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How do you deal with this?

Valued Contributor

How do you deal with this?

Dear ArmbenderC,

 

This letter is in reference to your credit card issued by XXXX Bank

 

We are unable to grant your request for a credit line increase to your account for the following reason(s):

 

*High amount of credit available from other accounts.

 

Consumer Reporting Agency Information

 

Trans Union

 

Credit Score 735

 

Score range from 300 to 850.

 

 

So, um, this mean no future auto CLI or CLI? I have numbers of cards that I no longer need. Should I cancel them? That would free up about 10k in CL.

 

 

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 1 of 6
5 REPLIES
Super Contributor

Re: How do you deal with this?

Call the recon and propose the idea of closing other accounts or moving CL over. If they can't promise you anything over the phone then its best to re-evaluate how much you want a CLI on this card before deciding whether to close the other accounts
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 6
Valued Contributor

Re: How do you deal with this?


enharu wrote:
Call the recon and propose the idea of closing other accounts or moving CL over. If they can't promise you anything over the phone then its best to re-evaluate how much you want a CLI on this card before deciding whether to close the other accounts

Another problem that I forgot to mention is the cards that I am planing to close is OLD.. I mean OLD, from 2008. It has no AF and real reward. I rather keep it open. I might have to wait and let my scores increase and INQs drop and try again.

 

Just as you said. I am not closing anything. I will call them in 6 months and try again I guess.

 

Forgot to mention. This is a SP or I would have a heart attack on a wasted INQ.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 3 of 6
Valued Contributor

Re: How do you deal with this?

Do they have your most recent income information?

They may be basing the decision off of income numbers you provided at application...

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 4 of 6
Valued Contributor

Re: How do you deal with this?

@snacktrader, no I didn't include my rental income that I get. That another 15k, but I feel that I shouldn't have too since I PIF on all my cc.
2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 5 of 6
Highlighted
Super Contributor

Re: How do you deal with this?

What lenders was it?

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 6