Will I Get Credit Limit Increase even though my credit Utilization is less than 20% every month?

[RiotAct]

It really depends on the card issuer you're trying to get a CLI with.  Discover likes to see heavy usage, and paying in full or near-full each statement.  Comenity, on the other hand, gives CLI's on pretty much all their store cards to anyone who has a pulse.

[Anonymous]

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@RiotAct wrote:

It really depends on the card issuer you're trying to get a CLI with.  Discover likes to see heavy usage, and paying in full or near-full each statement.  Comenity, on the other hand, gives CLI's on pretty much all their store cards to anyone/thing who has a pulse.

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Even this guy.

[taxi818]

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@Anonymous wrote:

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@RiotAct wrote:

It really depends on the card issuer you're trying to get a CLI with.  Discover likes to see heavy usage, and paying in full or near-full each statement.  Comenity, on the other hand, gives CLI's on pretty much all their store cards to anyone/thing who has a pulse.

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Even this guy.

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Nixon. You're a hoot. I don't think fido gets cli. . He does not have a social   Lol 

[lg8302ch]

For me I had heavy usage on Discover 80-90%  for the first year due low limit and did not get any increase on my 2,5K card. At that time I did the 0 balance reporting game.  Not sure if it was because I paid before statement cut and reported 0 balance or if it was just time or anything else but after the first year I stopped to PIF before statement cut and let balances report on all of my cards and then all the sudden Discover gave me CLIs. Within 9 months I went from 2,5K to 10K in incrediments of 2,5K.  These were not auto CLIs but requested with the luv botton and with SP.  As for Cap1 I did get CLI with 70% utilization. It looks to me that Cap1 does not really care that much about util.  Did it twice with the luv button. First time 5K - 10K and then 10K to 11K.. admit it was not much but I do not need more than 10K on any card and this was just a try to see what will happen with high util on the Cap1 card.  The result was a surprise.

OP just keep trying with Discover (will indicate SP/HP) and Cap1 (SP)...For Discover the luv button will indicate if it requires a HP and then you can still cancel the request. This is what I did several times before I finally got a successful CLI. Just need to know that if you do this the CLI request feature might get stuck and you need to wait another 2-3 months to repeat. Good luck!

[takeshi74]

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@Anonymous wrote:

Will I Get Credit Limit Increase even though my credit Utilization is less than 20% every month?

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You're not ineligible for a CLI because of that but there's no telling if you'll get a CLI or not.  Utilization is only factor (Amounts Owed) among several:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

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@Anonymous wrote:

or will they say "NO we wont give you increase because you dont use it anyways."

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That's not how the decision is made on CLI's.  It's about credit and income.  Low reported utilization is beneficial.  However, lack of use can be cited by creditors.  Use and reported utilization are two entirely different things.

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@CreditGuy03 wrote:

Can you still get a CLI with capital one if your util is high?

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Again, utilization is just one factor.  It's possible but high utilization will reduce one's odds.  It's considered a significant risk factor.  If you want the best possible odds qhen requesting a CLI then get your reported utilization optimized (1 balance at 10% or less) and reported first.

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@Anonymous wrote:

Sorry for another stupid question lol. but what is PIF?

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Don't overlook the stickies.  This thread is linked in the Helpful Threads sticky in this very subforum.

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

[Gunnar419]

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@RiotAct wrote:

It really depends on the card issuer you're trying to get a CLI with.  Discover likes to see heavy usage, and paying in full or near-full each statement.  Comenity, on the other hand, gives CLI's on pretty much all their store cards to anyone who has a pulse.

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+1 But I would add that Discover likes heavy usage and in my experience likes people who carry balances from month to month. Maybe they like PIFing, too, but I carried a balance on my Discover card every month for more than 17 years (don't beat me up, it was before I found MyFico!) and they've always shown me luv.

[longtimelurker]

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@Gunnar419 wrote:

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@RiotAct wrote:

It really depends on the card issuer you're trying to get a CLI with.  Discover likes to see heavy usage, and paying in full or near-full each statement.  Comenity, on the other hand, gives CLI's on pretty much all their store cards to anyone who has a pulse.

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+1 But I would add that Discover likes heavy usage and in my experience likes people who carry balances from month to month. Maybe they like PIFing, too, but I carried a balance on my Discover card every month for more than 17 years (don't beat me up, it was before I found MyFico!) and they've always shown me luv.

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Well, they probably did like you.   But as always my question is what is a CLI worth?   For most, certainly not worth paying any interest for.