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Wells Fargo CLI with high utilization

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Education44
Contributor

Wells Fargo CLI with high utilization

I just requested a CLI from Wells Fargo -- I went from $8,000 to $20,000. The underwriter didn't even flinch at my request to be upped to $20,000. My scores are in the high 600's and no baddies. My overall utilization is at 48% and the utilization on my Wells Fargo account is at 95%! The utilization on my Quicksilver is pretty high too. My initial credit line was $8,000 and I never requested or received an auto increase before today.



Starting Score: 532
Current Score: EQ08 702, TU08 710, EX08 701Goal Score: 760

NASA, $30,000/ Wells Fargo $20,000 / Venture $7,500 / JCP $6,000 / Ch Freedom $5,000 / Ch Sapphire $5,000 / Discover $5,000 / Walmart $4,500 / VS $2,150 / AMEX BCE $2,000/ Chase SW $2,000 / Merrick $1,900 / Credit One $1,450 Take the myFICO Fitness Challenge
Message 1 of 18
17 REPLIES 17
b_diddy
Established Contributor

Re: Wells Fargo CLI with high utilization

Excellent. Congrats on the increase!  That should help your UTIL portion of your FICO score, if you don't run it back up to the limit. :-)

FICO Scores: EX 733 (1/17/15) EQ 761 (1/17/15) TU 750 (1/17/15)
     
      
Message 2 of 18
Education44
Contributor

Re: Wells Fargo CLI with high utilization

I'm putting it in the sock drawer right away!!

 



Starting Score: 532
Current Score: EQ08 702, TU08 710, EX08 701Goal Score: 760

NASA, $30,000/ Wells Fargo $20,000 / Venture $7,500 / JCP $6,000 / Ch Freedom $5,000 / Ch Sapphire $5,000 / Discover $5,000 / Walmart $4,500 / VS $2,150 / AMEX BCE $2,000/ Chase SW $2,000 / Merrick $1,900 / Credit One $1,450 Take the myFICO Fitness Challenge
Message 3 of 18
uswala
Senior Contributor

Re: Wells Fargo CLI with high utilization

Congrats on the CLI!

Message 4 of 18
Anonymous
Not applicable

Re: Wells Fargo CLI with high utilization

Holy smokes that's  amazing ! I might want  a Wells Fargo account too hahahah 

Message 5 of 18
brewcrew87
Regular Contributor

Re: Wells Fargo CLI with high utilization

Very nice!  I have been thinking about giving them a call to see if they can increase my limit.

 

I have had the card with them since 2006 - started at $500 (was in college) and over the years I have had auto CLIs up to my current limit of $5,500.  The whole time though, I have been in the hole with my overall UTL averaging around 90-95% (ouch!).  Thankfully, I am finally getting ahead and in the last 6 months I have paid off a ton to get my overall UTL to 60% (yes still high, but I was REALLY in debt - lots of stupid choices in college and every credit card company wanted a piece of the pie Smiley Very Happy - they just kept offering me more and more credit, ha!)

 

Anyway, thinking about trying to get another increase by actually calling, but I will wait for my balance transfer to process (transfering the last $2,000 on this card to my new Discover IT with 0% for 14 months).  I haven't charged a dime in the last 6 months except for cards that I PIF to earn rewards.  It would be nice to start doing the same with this card now that it earns 1% cash back.

 

But congrats!  Hopefully I will have some more good news from Wells Fargo within the next week or so.

Main Cards: CSR(30k), DiscoverIT(50k), Freedom(10.5k), Ink+(17k), SallieMae(17.5k), 3x BoA MLB(24k), 2x BoA BBR(16k) and probably too many other cards at this point...
Current Score:
EQ: ??? TU: 799 EX: 784 - Last Updated 2-2-17 - Last CC App 11/25/16
Message 6 of 18
Education44
Contributor

Re: Wells Fargo CLI with high utilization

Wells Fargo dosen't have a great reward program, but it's not too bad.



Starting Score: 532
Current Score: EQ08 702, TU08 710, EX08 701Goal Score: 760

NASA, $30,000/ Wells Fargo $20,000 / Venture $7,500 / JCP $6,000 / Ch Freedom $5,000 / Ch Sapphire $5,000 / Discover $5,000 / Walmart $4,500 / VS $2,150 / AMEX BCE $2,000/ Chase SW $2,000 / Merrick $1,900 / Credit One $1,450 Take the myFICO Fitness Challenge
Message 7 of 18
Education44
Contributor

Re: Wells Fargo CLI with high utilization

I've had my card for 20 months. It was a HP, but worth it.



Starting Score: 532
Current Score: EQ08 702, TU08 710, EX08 701Goal Score: 760

NASA, $30,000/ Wells Fargo $20,000 / Venture $7,500 / JCP $6,000 / Ch Freedom $5,000 / Ch Sapphire $5,000 / Discover $5,000 / Walmart $4,500 / VS $2,150 / AMEX BCE $2,000/ Chase SW $2,000 / Merrick $1,900 / Credit One $1,450 Take the myFICO Fitness Challenge
Message 8 of 18
Anonymous
Not applicable

Re: Wells Fargo CLI with high utilization


@Education44 wrote:

I just requested a CLI from Wells Fargo -- I went from $8,000 to $20,000. The underwriter didn't even flinch at my request to be upped to $20,000. My scores are in the high 600's and no baddies. My overall utilization is at 48% and the utilization on my Wells Fargo account is at 95%! The utilization on my Quicksilver is pretty high too. My initial credit line was $8,000 and I never requested or received an auto increase before today.


Wow that's a fantastic jump, congrats on your CLI Smiley Happy

Message 9 of 18
chalupaman
Super Contributor

Re: Wells Fargo CLI with high utilization

Wow! I hope to get that kind of luv from Wells Fargo in a few months. They've really loosened up with me as of lately. I went from having a $700 limit college card from them to closing it to getting denied the Propel and getting the Propel a few weeks ago. 

 

Congrats! Smiley Happy

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
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