are good (not bad) for the applicant
- Instant approval is irrelevant
- Don't manipulate anything with a bank
RNE, adamant.
#3145
Join Date: Jul 2003
Location: Wine Country, Finger Lakes
Programs: LFFRS BOD
Posts: 1,355
deleted
Last edited by duranza; Mar 30, 2015 at 3:18 pm
#3146
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
As for "adamant", I don't think that word means what you think it means:
https://en.wikipedia.org/wiki/Adamant
#3147
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
- Credit reviews are good for consumers because if they cannot pass them then maybe they shouldn't get another credit card, hmm?
- What matters is approval. Instant approval is vainglorious.
- Systematically manipulating credit lines with the intent to influence the automated approval system makes a good excuse for Chase to lower the boom.
#3148
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
- Credit reviews are good for consumers because if they cannot pass them then maybe they shouldn't get another credit card, hmm?
- What matters is approval. Instant approval is vainglorious.
- Systematically manipulating credit lines with the intent to influence the automated approval system makes a good excuse for Chase to lower the boom.
#3150
Join Date: Jun 2014
Location: FL
Programs: AA EXP, Hyatt Diamond, SPG Plat, IC Plat Amb, HH Diamond, Marriott Platinum
Posts: 1,299
I have 6 open personal cards with Chase, and have closed 2 over the last few years. I have noticed with my last two approvals, both online instant approval, Chase pulled both TU and EX. Previously, Chase only pulled TU for me. I am just curious if anyone else has had this happen once they had several cards open? The last two cards were opened 12 months apart, by the way.