Anyone Refuses to Take a HP for a CLI?

[Changingmantra]

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@09Lexie wrote:
For my barely used cc's that are circling the bowl, no. Why ask for a HP on a CL you have no intention of using. The cards most heavily used -yes.

Interesting we all enjoy the 3x CLI on Amex as a SP; would we be as happy if they changed their policy to HPs?

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Wow - I had seen those threads - but as AMEX will have no part of me -  I did not read through them much.  I had no idea these were SPs -  Has this been standard practice at AMEX for a while - and does it matter which cad you have?  I would think that for a chance at 3x CLI - many would still go for it.  

I have not had two of my cards long enough to know what the CLI pattern is -  Barclays is pretty regular - every 6-8 months auto CLI.  Discover - always approved - but always a HP; one for $1500 and one for $2000.  

[09Lexie]

@Changingmantra

The CLI's policy for Amex has been SP's for as long as I can remember. It's available on all revolvers.

[FutureBillionaire]

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@CreditScholar wrote:

I have no issues with taking a HP for a CLI.

If it's customer-initiated, it should be a HP. Auto-CLIs can be SP since you weren't the one who asked for it.

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If it's been 6 months or more since my last CLI and I have been effectively managing credit, I think I shouldn't have to settle for an HP.  Discover gave me a SP increase after repeatedly trying to get me to do a HP.  An HP makes sense if I have a sizeable limit relative to my income or if I have mismanaged my credit from that issuer. 

[enharu]

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@FutureBillionaire wrote:

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@CreditScholar wrote:

I have no issues with taking a HP for a CLI.

If it's customer-initiated, it should be a HP. Auto-CLIs can be SP since you weren't the one who asked for it.

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If it's been 6 months or more since my last CLI and I have been effectively managing credit, I think I shouldn't have to settle for an HP.  Discover gave me a SP increase after repeatedly trying to get me to do a HP.  An HP makes sense if I have a sizeable limit relative to my income or if I have mismanaged my credit from that issuer. 

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It's really a matter of whether you really need that CLI.

If you want a CLI just for padding or trophy purposes, taking a HP for it wouldn't make any sense. 

Lenders do perodically review accounts and issue out auto CLIs over time. If you don't have an issue waiting for it to happen, that's perfectly fine too. Same thing for pre-approving customers for CLI via SP. 

Customers are not entitled to a CLI just because they have been effectively managing credit. Effectively managing your own credit is something you are already supposed to do. Banks will just simply close / CLD the accounts if they think you're not managing credit well. In a way it's like paying taxes. You're supposed to pay your taxes on time. You are not going to get any extra rewards for paying your taxes on time, but you are supposed to. Otherwise, there's penalties involved.

[kmkotas]

Heck no!! I'm super stingy with my hard inquiries, especially since I'm trying to qualify for a mortgage..

[indiolatino61]

My Discover it card is 8 months old now, and when I tried for a CLI after 6 months, they wanted a HP. I said no thanks. My CL is only $1,700. Even so, I will not take a HP hit for a CLI. I run about 2K-3K monthly. Hopefully they will auto CLI me soon. If not, I will probably use the card less.

[FinStar]

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@enharu wrote:

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@FutureBillionaire wrote:

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@CreditScholar wrote:

I have no issues with taking a HP for a CLI.

If it's customer-initiated, it should be a HP. Auto-CLIs can be SP since you weren't the one who asked for it.

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If it's been 6 months or more since my last CLI and I have been effectively managing credit, I think I shouldn't have to settle for an HP.  Discover gave me a SP increase after repeatedly trying to get me to do a HP.  An HP makes sense if I have a sizeable limit relative to my income or if I have mismanaged my credit from that issuer. 

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It's really a matter of whether you really need that CLI.

If you want a CLI just for padding or trophy purposes, taking a HP for it wouldn't make any sense. 

Lenders do perodically review accounts and issue out auto CLIs over time. If you don't have an issue waiting for it to happen, that's perfectly fine too. Same thing for pre-approving customers for CLI via SP. 

Customers are not entitled to a CLI just because they have been effectively managing credit. Effectively managing your own credit is something you are already supposed to do. Banks will just simply close / CLD the accounts if they think you're not managing credit well. In a way it's like paying taxes. You're supposed to pay your taxes on time. You are not going to get any extra rewards for paying your taxes on time, but you are supposed to. Otherwise, there's penalties involved.

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+1