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Established Member
godsentdeath
Posts: 32
Registered: ‎07-31-2013
0

Chase CLI - to request now or to wait

Hi all, long time listener, first time caller. I wanted to seek advice on whether to app for a Chase (Freedom) CLI.

 

Here is what my profile looks like:

 

CC debt: 14k  down from about 17k in february when I moved and incurred expenses.

AAOA: 4 y 2 m


income: 78k

 

Credit card portfolio (according to 8/20/13 CK TU:

 

Score 682

 

Discover It (converted from more in july): CL 3600, Bal 3000 AOA: Sept 2006. (Disover didnt seem to report this month yet, but I got the CL increased to 5100 via soft pull in July and 8600 via hard pull today)

 

First Financial Bank USA: CL 7500, Bal 2000, AOA Nov 2007. I hate this card, 26% interest and they wont do a damn thing to change it

 

Wells Fargo visa: CL 5500, Bal 2800 AOA Jan 2012

 

Ge Capital (Kanes Furniture) CL 3900, Bal 1700, AOA Feb 2013 (needed furntiure for new house when I moved)

 

Capital one  CL 2750, bal 1710, AOA March 2006 (was visa platinum but conversion to Quicksilver in process via EO, also just got a 250 (scoff) CLI via EO which hasnt reported yet)

 

Citi Platnum select CL 2400, Bal, 1400, AOA May 2008 (conversion to diamond preferred in progress) Cant get a CLI to save my life out of them. Any recon numbers anyone knows of? I tried to use the backdoor numbers to get ahold of a credit analyst with no results.

 

Target redcard. CL 200, Bal 60 need I say more about this?

 

Zales diamond card (citi) CL 4000, bal 500.

 

Chase Freedom (old circuit city conversion) CL 1100, bal 800, AOA aug 2008. Was 2000 CL but cut due to inactivity sometime in early 2009 or 2010. balance is now closer to 500.

 

Auto Loans:

 

1. BBT 3k

2. TD bank 9k (this one hasnt reported to CB yet from what I can tell. I opened it last month)

 

Student Loans

1. Federal Loans 200k on income based repayment. Montly payment $100 (mortgage on my life)

2. Sallie may student loan 15k. Monthly payment: 170

 

INQ:

 

4 ( but will be 5 after discover hits) most of these came this year with my move and with my new auto loan.

 

Baddies:

 

None.

 

 


Pros to asking now:

1. no TD bank auto loan on CR

2. discover HP wont be on CR

 

Cons:


1. about 400 in payments not not being reported

2. CLI on discover from 3600 to 8600 not reporting

 

Reason for wanting CLI

 

balance transfer offer. Wnat to get money off my First financial bank USA card and my wells fargo card which have over 24% interest

 

 

Any thoughts. What does chase consider? Do they deline for too many INQ? I can explain my increase in spending due to moving, and also can suppot that with 3k payoff over the past few months if I can speak with credit analyst. Is it worth taking the HP now or should I wait till discover gets to fully report. I am genuinley trying to throw everything I have at these cards and pay them down. I want to mortgage for a house next year and this is likely my last HP before gardening. Any input would be helpful.

 

 

Valued Contributor
FinStar
Posts: 6,633
Registered: ‎10-21-2012
0

Re: Chase CLI - to request now or to wait


godsentdeath wrote:

Hi all, long time listener, first time caller. I wanted to seek advice on whether to app for a Chase (Freedom) CLI.

 

Here is what my profile looks like:

 

CC debt: 14k  down from about 17k in february when I moved and incurred expenses.

AAOA: 4 y 2 m


income: 78k

 

Credit card portfolio (according to 8/20/13 CK TU:

 

Score 682

 

Discover It (converted from more in july): CL 3600, Bal 3000 AOA: Sept 2006. (Disover didnt seem to report this month yet, but I got the CL increased to 5100 via soft pull in July and 8600 via hard pull today)

 

First Financial Bank USA: CL 7500, Bal 2000, AOA Nov 2007. I hate this card, 26% interest and they wont do a damn thing to change it

 

Wells Fargo visa: CL 5500, Bal 2800 AOA Jan 2012

 

Ge Capital (Kanes Furniture) CL 3900, Bal 1700, AOA Feb 2013 (needed furntiure for new house when I moved)

 

Capital one  CL 2750, bal 1710, AOA March 2006 (was visa platinum but conversion to Quicksilver in process via EO, also just got a 250 (scoff) CLI via EO which hasnt reported yet)

 

Citi Platnum select CL 2400, Bal, 1400, AOA May 2008 (conversion to diamond preferred in progress) Cant get a CLI to save my life out of them. Any recon numbers anyone knows of? I tried to use the backdoor numbers to get ahold of a credit analyst with no results.

 

Target redcard. CL 200, Bal 60 need I say more about this?

 

Zales diamond card (citi) CL 4000, bal 500.

 

Chase Freedom (old circuit city conversion) CL 1100, bal 800, AOA aug 2008. Was 2000 CL but cut due to inactivity sometime in early 2009 or 2010. balance is now closer to 500.

 

Auto Loans:

 

1. BBT 3k

2. TD bank 9k (this one hasnt reported to CB yet from what I can tell. I opened it last month)

 

Student Loans

1. Federal Loans 200k on income based repayment. Montly payment $100 (mortgage on my life)

2. Sallie may student loan 15k. Monthly payment: 170

 

INQ:

 

4 ( but will be 5 after discover hits) most of these came this year with my move and with my new auto loan.

 

Baddies:

 

None.

 

 


Pros to asking now:

1. no TD bank auto loan on CR

2. discover HP wont be on CR

 

Cons:


1. about 400 in payments not not being reported

2. CLI on discover from 3600 to 8600 not reporting

 

Reason for wanting CLI

 

balance transfer offer. Wnat to get money off my First financial bank USA card and my wells fargo card which have over 24% interest

 

 

Any thoughts. What does chase consider? Do they deline for too many INQ? I can explain my increase in spending due to moving, and also can suppot that with 3k payoff over the past few months if I can speak with credit analyst. Is it worth taking the HP now or should I wait till discover gets to fully report. I am genuinley trying to throw everything I have at these cards and pay them down. I want to mortgage for a house next year and this is likely my last HP before gardening. Any input would be helpful.

 

 


If reading the above statement is factual with your current obligations ($14K debt vs. $17K in TLs) then your utilization seems to hone around 82%... is this correct?  Btw, inquiries reflect in real time, so in the event that Chase decides to double HP, they would likely see all inquires on your other CRs.

Established Member
godsentdeath
Posts: 32
Registered: ‎07-31-2013
0

Re: Chase CLI - to request now or to wait

No, sorry, i meant to put utilization. CK reports it at 45% as of 8/20. Good point on the double pull.

Valued Contributor
FinStar
Posts: 6,633
Registered: ‎10-21-2012
0

Re: Chase CLI - to request now or to wait

[ Edited ]

godsentdeath wrote:

No, sorry, i meant to put utilization. CK reports it at 45% as of 8/20. Good point on the double pull.


IMO, try to get the utilization to a more ideal level (around 20%, less would be better) since this will be one item that could potentially come up in the event that (a) your CLI (if approved) is less than ideal or (b) your CLI is not approved and you want them to re-review/reconsider their decision...this is where the 2nd HP may come into play in the event the u/w decision becomes borderline.  Of course, as with anything your results may vary.


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