Whispers from a Credit Analyst

[Imperfectfuture]

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@wacdenney wrote:

I have had credit unions deny me due to "too much available credit" (NASA), but never a normal big bank.

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Yup, CU's vary in policy.  loan is more DTI, while cards do take a look at available credit.  Just tried to get my CU CL closer to my other cards, and lower the apr.  Very conservative these folks, but the travel bennies are good, just no sign up bonus.  CU's also tend to still be using the 04 scores.  NASA sounds like they are akin to discover, Amex, barclay.  They want to be your main squeeze, one of the first,  so now, must be choosy with my cards, because want more, but need to have spend more.  UGH.

[gdale6]

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@Imperfectfuture wrote:

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@wacdenney wrote:

I have had credit unions deny me due to "too much available credit" (NASA), but never a normal big bank.

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Yup, CU's vary in policy.  loan is more DTI, while cards do take a look at available credit.  Just tried to get my CU CL closer to my other cards, and lower the apr.  Very conservative these folks, but the travel bennies are good, just no sign up bonus.  CU's also tend to still be using the 04 scores.  NASA sounds like theYuoy are akin to discover, Amex, barclay.  They want to be your main squeeze, one of the first,  so now, must be choosy with my cards, because want more, but need to have spend more.  UGH.

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Yup, they all have different policies, I like the fact that mine operates the way they do.

[wacdenney]

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@Imperfectfuture wrote:

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@wacdenney wrote:

I have had credit unions deny me due to "too much available credit" (NASA), but never a normal big bank.

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Yup, CU's vary in policy.  loan is more DTI, while cards do take a look at available credit.  Just tried to get my CU CL closer to my other cards, and lower the apr.  Very conservative these folks, but the travel bennies are good, just no sign up bonus.  CU's also tend to still be using the 04 scores.  NASA sounds like they are akin to discover, Amex, barclay.  They want to be your main squeeze, one of the first,  so now, must be choosy with my cards, because want more, but need to have spend more.  UGH.

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idk...  I have $5 sitting in my NASA share savings account that I opened in order to establish a relationship with a Federal Credit Union that I thought would be better capable of servicing my lending needs.  Well it sure wasn't NASA for me.  No idea why. 

I wound up going with DCU and now I have a PLOC and auto loan through them as well as the low APR credit card.  They have been great to me and at this point I'm kindof glad NASA didn't work out.

[Membersince2013]

Yeah, but the thing is that she's not in charge of making the algorithm their computers run on, so i won't really take her word for it.

[Imperfectfuture]

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@Membersince2013 wrote:
Yeah, but the thing is that she's not in charge of making the algorithm their computers run on, so i won't really take her word for it.

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Whom are you responding to?

[scorewatcher7]

Quite a relief, if your analyst is correct. Many in these forums, including myself, show concern with CLDs. Good to know.

[Revelate]

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@Membersince2013 wrote:
Yeah, but the thing is that she's not in charge of making the algorithm their computers run on, so i won't really take her word for it.

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There's generally two different decisioning trees at a lender: automatic and manual.  Manual has a lot more leeway on all sorts of things and is why we see people reconning limits here and actually being successful; if she's an actual analyst who's determining both approval and CL, she likely does know precisely what she's talking about for the lender in question.  

If random CSR, not so much.

Personally I'd always rather go manual as my score sucks compared to the underwriting quality (all derogs paid).

[lg8302ch]

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@Anonymous wrote:

Hi,

I got off the phone with a Bank of America Credit Analyst today who really put my mind at ease.

My initial call was to see if BoA would increase my limit on the Better Balance Rewards card which I recently applied for and swap some of the limit to the Travel Rewards card.  My analyst told me that both acts required a hard pull.  Bummer.

While I had her on the line, I told her I was concerned that I have too much available credit and that I'm worried that this might cause BoA to take a closer look into my account.  She told me that BoA doesn't care about the overall credit available, they are more concerned with your debt/income ratio.  

I thought I'd share this little snippet to put your mind at ease for those of you with large amounts of available credit and a relatively small income.

On a side note, has anyone had any success with a initial line increase through recon without a hard pull?

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I have no experience with CLI right after approval but what for sure worked for me several times is to CLI both accounts with the same HP on TU.  So you might as well wait a bit and then ask for the CLI on both accounts at the same time with the same pull. Good luck!

[Membersince2013]

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@Imperfectfuture wrote:

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@Membersince2013 wrote:
Yeah, but the thing is that she's not in charge of making the algorithm their computers run on, so i won't really take her word for it.

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Whom are you responding to?

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Sorry, to the OP.

[Membersince2013]

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@Revelate wrote:

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@Membersince2013 wrote:
Yeah, but the thing is that she's not in charge of making the algorithm their computers run on, so i won't really take her word for it.

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There's generally two different decisioning trees at a lender: automatic and manual.  Manual has a lot more leeway on all sorts of things and is why we see people reconning limits here and actually being successful; if she's an actual analyst who's determining both approval and CL, she likely does know precisely what she's talking about for the lender in question.  

If random CSR, not so much.

Personally I'd always rather go manual as my score sucks compared to the underwriting quality (all derogs paid).

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I see your point! I often have problems with too many INQS, not necessarily my score.