I just logged in to my WF online account, and I saw that the CL on my Visa has been bumped from $3000 to $4200! I'm not exactly sure why it happened. Here are all the relevant facts:
--I've had the account since December 2011, and I tend to run $2000-$2500 through it every month; prior to this past month, I have PIF every month.
--I inquired about a CLI in July, but the rep at my local branch, after looking into it, said that accounts as young as mine aren't eligible for customer-requested CLIs.
--Later in July, I opened up a Citi Card and an Amex (backdated to 2006), and got my Discover CL up from $500 to $1000.
--This past month was the first time I didn't PIF (I took a vacation in August after the bar exam), so I've carried a balance of just under $2000 for 30 days (at my intro rate of 0%, of course).
--in the 2 months since opening my Amex, that's been getting the majority of my day-to-day charges instead of my WF card.
--The only negative marks on my CR are late payments on my Student Loans, and those lates just turned 1 year old as of August (on EX)/September (on EQ &TU)
It's an interesting confluence of factors. I obviously don't know exactly why I am getting this CLI now, but my credit profile has improved a lot in the past 60 days, so I must be doing something right.
Starting Score: 617 (EQ 6/10/2012)
LionLaw wrote:I just logged in to my WF online account, and I saw that the CL on my Visa has been bumped from $3000 to $4200! I'm not exactly sure why it happened. Here are all the relevant facts:
--I've had the account since December 2011, and I tend to run $2000-$2500 through it every month; prior to this past month, I have PIF every month.
--I inquired about a CLI in July, but the rep at my local branch, after looking into it, said that accounts as young as mine aren't eligible for customer-requested CLIs.
--Later in July, I opened up a Citi Card and an Amex (backdated to 2006), and got my Discover CL up from $500 to $1000.
--This past month was the first time I didn't PIF (I took a vacation in August after the bar exam), so I've carried a balance of just under $2000 for 30 days (at my intro rate of 0%, of course).
--in the 2 months since opening my Amex, that's been getting the majority of my day-to-day charges instead of my WF card.
--The only negative marks on my CR are late payments on my Student Loans, and those lates just turned 1 year old as of August (on EX)/September (on EQ &TU)
It's an interesting confluence of factors. I obviously don't know exactly why I am getting this CLI now, but my credit profile has improved a lot in the past 60 days, so I must be doing something right.
CONGRATS!!
They are more than likely trying to stay competitive and want you to spend more on their card than the other new prime cards you obtained. Some creditors will do that in hopes you SD the others.
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