09-10-2012 11:31 AM
Hi All, first time posting here and I have to say so far I've learned a lot from this forum.
Last night I responded online to a pre-selected offer from Citi for a Diamond Preferred card and was instantly approved for a $2,500 CL and I was hoping for more (at least $5,000).
Is there anyway I can give them a call and request a CLI or would it be better to wait a few months?
My credit scores-
09-10-2012 11:41 AM
Congrats! Call for a CLI, you've got the scores.
09-10-2012 11:43 AM
My experience has been that credit card companies have a sort of tiral period. For example with Discover, there is no way without waiting 6 months.
However just call them and asked them.
I haven't tried with my Diamond preffered since I was just approved and havn't gotten my card yet. (That and I did get the 5k I wanted lol)
09-10-2012 12:21 PM
CONGRATS!!! Not sure how they came up with my limit of $4700????? But I love the card. Really cool looking.
09-10-2012 01:24 PM
Hi All, thanks for the fast responses.
I pretty much thought the same thing as firesoul and figured six months was the standard time to wait before requesting a CLI. Is it possible to use my credit scores as leverage to justify a higher CL even though I was only approved last night?
Also are there any posts on this forum that someone could point me to that discusses calling CC companies for CLI'S? I'm looking for some guidelines on how to approach this and want to increase my chances of getting a higher CLI on this new card.
Thank everyone, I appreciate the input.
09-10-2012 01:33 PM
There are no "guidelines" per se.
Last time I reconned a credit limit, I just called in and asked for a higher limit. They didn't ask why and didn't confirm any information. They simply punched some keys and came back with an approval for $5k (after an initial approval of $1k).
That said, I'd recommend having a reason for them. Consider something like, "I'd like to run the majority of my spending through the card to get as many rewards as possible, but I don't want to have high utilization. The current limit won't let me do that." You may also have to verify income.
09-10-2012 03:21 PM
Thank you djrez, I will call them up and tell them extactly what wrote.
For income verification my employer prefers to use "The Work Number" (www.theworknumber.com). Does anybody know if Citi uses this for verification? I tried setting it up but it was a pain and I would would rather use a different method for employment verification.
09-11-2012 07:44 AM
I'd say "gopherit" ! You've got the approval for the card, the worst they can say is no. You still have a new TL and limit.
Citi can be very generous, and with your scores and presumed stellar history, I'd say you've probably got a good chance at an increase.
My Diamond Preferred was approved for $5k initially, I waited 6 months, got it doubled to $10k. I could probably get more, but I don't really need it.
My Home Depot account through Citi is now up to $9.7K, started out at $3K, they just recently bumped me up to that figure.
09-11-2012 11:43 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.