Toyota Visa CLI Denied

[Creditaddict]

I feel like I have said this before! lol  Crossed over the 1 year mark, which they have been telling me was when I would be eligible for CLI.

Letter states:

1.Recent account payment history does not warrant your request.

2. Your account credit line is at the maximum amount you qualify for and are allowed by issuer policy

Well I don't get 1 at all, current CL is $1300 and I have put over 12k through the account in the last 10 months ending Dec. (I actually went online and got the summary of the year), I pay in full and usually pay multiple times a month so it doesn't report high util to credit.

I'll update tomorrow after I speak to underwriter.

[Red1Blue]

I am sorry to hear that. I think what ever it takes, you should go after nfcu and establish your self with them. They seem to be very generous and liberal. Push your relation with them.

[Karatz]

Just a quick thought too, check who underwrites your card. Do you have another card underwritten by the same company? For example, I have 2 cards underwritten by FIA Card services. They look at both cards when I talk to them about anything...

[Creditaddict]

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@Karatz wrote:

Just a quick thought too, check who underwrites your card. Do you have another card underwritten by the same company? For example, I have 2 cards underwritten by FIA Card services. They look at both cards when I talk to them about anything...

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It use to be underwritten by USBank... I'm told now though they do it themselves... Toyota National Bank

[Anonymous]

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@Creditaddict wrote:

I feel like I have said this before! lol  Crossed over the 1 year mark, which they have been telling me was when I would be eligible for CLI.

Letter states:

1.Recent account payment history does not warrant your request.

2. Your account credit line is at the maximum amount you qualify for and are allowed by issuer policy

Well I don't get 1 at all, current CL is $1300 and I have put over 12k through the account in the last 10 months ending Dec. (I actually went online and got the summary of the year), I pay in full and usually pay multiple times a month so it doesn't report high util to credit.

I'll update tomorrow after I speak to underwriter.

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I wonder if #1 means that your average monthly spending is less than your credit line, at $1200/month, and that your practice of paying it off several times per month keeps your current credit line available for use. Hence, a CLI isn't necessary. Not that I'm suggesting that you spend more money for the sake of getting a credit line increase, but I'm just wondering if your average monthly spending was more than your current credit line if you'd have gotten that reason?

[Creditaddict]

Spoke with a fairly nice women this morning who told me that I had 2 months of interest charges... I explained that I always pay it off, the second payment just came a week after due date.  She said this account has to be paid in full with no interest being charged each month for 12 months before it would be considered for a CLI.

I said I don't understand, this is a credit card not a charge card.  She simply said this card program for the Toyota requires PIF.

SOCK DRAWER for a bit now!

[crosbyk1]

I would have had to ask does anyone ever get CLI. Most people are not like the people on this board and do revolve a balance from time to time. You would think as a bank they would like to make little more money from the interest.

[Red1Blue]

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@Creditaddict wrote:

Spoke with a fairly nice women this morning who told me that I had 2 months of interest charges... I explained that I always pay it off, the second payment just came a week after due date.  She said this account has to be paid in full with no interest being charged each month for 12 months before it would be considered for a CLI.

I said I don't understand, this is a credit card not a charge card.  She simply said this card program for the Toyota requires PIF.

SOCK DRAWER for a bit now!

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 Is it a net 30 card? I thought it is a revloving card. Why it has to be paid in full?

[DI]

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@crosbyk1 wrote:

I would have had to ask does anyone ever get CLI. Most people are not like the people on this board and do revolve a balance from time to time. You would think as a bank they would like to make little more money from the interest.

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They make enough from merchants and those who mismanage their card  to not rely on interest from cardholders. 

[Creditaddict]

It is a revolving card and if they want to treat it like a charge card they should say so... then I would have.