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Regular Contributor
Posts: 224
Registered: ‎08-03-2010
0

Gardening for 2 years - Time for CLIs/Upgrade?

Thanks everyone for looking at my post, I've used this forum before to help me get out of debt and establish amazing credit with everyone's help!

Here's a little piece of my history:

I've been gardening my credit and learning to become more practical with how I spend, especially after being on the Suze Orman show. I think maybe now is the time for requesting credit line increases to help with my credit to debt ratio plus possibly treating myself in the future for being 'good'?

Questions/Concerns:

I. What I'm concerned about is not knowing how much to request CLI's for on my accounts or what to expect? Some of these lenders I've heard do hard pulls and want to know which creditors would be worth trying above any others?

II. Am I heading towards a good path with my credit so far?

III. Instead of requesting a CLI that will cause a hard pull, should I just apply for new credit?

IV. Any tips or help would be greatly appreciated!

My Credit Report: (First card at 18, now I'm 22)

AAoA: 3 years

UTI: 45%

Scores (Unofficial from Citi Identity):
EQ: 701
EX: 710
TU: 716

** - All credit card accounts have been paid off or have balances less than <$100

American Express ZYNC - 2.5 years - Applying for Mercedes Benz Platinum (Rep. on phone said I have an invitation for regular platinum)

Bank of America Cash Rewards** - 2.5 years - $2K limit (Request credit line option available online)

Chase** - 2.5 years - $3,000

Discover** - 2 years - $1,700

Discover** - 2 years - $1,200

Nordstrom** - 4 years - $3,500 (Would love to upgrade to VISA which is automatically raised to $5K)

Wal-Mart** - 2.5 years - $2,500

Wells Fargo** - 2.5 years - $2,200

2 Capital One accounts** - 4 years - $1,500 total

LOANS:

Student Loan - 4 years - $3,500 paid down to $3,000

Personal Loan - $15,000 - 6 months (Loan paid off in 4 years)

Does anyone believe I will get a CLI on some of my accounts to help with the UTI rate?

I don't plan to spend/splurge till my birthday next year in April, but would like to build my credit even more solid, I would appreciate any help/tips I can get.

Thank you all again!!

- Greg
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?



Call Credit Solutions and ask for a CLI. Ask for at least 3x the current CL. -ask for CLI every 4th statement
Call Nordstrom or better go in and ask for a CLI, APR reduction and the upgrade to Signature-ask every 6 mos
Call Discover and ask for CLI , APR reduction- may or may not be a sp -ask every 6 mos
Same with BoA, Chase and WF-ask every 6 mos.

Email Cap 1 and ask for the CLI, APR reduction and if there are AFs ask for them to be waived.
Epic Contributor
Posts: 24,664
Registered: ‎10-23-2007
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?

[ Edited ]

errr... sorry got ahead of myself....

 

1.  I'm with Lexie... start with GE - they are a soft pull and you can do it over the phone and ask for a LOT!! like extreme lot and they will counter... i say like $10k if not $15k.

2.  Nordstrom... I would just call and do it over the phone... ask for upgrade, CLI to $10k and APR to Tier 1. take the HP it will be okay.

3.  E-mail Capital One Exec. Office - That is also a Soft Pull... tell them you would like your 2 cards converted... 1 to Venture, 1 to quicksilver and you decide before they call rather you will use enough to pay AF for more reward or no AF or just see what they offer with no AF. ask for the limits to be increased to $10k on each and APR's reduced. (they will counter)

4. Ask Discover for CLI via SP... might be worth to take a HP for them though and convert to "it" if you don't have it already and ask them to up to $10k also. they have been known to sometimes come back with just a few hundred or something crazy silly to me... just ask to speak to supervisor and they review...

5. I would ask for increase on Bank of America to $15k. will cost you hp but probably worth it... they will counter if issue.

6. wells and chase are up to you.

Fico Scores: EQ- 670., TU 705 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
88 Cards and Counting :smileytongue:
Regular Contributor
Posts: 224
Registered: ‎08-03-2010
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?

Thank you both Lexie and Creditaddict for replying!

I. GE is going to be Wal-Mart, correct? They've been friendly and have done automatic increases so I'm hopeful for them!

II. Any tips or things to say when asking for a lower APR? I've tried before and I can negotiate deals everywhere else in life except for my credit I feel like. :smileysad: All my accounts can really use a reduction of interest rate, they're all currently at 22.99% or higher.

III. Do you happen to have the best email for Capital One? Venture card would be awesome!! Do I just explain my credit worthiness and why I feel I'm the best candidate for the card?

IV. I apologize for sounding ignorant but what do you mean exactly by 'converting to it' if I haven't already?

V. I do plan to leave my Wells Fargo card alone and would give Chase a shot for both an APR reduction and CLI.

Also is it recommended to ask for both a better interest rate and CLI at the same time?

Thanks so much!!
Epic Contributor
Posts: 24,664
Registered: ‎10-23-2007
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?

ill private now... give me couple.

Fico Scores: EQ- 670., TU 705 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
88 Cards and Counting :smileytongue:
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?

1. Yes, GE is WalMart. Call this number 877-379-8173. Doubt they will entertain APR reduction. Ask for a high number, they will usually counter
2. When asking for a CLI, ask if there are any offers to upgrade and/or reduce your APR. so e times, they will do a temp reduction. Simple- you can go on and say how much you really like their cc etc.
3. CreditAddict is on this already
4 Discover has the More and the IT cc. The IT is their new cc and you can do a PC - no Hp
Finally, yes, do it all at once, CLI, APR, PC - remember, all they can say is no. :smileywink:
Valued Contributor
Posts: 1,552
Registered: ‎11-10-2012
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?


09Lexie wrote:


Call Credit Solutions and ask for a CLI. Ask for at least 3x the current CL. -ask for CLI every 4th statement
Call Nordstrom or better go in and ask for a CLI, APR reduction and the upgrade to Signature-ask every 6 mos
Call Discover and ask for CLI , APR reduction- may or may not be a sp -ask every 6 mos
Same with BoA, Chase and WF-ask every 6 mos.

Email Cap 1 and ask for the CLI, APR reduction and if there are AFs ask for them to be waived.

+1

 photo Logo - Credit Card Collection - Data Inclusive_zpsn7s31edo.jpg
Frequent Contributor
Posts: 351
Registered: ‎01-07-2012
0

Re: Gardening for 2 years - Time for CLIs/Upgrade?


grigorexxxcore wrote:


Questions/Concerns:

I. What I'm concerned about is not knowing how much to request CLI's for on my accounts or what to expect? Some of these lenders I've heard do hard pulls and want to know which creditors would be worth trying above any others?

II. Am I heading towards a good path with my credit so far?

III. Instead of requesting a CLI that will cause a hard pull, should I just apply for new credit?

IV. Any tips or help would be greatly appreciated!

My Credit Report: (First card at 18, now I'm 22)

AAoA: 3 years

UTI: 45%

Scores (Unofficial from Citi Identity):
EQ: 701
EX: 710
TU: 716

** - All credit card accounts have been paid off or have balances less than <$100

American Express ZYNC - 2.5 years - Applying for Mercedes Benz Platinum (Rep. on phone said I have an invitation for regular platinum)

Bank of America Cash Rewards** - 2.5 years - $2K limit (Request credit line option available online)

Chase** - 2.5 years - $3,000

Discover** - 2 years - $1,700

Discover** - 2 years - $1,200

Nordstrom** - 4 years - $3,500 (Would love to upgrade to VISA which is automatically raised to $5K)

Wal-Mart** - 2.5 years - $2,500

Wells Fargo** - 2.5 years - $2,200

2 Capital One accounts** - 4 years - $1,500 total

LOANS:

Student Loan - 4 years - $3,500 paid down to $3,000

Personal Loan - $15,000 - 6 months (Loan paid off in 4 years)



If all the credit cards are paid off - how are you at 45% UT?  Are you including your installment loans in that?


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