Credit Cards Center Credit cards from our partners
Reply
Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Toyota Visa CLI Denied

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.

Super Contributor
Posts: 6,028
Registered: ‎09-18-2007
0

Re: Toyota Visa CLI Denied

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.

Frequent Contributor
Posts: 318
Registered: ‎09-25-2008
0

Re: Toyota Visa CLI Denied

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...

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Re: Toyota Visa CLI Denied

 


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...


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

 

Moderator Emerita
Posts: 3,090
Registered: ‎08-09-2008
0

Re: Toyota Visa CLI Denied


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.


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?

-------------------------------------------


Friendly, Supportive & Respectful


Understanding Your FICO Score  |  Credit Scoring 101  |  Common Abbreviations  |  FTC: FCRA Links  |  FTC: FDCPA Links  |  Opt-Out  |  State Resources


"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli

Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Re: Toyota Visa CLI Denied... UPDATE

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!

Frequent Contributor
Posts: 485
Registered: ‎02-17-2008
0

Re: Toyota Visa CLI Denied... UPDATE

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.


Starting Score: 744
Current Score: 744
Goal Score: 800


Take the FICO Fitness Challenge
Super Contributor
Posts: 6,028
Registered: ‎09-18-2007
0

Re: Toyota Visa CLI Denied... UPDATE


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!


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

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: Toyota Visa CLI Denied... UPDATE


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.


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

Epic Contributor
Posts: 28,677
Registered: ‎10-23-2007
0

Re: Toyota Visa CLI Denied... UPDATE

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

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.