When to ask for CLIs / Strategies?

[Anonymous]

I've been slowly rebuilding for the past couple of years and I was finally feeling confident enough to apply for new credit.  All of the Initial CLs I received are pretty low so I'm planning on gardening for at least for six months to a year.   I am looking for tips with regards to what these cards may like when looking at accounts for CLIs and when the best time to ask for CLIs on them would be. These were all opened within the past month.

Lowes - Initial CL $300 

Discover - Initial CL $2300 

Bank of America - Initial CL $500 

Amazon - Initial CL $800

My scores are currrent EX 626, EQ623, and TU 645, mostly due to utilization on my old cards.  That will be under 30% in January, probably closer to 20%.

Thanks for any information/suggestions. 

[Anonymous]

 You can call Credit Solutions now and recon that $300 SL on your Lowe's card...mine started with $300 and I asked for $25k ( I told them I was remodeling my kitchen)..they countered with $5000...all before I even received my card. 4 months later I'm at a $17k limit. 

[damac2004]

when people mention calling on phone for cli, are the companies still running the pull on your credit?  i have looked into this recently with my cards and every one i have contacted me told me all sorts of things go into decision including checking credit which could be hard pulls.  i got my last batch of cards before a surgery early 2014 and a couple months ago asked for a few credit increases.  even with new income information, i was using most of the cards almost to maxed amount  and 2 different cards refused a cli so i backed off everything.  i guess their computer saw me as tapped out and didn't like it even though i have no lates, etc.?

i have been spending the last month paying all my stuff off and plan to just use a couple cards for everyday stuff and rewards and will only let one report small balance to help credit scores.  i have paid them all off now but still have one more big account to report and my scores have went up 82 points, hoping for some more

[Anonymous]

everytime i think about apping for a new card, i just log into one of my cc accounts and ask for a CLI instead.

best advice i've heard is to grab credit when you don't need it.

because when you do, most likely you're in a rock and hard place and the creditors know it (and know they have you by the strings).

but it never hurts to ask..........

[Anonymous]

shouldnt be difficult for you to get your util down. Wont matter as much after some CLI's. Get that synchrony amazon and lowes card UP UP UP it will help with your util.

amazon request CLI on chat now, ask for 25k. SP

Lowes have had most success in calling. U can be denied on the phone, but then ask for their UW team and get approved. SP

BOA I dont know, if it were me I would get my scores up a tad more and the util down, hope for a SP cli offer soon, and if not then take the HP in 6 months.

Discover I would be asking for a CLI every 60-90 days....they can be awesome. Our card went from 4k to 7 to 11 to 18 in just a matter of months.

Always be cheerful to the reps it can make a world of difference.

[Chaselover]

I had checked for CLI on my Amazon during the first month I got the card, CL1800, direct rejection. Im planning for my next CLI at the 180 day mark.

[DU556]

that's weird that your Discover credit went up that quickly. I've had mine for 10 years this month and they barely increased my credit limit to $10,800.  A few years ago they bumped me up to $5,800 and stayed there. I called them and they said it would require a Hard Pull, at that point I told them forget it. I applied for Amex 11 months ago and quickly got increased from $4k->$12k->$23,300.

2 days ago Discover finally increased my limit to $10.8k

[DU556]

OP, I don't know if you know this but if you link your discover card to your amazon account, you can use your miles (if you have a miles card) to pay for stuff on amazon.  I noticed that if I redeem my miles on the discover website for gift cards or other stuff, they jack you for the value of the miles.  On amazon, you get to use your miles at their true value of 1%

Look up :"Pay with miles" Amazon

You can do this with Amex and some Citi cards as well. I highly recommend this for anyone who wants to get a good return on their miles. I've also noticed my Amex points are garbage compared to miles from discover on Amazon.

1 dollar with Discover is worth 1 mile but with AMEX it's only worth .70

[UncleB]

The others have excellent suggestions for contacting Credit Solutions, etc. but when it comes to strategy, I can add that some of my most generous CLIs have come right after paying down a large balance or making large payments, especially if you are paying an account in full after carrying a balance for a while.

In my own case, USAA gave me a SP CLI the same month I paid off a 0% APR balance, and just last week I PIF my Quicksilver Visa... I had been carrying a balance at 0% with it as well.  The payment I just made to PIF was just over $1k, and in a few weeks it will have been six months since my last CLI, so I'm thinking unless something goes haywire I should get at least a small bump via the button.

I've also found that Synchrony cards respond well to high usage... my Sam's Club MasterCard was approved in August with a credit line of $1500, and just a couple of weeks ago they gave me an auto-CLI to make the new credit line $4850 without my doing a thing other than putting $1k/month on it and PIF (I will note, though, that twice I tried the CLI button, and both times was a no-go... although it's likely Credit Solutions could have helped).

Hope this helps! 

[Anonymous]

Thank you all for the advice.  I will make an attempt with Amazon and Lowes and see what happens.  Discover I have been using quite a bit since there is  the bonus cash back at the stores I've been shopping for the holidays.  I will PIF right before the statement cuts so hopefully they will like seeing that when I'm two or three months down the road with them.

BOA I've seen a lot of people saying they only do requested CLI by hard pull so hopefully they will give me some love on their own.  I have been a customer for a long time, maybe that will help.