Balance when requesting a CLI?

[masscredit]

Does it matter if you have a balance on a company's cards when you request a CLI? It's time for me to request on a CLI on one of my Cap 1 cards. I have two of them, one has a $2400. balance ($4500 limit) and the other is $850. ($2500 limit). It's time to bump up the $2500 card. I pay those cards off monthly so they always report $0. Is it better to wait until just after the balances report zero or does it not matter?

Thanks! 

[gdale6]

I would just give them a call and request the CLI, they know you are PIF before the statement even cuts, this raises your profile with them. Good luck

[takeshi74]

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@masscredit wrote:

Does it matter if you have a balance on a company's cards when you request a CLI?

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It can.  That said, I've had CLI's with and without balances.  I've also had denials with and without balances.  It's not really that simple of a causal relationship.  If you want the best possible odds you may want to pay them first.  Given that one of the cards is at 53% utilization I'd suggest getting it down first.  Even the other one is at 34% which is above the general 30% max recommendation.

[masscredit]

That part is the final piece of the puzzle that I'm looking at. My Barclay's Apple card has got some use over the last few months. Just paid it down to have my total utilization at 8% when that card reports next week (down from 19% now).  I just try to have my credit profile the best that it can be when seeking new credit. A run a few thouand through my Cap 1 cards some months but it's been a long time since they have had a balance when the statement closed. 

I could just wait 2 weeks then go for it after those statements post a $0. balance.

[amakol]

$0 balance might hurt you. I aim for 25-50% of credit limit.

Source: http://www.barclaycardring.com/t5/Barclaycard-Ring-Public-Blog/A-Case-Study-of-a-Credit-Line-Increas...

[Kenny]

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@bonehead88 wrote:

$0 balance might hurt you. I aim for 25-50% of credit limit.

Source: http://www.barclaycardring.com/t5/Barclaycard-Ring-Public-Blog/A-Case-Study-of-a-Credit-Line-Increas...

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But they are talking about Capital One? :-/

I've had them both ways, but I'm with the takeshi.. might just want to pay them off 100% Capital One and that will maybe give you a better snapshot of your credit profile so to speak when they soft pull you for the CLI.

You = OP

[asulaw]

I was nearly maxed on a couple of my cards and got new CL with other companies and had gotten CLI with companies when I had a high utilization. It never hurts to ask? Unless it's a HP, then it hurts.

[amakol]

Last 2 CLI's I've had were Amex adding $4K (40% statement balance) and Citi adding $3.5K (40% statement balance).

[amakol]

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@KennyRS wrote:

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@bonehead88 wrote:

$0 balance might hurt you. I aim for 25-50% of credit limit.

Source: http://www.barclaycardring.com/t5/Barclaycard-Ring-Public-Blog/A-Case-Study-of-a-Credit-Line-Increas...

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But they are talking about Capital One? :-/

I've had them both ways, but I'm with the takeshi.. might just want to pay them off 100% Capital One and that will maybe give you a better snapshot of your credit profile so to speak when they soft pull you for the CLI.

You = OP

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Right, no clue about Cap1. They're special in their own way. But as stated above, the Barclays advice seems to hold true for Amex/Citi and who knows who else. Will try BOA with same 40% utilization in 2 months and find that out too.

[masscredit]

I'll use the "Luv Button" first then call if that is denied or I would like more than it gives me. I called the EO office for my first few increases. Last time, I used the button for my higher limit Cap 1 card. Went from $2500. to $4500. I was satisfied with that. Looking for the same with the other card. That was an old Orchard card that was transfered to Cap1 when the took over last year.