Now having applied for a modest CLI on my Discover card and getting denied (after applying for a CLI on my WF card and denied), I've come to the conclusion I'm not going to get a CLI. I think this is because my income is too low. I make around 18k a year and, though this does not affect my ability to pay off my CC in full every month, the companies simply are unwilling to increase my CL. I think the soft pull CLIs are more heavily influenced by income, but if I allowed a hard pull, they probably would have approved my request based on my credit history and score. I should be getting my AMEX card soon (which I found out has a $7100 CL) I just hate the fact that I have my WF and Discover with such pathetic limits of $1200 and $2250. I think WF and Discover ought to put more weight into your history with them, as opposed to your income. While it is true my income is low, I put almost every expense on my CC and that is a sizeable amount every year. I never had a late payment and I have shown them that I don't carry unsustainable balances. I told the WF rep that I like to keep low utilization on my WF card and because my CL was so low, I put more purchases on my Discover. If I was able to, I would put more purchases on my WF card, which means more transaction fees for WF. This did not get me what I wanted though.
I wonder if my income will have a big effect on my attempting a 3xCLI for the AMEX on day 61? Since my CL is 7100, I was thinking I would request an even $20,000 on day 61. Or maybe I should play it safe and ask for a modest $10,000 from AMEX? Anyone have experience with AMEX's policies and know if they will put a lot of weight in income vs payment history?
AMEX BCE $7,100 eBay MasterCard $5,000 SallieMae MasterCard $1,100 Emigrant Direct $4,500 Wells Fargo Platinum $1,500
Belk Rewards $1,700 Amazon Rewards $3,000 WalMart Discover $1,200 Barclay's Rewards $1,000 Discover More $2,800
What's in your wallet? : D
