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Established Contributor
masscredit
Posts: 704
Registered: ‎07-17-2012
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If Denied For A CLI, How Long Should You Wait?

If your denied for a CLI, how long should you wait until you try again? Any harm trying every month if it's not going to be a HP?

 

 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Valued Contributor
p-
Posts: 2,612
Registered: ‎06-05-2008
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Re: If Denied For A CLI, How Long Should You Wait?


masscredit wrote:

If your denied for a CLI, how long should you wait until you try again? Any harm trying every month if it's not going to be a HP?

 

 


Depends on the card.  If there is reasonable justification for the increase, you should recon with a credit analyst if possible.  There are lots of numbers listed on the backdoor thread sticky in the credit card board.  What card is it?

  8-12-14: FICO EXP: 797 - EQU: 734 - TRAN: 739 - AVG: 757 - +207 points from JUN 2008 - MY CREDIT JOURNAL

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Revelate
Posts: 8,897
Registered: ‎12-30-2011
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Re: If Denied For A CLI, How Long Should You Wait?

[ Edited ]

masscredit wrote:

If your denied for a CLI, how long should you wait until you try again? Any harm trying every month if it's not going to be a HP?

 

 


The lender will have a record of every time you request.  I would suggest that you'd likely be doing yourself a disservice by approaching it like this and may well sort yourself into the outbasket by doing so.  Constantly seeking a CLI doesn't strike me, and likely lenders as well, as a nice, stable customer.  

 

I think six months is reasonable for any lender, though each individual one will likely have different policies (GE likely shorter as an example).  Others will undoubtedly have better information for you regarding that, which lender in particular are you interested in?

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
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Re: If Denied For A CLI, How Long Should You Wait?

If I deem myself eligible based on current scores, dti, other credit limits, util, aaoa... I'll try monthly until I get it...

 

with Barclay's.... they don't like you to request clis a lot.... they threatened HP with me a couple of times haha... but I did get an auto cli finally within a month or so.

 

 

Be aware of what's in your report.. if you have high util one month or open a bunch of new accounts, I'd avoid requesting a cli with any creditor... otherwise, if your stats are in line, it never hurts to ask! :-)

Obviously, you want to be reasonable and prudent as well!

Good luck!

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Established Contributor
masscredit
Posts: 704
Registered: ‎07-17-2012
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Re: If Denied For A CLI, How Long Should You Wait?

The one that I have in mind is Walmart. The denial letter that I received listed -

 

Serious delinquency  and public record or collection filed

Time since derogatory public record or collection is to short

Length of time revolving accounts have been established

Proportion of loan balances to loan amounts is to high

 

My BK was discharged in Feb of '10.  Nothing bad after that, utilization was in the low to mid 20% range when I called underwritting to request an increase and they list my TU score to be at 655 that day (12/13/12). Besides the BK, the only thing on there is a few tax liens that won't be going anywhere.

 

I was surprized that I was denied because I PIF most months and received a lot of new credit during my spree in August. I did get an auto increase from $600. to $700. after two months. I called underwritting after four months of having the card.

 

Tried the love button when JCP cut my 4th statement last week. No love there. Might try calling for that one but seeing that it's also GE, maybe I should wait? 


|****$6000****|****$6000*****|****$4500*****|****$2500****|****$1600****|****$3000****|******$750******|*****$700*****|
EX - 651 (MyFico 06/05/14) TU - 662 (Barclay 08/05/14 ) EQ 04 - 699 (DCU -07/26/14) EQ 08 - 686 (MyFico -08/09/14)
Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: If Denied For A CLI, How Long Should You Wait?

Perhaps, you just need to get your score a little higher....

 

if underwriting denies you... then it is a no go. lol

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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