Credit Card Center Advertiser Disclosure

Reply
Highlighted
Valued Member
Posts: 25
Registered: ‎07-24-2007
0 Kudos

Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

[ Edited ]
This is how bad it looks

1) Revolving CC - CL of 2000 - 1900 Unpaid

2) Revolving CC - CL of 2000 - 1900 Unpaid

3) Revolving CC - CL of 2000 - 1900 Unpaid

4) Revolving CC - CL of 2000 - 1900 Unpaid

5) Revolving CC - CL of 400 - 350 Unpaid

6) Best Buy Store Card - CL of 1500 - Balance $0

7) Home Depot Store Card - CL of 1500 - Balance $0

8) Fire Stone Store Card - CL of 800 - Balance $0

9) PIF AMEX 2000 Balance

------------------------------------------------------

Now if I can pay my balances in full, how and in what way can I get CLI for all my Credit Cards so when I come to get new ones they would match the same CL?

By the way I have just checked my Equifax score and its a shame full 597 Smiley Sad

Probably because I have a PIF AMEX showing a 2000 balance

Message Edited by moods on 07-25-2007 02:17 PM
Super Contributor
Posts: 8,198
Registered: ‎03-25-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

I make it that you owe 8,000 on a total CL of 40,000, which is 20% util.
 
If you need more credit, why not just pay all the balances, keep apparent util at about 1% and ask.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Member
Posts: 25
Registered: ‎07-24-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

sorry my mistake the store cards are 1500 not 15 thousand
Frequent Contributor
Posts: 342
Registered: ‎06-16-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

Utilization can be looked at in 2 ways. Fist the overall utilization and then the per account utilization. Those 2K CCs that are almost maxed out are likely tanking your FICO. If you are able to pay them off or at least pay them down to around 10-13% utilization I would do that and make sure your CRs are updated before you apply for anything else.

There is also way more to be taken into account, do you have any derogs, how old are these accounts and how many Inqs on your CRs? All of these factor into your FICO and would effect any CL that you may get offered when applying for a new card.
Super Contributor
Posts: 8,198
Registered: ‎03-25-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?



moods wrote:

Now if I can pay my balances in full, how and in what way can I get CLI for all my Credit Cards so when I come to get new ones they would match the same CL?
 

 

Just pay down the balances and ask?
 
And what do you mean by "when I come to get new ones they would match the same CL" ?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Frequent Contributor
Posts: 342
Registered: ‎06-16-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?


MidnightVoice wrote:


moods wrote:

Now if I can pay my balances in full, how and in what way can I get CLI for all my Credit Cards so when I come to get new ones they would match the same CL?


Just pay down the balances and ask?
And what do you mean by "when I come to get new ones they would match the same CL" ?




Some CCCs have a habit of just matching the highest reporting CC TL that you have. If you pay them down and make sure you don't apply before your CRs are reporting as such and you don't have any derogs I'd bet that your score goes up enough to surpass these CLs.
Established Member
Posts: 18
Registered: ‎06-28-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

In my experience, Bankcards such as BoA, USbank & Discover like 6 months before the next CLI, Walmart charge account CLI every 4 months, Weisfield Jewelers 1 year. You should make a big payment to reduce the balance as much as you can first, then call to see "if your account qualifies for a CLI with "no hard pull." Be sure to ask for NO HARD PULL. Sometimes the account history/time open is the most important aspect because you need "experience at your current credit limit" before they can qualify you for a CLI. I've increased my total CL from 2K to almost 10K in a matter of 1 year and I'm fairly new to credit. So just remember every 6 months get a CLI or sooner if you make big payments and are friendly about the CLI requests. If you get a new job, ask for a CLI. If you pay your balances off, ask for a CLI. If you got a low CL on a card + good payment history, ask for a CLI. Remember ask for "No Hard Pull." If they say no, try again later. Don't let them trick you into filling out an application = hard inquiry!
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

moods,
 
Here's the util on your CCs.

1) 95.0%
2) 95.0%
3) 95.0%
4) 95.0%
5) 87.5%
6) 0.0%
7) 0.0%
8) 0.0%
9) 0.0%

Your overall util is 56%, which could be better, but CCs #1 thru #5 are what's likely killing your FICOs.

If you can PIF all your CCs, then go ahead and pay those with a balance down to 40% util.
Contributor
Posts: 76
Registered: ‎06-30-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

[ Edited ]
So if mine are:
Card # CL Cur Bal:
1 9,000 6,500
2 7,800 0
3 17,000 0
4 6,000 3,700
5 3,000 0
6 4,500 2,500 (This is my Crap1 card and they don't report CL)
7 9,800 7,200
8 9,800 4,000
9 6,000 2,400
10 9,000 2,600
11 11,200 2,200
12 10,000 3,200
13 0 965 (Lumber Liquidators that they closed)
14 11,000 0
15 1,000 0
16 1,000 0
17 6,000 0
18 1,000 0
19 3,000 1,100
20 3,500 0
21 6,600 0

FICO is about 715 and I think they report my util at 26% Seems that what you're saying is that my cards #1 and 7 are "killing" my score more than the actual utilization is? So I'm better to spread the debt below what "magic" number to increase the score? Right now the balances are that way due to 0% or some other low fixed rate. The Lumber Liquidators used to have a 6,000 credit limit, but they ended their Visa card relationship with WellsFargo and closed the account (I have to pay it off by 8/15/07 as that's when the 0% financing ends). I've left out my Amex cards that don't have a credit limit. Crap1 only report high limit (4500) and not the actual CL (which is 7500). Because they're whores. But I have 0% for another 12 months.

Message Edited by m_jonis on 07-26-2007 06:59 PM
Finally made it to 813
Regular Contributor
Posts: 139
Registered: ‎06-28-2007
0 Kudos

Re: Best way to get CLI if I am 69% in CC debit and can pay it all off in one go?

This is really good info and by the way, you just make me laugh !!! Whores... bastards, ...hahaah , ok you didn't say bastards, but hey in this great time of be fico focused, a good laugh is worth 100 fico points!!! THANKS !

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.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* 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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.