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Frequent Contributor
youngman1234
Posts: 459
Registered: ‎02-27-2012
0

CLI..... when should I ask ???

By the way just to let everyone I also posted my recent FR from Amex which i still have yet to hear back from......... 

 

History... 

 

Length of credit history - 1 year 7 months

AAOA: 8 months 

I am 22

 

2010 - 

 

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 

Capital one - $500 ( now $750) 

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000) 

Macys & Bloomingdales 

 

2011 - ( In Nov 2011 added 11 new accounts)  Now have: 

 

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG 

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

 

I have been PIF since NOV 2011, and have used up the entire limit on most cards. In otherwords with my BOA cards in specific I have charged $2990 on the PLat and the the other two $1990 every month so far, but pay off the bill before the statement cuts. I want to hit the lov button so bad but dont think I will get approved. 

 

Current score - 663 ( have about $8,000 in debt reporting Penfed - 5000 & Amex SPG ( 3,000), but will Pay off when the bill will come. I am waiting for the two new BOA cards to hit six months first and then request CLI, but wanted to know do you think it would be wise to request a CLI for the graduated card. I have the longest history with this card and had a $10,000 when it was secured. As of right now all my BOA cards together only have a 7,000 limit which is nothing. My brother and I use the cards for our business and charged almost $75K since NOV 2011 and paid off in full the entire amount..  


Any suggestions ?? 

Valued Contributor
jamesdwi
Posts: 1,970
Registered: ‎09-16-2011
0

Re: CLI..... when should I ask ???


youngman1234 wrote:

By the way just to let everyone I also posted my recent FR from Amex which i still have yet to hear back from......... 

 

History... 

 

Length of credit history - 1 year 7 months

AAOA: 8 months 

I am 22

 

2010 - 

 

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 

Capital one - $500 ( now $750) 

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000) 

Macys & Bloomingdales 

 

2011 - ( In Nov 2011 added 11 new accounts)  Now have: 

 

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG 

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

 

I have been PIF since NOV 2011, and have used up the entire limit on most cards. In otherwords with my BOA cards in specific I have charged $2990 on the PLat and the the other two $1990 every month so far, but pay off the bill before the statement cuts. I want to hit the lov button so bad but dont think I will get approved. 

 

Current score - 663 ( have about $8,000 in debt reporting Penfed - 5000 & Amex SPG ( 3,000), but will Pay off when the bill will come. I am waiting for the two new BOA cards to hit six months first and then request CLI, but wanted to know do you think it would be wise to request a CLI for the graduated card. I have the longest history with this card and had a $10,000 when it was secured. As of right now all my BOA cards together only have a 7,000 limit which is nothing. My brother and I use the cards for our business and charged almost $75K since NOV 2011 and paid off in full the entire amount..  

Any suggestions ?? 


Lay low, don't rock the boat. Use the cards you have, PIF as quickly as possible, more INQ's (could happen if they do a HP to approve the CLI)  will only raise more flags with your existing creditors. Dont use more than 70% of your limits if at all possible, Sit and wait for AutoCLI's you are making the credit card companies a lot of money at the same time they may be getting nevous 11 inq's and new cards in a single month, Since most of your accounts are new they all are probably doing SP's 2-3 times a month each. So they can see what is going on. 

 

If you manage to keep and the accounts and cash flow for coming for a year, your creditors will probably be very happy and will give you CLI's and perhaps more but creditors want smooth sailing at the start of the relationship. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011
0

Re: CLI..... when should I ask ???

I would take the advice you got on your first post. 

Frequent Contributor
youngman1234
Posts: 459
Registered: ‎02-27-2012
0

Re: CLI..... when should I ask ???

Thanks for the advice.... I really dont care about CLI for any of my cards except Bank of America cards.... My brother and I have a good relationship with them, and I used to have a secured card with them on just one card for 10K, then they unsecured it for only 3K.  But then the following week gave me 2 cards with 2k limit on each... So the unsecured one have had for 1 year 7 months ( the 3K one) and the other 2 for only 3 months now... Have ran about 20K on all 3 cards together in the past 3 months and PIF on due date or before statement cuts...I read that BOA does a soft pull so thought it would be ok to go for it... When I got approved for the 2 new cards they told me that the limits are low, but after some history I should call back and try for a CLI... at least that what the rep told me. 

 

Also will only ask for a CLI once my score is back into the 700's.... 

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: CLI..... when should I ask ???

+1 Getting that many cards in one month is a real anomaly. I wouldn't rock the boat AT ALL! Anything that draws attention to your CR could mean AA or CLD. You're really pushing your luck getting that many cards at once.

 

If you get any auto-CLIs, consider yourself lucky. I wouldn't even *think* CLI request for at least a year.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Frequent Contributor
youngman1234
Posts: 459
Registered: ‎02-27-2012
0

Re: CLI..... when should I ask ???

Whats a AA ??? 

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: CLI..... when should I ask ???

aa= adverse action

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

Re: CLI..... when should I ask ???


youngman1234 wrote:

By the way just to let everyone I also posted my recent FR from Amex which i still have yet to hear back from......... 

 

History... 

 

Length of credit history - 1 year 7 months

AAOA: 8 months 

I am 22

 

2010 - 

 

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 

Capital one - $500 ( now $750) 

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000) 

Macys & Bloomingdales 

 

2011 - ( In Nov 2011 added 11 new accounts)  Now have: 

 

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG 

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

 

I have been PIF since NOV 2011, and have used up the entire limit on most cards. In otherwords with my BOA cards in specific I have charged $2990 on the PLat and the the other two $1990 every month so far, but pay off the bill before the statement cuts. I want to hit the lov button so bad but dont think I will get approved. 

 

Current score - 663 ( have about $8,000 in debt reporting Penfed - 5000 & Amex SPG ( 3,000), but will Pay off when the bill will come. I am waiting for the two new BOA cards to hit six months first and then request CLI, but wanted to know do you think it would be wise to request a CLI for the graduated card. I have the longest history with this card and had a $10,000 when it was secured. As of right now all my BOA cards together only have a 7,000 limit which is nothing. My brother and I use the cards for our business and charged almost $75K since NOV 2011 and paid off in full the entire amount..  


Any suggestions ?? 


I wouldn't be asking for any CLI's with that many new accounts right. You need to garden for a least a year. All your going to do is rock the boat esp. with Barclay's (if they already aren't on to you)




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Member
calogan
Posts: 49
Registered: ‎02-22-2012
0

Re: CLI..... when should I ask ???


youngman1234 wrote:

I read that BOA does a soft pull so thought it would be ok to go for it... 



BofA is (now) always a hard pull on a customer initiated CLI.

 

General rule of thumb, always assume it will be a hard pull and be ready for it, be happy if it is only a soft pull.

Amex Accelerated Cash Rewards. BankAmericard Privileges with Travel Rewards. Amex Blue Cash Preferred. Chase Sapphire Preferred.
Now gardening until 2013. I assume gardening is a metaphor, like "book clubs" where all you do is drink wine.

Valued Member
Capn12
Posts: 47
Registered: ‎01-15-2009
0

Re: CLI..... when should I ask ???

Whew...I would heed the advice already given in the responses...lay low, let them age, and hope you keep all of the accounts that were recently opened. I'm surprised Barclay's hasn't barked loudly already. The CLIs will come once some time has passed.

Citi Simplicity - $7400, 0% APR until April 2013, 13.99 afterwards
Chase Freedom - $5000, 11.99% APR
Barclays Priceline - $8500, 16.24% APR (This needs fixed!)
Discover More - $7500, 0% APR until March 2014
HSBC 'Platinum' - $1600, 19.99% APR (Only around for the age)
AmEx Zync - NPSL, He doesn't get much action these days

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