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New Contributor
emasta
Posts: 54
Registered: ‎07-16-2008

Requested 3 CLI's today

Not much luck.

 

HSBC Plat - "We don't take customer requests.  I will put a note on your account."  (This one used to have a $3400 limit they cut to 1950 for no reason)

 

Juniper - "Let me pull your credit...  Nope.  You need to make more aggressive payments (I guess 3x the minimum due is not aggressive enough) Stays at $900

 

Chase - "Let me pull your credit....  $300 bucks"

 

2/3 are at 0% util.  Chase is at 10%.  Fico score 719.

 

What a waste of time and hard pulls.  :smileysad:

New Contributor
TheArcher
Posts: 72
Registered: ‎04-28-2008

Re: Requested 3 CLI's today

The banks are just terrified of giving CLI's right now. I don't even want to bother trying, especially with my AMEX. I'm afraid they will CLD the crap out of me if I even ask. I keep that thing near zero with PIF every month. I think anything else with AMEX right now will trigger a balance chase and closure. I know that's a slight exaggeration, but why take any chances.

"Those who expect to reap the blessings of freedom, must, like men, undergo the fatigues of supporting it." -Thomas Paine
Valued Member
cabana7
Posts: 42
Registered: ‎11-08-2008

Re: Requested 3 CLI's today

I did the same thing with Chase...they asked for a hard pull my EQ was 731 and was denied...never carry a balance and used the card a lot...so I told them to close the account knowing it might ding my score but it is time to take charge now and stick with the companies that take care of you...Since I almost always pay my balance in full what do I need them for anyway they are making money on me ...There are some people not paying and walking away from their debts but we all should not be lumped into that group...There are still plenty of Banks and credit unions willing to extend you credit and appreciate your business.:smileytongue:
Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: Requested 3 CLI's today

unless you are a big player, an account closure would generally have no significant impact on chase, but it can impact your scores negatively.  

 

of course the choice is yours to make just remember that closing no fee accounts in a knee jerk reaction to a declined cli (during a recession) will be unkind to your fico in most cases.  the SD is your friend. if you haven't read the stickied thread on closing accounts the right way, it is very informative when you are carefully deciding the best strategy to close unwanted accts or just leave them alone and let them continue to build good history.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008

Re: Requested 3 CLI's today


cabana7 wrote:
is time to take charge now and stick with the companies that take care of you...There are still plenty of Banks and credit unions willing to extend you credit and appreciate your business.

I agree with ya 100% cabana.I closed a chase card for the same reason

New Member
3kings
Posts: 7
Registered: ‎05-01-2009

Re: Requested 3 CLI's today


cabana7 wrote:
I did the same thing with Chase...they asked for a hard pull my EQ was 731 and was denied...never carry a balance and used the card a lot...so I told them to close the account knowing it might ding my score but it is time to take charge now and stick with the companies that take care of you...Since I almost always pay my balance in full what do I need them for anyway they are making money on me ...There are some people not paying and walking away from their debts but we all should not be lumped into that group...There are still plenty of Banks and credit unions willing to extend you credit and appreciate your business.:smileytongue:

Well said....:smileywink:.i think everyone should do the same. It's time to take control so these banks will start treating their customers with respect once again.

Contributor
pjohnston2
Posts: 78
Registered: ‎02-18-2009

Re: Requested 3 CLI's today


score_building wrote:   

the SD is your friend.


score_builder, what does 'the SD' mean?
Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: Requested 3 CLI's today

[ Edited ]

pjohnston2 wrote:


score_building wrote:   

the SD is your friend.


score_builder, what does 'the SD' mean?


SD = sock drawer

 

the practice of placing a cc of a 'misbehaving' ccc in a sock drawer, using it v. minimally for an occasional v. small purchase (eg. pack of gum, etc) to prompt the reporting of its good history to your ongoing benefit, without losing your cool.  and essentially barely letting that bad boy see the light of day, not rotating it into a regular use card line up until the issuer becomes more amenable to your wishes. 

 

when the issuer changes their tune (which they always do) you can reevaluate your relationship w/o having to reapp another card and waste another inq.  it's a win-win whereas a hasty closure is just the opposite in many cases.

 

using the SD method of 'protest' can help shift the focus to dealing with issuers as a business endeavor while mitigating the impact of emotional responses that can lead to hasty reactions.

Message Edited by score_building on 05-06-2009 10:43 PM
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: Requested 3 CLI's today

emasta- congrats on the chase increase, in this market any increase is impressive to me esp since millions of accounts are being CLDed.  i don't like chase policy to HP CLIs either :smileymad:  in time your other increases will come, keep up the good work.
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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