@longtimelurker wrote:
@Anonymous wrote:Many people on this board really seem into getting CLIs. I understand the UTL factor but are there any other pros and cons to getting a lot of CLIs?
The major advantage here is that people can put "$XXXXX in total CL" in their sigs
Aren't we being catty this AM?? 
@Anonymous wrote:Do think carefully before slashing credit limits voluntarily. Lenders looking at your report see the CLD and don't know that it was you who initiated it. It especially looks concerning when multiple accounts show this. Just a word of caution.
Just out of curiousity, bc I am "new' to the credit game. What would prompt a lender to see it as a negative?
@irunfromcredit wrote:
@Anonymous wrote:Do think carefully before slashing credit limits voluntarily. Lenders looking at your report see the CLD and don't know that it was you who initiated it. It especially looks concerning when multiple accounts show this. Just a word of caution.
Just out of curiousity, bc I am "new' to the credit game. What would prompt a lender to see it as a negative?
An issuer can reduce CL as a way of reducing their perceived risk. So another issuer might get concerned if they see several CLDs. (Not sure this actually happens but if it did!)
@Anonymous wrote:CLI's can serve the purpose of enabling you to strengthen and streamline your profile.
For example, I request CLI's on certain cards because I would like to build up the credit line of that specific card, all the while keeping my overall profile in mind and the fact that CLI's on certain cards enable me to close other cards as I'm not really losing anything, and in fact am bolstering the cards that serve me best.
Also, CLI's enable to you streamline the number of cards you have. I'd rather have fewer cards with larger credit lines, and building up the credit lines of certain cards while closing others that no longer serve my purpose will assist in doing so.
During our credit lives it's important to be flexible and realize that cards that once served us well may no longer do so at a point down the road. It's part of the journey.
+1000
This is my strategy. I'm closing the useless cards and bolstering the ones the serve me best! I already have a mortgage and get auto loans at will. My limits seem to not spook only the most conservative lenders. Who still in the end come back and try to offer me a product. Go figure? Lol
@longtimelurker wrote:
@irunfromcredit wrote:
@Anonymous wrote:Do think carefully before slashing credit limits voluntarily. Lenders looking at your report see the CLD and don't know that it was you who initiated it. It especially looks concerning when multiple accounts show this. Just a word of caution.
Just out of curiousity, bc I am "new' to the credit game. What would prompt a lender to see it as a negative?
An issuer can reduce CL as a way of reducing their perceived risk. So another issuer might get concerned if they see several CLDs. (Not sure this actually happens but if it did!)
Ahhhh! Gotcha! Well, I am not going to get my drawers in a bind if a lender perceives me as a risk or not. 
I guess it's all personal preference. I guess I realized (probably too late) that I didn't need a large amount of credit. Thanks for the clarification!
@Anonymous wrote:Many people on this board really seem into getting CLIs. I understand the UTL factor but are there any other pros and cons to getting a lot of CLIs?
Bigger credit lines beget bigger credit lines.
Biggest card: British Airways $33,000
Total credit: $276,400
Util: 4%
(I gotta update my siggy!) -LOL
