Best way to earn CLI

[Anonymous]

Ok, i'm been wondering what banks like to see to approve a CLI.  Is it usage, carry a small balance, PIF?? What is the best way. If its usage, should i sock the ole check card and use the credit card for everyday things?  I'm hoping to increase my BOA Amex.

[Creditaddict]

I vote for usage.  but many on here say use it as high as you can and pay all but 5-9% of balance before statement close so the bank sees high usage but credit report doesn't.

[kbell]

I agree on the usage and good payment history, but I don't think you need to leave 5-9%. Avoid finance charges if you can. I had 0% when I called Citi to have them increase my cl from 6,300 to 20,000.

[Anonymous]

Usage and pay in full_

[Anonymous]

How soon is too soon to ask for another CLI after you receive one. I was granted $500 mid november, is it too soon to ask for another now. Is that a red flag?? Or is that enough time? 

[Anonymous]

Can't speak for most cc's, and it depends on what ccc you are going to ask.

But with HSBC, it's only every 6 months. Some a year. Like I say, it depends on the ccc.

[Anonymous]

Bank Of America

[fused]

It depends on the CCC. Here's my personal experience:

Amex: PIF or revolve small balances and make large timely payments = CLI

CITI: similar to Amex but to a lesser extent

FIA: high usage and using BTs will net CLIs

Chase: it's a mixed bag, sort of like a CCC with multiple personalities

[Anonymous]

Anybody have insight on the BOA CLI? Whats the formula

[haulingthescoreup]

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@kbell wrote:
I agree on the usage and good payment history, but I don't think you need to leave 5-9%. Avoid finance charges if you can.

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I'm assuming Creditaddict is referring to allowing 1-9% to report to the CRA's and then paying before the due date, thus avoiding finance charges.

It's always fun trying to please both the CCC (putting lots of charges on the card) and the FICO scoring gods (allowing under 10% to report.)