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Would you wait 6 months to ask for a CLI after first getting a new card?

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galahad15
Valued Contributor

Update: asked for a CLI today, denied due to having excessive available credit

Just wanted to update everyone: apparently some other posters were indeed right in that PACU may indeed be an extremely conservative CU, b/c since I figured my scores were unlikely to go significantly higher anytime in the future, I requested a CLI by phone earlier today, before I was able to read the post directly above mine advising to give it a little more time. It required a hard inquiry, and was denied -- the CU said the reason for the denial was because I had "excessive available credit" (my total CL across all my cards is about $125k). I replied to the CU CSR that although I have a lot of credit available, she may also notice that I was barely using it, since my current total util is 6%. The CSR responded that she was aware of that, but that in the CU's eyes, there was nothing hypothetically stopping me from maxing out the whole limits for all my cards in one day. I would obviously never do that, but nothing I said was able to make the CSR more amenable to a CLI.

 

One other interesting thing that I found out -- since I had mentioned that I wished I had known what a reasonable SL range to request would be at that time I first apped -- was the CSR stated that the amount I asked for, $2,000, was also the maximum CL they would have approved at the time regardless, and that if I had fact asked for more when I first apped, the higher requested SL still would have been denied. The CU further does not do any auto-CLIs, and all CLI requests are HP, each and every time. Idk, I guess better to find out now in the present while my scores are at their relative highest, than wait until later on with lower scores and still be denied...So I guess this CU maybe has the same level of stringent, conservative credit lending criteria as say Barclay, and maybe a few other ultra-conservative lenders Smiley Sad


Message 11 of 13
austinguy907
Valued Contributor

Re: Update: asked for a CLI today, denied due to having excessive available credit

Sounds like your gut instinct was correct when you opened it.  Athough sussing out the information might help someone else in the future.  I've seen this excessive available credit response a couple of times in the past few years.  It doesn't come along very often.  Time to garden and tend to those CLIs again.  

 

I would take the card and throw it into your glove box for emergencies and forget about it for awhile.  Use it for gas every 6-12 months to keep it alive but other than that it doesn't seem to have much for benefits.

Message 12 of 13
galahad15
Valued Contributor

Re: Update: asked for a CLI today, denied due to having excessive available credit


@austinguy907 wrote:

Sounds like your gut instinct was correct when you opened it.  Athough sussing out the information might help someone else in the future.  I've seen this excessive available credit response a couple of times in the past few years.  It doesn't come along very often.  Time to garden and tend to those CLIs again.  

 

I would take the card and throw it into your glove box for emergencies and forget about it for awhile.  Use it for gas every 6-12 months to keep it alive but other than that it doesn't seem to have much for benefits.


Yes indeed you said it perfectly, it is pretty much now "into the garden" mode for me.  As one thing you had helpfully mentioned earlier, one consolation of sorts is that I can still continue to request SP CLIs every few months on my FNBO, Citi, and Discover cards.  

 

As to the PACU MC itself, although the CLI denial was a little disheartening given my existing scores, I am still quite fond of the card, even with the CLI denial.  In today's cards that you can still app for and that are not geographically-restricted, the APR is hard to match, especially since it is a fixed-rate card as well.  The 1.4% or 1.5% rewards earned per dollar spent is nothing spectacular with all the 2% cards out there, but to be fair, it is also still somewhat remarakable in mho that a card with a fixed APR this low offers rewards to begin with.  In about a month I will be receiving the promo $100 statement credit, which is also nice.  So the card is still a keeper for me Smiley Happy  I just have to make sure that the util stays below 30% and ideally below 10%, which will most likely mean making multiple payments per month.


Message 13 of 13
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