Best Buy CLI Advice/Input Please!

EJMiv · ‎03-23-2016

Hi all,

Recently closed on our first home in January. My other half wasn't living/working in AZ yet (we came over from FL), so we had to go conventional initially. Now that he's here and working, we'll be refinancing to VA in about six months.

We plan to replace the kitchen appliances after refinancing (we'll likely do one of their financing promos for the purchase), but my Best Buy credit limit is only $1500. I've got great credit (760's, but AAoA is just under two years), and Citi turned me down for a CLI shortly after they took over from Cap One when I was in the 720's at the time.

We will need close to a $8k credit line to cover it, and would prefer about $10k so we're not maxing it out. The coventional loan for this house still isn't reporting, so do you think it'd be better to try for a CLI now, wait until the conventional TL starts reporting, or wait until after refi? I'm afraid that if we go the other two routes, they will likely so no. Any insight or past experiences you all can provide to guide our decision making would be much appreciated!

Anonymous · ‎03-23-2016

I can't say this is much advice...But they did decline DH intiial credit line increase right after we closed on our house but it was already reporting....then about 3 months later, tried it again and it went through...Your card is retro, you might have some luck with it...The CLI is online now but still done traditionally, if it doens't outright decline you, they usually apply it within a day....request high and they do counter with a response message....If you're declined call and ask them to do it manually and explain the card has no real use if it can't be used for appliances that they know are priced over your current limit or go the Lowes route (if you have one near you), they are sync and a lot more forgiving and generous.

EJMiv · ‎03-24-2016

Thanks for your input. Went ahead and pulled the trigger online. Asked for $8500 CLI to bring my limit to $10k. Got a response within a few minutes asking me to call in. Got transferred to new accounts, she asked for additional information, put me on hold while she pulled my credit (HP), and a few minutes came back with the full amount I requested!

Anonymous · ‎03-24-2016

Congrats...the call always feels so hard but usually works out