Should I try for a CLI?

[rggarrison]

Hey y'all.

I'm wondering if I should request a CLI.  Here is a brief synopsis:

I was approved for Citi Thank You and Citi Simplicity in February 2013.  Both cards have $1000 Limit.  Both were approved with a SP and I've kept a balance on them both since the APR is still 0% (utili down now on both cards to approx. 10%...was as high as 40-50% a few months ago).

I was also recently approved (July 2013) for BoA Cash Rewards (another $1000 Limit).  It was a HP.

I requested a CLI on my Capital One card in May and was denied (limit is $750)--I'm thinking because I don't use the card much.  That was a SP.

When I was approved for the BoA card in July, my Credit Score was 717.

SO, should I request a CLI from Citi on just one or both of the cards?  It's been 6 months--should I wait longer?

Should I try again for a Capital One increase?  I have been using it a little bit more the past couple of months (keeping the util between 5-9%).

How much should I ask for or is that something the bank decides?

Any advice or suggestions are appreciated.  Thanks so much!

[dddewdrop]

   If you do decide to apply for a cli, before you do I would maximise your chances. To do this, pay all your card but one down to zero. Leave one at like 1 or 2 dollars. Let them all report. Then try. As far as carrying balances, credit card are not usually more likely to give you clis because you carried a balance. In fact they probably would be le likely to give clis if you are carrying balances for a long time. Think about it. These people are loaning you money. The quicker you have ehistorically paid back money that others lent to you in the past, the better of a risk you are to them. A lot of these cards make most of their money on fees they charge retailers for swiping your card not interest because you carry a large balancce. Good luck.

[dddewdrop]

capital one doesnt really give that many clis compared with other companies. I mean many get one at the end of the first 6 months that is larger than their credit steps program had promised but as a whole capital one can be tight with clis

[rggarrison]

So, I need to make sure that I have NO balances for a month or two before I try for the CLI?

Anybody else have any advice?  

[missjae]

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@rggarrison wrote:

SO, should I request a CLI from Citi on just one or both of the cards?  It's been 6 months--should I wait longer?

Should I try again for a Capital One increase?  I have been using it a little bit more the past couple of months (keeping the util between 5-9%).

How much should I ask for or is that something the bank decides?

Any advice or suggestions are appreciated.  Thanks so much!

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If you want to request a CLI, I would go for it.  If you request it online, it will ask for your income and say something like "You authorize Citibank N.A. to check your credit history".  There may be an HP involved.  Not 100% sure though.  You could also call and ask.  Like the other poster said, just make sure your utilization is down.  

Good luck and if you decide to go for it, please post your results.

[mikey78]

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@rggarrison wrote:

Hey y'all.

I'm wondering if I should request a CLI.  Here is a brief synopsis:

I was approved for Citi Thank You and Citi Simplicity in February 2013.  Both cards have $1000 Limit.  Both were approved with a SP and I've kept a balance on them both since the APR is still 0% (utili down now on both cards to approx. 10%...was as high as 40-50% a few months ago).

I was also recently approved (July 2013) for BoA Cash Rewards (another $1000 Limit).  It was a HP.

I requested a CLI on my Capital One card in May and was denied (limit is $750)--I'm thinking because I don't use the card much.  That was a SP. how long did you have acct w/ cap1? contact EO office they will be better suited to handle your CLI

When I was approved for the BoA card in July, my Credit Score was 717.

SO, should I request a CLI from Citi on just one or both of the cards?  It's been 6 months--should I wait longer? Citi CLI may require HP but if the CLI is approved then it could be worth it

Should I try again for a Capital One increase?  I have been using it a little bit more the past couple of months (keeping the util between 5-9%).

How much should I ask for or is that something the bank decides?Capital One EO will ask you how much CLI you are seeking and later will ask you if you will be willing to settle for less assuming that the underwriter for CLI will not be able to give you the full CLI this is where you can say yes or no

Any advice or suggestions are appreciated.  Thanks so much!

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