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Contributor
Croselx
Posts: 138
Registered: ‎07-31-2012
0

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
Valued Contributor
Swapmeet
Posts: 1,423
Registered: ‎11-10-2012
0

Re: When to stop asking for CLIs?

NEVER!!!!!!!!!!!!!!!!! :smileywink:



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: ||5k|| Citi TYP World MC: ||10.5k||
Barlays Arrival World MC: ||10k||
Fico Scores: EQ 760 (SW),TU 757 (Walmart), EX 738 (myfico) Last app: USAA CLI (both cards) 8-15-14
Valued Contributor
indiolatino61
Posts: 1,455
Registered: ‎11-10-2012
0

Re: When to stop asking for CLIs?


Swapmeet wrote:

NEVER!!!!!!!!!!!!!!!!! :smileywink:


+1000...:smileyvery-happy:!

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Valued Contributor
gdale6
Posts: 9,261
Registered: ‎12-13-2013
0

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.

EX Cred Ses 08/14: 767 ; EX Fico 04 V2 06/14: 775; EX Fico 08 07/14 778 ; EX Fico 08 BC 07/14: 800
EQ Fico 05/14 781 ; EQ MPM 07/14: 721
TU Fico 8 07/14: 719; TU MPM 06/14 706
Valued Contributor
DigitalArk
Posts: 1,062
Registered: ‎07-07-2013
0

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. :smileyindifferent:


Senior Contributor
drkaje
Posts: 3,484
Registered: ‎07-25-2008
0

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 754 FICO, EQ 737FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Valued Contributor
-Wade-
Posts: 12,561
Registered: ‎08-13-2013
0

Re: When to stop asking for CLIs?


Swapmeet wrote:

NEVER!!!!!!!!!!!!!!!!! :smileywink:


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

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

*** Old user name newportguy*** Current Score: myFico EQ - 806 (04/04/2014) Discover TU Fico - 808 (07/03/2014) myFico EX - 804 ( 07/08/2014 ) ******* Amex - BCP 10 K * Discover - IT 10.5 K * U.S. Bank Cash + Visa Signature 8.8 K * PenFed - Cash Rewards 5 K * Amex - GDSM 5 K ****** FICO 800 Club Member ******* EQ 806 *** TU 808 *** EX 804 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 830's Scores ******
Senior Contributor
longtimelurker
Posts: 5,973
Registered: ‎04-22-2013
0

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.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Contributor
Croselx
Posts: 138
Registered: ‎07-31-2012
0

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
Established Contributor
Leadberry
Posts: 612
Registered: ‎01-31-2013
0

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.
   
   

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