How is Elan about CLIs?

[Anonymous]

I don't read too much about Elan here (owned by US Bank), but I have a CC from my local bank that is done through Elan. It's a student card with a $500 SL that I got approved for 7 months ago. I activated it right away but didn't actually make any purchases with it during my first month, so really I have six months of usage with it now.

I had called a CSR three months ago about CLIs, and she said it's a hard pull and that I should wait until six months. Right now I have three pulls on EQ, three on TU, and at least one on EX. I will be applying for a Chase Freedom and Amex BCP sometime in the next couple months, so I don't want to waste inquiries here and make my report look like I'm too desperate.

I have PIF and paid on time every month. No baddies, no issues. Does Elan actually give decent increases, or should I not bother taking the hard pull? I don't want to burn a hard pull for a measly $200 increase or something. Would having a higher limit with an extra inquiry look better to Chase and Amex than my current limit on the card with on less inq? I only have two cards on total, my other being a QS MC that also has a $500 limit. The CapOne CLI is a soft pull and I will be requesting a CLI on that one later this month after my third statement comes out and gets paid.

[Anonymous]

I am also curious about increases from Elan, it is awful that they hard pull for increases! 

I will not be much help sadly.

I have had my card through Elan since July, I have never requested an increase or considered asking for one they gave me $4,800 with 6 months of credit history, I was in shock, to say the least. The fact that they have a minimum amount of points you need before you can cash out your cashback keeps me from using the card.

Personally, I would not waste a hard pull for a credit limit increase but that is probably because I have many cards that do soft pull increases....

I had no clue they were owned by USBank

[mattmyFIC0]

From my understanding elan == us bank. I think they use the same UWs. Anyway, this thread might be helpful even though it is dealing with us bank info: http://ficoforums.myfico.com/t5/Credit-Cards/Question-about-US-Bank-CLI/td-p/4609667

[CreditCuriosity]

Alot of Us Bank/Elan CC's although uncertain about student cards see a SP CLI on the 9th statement.  Something to keep in mind.

[bldmt]

I can second CC's reply. I was approved for the Elan Fidelity Visa back in January. In October, they auto CLI'd me +$2.5K.

CC, question for you. Is this an every 9 month occurence?

[jason86423]

I have two Elan issued cards.  It seems about every 13 months they send a notice on my statements that I'm eligible to increase my CL with no pull.  Just have to enter my current income and it comes back in about 5 seconds with a "congrats" message. 

Like clockwork, its usually about 25% of my current credit line.

One card started off at $500 about 10 years ago, that is now at $13,500

The other card started at $2500 about 6 years ago, that one is now at $17,500

[Anonymous]

Thanks for the info guys. Guess I'll hold off and see if the 7th statement auto CLI happens and go from there. Seems like this card will grow very slowly.

[MugenCivicSi83]

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@bldmt wrote:

I can second CC's reply. I was approved for the Elan Fidelity Visa back in January. In October, they auto CLI'd me +$2.5K.

CC, question for you. Is this an every 9 month occurence?

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woohoo auto CLI! I just got the Elan Fidelity Visa Signature $7.5k SL. so that would be me at 10k in july '17!

[creativeZero7]

I currently have two Elan issued cards through my local bank. A Visa Signature and a Visa Business card both issued in late 2011. Both started out at $7,500 limits and have never grown past that. I get offers now and again to apply for CLI's but have never seen an auto increase. It is an application for additional credit with a hard pull for me.

My experience has been mostly positive with Elan but nothing exciting. My limits were fine when I opened the cards so it doesn't really bother me. I'm not too sure exactly how their relationship goes back to the local banks in the sense that it could be a policy of not to auto CLI for some instituations, etc.