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When to stop asking for CLIs?

Contributor

When to stop asking for CLIs?

Currently most of my cards are around $3K. Lowest is $500, highest is $8K.

 

When should I stop asking for CLIs? Or more importantly, is it seen as a bad thing if I have a very high limit and rarely use the card (do I risk a credit decrease?)?

 

 

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Message 1 of 16
15 REPLIES
Valued Contributor

Re: When to stop asking for CLIs?

NEVER!!!!!!!!!!!!!!!!! Smiley Wink



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 2 of 16
Valued Contributor

Re: When to stop asking for CLIs?


Swapmeet wrote:

NEVER!!!!!!!!!!!!!!!!! Smiley Wink


+1000...Smiley Very Happy!

 photo Logo - Credit Card Collection - Data Inclusive_zpskiw5xfjj.jpg photo emerald_zpsfitcxbh5.jpg
Message 3 of 16
Moderator

Re: When to stop asking for CLIs?

As others have stated never quit asking. As far as a decrease if you use the card even for a few bucks there is little chance of a decrease as there is little risk with a low or 0 balance, this of course as long as your other accounts are in line as well.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 4 of 16
Highlighted
Valued Contributor

Re: When to stop asking for CLIs?


Croselx wrote:

..is it seen as a bad thing if I have a very high limit and rarely use the card (do I risk a credit decrease?)?

 

 


+1

 

I am curious, too. Smiley Indifferent

Message 5 of 16
Senior Contributor

Re: When to stop asking for CLIs?

When increased limits will not improve the quality of your financial life.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 6 of 16
Valued Contributor

Re: When to stop asking for CLIs?


Swapmeet wrote:

NEVER!!!!!!!!!!!!!!!!! Smiley Wink


You took the works right out of my mouth!!! 

+10000 on SP don't want to go over board it they are HP

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 7 of 16
Super Contributor

Re: When to stop asking for CLIs?


drkaje wrote:

When increased limits will not improve the quality of your financial life.


+1.  Or even, when the effort expended exceeds the possible gain. So at present I might click a link if it is a guaranteed SP, but certainly won't call to ask for one.   And now I won't even click a link with Citi, as it creates too much followup hassle

 

To those who say "Never", I'm pretty sure that one day the excitement will wear off!   Once you have "enough" credit (for your definition) adding an incremental bit more does nothing.

Message 8 of 16
Contributor

Re: When to stop asking for CLIs?

Thanks for the replies everyone! I'm asking because there are certain cards that I have used in the past for big purchases, but will not be used again other than to keep them active (unless they offer 0% financing or other type of benefit). Most of these cards do SPs for CLIs and currently sit at $5-8K in limits, but can go higher. My worry is that if the limits are too high that it will be seen as too high a risk.

 

 

 

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Message 9 of 16
Established Contributor

Re: When to stop asking for CLIs?

Depending on your income, you may reach a point when it becomes difficult to secure new credit if your total available credit is high relative to your income.
   
FICO Scores 800+
Message 10 of 16