Funk-O-Meter wrote:I've been rebuilding for a few years now and gardening (mostly) for about 5 months now and hadn't really been keeping up with reading and research and what not lately. So I hadn't realized that after 61 days from activation I could/should do the online CLI request. So I read.... I think... I apply for 3X from 2k to 6k...hit the button... BAM! 6K credit limit! I nearly fell off my chair!
My total utilization was 37% (three cards, no loans) and my Amex utilization was about 25%. I've been using it for some bills and stuff and I did get it up over 50% at least once I remember.
I'm looking for a $10k or so auto loan in several months and so I want to get my accounts utilizations down and let them simmer and report. This more than doubles my total available credit and my overal utilizatoin dives to 16% and it was just a soft pull.
Thanks AMEX! And thanks to these forums! Although I'd like a lower rate (22%) I'm more than happy with how I've been treated and they're like miricle grow for my credit.
Question: Since this isn't a newly opened account and there was no hard pull I can't imagine it could have any negative effect on my report at all. Am I right?
Congrats! That is great. I am looking to do the same thing. My 60 days are up in two more weeks.
flowfaster wrote:Congrats. You are right about Amex being miracle grow for credit. As soon as I got my $6000 BCP, Discover, Bank of America and GECRB followed suit. BoA and Discover raised to 6K. GECRB then gave me insane limits on my Amazon and wally cards. All in 1-2 months since getting the Amex revolver. Higher limits 100% beget higher limits.
Now I just have to work on Chase...
Hopefully my limit spikes to $6000 just like the OP next month when my 61 days comes up. I would like for my credit limits to grow as well. Did you call and request the CLI's to match/exceed the AMEX limit or did they offer them up on their own?
flowfaster wrote:
mistabgeez wrote:
flowfaster wrote:Congrats. You are right about Amex being miracle grow for credit. As soon as I got my $6000 BCP, Discover, Bank of America and GECRB followed suit. BoA and Discover raised to 6K. GECRB then gave me insane limits on my Amazon and wally cards. All in 1-2 months since getting the Amex revolver. Higher limits 100% beget higher limits.
Now I just have to work on Chase...
Hopefully my limit spikes to $6000 just like the OP next month when my 61 days comes up. I would like for my credit limits to grow as well. Did you call and request the CLI's to match/exceed the AMEX limit or did they offer them up on their own?
I of course could not help but to request them. BoA was a hard but worth it. She said she would match my Amex since it's so new she couldn't go any higher for now. Said my CR looked fine though. Discover was a soft....Yes, a soft. I used the automated phone system on my lunch break and it from 2-6K. Then the most impressive was GECRB, I got to 5K and & 7.5K with a soft pull.
That is fantastic. I received my AMEX and Discover about a week apart. It may be too soon for me to ask for an increase on Discover. How long did you have those other accounts open? My Freedom has been open the longest, and is definitely the one I am most interested in having match the AMEX increase. I want to have an idea of how long I should wait before asking for any credit limit increases. Thanks.
flowfaster wrote:
mistabgeez wrote:
flowfaster wrote:
mistabgeez wrote:
flowfaster wrote:Congrats. You are right about Amex being miracle grow for credit. As soon as I got my $6000 BCP, Discover, Bank of America and GECRB followed suit. BoA and Discover raised to 6K. GECRB then gave me insane limits on my Amazon and wally cards. All in 1-2 months since getting the Amex revolver. Higher limits 100% beget higher limits.
Now I just have to work on Chase...
Hopefully my limit spikes to $6000 just like the OP next month when my 61 days comes up. I would like for my credit limits to grow as well. Did you call and request the CLI's to match/exceed the AMEX limit or did they offer them up on their own?
I of course could not help but to request them. BoA was a hard but worth it. She said she would match my Amex since it's so new she couldn't go any higher for now. Said my CR looked fine though. Discover was a soft....Yes, a soft. I used the automated phone system on my lunch break and it from 2-6K. Then the most impressive was GECRB, I got to 5K and & 7.5K with a soft pull.
That is fantastic. I received my AMEX and Discover about a week apart. It may be too soon for me to ask for an increase on Discover. How long did you have those other accounts open? My Freedom has been open the longest, and is definitely the one I am most interested in having match the AMEX increase. I want to have an idea of how long I should wait before asking for any credit limit increases. Thanks.
Thanks. My BCP has been open 4 months. My Discover has been open 1.1 years. Discover is 100% no cli (W/O a hard inq AFAIK) before 6 months. Got my first CLI at 6 months for $500 and my next at exactly 1 year for 4K. Chase will just have to wait until I can afford a hard inq on EX, Maybe next year some time lol. My walmart FICO is 765 if that helps.
Helps plenty. Hopefully I get this increase next month. My intention was to wait until the end of the year to ask Chase for an increase to match. Looks like I will be sticking to that plan. I will be gardening until around the 'holiday' season. My current utilization is 15%, and the expected increase will lower it to 10%, more like 5% by the end of the year. Maybe they will be very generous in their CLI.
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