CLI effects on application

[jim44]

Was wondering if anyone has had the experience of requesting a CLI and then applying for a MC about a month later? How bad will my FICO take a hit?  If approved. ..which I'm almost certain will increase my utilization ratio....   I'm thinking the CLI is for a store card and will result in a HP. I've already had an HP from CITI about a month ago.  Thanks for all replies.

[myjourney]

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@jim44 wrote:

Was wondering if anyone has had the experience of requesting a CLI and then applying for a MC about a month later? How bad will my FICO take a hit?  If approved. ..which I'm almost certain will increase my utilization ratio....   I'm thinking the CLI is for a store card and will result in a HP. I've already had an HP from CITI about a month ago.  Thanks for all replies.

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Welcome to the forum

Please explain 

Same card same lender?

New lender?

[dave024]

Not sure if this answers your question directly, but when I applied for Barclays last year one of the things listed in my denial letter was that I had recently had a couple of credit limits increased on other cards. 

[jim44]

Thanks Dave, for the reply of your experience.

My Journey,  the CLI would be through GEMB on a Lowe's store card opened in Oct 2013.  Actually i'd be applying for a Visa through my CU.  I'm kind of thinking like Dave that I may be denied the VISA if GEMB grants the CLI.  Thanks for your replies

[myjourney]

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@jim44 wrote:

Thanks Dave, for the reply of your experience.

My Journey,  the CLI would be through GEMB on a Lowe's store card opened in Oct 2013.  Actually i'd be applying for a Visa through my CU.  I'm kind of thinking like Dave that I may be denied the VISA if GEMB grants the CLI.  Thanks for your replies

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Since Lowes is a SP and can grow fast I would go for the CLI regardless and if you think you want the CU card apply....

You don't see many denials because you received a CLI in fact it may increase the odds of getting higher limits in some cases 

IMHO

[dave024]

I just wanted to add that the increasing credit lines was probably a minor factor, but it influenced them in some way for them to mention it. When I attempted a recon they gave me other reasons, such as not having enough data to show I am repaying back what I owe. 

[parakleet]

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@myjourney wrote:

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@jim44 wrote:

Thanks Dave, for the reply of your experience.

My Journey,  the CLI would be through GEMB on a Lowe's store card opened in Oct 2013.  Actually i'd be applying for a Visa through my CU.  I'm kind of thinking like Dave that I may be denied the VISA if GEMB grants the CLI.  Thanks for your replies

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Since Lowes is a SP and can grow fast I would go for the CLI regardless and if you think you want the CU card apply....

You don't see many denials because you received a CLI in fact it may increase the odds of getting higher limits in some cases 

IMHO

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+1 any potentially negative effects attributable to CLIs are likely connected to maybe income/credit limit ratio (ex. Too much credit in relation to income)  or if those CLIs required multiple HPs. Typically SP CLIs are considered positives and even if you took a HP for one, Id find it hard to believe that could affect you negatively.

[Creditaddict]

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@jim44 wrote:

Thanks Dave, for the reply of your experience.

My Journey,  the CLI would be through GEMB on a Lowe's store card opened in Oct 2013.  Actually i'd be applying for a Visa through my CU.  I'm kind of thinking like Dave that I may be denied the VISA if GEMB grants the CLI.  Thanks for your replies

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1. Almost all GE cards including lowes are SP's.

2. It's lowes and know for giving HUGE cli's and you should call the "credit solutions" number 866-519-6441 and ask for $25k, they will counter! Seriously!!

3. What credit union?

[jim44]

Thanks for all the informative replies. I've been helping out in F&I at work and have learned much more from this forum.

 I'm working on my home and love the store cards for the no interest promotions.  That is why the CLI request with Lowes. It's good to know that GEMB does SPs with CLI's as I'm trying to boost my FICO. As far as the CU and the VISA goes, it's local... Achieva.  I joined the CU back in 87, however it merged with Achieva around 2009.  So it's like starting over with them as all my previous car loans, HELOCs and CC's positive TLs with the CUs have dropped off my CR.

[Creditaddict]

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@jim44 wrote:

Thanks for all the informative replies. I've been helping out in F&I at work and have learned much more from this forum.

 I'm working on my home and love the store cards for the no interest promotions.  That is why the CLI request with Lowes. It's good to know that GEMB does SPs with CLI's as I'm trying to boost my FICO. As far as the CU and the VISA goes, it's local... Achieva.  I joined the CU back in 87, however it merged with Achieva around 2009.  So it's like starting over with them as all my previous car loans, HELOCs and CC's positive TLs with the CUs have dropped off my CR.

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Do you know your current scores?

What is your current Lowes Credit Line?