Are HP CLI's worth it?

[Anonymous]

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@longtimelurker wrote:

I agree with all that it depends on your needs and on your report.   If there is a card which you "must" use (say your only 2% card) and the toy limit means you have to pay multiple times a month and worry about reported util etc, then yes, an HP for CLI can certainly be justified.  Providing that the extra HP won't be likely to prevent you getting something else in the near future!

But specifically on Fidelity Amex.   As this card is transferring, I would probably hold off on it, in case Elan allows SP CLIs on it.

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I've got the Fidelity card in the back of my mind...does Elan do something different with SP CLIs than US Bank? Or is it that they do the request-$1500-or-under-and-it's-usually-a-SP thing? 

[takeshi74]

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@trant3 wrote:

OK so I have been on the fence lately on pulling the trigger for a HP CLI on my Fidility Amex & PenFed cashreward, both sitting at $1k from last summer. Believe it or not I have never used a HP for an increase, only for new tradelines, but the $1k limit has been bothering me lately. My credit profile has improved since obtaining the cards so I know I'll at least get "something". Just wanted some thoughts or justification.

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Worth is always highly subjective, regardless of topic.

The impact of and HP's isn't fixed.  Many here are averse to them but you always have to consider your sources.  Many are building or rebuilding and an HP can have a bigger impact for them.  Generally, though, HP's have a small impact and their effects taper and fall off relatively quickly.  An HP is no big deal to me (though I will go for an SP when possible) but I cannot tell you if an HP would be worth it to you.  That's for you to determine.

If your creditors granted you $1K limits then they probably have concerns with your credit.  Make sure those concerns have been addressed.

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@trant3 wrote:

My credit profile has improved since obtaining the cards so I know I'll at least get "something".

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If the improvement was significant enough for PenFed you'd probably have a quarterly offer.

[KSK1912]

Do you think "something" is worth the HP? I just recently had a HP CLI on my MAcy's, because i do like shopping there occasionally, and they give extra discount and such to their card holders. But a $300 limit was just not doing it, so i asked for $2K and was granted. $300 to $2K is a significant difference for me. Also, my credit report can support the HP because they pulled TU and i only had 1 inq on TU. On the other hand i have seen people here that go from $8K to $30K with one HP.

And very interestingly, a hp, depending on your credit report, can actually increase your score too

[Anonymous]

I've only taken one hard pull ever for a CLI. That was to increase my Freedom over 5k to convert to my first Visa Sig. All depends on your situation and goals.

[trant3]

Thanks everyone for the input, as a result my urge to request a HP CLI subdued. The "worth" of anything is very subjective as others have mentioned, so I thought about what it is worth to me and realized the CLI is not worth it at all as I have a long term goal to purchase a home in the next 1-2 years. Therefore, the extra INQ and point decrease is not "worth" it for me, I'll just live vicariously through others on here. Again thanks everyone!