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Mega Contributor
Creditaddict
Posts: 18,976
Registered: ‎10-23-2007

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.

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007

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
Karatz
Posts: 318
Registered: ‎09-25-2008

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
Mega Contributor
Creditaddict
Posts: 18,976
Registered: ‎10-23-2007

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

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008

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?

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Mega Contributor
Creditaddict
Posts: 18,976
Registered: ‎10-23-2007

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!

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008

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.


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Current Score: 744
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Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007

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
DI
Posts: 5,767
Registered: ‎01-28-2008

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. 

Mega Contributor
Creditaddict
Posts: 18,976
Registered: ‎10-23-2007

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.

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:

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