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Established Member
jpschroe37
Posts: 17
Registered: ‎03-08-2013
0

Should I wait or ask now for CLI?

Newbie here, so bear with me. I haven't had a CLI on my Chase freedom ($1,500 CL) or Capital One ($1,750 CL) Platinum for over a year, so I was thinking of letting them do a hard pull on my account to get the CLI. Now, I have a bad mark on my credit report for a collection that is due to come off my credit report in May of this year. I also just took out a $10k auto loan last week for a new car (no payments made on the loan yet). My history is relatively new. The CapOne is my oldest card at 3 years. But the credit score for my auto loan was 781 out of 880 on equifax and I got  a 2.99% rate for a used car (to me that signals good credit). Heck, I even got a new job with a 10,000 raise last year. I pay off the Credit card each month in full haven't missed payments with them. And the usage is around 30% usually. Should I let them do a hard pull now, or wait till after May? Is there any alternative to having them do a hard pull? Also, should I concern myself with hard pulls on my credit report (from the loan and possible CLI... I don't anticipage more anytime soon)? I am just confused and frustrated with the low credit limits. Would like an increase to have something where my usage shows under 20% for when I look to buy a house. Thanks for the help. 

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09Lexie
Posts: 26,269
Registered: ‎09-13-2012
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Re: Should I wait or ask now for CLI?

Valued Contributor
jamesdwi
Posts: 1,947
Registered: ‎09-16-2011
0

Re: Should I wait or ask now for CLI?

Its quite possible you will need to go through the Executive Office, see recent posts,  to get CLI on the CapOne card, the number on the back of your card 99% of the time will result in no change in credit limit.  If you contact Execute Office it will most likely be a soft pull, and a CLI.  Chase will be a HP but you have a very good chance, for an excellent chance wait till may when the baddie falls off and possibly pay down some of the debt or at least time it so you are below 20% perferably under 10%. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Established Contributor
swpopham
Posts: 554
Registered: ‎06-02-2012
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Re: Should I wait or ask now for CLI?

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

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Senior Contributor
myjourney
Posts: 26,656
Registered: ‎02-07-2013
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Re: Should I wait or ask now for CLI?

Welcome welcome welcome to the forum:smileyhappy:

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Should I wait or ask now for CLI?


swpopham wrote:

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex


I agree with this.

 

When the account falls off try Cap1 EO for the CLI.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Valued Contributor
p-
Posts: 2,634
Registered: ‎06-05-2008
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Re: Should I wait or ask now for CLI?


LS2982 wrote:

swpopham wrote:

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex


I agree with this.

 

When the account falls off try Cap1 EO for the CLI.

 


Here's the Cap1 EO info:  http://ficoforums.myfico.com/t5/Credit-Cards/How-to-get-a-PC-or-CLI-from-Capital-One/td-p/1690104

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

Established Member
jpschroe37
Posts: 17
Registered: ‎03-08-2013
0

Re: Should I wait or ask now for CLI?

Appreciate the knowledge, all. Thanks.

Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Should I wait or ask now for CLI?

Is the collection affecting your fico much?
Know what your fico is?
If your income is sufficient and your fico is 660+, I'd go ahead and send the EO of C1 an email. Expect them to counter; if you want $5k, ask for $10k.
And I'd wait til May for the Chase cli request.
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 $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Member
JRS123
Posts: 26
Registered: ‎03-07-2013
0

Re: Should I wait or ask now for CLI?

+1
U seem to be doing good and last thing u want to do is getting denied
Good luck
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