10-29-2012 10:01 AM
I wish to increase my credit line and I was wondering what amount is considered reasonable.
Is there a standard that people ask for? like 50% of current limit or doubling the limit.
I have 8k on chase and 6k on citi.
Is this reasonable to ask for double? I am asking because I want to make my chase 15k and 10k for my citi.
Thank you for your time reading my post and I appreciate all your input!
10-29-2012 10:06 AM
ask for an unreasonable amount and let them counter with their best.
10-29-2012 10:20 AM
I wouldn't say "Ask for an unreasonable amount". I can imagine some creditors, if you asked for say $1 million, would just close the account then and there.
A better rule of thumb is to ask for a little bit more than you want and feel you can reasonably expect to be approved for.
As a guideline, 2x is reasonable with most creditors, and for certain creditors (GE for example) even 3x or 4x is reasonable.
In OP's case, I'd probably ask for 17k and 12k on the cards, and settle for the 15k and 10k I really wanted.
10-29-2012 10:31 AM - edited 10-29-2012 10:31 AM
Are Chase and Citi HP's for CLI?
10-29-2012 10:55 AM
Chase is HP and if you can take the HP I would call directly into backdoor and try to do it with Rep while on phone if they have any questions.
Citi should be soft and do it right online... if you are at $6k, $12-$15k would be where I would be asking.
Chase Id ask for $20k.
citi will counter and be instant most likely, chase im not as familiar with.
as long as you are asking tunder the $25k range I don't see much harm in what you ask for and i have never heard of an account getting closed on the spot because you asked for $1 million, why would that matter?
If you do automated system over phone for your $500cl Walmart and ask for a $1 million increase, if the phone system could laugh it probably would, but don't think you are going to hear sorry you are stupid to ask for that we have closed your account you are so stupid!
10-29-2012 11:06 AM
10-29-2012 11:10 AM
Are you sure cities is soft with online forms?
Recently it was a hard for someone I know. And rejected Btw.
within last year I have not seen HP done onlin when CLI request was done... but it seems to be like Macy's sometimes the computer kicks it for review and they will pull or just pull but 90% i feel it's suppose to be soft unless you want to push above computer offer or push above no offers on requests for years (maybe type of card product)
10-29-2012 11:22 AM
I did Citi CLI online, and it was soft pull. Actually, it said your credit was not pull at this time of credit increase.
I asked for 2x and got it. It has been 1 year since I open account, so YMMV.
Chase, from reading on here was HP. However, if you just opened the account, from experience with them it was SP for me.. YMMV
Open acct for Freedom with 2k, call and ask for CLI when I got my card, they used the same report and got the CLI almost 2x.
10-29-2012 11:29 AM
As others said, double the limit is always good. I have never known a lender to just deny without giving a counter offer of some sorts.
I have had creditors not counter BUT that's not because I asked for to much, it's because I was just flat out denied!
and I think we hear denied and then hear like oh I thought I should go from $100 to $10k... THATS NOT THE REASON!!!!
it's like amex and the 3x, Amex employees TELL YOU 3x and we still see daily that someone did a request but was afraid and ended up with what they asked for... others say i did ask for 3x and got $0 so then we are back to that person got denied, i don't want to get denied so i didn't ask for that much.....