I recently just applied for the Chase Sapphire Preferred Credit Card and to my surprise I got instant approved this time. In the past, whenever I applied for a Chase personal or business credit card, I always got the dreading "under review" message and I had to call the reconsideration line to move credits around in order to get an approval. This time I received an instant approval after submitting the online application and that was not a coincidence by any means. It has something to do with how Chase calculates my overall income and how much credit limit they are willing to give me based on my total income. Here's the details.
Should You Consider Lowering Your Chase Credit Card Line Limit to Get Instant Approval For A New Chase Credit Card?
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    Chase Credit Limit Rule

    First, it helps to understand Chase rule when it comes to how they approve or deny a credit card's applicant based on the credit limit. 

    You are not limited to the number of credit cards you can have with Chase, but Chase is more concerned about the amount of total credit that they give to you based solely on your overall income. In other words, you can have multiple credit cards with Chase. Each card has a credit line limit, once you max out the total credit line limit that Chase gives you, they cannot approve you for a new credit card without moving the credit line from your existing card to your new card. This is one of the reasons why when you submit a new Chase application, you are not getting approved instantly. Your new card's application typically goes to pending and under review until your overall credit limit issue is resolved.

    Thanks for applying. We need to review your application a little longer.

    Chase Issues Credit Limit Up to 50% Of Your Total Income

    In my personal situation, my income has increased significantly over the past couple years. So when I applied for the Chase Sapphire Preferred Credit Card, I provided Chase with my new increased income and that triggered the instant approval on my application with Chase online. 

    There's an unwritten rule that Chase would extend credit line limit up to 50% of your total income. Chase considers your total income not just your employment alone, but also other monetary income that you receive such as business, investment, rental income, etc. So add all that up and then divide it by 50%, you'll get the maximum credit limit that Chase is willing to give you across all your personal and business Chase credit cards.

    For example:
    • Your total annual income is $100,000. 
    • 50% of that amount is $50,000. That $50k is the maximum credit limit Chase will give you. 
    • If you have multiple credit cards with Chase, start adding the credit line on each Chase card that you have (personal and business). 
      • If your total credit line exceeds $50,000, then Chase will not approve you for their new credit card without asking you to move some of the credit limit from your existing card. 
      • On the other hand, if your total credit line across all your Chase credit cards is a lot lower than $50,000, then any new Chase credit card's application is most likely approved instantly, provided that your credit history, etc. also meet Chase's satisfaction. 

    Should You Consider Lowering Your Chase Credit Card Line Limit to Get Instant Approval For A New Chase Credit Card?

    If you are looking to apply for a new Chase credit card, it is important to know that while Chase does not limit how many credit cards you have with them, they do take into consideration the total credit line limit that they give you based on your overall income that you provide on the application. This is why some people consider lowering Chase credit card limit before applying for a new Chase card hoping for an instant approval without having to call Chase reconsideration line to move credits around. 

    There's no a quick Yes or No answer to this question. The amount of total credit that Chase extends to you varies from person to person based mainly on each individual's overall income. In the end, it comes down to whether you want to go through Chase reconsideration line to shift credits around or you want to be instantly approved after you submit a new application. 

    Lowering credit limit with Chase is not that difficult. You simply contact Chase to do that and you can request it whenever you want. On the other hand, if you want a higher credit line later on after lowering it, it may or may not be difficult down the road to request an increase with Chase afterwards. But again, it all depends on your overall total income. 
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