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Contributor
Posts: 139
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
Posts: 1,569
Registered: ‎11-10-2012
0

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
Valued Contributor
Posts: 1,589
Registered: ‎11-10-2012
0

Re: When to stop asking for CLIs?


Swapmeet wrote:

NEVER!!!!!!!!!!!!!!!!! Smiley Wink


+1000...Smiley Very Happy!

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Moderator
Posts: 22,649
Registered: ‎12-13-2013
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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 Fico 08 BC 08/15: 798 (-8); EX Fico 04 V2 06/14: 775
EQ Beacon 5.0 12/14 757
TU Fico 8 08/15: 761 (+6)
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Valued Contributor
Posts: 1,329
Registered: ‎07-07-2013
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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

Senior Contributor
Posts: 3,491
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 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Valued Contributor
Posts: 12,954
Registered: ‎08-13-2013
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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

Old user name newportguy*** Current Score: myFico EQ - 830 (05/16/2015) Discover TU Fico - 832 (07/03/2015) EX Fico - 821 ( 05/01/2015 ) ******* Amex - BCP 10 K * Discover - IT 16.5 K * U.S. Bank Cash + Visa Signature 10.3 K * PenFed - Cash Rewards 5 K * Amex - GDSM 5 K ******FICO 800 Club Member ******* EQ 830 *** TU 832 *** EX 821 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 830's Scores ******
Super Contributor
Posts: 11,211
Registered: ‎04-22-2013
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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.

Citi: Forward, AA Select Plat, Double Cash, Dividend. Chase: Amazon, Freedom, CSP. Cap One: 2 x QS. Penfed 2x Plat Rewards. US Bank: Cash Plus. Barclays: Arrival, SM. Amex: BC, BCE, ED. Nasa FCU. Ebates, FIA Fidelity Amex, Discover IT Miles.

Contributor
Posts: 139
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
Posts: 653
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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