Should I request a Citi DC CLI?

[Anonymous]

I applied and was approved for a Double Cash in early August.  I was instantly approved for $7,000.

I am considering possibly requested a CLI to help my credit down the road.

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CREDIT STATS

 currently have a 6% UTI with a total $40,900 on card limits (also I am a 21 year old college student)

• 54% on Chase Freedom ($1400)
• 10% on Citi Double Cash ($7000)
• 8% on Fidelity AMEX ($12000)
• 0% on Hilton AMEX ($6000)
• 0% on Discover it ($14500)

100% Payment History

0 Derogatory Marks 

AAOA: 7 years, 7 months

• Chase Freedom is 10 months old
• Citi Double Cash is 2 months old
• Fidelity AMEX is 6 years, 6 months old
• Hilton AMEX is 9 months old
• Discover it is 29 Years, 7 Months old

1 HP on TU

3 HP ON EQ

5 HP ON EX

TU FAKO 787

EQ FAKO 775

EX FAKO 775

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What do you all think?  Take another HP or wait until a few of my EX HP's fall off?

[ddemari]

If your income supports it and you really want it, I think you are probably good with those scores. 

[Creditaddict]

1. I think around 3-4 months you will probably have a SP CLI check option... when you log in now and go to request a credit limit increase does it say "it's easy to see if you qualify for a credit line increase and no credit pull is needed" or "by clicking below you know Citi may pull your credit"

If you don't need more, I might just wait until you get the SP option... otherwise if you go the manual review option, I would ask for $25k and let them counter if they don't approve full amount.

[Anonymous]

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Creditaddict wrote:

1. I think around 3-4 months you will probably have a SP CLI check option... when you log in now and go to request a credit limit increase does it say "it's easy to see if you qualify for a credit line increase and no credit pull is needed" or "by clicking below you know Citi may pull your credit"

If you don't need more, I might just wait until you get the SP option... otherwise if you go the manual review option, I would ask for $25k and let them counter if they don't approve full amount.

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It says, "It's easy to find out if you qualify for a credit limit increase. By clicking "Continue" you understand that we will obtain a credit bureau report to evaluate your request. Our credit department will review your request within 24 hours."

[Anonymous]

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@ddemari wrote:

If your income supports it and you really want it, I think you are probably good with those scores. 

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I would like it but I do not need it.  My income does support it

[Creditaddict]

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@Anonymous wrote:

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@Creditaddict wrote:

1. I think around 3-4 months you will probably have a SP CLI check option... when you log in now and go to request a credit limit increase does it say "it's easy to see if you qualify for a credit line increase and no credit pull is needed" or "by clicking below you know Citi may pull your credit"

If you don't need more, I might just wait until you get the SP option... otherwise if you go the manual review option, I would ask for $25k and let them counter if they don't approve full amount.

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It says, "It's easy to find out if you qualify for a credit limit increase. By clicking "Continue" you understand that we will obtain a credit bureau report to evaluate your request. Our credit department will review your request within 24 hours."

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then I would just keep checking each month after your statement until it says "no credit check"!

[coldnmn]

Personally I would wait for the SP CLI to show up . They are conservative I got it to show up after 3 months. After the CLI it still showed but denied not enough experience with current CL. From everything I have read, ask every 6 months and should be good for $1,500 minimum SP CLI after the first one.  Good Luck!

[Anonymous]

So as it said earlier my current CL is $7000 and my current balance on the card is $1031.56.  The balance will continue to rise until my 15 months of 0% expires.  If one day I look online at it shows the SP CLI how much is it recommended that I request my new CL be?  $10,000?

[OnTheRebound]

With a SP CLI request they do not give you a choice. You get what they offer, usually about $1400.00. If you want more, it will cost you a HP and even then it's not guaranteed you will get what you ask for.

[Anonymous]

I will preface in that there are a ton of variables and unknown risks that makes these types decisions change on a dime.  Based on what you have shared, I would wait for that SP CLI opportunity to arrive.  You may be happy with it, but if you are not then I would request an amount 3x higher than your CL.  This would be a hard pull but you may get a very high CL out of it.