Need opinions on maxing CLI for US Bank

[Anonymous]

Hey guys,

What do you think about my strategy to getting the highest cli possibly for us bank?

I currently have a $300 CL. When it gets to 6 months, I plan on applying for a cli.

What I want to do is just max out the card every month to $300, let it generate my statement, and pay it off each month. (overall util will still be below 1% for fico)

What do you guys think?

[lg8302ch]

IMO there is no need to max out with US Bank. I got my auto CLI from 7K to 10,5K with a Hulu subscription only and time.  I could not use the card I received as I wanted the Cash+ and therefore had to wait to PC and now I have the card I wanted and can use it.  With your profile I would simply recommend NOT to add any more HPs and new accounts as I am sure this is the reason for the low CL.  Just garden and even slow and steady use could bring up your CL with this card.  Keep in mind credit is not a race but a marathon... so patience is the key to success.  11 new accounts in less than a year....sorry but this is crazy and I hope we do not need to read AA some day.

[Anonymous]

Thanks for your concern, but you don't need to remind me about that. (Refer to my post count) I only have 7 HPs from experian which is darn good for 11 cards imo Tu: 4 eq:2 My aaoa is a steady 5+ years after adding all the cards in. My scores are also mid 700s. 

[lg8302ch]

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@Anonymous wrote:

Thanks for your concern, but you don't need to remind me about that. (Refer to my post count) I only have 7 HPs from experian which is darn good for 11 cards imo Tu: 4 eq:2 My aaoa is a steady 5+ years after adding all the cards in. My scores are also mid 700s. 

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Scores alone and AAoA especially when coming from AU card (as it looks you turned 18 in 07/15 from your siggy) are not the only thing looked at... it is the overall picture of your credit file.... a ton of new accounts is high risk behaviour and I am still convinced this is the reason for your 300$ US Bank card because US Bank does manual review on most of their apps.  But whatever you do - Good luck...if you want to continue apping no problem ...everybody is old enough to make own decisions and can live with the consequences thereafter.

[Anonymous]

I already stopped apping after 2015....lol...and I do not plan on spending anymore HPs until something lucrative comes out. 

[Anonymous]

Gotta love how everyone of my threads derail into my own credit profile

[Ghoshida]

(1) Make sure your statement generation is not at the end of the month. That way, you can have a positive number on the statement balance on statement day but zero current balance on the last business day of the month, when it reports to bureaus.

(2) Freeze your credit reports. All 3 main ones. You can freeze the auxiliary ones too but that's secondary. This ensures that no HP will be made when you go for the first CLI (and also keep apps away in between).

(3) On 181 days since card opening, push the online CLI button and ask for $1.5k CLI. This is generally the max they do without a HP. You won't get a decision right away but will see the new CL online within 10 days or receive a decline in the mail around the same time.

If you got the CLI in this process, you would know that the bank has grown to love you. And you won't waste a HP to find that out. Also, the next time, you can go all guns blazing for a bigger CLI. I wouldn't advise it the first time.

For me, CLI decisions were seemingly made using TU Bankcard 04 scores, if that helps.

[Anonymous]

recommended 30% uti for a card; 1-9% ideally for each and across all cards --- that's from what i've read. so your approach of posting 100% uti for one card might be detrimental to your fico score but what do i know, im newb. lolz! hopefully other people can chime in about this.

personally if i really want that card to grow BADLY... here are a couple of extreme measures that i might do.

- i'll start using the card whenever possible (almost a daily driver). MAXING it out (or close to it as possible) and PAYING it however many times DURING the billing cycle. but,,, here's the big BUT - making sure that the utilization is 1-9% when it gets posted to the CRA (statement cut date last business day of the month). *i'll point this out to them when i talked to them about the CLI - that i've been maxing out the limit (coz it's too low) and it's kinda tedious paying it several times over during ONLY one billing cycle. 

- also, i'll start banking with them. if possible, i'll float a good amount of money on their checking and/or savings. at the same time, i'll start using their checking to pay for ALL my credit card bills - perhaps they'd be more inclined to give me more credit/CLI if they see that it could have been them i'm using/paying instead of the other card issuers. *can't hurt to point this out also to them. =p

idk how US banks CLI works but if i don't see any positive changes (CLI, APR reduction, BT offers or the likes) after 3-6 mos of doing the things above, i guess it's not a bank who wants to grow with me. as always, YMMV. goodluck!

[Anonymous]

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@Anonymous wrote:

Thanks for your concern, but you don't need to remind me about that. (Refer to my post count) I only have 7 HPs from experian which is darn good for 11 cards imo Tu: 4 eq:2 My aaoa is a steady 5+ years after adding all the cards in. My scores are also mid 700s. 

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Just curious as to how you got 5 years.

[noobody]

Ghoshida got it right,

I'd go one step further: Call US bank to move statement date to the 25th day of the month, MAX the card out and pay off several time a month, show high utility when statement cut.

Pay it off right way or leave couple dollar on it, so it will report zero or very small usage to CB,

This way, you will not hurt your credit score by high usage.

But like other said, you may not need to use it heavily to get CLI, but it will not hurt either.

I only charge couple hundred dollar on my 5 digs CL card last year, and they offer me SP CLI up to 4.5K twice a year, even with small incentive to apply.

I passed both time, I do not like unnecessary high CL, and like to leave some room for future application.