My relationship with Chase has been up and down over the last week. At the moment, I carry two Chase cards; the Sapphire Reserve and Ink Business Plus. I’m not a hardcore churner, so these are actually the only two Chase cards I’ve ever had. Anyway, my business has been a little crazy over the last month. Several expenditures caused us to hit our credit limit long before the billing cycle ended. As a result I called up Chase and requested an increase in available credit. Much to my surprise, Chase denied my business credit limit increase.
The Background: Chase Credit Limit Increase Denial
The Ink Business Plus card was opened approximately a year ago with a $10,000 limit. My credit score is roughly 815 and I was required to offer a personal guarantee. At the time I was slightly surprised with the limit since new cards I’m approved for typically have a higher allowance. No big deal though, we had just started the business and didn’t need a higher limit. Approximately six months later, Chase automatically increased my limit to $14,000.
Flash forward to last week and I was stuck with a credit limit increase denial. I had requested the increase to be from $14,000 to $30,000. So I did what everyone else does when denied, I called up the reconsideration line. I kindly asked the representative to review my case and see if there was anything he could do. He flatly said no, he had zero options for me.
Well then, it was on to plan B, shifting credit around. I remarked that I currently have a $35,000 limit on the Sapphire Reserve which is paid off each month. Could I just shift $10,000 from that over to the business card? Again, a quick no from Chase. The representative advised that he wasn’t able to move credit from a personal card to a business card. I think that’s odd since I offered a personal guarantee, but I don’t make the rules. And with that, I gave up. For now…
Chase Denied My Business Credit Limit Increase: The Irony
A few days later, fresh off my defeat at the hands of Chase customer service, I settled back into points and miles mode. I remembered that I’ve been meaning to snag the 100,000 point Marriott sign up bonus that everyone is talking about. Who issues that card again? You guessed it, Chase. Luckily, unlike all you churners, I’m under Chase’s 5/24 rule, therefore eligible to open a new credit card account. But would they accept a new application after denying my credit limit increase a few days earlier?
Yes, Chase instantly approved my application for the Marriott Rewards credit card. Not only was it approved, but I was given a $33,000 credit limit. Makes sense, right? We won’t give you an extra $16,000 for your business, but sure take another $33,000 a few days later!
I still don’t understand the logic in how Chase makes these decisions. Perhaps there’s good reasons to prohibit higher limits on business cards despite personal guarantees. Maybe there’s another reason to not allow the movement of credit from personal cards to business cards. Or perhaps I just spoke to the wrong person and another call could straighten it out. Either way, 100,000 Marriott points are coming my way, so no time to get back on the phone with Chase. I’ve got a vacation to plan.