Reply
Contributor
Posts: 92
Registered: ‎06-05-2009
0

Re: How does PIF weekly affect my chances in getting Auto-CLI?

I agree with above 

NFCU Flagship Rewards Visa Signature $5,000
NFCU NavCheck LOC $10,000
Chase INK Cash $5,000
Chase Freedom $1,500
Bank of America Cash reward 123 $5,000
Barclays Arrival World MC $3,000
Regular Contributor
Posts: 116
Registered: ‎12-29-2008
0

Re: How does PIF weekly affect my chances in getting Auto-CLI?


Revelate wrote:

Pworld wrote:

But, what if.....

 

You have a limit from $500-1500 and need to pay a few times a month due to heavy activity?

 

I do this weekly on my $500 limit chase freedom, which i use the most because of the %5 and 1% opposed to a higer limit discover i have with %5 and .025%. I hope that they see quickly that i need more of a limit and run a lot of consistent activity through it. 


In this case, fully using one's limit and paying it multiple times a month is a good strategy for getting a CLI on the individual card or lender (in this case Chase).  Other lenders may not see that though for their underwriting criteria; however, Chase in this scenario will have upsides in increasing your limit and you have a reasonable request in raising it too with  your heavy utilization.

 

If this is the card / lender you wish to grow a relationship with, this strategy is nothing but goodness in my opinion... it's a completely different scenario though than using the weekly payment to never let your card go above 10% utilization.  Personally I would still let one of those near max limits report so other lenders can see that at least you're using the $500 CL, and it's a discussion point for higher limits from them on other approvals if you can explain your spending habits during a recon / manual review.

 

Edit: it's not all about scores Smiley Happy.  Spend is a non-trivial factor in obtaining CL's from many lenders.

 

Great Reply!! thank you. I am trying to get higher limits at this point, not so much more cards. And even using up the $500 and paying down a few times a month, my util isnt going to skyrocket because i have 2500 of total credit i really never use, and if i do its PIF

 

2/2011=EQ: 590
11/2012=EQ: 683 (after 4 card app spree and reporting)
10/2013=EQ: 708 (reached my goal!! for 2013) EX(amex): 668 TU(Disc):680
Goal = 725 by 6/2014
Amex Zync/NPSL | Amex Green/NPSL | AMEX BCP/15k | Chase Freedom/2.2K | Best Buy/800 | Discover IT/6.4K | Citi HHonors Reserve/3K | Chase Hyatt/5k | Sapphire Preffered/9K
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.