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

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Valued Member

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

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

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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
Message 1 of 15
14 REPLIES
Super Contributor

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
Message 2 of 15
Valued Member

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
Message 3 of 15
Frequent Contributor

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.
Message 4 of 15
Super Contributor

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
Message 5 of 15
Frequent Contributor

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.
Message 6 of 15
Established Member

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!
Message 7 of 15
Senior Contributor

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.
Message 8 of 15
Contributor

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

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
Message 9 of 15
Regular Contributor

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 !
Message 10 of 15