Involuntary Credit Limit increases

Discussion in 'Other Credit Card Programs' started by boondr, Nov 5, 2012.  |  Print Topic

  1. boondr

    boondr Gold Member

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    I am getting ready for my next round of cards and took a look at my credit reports. It seems that Chase increased my limit on my CSP by $3000 for reasons unknown in the last week. I have 4 personal cards with them and a total available credit that exceeds 60k on those cards, the CSP did have the lowest limit and one of two I use regularly but I never even exceeded a 50% utilization rate on the card and only surpassed 30% for the time it took a new payment to clear (no statement processed above 25%). Why would they increase my limit without request and can this hurt me in my next round of Apps?


    -data point across all my cards my utilization from month to month reports at less than 3%
     
  2. LETTERBOY
    Original Member

    LETTERBOY Gold Member

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    Bank of America has done this to me twice. I don't know why they did it, and I really don't care, as there was no hit on my credit report. If anything, it may have helped my score a little, as my overall spending remained the same, but my percentage of credit utilization went down.
     
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  3. Counsellor
    Original Member

    Counsellor Gold Member

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    When they do this, if you don't want the incease you can call them and they'll lower it back.
     
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  4. servo

    servo Silver Member

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    You can also request when you activate your card that they disable any automatic increase checks. I do that for all the cards where I don't plan to hang onto them after the annual fee comes due.
     
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  5. rodeojones

    rodeojones Silver Member

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    Is there a way to do that after you have activated the card? Maybe in the account settings?
     
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  6. servo

    servo Silver Member

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    I've never found that option available online no matter which bank it's through - before I started doing it at activation, I only found out the option existed when trying to lower the limit on my oldest NAF card that I don't use often. I suspect you have to call customer service to do it.
     
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  7. WhiteDesert

    WhiteDesert Silver Member

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    It just happened to me as well last month. Chase increased my CSP and my Freedom limits without any initiation on my part (5K for both cards). I'm fine with that.
     
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  8. Voodard

    Voodard Active Member

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    CLI's initiated by the bank usually occur when they are doing their annual evaluation of your interest rate.
     
  9. TravelBear

    TravelBear Gold Member

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    A long time ago I called to have a limit decreased......the rep had no idea how to do it. They were only used to increase requests. It was kind of comical.
     
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