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Established Contributor
Posts: 803
Registered: ‎06-02-2016

Re: Alliant CLI request leads to CLD instead


SouthJamaica wrote:

Appleman wrote:

They didn't just forget a zero?

 

Have you received the reasons yet? Too much available credit? Too many inquiries?

 

Sorry to hear they gave you a decrease.


Yeah that would be nice, if they really meant $150,000 rather than $15,000.

 

No haven't received reasons yet; it's undoubtedly stuff like that.

 

But that isn't the point. They should either grant my CLI request or deny it, but not use it as a basis for a CLD.

 

This really leaves a sour taste in my mouth about doing business with them.


That is really weired. So sorry this happened. This makes one scared to even request a CLI if there's a possibility that it would result in a CLD. I'm with you 100%--just decline the increase. I really don't understand Alliant's reason. If I were you, I would call them and see what's up. 


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Super Contributor
Posts: 13,576
Registered: ‎01-04-2014

Re: Alliant CLI request leads to CLD instead

Thanks for sharing the sour grapes on that SJ.

 

It's useful info for others not to poke the bear as they say.

 

I read in certain posts from others here & there that CU's are more for being conservative when compared to mainstream big banks.

 

Also it might depend on a different FICO they use? I remember NASA used to be like that but instead of lowering they would outright close accounts. I eventually closed my own NASA accounts and moved on because of such unpredictability.

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Established Contributor
Posts: 776
Registered: ‎03-18-2009

Re: Alliant CLI request leads to CLD instead

[ Edited ]

lol alliant cc are a joke i know them realy good., soon most off ppl will agree with me.they don't have the backbone for cc period. not going details now, checking ,savings are great but not cc.

Established Contributor
Posts: 780
Registered: ‎01-15-2017

Re: Alliant CLI request leads to CLD instead

Ouch, Sorry SJ.  Time to look for a new better card. 

Senior Contributor
Posts: 6,424
Registered: ‎04-11-2016

Re: Alliant CLI request leads to CLD instead

SJ, very important question here that I don't believe anyone has posed yet:  What was your monthly spend on this card?

 

If you were using it quite a bit, I do agree that imposing a CLD was a grimy move.  If you weren't using it much at all though, your CLI request may have been a classic case of poking the sleeping bear and they felt that you weren't using enough of your current existing credit limit. 

Established Contributor
Posts: 729
Registered: ‎01-16-2017

Re: Alliant CLI request leads to CLD instead


BrutalBodyShots wrote:

SJ, very important question here that I don't believe anyone has posed yet:  What was your monthly spend on this card?

 

If you were using it quite a bit, I do agree that imposing a CLD was a grimy move.  If you weren't using it much at all though, your CLI request may have been a classic case of poking the sleeping bear and they felt that you weren't using enough of your current existing credit limit. 


More likely they saw 415k in credit lines and they thought overall credit lines were too high. 

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Senior Contributor
Posts: 6,424
Registered: ‎04-11-2016

Re: Alliant CLI request leads to CLD instead


frogman1 wrote:


More likely they saw 415k in credit lines and they thought overall credit lines were too high. 


Could be, but a healthy spend would negate that in terms of lender profitability.  If SJ is putting several thousand dollars through the card per cycle, some months maybe even $5k-$10k (I have no clue what his income/total CC spend is capable of) it would make very little sense for the creditor to drop his limit to a number that in theory he could possibly hit in 1-3 cycles.  If his spend is relatively low, yes I would agree more with your statement above regarding his total limits.

Super Contributor
Posts: 6,189
Registered: ‎02-24-2015

Re: Alliant CLI request leads to CLD instead

[ Edited ]

BrutalBodyShots wrote:

SJ, very important question here that I don't believe anyone has posed yet:  What was your monthly spend on this card?

 

If you were using it quite a bit, I do agree that imposing a CLD was a grimy move.  If you weren't using it much at all though, your CLI request may have been a classic case of poking the sleeping bear and they felt that you weren't using enough of your current existing credit limit. 


I use it for balance transfers rather than spend. It's a no-rewards card.


FICO8 EQ 736 TU 761 EX 741 FICO5 EQ 720 Total revolving 422500
Super Contributor
Posts: 6,189
Registered: ‎02-24-2015

Re: Alliant CLI request leads to CLD instead

[ Edited ]

BrutalBodyShots wrote:

SJ, very important question here that I don't believe anyone has posed yet:  What was your monthly spend on this card?

 

If you were using it quite a bit, I do agree that imposing a CLD was a grimy move.  If you weren't using it much at all though, your CLI request may have been a classic case of poking the sleeping bear and they felt that you weren't using enough of your current existing credit limit. 


It might be an important question but it's not germane to the point I"m trying to make.

 

The issue is not whether or not Alliant should have given me a CLI; it would not have been newsworthy for me to report that I got turned down for a CLI. It happens to me and to others all the time.

 

To me what's newsworthy is that Alliant CU used my credit limit increase as a basis for decreasing my credit limit.  I have not only never experienced that before, I have never even heard of that happening to anyone else before. I certainly would never apply for a credit limit increase with a lender who uses that as an opportunity to take a hard pull and then cut my credit line by 40%.

 

 


FICO8 EQ 736 TU 761 EX 741 FICO5 EQ 720 Total revolving 422500
Senior Contributor
Posts: 6,978
Registered: ‎06-22-2015

Re: Alliant CLI request leads to CLD instead

[ Edited ]

SouthJamaica wrote:

BrutalBodyShots wrote:

SJ, very important question here that I don't believe anyone has posed yet:  What was your monthly spend on this card?

 

If you were using it quite a bit, I do agree that imposing a CLD was a grimy move.  If you weren't using it much at all though, your CLI request may have been a classic case of poking the sleeping bear and they felt that you weren't using enough of your current existing credit limit. 


It might be an important question but it's not germane to the point I"m trying to make.

 

The issue is not whether or not Alliant should have given me a CLI; it would not have been newsworthy for me to report that I got turned down for a CLI. It happens to me and to others all the time.

 

To me what's newsworthy is that Alliant CU used my credit limit increase as a basis for decreasing my credit limit.  I have not only never experienced that before, I have never even heard of that happening to anyone else before. I certainly would never apply for a credit limit increase with a lender who uses that as an opportunity to take a hard pull and then cut my credit line by 40%.

 

 


 

 

Agree with SJ here. Sorry this happened, SJ. I would have been shocked too.  I remember well that you had an initial high SL with Alliant and your progession on this card has been solid.

 

Since credit unions are generally more conservative, and consumer debt is at an all time high, combined with us seeing banks take actions we had not seen as much in the past (i.e., Capital One), this overall may be something to watch.

 

I myself am not thrilled at how conservative most credit unions are (except for Navy Federal, who is quite generous), and it may be something to keep an eye on. Conservative credit unions might well take a look at a member with large overall credit exposure plus a number of new accounts/ inquiries and become concerned, taking actions such as the one SJ is reporting.

 

myfico members have reported that Alliant has made comments indicating they are conservative or that Alliant has concerns about many new accounts and inquiries, and large amounts of overall available credit.

 

No loyal customer, however, should reasonably expect that a request for a CLI will result in a very large CLD when their profile and history is solid, especially with a credit union. SJ has an 812 FICO, a solid history for years with this credit union as well as a solid overall credit history, and low overall utilization.

 

Credit unions claim that we are "members" , "part of the organization", and that they treat members better than banks do.  Many myfico members have felt that credit unions (except for NASA) were much less likely to CLD than were banks.

 

Now, it opens the playing field to all sorts of uncertainties. Just something to watch and see. 



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