How I got Denied for a Credit Limit Increase by Chase | live call

so what happens when you're rejected for a queer line increase although everything is going forward you might have a high income you might be paying your bills on time but you still got rejected based on the algorithm when it comes to the entire like chase discover whatever bank you actually have now in this video actually called chase today and I applied for a credit increase for my tastes unlimited freedom card okay I applied for this one because this card only has a limit of around three thousand three hundred dollars and although I make a ton without a ton of money moving around like seventeen to $8,000 in a month this still said no and this vide I'm gonna break down exactly why that happened how to make sure you don't get rejected and entire process to always make sure you always get accepted okay because I applied for discover around four days ago they said yes give me $1000 and that's good and a limit of around like 8,000 my utmost 7,000 my other course I'd like 10,000 10,000 so this one it's still stuck at 3300 and I'm gonna break down exactly why that is and if you guys don't know me my name is ty Bryson I'm an accountant I upload videos on YouTube every single day stretch the channel hit the dust you get notified on top do me a favor and smash like button really appreciate it and comment down below and let me know guys have you guys ever been rejected by a credit card have you ever rejected for a credit line increase and the answer is for me I've been rejected several times and that's why I know so many little tricks and hacks to make sure you get accepted and what to do best here and there and that's why I make these videos not just for like the yes-yes-yes but also for the nose and how to get around that and to make sure you guys don't make the mistakes I make now before I tell it exactly what happened how I got rejected I want to make sure you guys understand one thing here okay there are a lot of ways to manage your credit either if it's for optimization of credit we want to have a high score or you want to do turning or you just want capital there are very different ways that affect your credit score and your chances by a big big margins for example guys if I wanted a very big very high credit score what I would do is keep my utilization rate very low pay my payments on time make sure I'm borrowing paint out on time also making sure I don't have any disputes none of that stuff and everything is fine you know now I have all that stuff except one factor okay I keep my realization rate usually a higher than most because you know so many times most of time I run low on cash I take that cash I invested somewhere else and I don't pay any interest because I always do cars on promotions okay now that's the main problem here okay now if I wanted to do credit card turning my credit score would have to be like erotica a little bit above 700 so that I can apply for credit cards get the bonus get the money going free flights do whatever I want and that's about it okay but credit card training hurts your credit score using a credit card for capital Hershey credit score also if you want to do like perfect credit course stuff I don't recommend you do either one of these things but I'm not really interested in a perfect 850 I'm more interested in having extra money and also have them bonuses okay so that's why my entire application was more rejected now here's what happened guys play-by-play when I call them chase today I called in with my arm with my phone and you know everybody uses the phone these it I called and I said hey my credit line is a little small and I was wondering like what we can do about that because I noticed that you know like my other like chase card like $10,000 and a mother card like $10,000 also and this one here have like 3000 like I think like $300 and I was calling into acts like exactly like if we can like raise that or what we can do about it I love the entire like on 1.5 percent on this card however I can't really take advantage of it because the credit line is like so small you know now she said yeah I understand that and basically the first person I call didn't really know a lot about the entire process because again she just following an algorithm an application that says yes or no and he doesn't know what to do and can't really do much once the applications be rejected so here's what happened I called in and he said okay I'll check I'll try how much money do you make I said blank how much money do you spend I said blank how much money do you have I said playing okay once he asked me those questions she said well I'm sorry sir we weren't able to go through I said okay no problem is there any way to confirm like the reason I was declined all right that happens sometimes happened to me before and I still got accepted by doing one thing I asked to have my application reconsider by going into the application team and talking to them and having a conversation where I explained my situation and that way is much better by the way whenever you do apply for quite an increase it does give me like a hard day because to do a hard pulling your credit score and check out everything so always consider that again we do credit card turning and you want money from your credit cards that will always hurt your credit score so that is the risk of doing these things okay there is risk with everything and not everything is always okay yes yes yes it's perfect some things things don't go as well as you planned them so here's what happened she connected me to the entire like I'm application network with extra visa application I said okay what's going on with applications don't hate on me there's four reasons why your application either not okay here we go the first one is the length of your card well you were fly quranic eight to nine months is too short you can't apply for anything I said like hey I've had my account would taste for around like four years on top of that you can see all the money I'm making through my account so [Music] let's slow down here okay this what I said literally okay I'm gonna call back with you guys as they talk so can explain everything and you said hey Tommy you know your chase business account has nine thousand dollars in the credit card and your line is ten thousand dollars and that's why that's the problem from a bad perspective it looks like you have you spending way too much money versus the money as she have and I said hey I get that I understand that I try to like help her out and I squeeze her into it but it didn't really work and here's why you know I said hey you know I make ten thousand dollars on one side with my business on YouTube and my side business with my entirely checking accounts I make an extra like seven to eight thousand dollars so together that's eighteen thousand dollars if you can see my credit score I have around eight twelve thousand seven hundred twenty dollars in credit card does so isn't a big deal I can paid off in one month if I wanted to that's the entire purpose of it he said yeah but you know she couldn't go beyond the entire like what she saw there and she only saw the policies the utilization rate and that was about it so the problem here was that guys because my credit score I mean my credit balances were so high she couldn't go beyond that even as I explained to her I literally explained to her over and over and over again if you are a business major if you're anything about business out there or you like an intrapreneur you watch this video right here I'm pretty sure you'll get it you know if a person say for example right and a person tells you hey I want to borrow a thousand dollars and they literally make every single month for the past maybe like four to five years and say like hey for the past four years I've been making ten dollars a week it's like I need a thousand dollars you but hey no no way I'm gonna let you that money however if that same person comes back to you like hey you know I've been making ten thousand dollars a month for the past like four years or so can I get a thousand dollars as a credit limit you probably said like yeah no problem because you've been with this credit score I mean it was his income for four years so there's a very simple way to you pay back very easily however because the policies are so strict when it comes to chase specifically they said no didn't really care about it however would discover I'm Barclaycard I notice someone asked for discovered they gave me a thousand dollars and I was gonna ask for a Berkeley car that she gave me an extra five thousand and made my entire wall at least seven thousand I made my score I mean my limit from a three thousand all the way up to ten thousand dollars so that's the main issue so if I wanted to guys okay that was a problem right there now Tommy how do you get accepted you know because you know part for it every 30 days so what do you do here now okay well the answer is if I wanted to get accepted okay what I would have to do is this I would have to pay my balance for my taste card in full I might bounce my business card in full also now what does this mean is that worth it the answer is no it wouldn't be because he's a problem guys I have a balance right of 3,300 dollars on my taste card right and so far I paid 560 tor is it - an extra like 740 so right now I only all around $2,000 in that card however on my other chased business card I or another $9,000 so its total is $11,000 however my check-ins plus my business check-ins has around an average of around $20,000 so in reality my debt if I paid all my debt right now I would only have around never dollars left however guys that would cost me a ton of money because I can use that money I made between 8 20 to 30% by investing that money into businesses or buying a business and make an income from that money and that makes me more money so the concept is this do I get a credit increase from maybe 3,000 to 5,000 does that make sense the answer is no it doesn't make any sense because I can usually use this $20,000 half right now right and invest it maybe make 20% back you know times 1.20 and make an extra four thousand dollars in income in one year divided by 12 4000 divided by 12 that's an extra 300 bucks like this you know and if I'm making this money I can use that money to pay off my credit card so the concept of this guys if you want to do what I do okay what I do is this okay I grab my credit cards credit cards like these I maxed them out I grabbed the money I invested make more money over and over again use the income that I made from this card to pay off this card like this because the gang guys look at this okay this is the problem with me at least okay this is why I'm winning okay this is why the banks were you like me that much by the way if I borrow $3,000 from this card that's my limit here I maxed it out the first time I got it no question about it okay if I borrowed this amount of money and they gave me they said Tommy we're gonna give you fifteen months to pay back this card interest-free fifteen months divided by 15 my payments would be around two hundred and twenty dollars a month boom I'm done with it okay simple enough but if I invested this three thousand three dollars and I made an average of maybe they 20-30 percent well that means that every single year I would make around six hundred and sixty dollars that's on the low end and the high end this money by the way usually what I do with money to make more money is I buy phones I flip them I also invest money into businesses and that makes me money also by doing capital injections I do that all the time and that makes me a lot of money that's why I say like for example I had a phone here not too long ago I have here okay this is an iPhone arm this is a new iPhone 11 and as you guys can tell right here I have the iPhone 10 but it's like the iPhone 11 the new one right here however I don't really buy new phones often but I bought this phone and I'm gonna figure our profit by just selling it so I already sold it got the money already however you know usually I would buy a knife like this okay an iPhone x4 like I'm 400 200 hours and I was soft like 550 and instantly I bought it for you know if I sold it for 550 no you should I said like 600 to be honest so then for $600 and I bought it for five like three $400 $400 divided by 600 that means I just made a 66% um profit so that's why my market what the money I make from money is so high because I make so much money by selling things over and over again so for example if I got the other dollars in a credit line from a credit card and they gave me like 15 months to pay it off at 2:20 every single month and this money can literally make me run like sixty percent in one in one year which is like maybe I'm lying okay I could make like probably double the money so for example if I made I double this money an extra three thousand thirty dollars I can pay back their money in one year divided by twelve I can pay them back $275 like this every single month because again every time I buy a phone for like four dollars I flip it for like 150 all right do one phone a week 150 times four that's already $600 okay 600 hours times 12 that's around seven thousand two hundred dollars every single year you - what I owe them which is around like um what is it like that's my okay so I still make three in $900 so that's why if you ask me Tommy do you want a good credit score or do you want to make more money the answer is I want them both okay my credit score isn't bad whatsoever but what I do want most of all right now is to have more money to do bigger deals over and over and over again okay so if for example if I can get a sublease in a business and then use that sublease which is like a little difficult when we explain that much I make a little bit about it later on but if I do that and I make money from that like I run a fifty percent of my money maybe they doubled my money in one year or I just like pay off the credit card in full the answer is gonna cost me a lot of money so I ten times rather you know have a low credit card like score for now and then boost it up later on because by the end of six months and six months I'll be paying off on my credit card debt because again I'm gonna have around like a hundred and eighty doesn't know whether they saved up when I got a real estate deal once I do that okay then I X not like oh my credit card debt and once I do that my credit scores in a boost up by like 80 points ninety points I did the estimates and once I do that I'm good to go I'm back in the zone however what I don't do is I don't miss any payments I don't borrow money I can't pay back and on top of that I make sure that whatever money I can I borrow I have at least twice that money on the side for example I owe on this card three thousand dollars and I got rejected for a credit increase however look at this this is the equivalent of around like ten thousand dollars okay so whatever money I borrow I can easily pay back however when it comes to banks they don't really care about how much money you have how much money you make none of this stuff matters doesn't matter a cell phone today and I stuff like $3,000 tomorrow they don't care about that they care about one thing they care about i ke Tommy where Y is your credit score's Ohio we can't see beyond that so the problem is you know whenever you're applying for a credit card keep in mind that they will only look at the superficial stuff they only look at your score and on top I look at what you all because again my score is higher so that's not the problem the problem is that the utilization rate is so high and you know when it comes to banks they get super scared about it it doesn't matter if we have like twenty thousand dollars in the bank they don't care about they care but I K bro you owe a lot of money now what are we gonna do so I guarantee you I'll apply again for this card probably like next month or in January and I guarantee you listen to this guys subscribe your channel right now and comment down below and make an objection okay I guarantee you when I'm playing January they will accept my application by January this car will be paid off in full because that's what I accepted to do okay I wanted to get 15 months I got 15 months now paid off in full I'll do it again over and over again that's what I do okay so by January I'll ask for another one they'll say yes and in six months this car right here will probably be in a limit of around like 10 - like $12,000 very easily because again all the other cars will be paid off also and the bathroom like okay look there's Tommy you do so great however I always had all the money to pay you guys off however I rather buy flip phones investing businesses and make more like that then pay you guys off and then you guys win but I don't win so the consequence is you have to understand if you want a high score don't do what I do if you want money do what I do however if you want to do credit card churning don't you're gonna it's gonna mess up your credit score but if you want a high credit score you know you want to make sure you're paying off your balance in full you want to make sure you're paying on time I'm paying on time also you wanna make sure you keep your decision rate very low maybe like around like 10% lower than that a little bit lower like a Romanek maybe like nine maybe twelve percent max and that's how it works okay comment down below and let me know guys you think I should call back in January and reapply for this card should i cancel it or should I keep it trick question never cancel the card without an annual fee okay just keep it open doesn't matter however will I be using it often the answer is probably no I won't be now guys as always if you enjoyed this video like the video really appreciates or generally the buzz to get notified and if you want to talk to me one on one oona woman is DME and this unitary bracing and on top like who want watching video for example how I get accepted to the Discover Card and why could this video right here because they gave me $1,000 extra I'm sure you guys exactly by the way I called them and I asked for it laughs tricks video right here and also if you want anything right now hit my face right here to scribe channel right now so you guys tomorrow thanks for watching and as always peace

Channel: TommyBryson

Views: 13,487

Rating: 4.5867448 out of 5

Keywords: tommybryson, How I got Denied for a Credit Limit Increase by Chase | live call, credit card, credit score, credit, credit cards, credit limit increase, ask sebby, credit limit, chase freedom, denied for credit card, credit line, how to, credit card limit, asksebby, how to increase your credit card limit, chase sapphire reserve, chase 5/24, increase credit score, how to increase your credit limit, hard inquiry credit, fico, denied, credit card denial, credit cards 101, credit 101

Id: I0QHCCxd3Is

Length: 17min 37sec (1057 seconds)

Published: Thu Nov 14 2019