What's a good time to ask for a CLI?

[TimeLBK]

For instance, my Lowe's has a $500 limit, it's at $280 right now-from $480. Should I get that down to under 30% or even lower than that before asking?

[Anonymous]

Hi there!  I am new to this board so you need to take what I say with a grain of salt.  I've had Costco AMEX for 3 mos. now and currently reported CU of 45% even though it will  be <10% at next report.  Myself, I am waiting for the 6 mos. mark to ask for a CLI increase. Current CL is $800 which seems low to me but I don' know if asking online will result in a hard pull.  I am saving those to get new bank cards, not store cards.

[Boragard]

I usually just hit the luv button every 3 months from every card company that does a SP CLI.

[Anonymous]

I have had my Chase Freedom since Sept 2014 with a $1,000 limit made my payments on time. Six months with card asked for a increase today and was approved for a total of $3,500. I've been trying to rebuild my credit and it seems to be working. Hope that helps

[Anonymous]

Everyday of the week. Seriously though... 

[Anonymous]

I would think the best time would be when you have been making a great deal of use of the card, have run up balances near your limit a few times, but consistently paid them off in full each month when the statement cut. To a human underwriter that would look like somebody who is spending money responsibly, and would probably spend more if they had more limit. 

However it's mostly going to be evaluated by a computer and who knows -- depends how it was programmed. It might just look at whether you pay on time and how good your score is and nothing more. 

In general though you would want a combination of active use of the card and a low utilization or regular in-full payment.

[Anonymous]

---

@TimeLBK wrote:

For instance, my Lowe's has a $500 limit, it's at $280 right now-from $480. Should I get that down to under 30% or even lower than that before asking?

---

Pay it off and then call automated line and ask for $25,000.

[takeshi74]

---

@TimeLBK wrote:

For instance, my Lowe's has a $500 limit, it's at $280 right now-from $480. Should I get that down to under 30% or even lower than that before asking?

---

CLI's are based on credit and income.  A good time to ask is when your credit improves.  A lower balance can help but it's not likely to make or break your CLI on its own.  Your entire credit profile matters.

---

@Anonymous wrote:

Hi there!  I am new to this board so you need to take what I say with a grain of salt.  I've had Costco AMEX for 3 mos. now and currently reported CU of 45% even though it will  be <10% at next report.  Myself, I am waiting for the 6 mos. mark to ask for a CLI increase. Current CL is $800 which seems low to me but I don' know if asking online will result in a hard pull.

---

Read the 3x CLI guide if you have not.  It's a soft pull.