Well Chase hates me, its official. No CLI after 6th statement today.

[Jpmack29]

I'm on my 12th statement and also have current auto loans through them at high amounts. Perfect payment history and good profile, nothing. Not worth a hard pull, I stopped running the normal 200-300 a month through it and and only put like $5 until a cycle comes I could benefit from. Mostly my Amex and discover get heavy usage. Like someone else said, don't take credit personally. I reality they don't owe any of us anything at all- it was not our money to start with.... I don't know why people get bent out of shape when they don't get a cli? 

[vanillabean]

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@Jpmack29 wrote:

I don't know why people get bent out of shape when they don't get a cli? 

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Because they need it? Maybe they need a higher CLI and a lower APR due to a low cash flow. And maybe they can't get that because the credit card company thinks their income is not high enough. So we go 'round and 'round. It's a catch-22. If only we could adapt a minimal life style long enough to get the stability going...

[Anonymous]

Yeahhhhhh Chase is a hard nugget to figure out.

when I got approved, I was happy with my limit... I did ask Amex for a CL (I requested an increase of 18k to xxk, which is less than 3x but only because 18 is a lucky # for me) and had discover bump me up a few k just for the heck of it.

I guess csp saw that and so I just saw a 2k auto cli on the csp. Unexpected but it's nice... Card was approved in end of 08, maybe 09...I forget.

I did put a lot through the csp though, to meet the 4K spending in first month...

[Jpmack29]

To each their own? I would rather work overtime or so either option for a real cash flow then rely on a credit card company to give me a cli... 

[Gmood1]

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@Jpmack29 wrote:

To each their own? I would rather work overtime or so either option for a real cash flow then rely on a credit card company to give me a cli... 

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Scratching my head at this..what does working over time have to do with wanting or requesting a CLI? I believe most of us want CLI's for padding. This also prevents having to micro-manage our payments to keep util down. Everyone's situation is different. What works for one..doesn't work for everyone. I like using my CC's to pay every monthly bill I have if possible. I can't do that on a $5K card without killing my scores. I'll be requesting a CLI on every card I own until I see fit not to. And for the ones that don't give CLI's ..there's always the SD. I give my business to the companies that grow with me.

[vanillabean]

Once the billing cycle has completed, the statement lists what you owe. If you pay by the due date, you don’t pay interest, but it’s still debt. If every month you’re paying for last month, there is zero flexibility.

It all happened a long time because you one initial month didn’t pay before the statement date, and since then you have been paying the same every month just as if you were paying for this month, assuming uniform expenses over time.

Paying during the billing cycle on the other hand offers you the chance to pay several times to bring down the balance to stay within your credit limit. It is that simple, unless you have a single charge exceeding the limit.

You can also think of it this way. If you have made a habit of stretching your finances to pay by the monthly due date, how can you ever afford more debt from a higher credit limit?

The question is this. How do you feel about debt? If you don’t view charges on your card as debt until the due date, then things are less likely to change.

[takeshi74]

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@Anonymous wrote:

Well Chase hates me, its official. No CLI after 6th statement today.

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No creditor simply hands out CLI's in exchange for time.  And not getting a CLI in X time doesn't mean that a creditor hates you.  It's not about hate or love.  It's all about risk assessment based on your credit profile.  You don't qualify for a CLI with Chase.  That's all it means.

I've never received one myself but I have 4 Chase cards and I've hit my internal limit so there's no headroom for a CLI.  That doesn't mean that Chase doesn't like my credit profile.  It just means that I've hit the limit of what they're willing to extend for my credit profile.  If my profile significantly improves then that can change.

On the other hand, my wife has received multiple auto CLI's from Chase.

Don't simply expect a CLI in a given timeframe for any creditor.

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@Anonymous wrote:

Took me 3 tries to get my freedom, got approved with scores over 750 across the board. Finally got it and they give me $1k, lowest interest rate. This is what i didnt want to happen.

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The low interest rate is a good sign but your low limit does indicate concerns with your credit profile.

If it took you 3 times that was a sign in and of itself.  You really should have looked at the concerns in the denial letters the first 2 times and used that as a starting point to work on your credit profile.  Trying again and again doesn't improve your credit profile for meeting a given creidtor's underwriting requirements by itself.

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@Anonymous wrote:

I PIF every month too. I just paid my bill. If i dont get a CLI after it clears im going to get the feeling im pretty much screwed. 

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PIF'ing is good but it isn't going to determine whether you qualify for a CLI on its own.  Your entire credit profile and your income matter.

[Gmood1]

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@Anonymous-own-fico wrote:

Once the billing cycle has completed, the statement lists what you owe. If you pay by the due date, you don’t pay interest, but it’s still debt. If every month you’re paying for last month, there is zero flexibility.

It all happened a long time because you one initial month didn’t pay before the statement date, and since then you have been paying the same every month just as if you were paying for this month, assuming uniform expenses over time.

Paying during the billing cycle on the other hand offers you the chance to pay several times to bring down the balance to stay within your credit limit. It is that simple, unless you have a single charge exceeding the limit.

You can also think of it this way. If you have made a habit of stretching your finances to pay by the monthly due date, how can you ever afford more debt from a higher credit limit?

The question is this. How do you feel about debt? If you don’t view charges on your card as debt until the due date, then things are less likely to change.

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Thanks for your input, though you're preaching to the choir on this one. lol

There's a method too my madness as to how I pay my CC bills. I never buy what I already can't pay for in cash besides my home.

I've done as you stated in the past. That is paying several times a month. Honestly more trouble than it's worth too me.

I'd rather have credit limits that sustain my monthly expenses until I pay them on the due date or before. Doesn't matter to me whether they report or not.

As long as my utilization stays in that 1 to 9% range. I hate debt, but it's a necessary evil for most of us.

I stay well ahead of what I owe on CC's verses what I can pay. I've worked hard to make sure I live nearly two years ahead of my mortgage and car payment.

Meaning I keep enough cash available(not 401K) to pay them both for that length of time, if I have to. 

I make more money off interest from the banks holding my funds, by allowing the CC bills to get paid on or just before the due date.

Every penny more they give me is a penny earned in my play book.

[uswala]

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@Jpmack29 wrote:

To each their own? I would rather work overtime or so either option for a real cash flow then rely on a credit card company to give me a cli... 

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Well, I usually have a certain range of spent put on my credit cards. It was almost the same when I had 2-3 cards and it is similar when I have ~21 cards at hand. Still I constantly seek CLIs. For example, I rarely use my FNBO AMEX which I mainly got for free EX FICO scores.I think max I would have put on that card was $20-30 and it had $5900 CL> I still called them and asked them if they had any SP CLI offer for me. They said they can bump me up with another $5000 and I gladly accepted that

Reason for all this is that I have seen my scores jumping with more CL I have available as that reduces my utilization. Simple.

[vanillabean]

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@uswala wrote:

Reason for all this is that I have seen my scores jumping with more CL I have available as that reduces my utilization. Simple.

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Why don't you just reduce your balances instead?