03-25-2009 07:33 PM
I am just wondering ...if you have a cap 1 platinum since August made on time payments every month since it has been opened. Paid atleast 2x-5x the min payment when due... what are the chances of getting a CLI without asking?
I am curious how do some cards decide you are worthy for a CLI...although i am very happy with my current CL ( which is 3500)
and if i was to get a CLI i dont want to be the one asking for it at this stage...i would rather they hand me one
03-25-2009 09:07 PM
03-25-2009 09:32 PM
03-25-2009 10:01 PM
Honey, with scores like that a CLI is the least of your concerns. With the new FICO '08 scoring system, "piggybacking", or being an AU on your dad's card won't help your score like it used to. Some reports are even saying it won't be a helping factor at all! This isn't "your" positive TL, it's your dad's, regardless of who pays the bill. You should get a secured card from a sub-prime lender like Orchard Bank & start building a positive TL of your own. Also start writing snail-mail (not email) letters trying to get whatever old Baddies are destroying your score removed, ASAP. Best of luck!
EQ-785 EX-779 TU-789
03-25-2009 10:11 PM
As previously stated i am happy with my CL... however i still wonder how do cards decide who to give CLI to and who not. Again as previously stated i am working on my baddies...I been a member on this site for under a month and it is helping me out a lot in regards with what to do. Now that i have submitted my letters maybe i will have some better scores to update ya'll with in 30-45 days
Also i do plan on opening a secured card...Orchard bank does not appeal to me though i was thinking citi or USbank or one of the others that has been suggested by ppl on this site
03-26-2009 06:30 AM - edited 03-26-2009 06:33 AM
I agree with CreditAddict,
Treat that card with velvet hands. With your scores you are potentially at high risk of a Credit Limit DECREASE in light of todays credit markets.
$3500 is a respectable limit, especially with your scores. Use it wisely and don't carry too large of balances...keep below 35% and ALWAYS pay more than the minimums.
Paying minimums indicates your disposable income is maxed. Combine that with low credit and baddies and you are ripe for the CLD or other Adverse Actions such as rate hikes, etc.
EDIT UPDATE: I did not notice initially that this was an AU account. Your personal credit has no bearing on the account. However, your use of the account and how you manage it will affect your father's credit, so be wise.
With that said, your father's income and credit will determine the CLI in addition to the payment history.
03-26-2009 10:04 AM
03-26-2009 02:56 PM
thanks for the replies...but seriously i was just more interested in the process in general and i used my card as an example. I do wonder how any card be it Cap 1, Citi, BofA, Amex or anyone else decide who to give CLI to,
I have read some posts where people have so so credit and good payment history and luck out with CLI, or some with good credit good payment and cant get a CLI...or vice-versa....Sometimes it seems like there is no rhyme or reason to credit cards companies decisions..
Especially when you got cards like Amex who are slashing, or closing peoples accounts who has all everything going for them..
in this credit climate even with good credit, no baddies, any good history i am beginning to think CLI or AA is really just a roll of the dice if it hit you or not
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.