Chase appears to have recently started applying the infamous 5/24 (524) rule to proactive credit-limit increase applications. If you request a credit-limit increase on a Chase card, you may get an HP (hard pull). A reader at DOC found that after requesting a credit-line increase, they received the classic 524 denial line:
Too many credit cards opened in the last two years associated with you
It is still unknown whether Chase is applying this policy to all proactive credit-limit increase applications for all Chase cards.
If you submit your own request and get an HP but are also denied due to 5/24, it can be a poor trade-off. If this policy is being fully enforced, then in a 5/24 situation, your options for future increases are basically two:
- Run solid spending activity—Chase may auto-raise your limit.
- Move available credit from another card (for example, a side drawer card) to the card you need, either by phone or by sending an SM.
Also, fair warning: if your card’s limit is insufficient and you use the Circle CL method (charge, pay, and charge again) to do large-volume spending, it can get you in serious trouble. Chase has long been very sensitive to this behavior.
HT: DOC