I just received an automatic credit line increase on my Chase Sapphire Preferred (SP) card from $16K to $25K. Mind you, I’ve only had the card about 4 months.
Here’s the timeline:
- Jan 2016: I open the SP card and was given a $16K limit.
- Feb 2016 Statement: $6.1K charges, which are paid in full (PIF) the day after statement is cut
- Mar 2016 Statement: $1K in charges, which are PIF before the statement is cut
- Apr 2016 Statement: $6K in charges, which are PIF the day after the statement is cut
- May 2016 Statement: $2.7K in charges, which ae PIF before the statement is cut. This is statement that says “Congratulations! Your credit line has been increased.”
A bit more info that might be relevant. I have a second Chase card – a Freedom card – that was also opened in Jan 2016. It has a $5.5k limit and I haven’t received an increase. Then again, there’s been pretty light activity until the most recent (May) statement. I just charged $4.5k and plan to take advantage of a 0% promotional offer.
My overall credit card utilization is about 2%.
After reading here about how stingy Chase usually is with CLIs, I was pleasantly surprised by this generous of an increase in this short of a timeframe. Thanks Chase!