Did I do the right thing by asking for CLIs?

[Anonymous]

Hey folks, 

Here's my situation. I am trying to stay between 10-12% utilization on all my cards (until I can get it lower obviously), but I will have some things coming up that I will have to use my cards for in the next month or two. In anticipation of this, I did SPs for my Amex, Discover, and Citi and got some nice increases (8.4k in total). Today, I decided to ask for a CLI on my Synchrony CarCare One card and got a 2k increase. But, in order to get that increase, I had to do a HP. Of course, they didn't mention that until it was done and approved (I should've asked first). 

In any event, I now have the room needed to keep me around that 10% utilization. But was an HP from Synch worth it? Or did I get greedy and outsmart myself on this one? 

I guess my only concern is that I am now looking "desperate" for big credit lines. Specifically, I worry about Amex freaking out. Should I be concerned? 

[Anonymous]

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@Anonymous wrote:

Hey folks, 

Here's my situation. I am trying to stay between 10-12% utilization on all my cards (until I can get it lower obviously), but I will have some things coming up that I will have to use my cards for in the next month or two. In anticipation of this, I did SPs for my Amex, Discover, and Citi and got some nice increases (8.4k in total). Today, I decided to ask for a CLI on my Synchrony CarCare One card and got a 2k increase. But, in order to get that increase, I had to do a HP. Of course, they didn't mention that until it was done and approved (I should've asked first). 

In any event, I now have the room needed to keep me around that 10% utilization. But was an HP from Synch worth it? Or did I get greedy and outsmart myself on this one? 

I guess my only concern is that I am now looking "desperate" for big credit lines. Specifically, I worry about Amex freaking out. Should I be concerned? 

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No need to worry.  Amex isn't going to freak out over a $2K CLI.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Hey folks, 

Here's my situation. I am trying to stay between 10-12% utilization on all my cards (until I can get it lower obviously), but I will have some things coming up that I will have to use my cards for in the next month or two. In anticipation of this, I did SPs for my Amex, Discover, and Citi and got some nice increases (8.4k in total). Today, I decided to ask for a CLI on my Synchrony CarCare One card and got a 2k increase. But, in order to get that increase, I had to do a HP. Of course, they didn't mention that until it was done and approved (I should've asked first). 

In any event, I now have the room needed to keep me around that 10% utilization. But was an HP from Synch worth it? Or did I get greedy and outsmart myself on this one? 

I guess my only concern is that I am now looking "desperate" for big credit lines. Specifically, I worry about Amex freaking out. Should I be concerned? 

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No need to worry.  Amex isn't going to freak out over a $2K CLI.

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Thanks Irish80! 

Yeah I suppose I was just concerned that between the recent inquiries I've had that Amex (or any other bank for that matter) would get worried. 

[Anonymous]

Opening new accounts and having a hire number of inquiries is heavily overshadowed by income, payment history and utilization.

After auto loan shopping two times and trying to get some prime credit established over 15 months, I have about 40 inquiries on each bureau, at least half of which are auto loan inquiries.

In that 15 months I've gotten 17 new accounts, for about $50,000 in credit, including a QS Visa Sig at $5k, a Venture at $10k, an Amex Platinum and Delta Gold, Barclays Rewards, Discover IT, US Bank Plat, plus a slurry of different store cards as well as a $40,000 auto loan.

Since my income is over $150k/year, none of this is an issue and I dont think it will be to the banks either.

Sure everyone has their horror stories, but the $10,000 of spend per month and PIF I've been putting on my Amex Platinum, I'd be hardpressed for them to actually do anything.

[SOGGIE]

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@Anonymous wrote:

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@Anonymous wrote:

Hey folks, 

Here's my situation. I am trying to stay between 10-12% utilization on all my cards (until I can get it lower obviously), but I will have some things coming up that I will have to use my cards for in the next month or two. In anticipation of this, I did SPs for my Amex, Discover, and Citi and got some nice increases (8.4k in total). Today, I decided to ask for a CLI on my Synchrony CarCare One card and got a 2k increase. But, in order to get that increase, I had to do a HP. Of course, they didn't mention that until it was done and approved (I should've asked first). 

In any event, I now have the room needed to keep me around that 10% utilization. But was an HP from Synch worth it? Or did I get greedy and outsmart myself on this one? 

I guess my only concern is that I am now looking "desperate" for big credit lines. Specifically, I worry about Amex freaking out. Should I be concerned? 

---

No need to worry.  Amex isn't going to freak out over a $2K CLI.

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+1...and congrats on the increases!