Requesting Credit Limit Increases

[Anonymous]

In an attempt to reduce my utilization on several cc's and improve my score (the primary issue with my score is that balances are too high - I have zero lates), I have paid a couple down to $0 balance and working to pay others off soon (next few months).  I am also trying to get some limits increased so that my util gets reduced faster.  Just got off the phone with Capital One, I asked the rep if I can request a CLI without them doing a hard inquiry.  The rep's response is that Cap 1 is a conservative company and that being so they perform their own periodic reviews of consumer's accounts and adjust CL's accordingly.  She stated that they do not do "consumer initiated" CLI's.  I have a few questions:

• Is this true for Cap 1? 
• If so, are there CC companies out there that are more lenient in the CLI area?  I have CITI AMEX, Household Bank, Costco AMEX, WAMU (formerly Providian)
• Other than perfect payment history, what are some of the criteria that CC companies review to approve a CLI?
• Are there CC companies that perform a hard inquiry no matter what when one requests a CLI?

Thanks in advance for any insight.

[sl]

Citi does account reviews but also do customer requested CLI's. When they did mine, it did not show as a hard pull. So you may want to try them.

[Tuscani]

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focused07 wrote:

In an attempt to reduce my utilization on several cc's and improve my score (the primary issue with my score is that balances are too high - I have zero lates), I have paid a couple down to $0 balance and working to pay others off soon (next few months).  I am also trying to get some limits increased so that my util gets reduced faster.  Just got off the phone with Capital One, I asked the rep if I can request a CLI without them doing a hard inquiry.  The rep's response is that Cap 1 is a conservative company and that being so they perform their own periodic reviews of consumer's accounts and adjust CL's accordingly.  She stated that they do not do "consumer initiated" CLI's.  I have a few questions:

• Is this true for Cap 1? 
• If so, are there CC companies out there that are more lenient in the CLI area?  I have CITI AMEX, Household Bank, Costco AMEX, WAMU (formerly Providian)
• Other than perfect payment history, what are some of the criteria that CC companies review to approve a CLI?
• Are there CC companies that perform a hard inquiry no matter what when one requests a CLI?

Thanks in advance for any insight.

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Citi never pulls a hard for CLI unless you fill out the form requesting one. I would ask if a hard Inq will be pulled before requesting a CLI from any CCC.

[Anonymous]

Thanks - will try them next. 

On a side note, I did not realize what font size I used for that post...will make sure to reduce next time - looks huge! 

[Anonymous]

I've heard the came thing about CapOne...they just increased me from $300 to $500. I remember back in March or so getting a letter from them indicating that if I paid on time, used the card, and was able to fog a mirror between then and May, they would raise me. And they did.

With my BofA card, there's a button to click on to request a CLI. I asked for $2000. I expected--and got--$1000. I'll revisit that little button early this fall and ask for $3000, and expect $2000. (First rule of negotiation is to always ask for more than what you expect to get.)

[Anonymous]

haha, this is actually amusing to me.

I have a card with First Premier (It was a starter card), Last month I requested a CLI - I was rejected/refused. haha, I paid the card down in full.. I went online to request a CLI again. The Message I received instantly was "we've increased your limit" - just ran an updated score report as well since it's been about 2/3 months & i wanted to see the effects of my util and they didn't even do a soft inq.

[Anonymous]

AMEX is probably the most generous with CLIs.

[smallfry]

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@Anonymous wrote:

AMEX is probably the most generous with CLIs.

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Adam's Apple.

[smallfry]

I've had a 5K Platinum with a $59 AF for nearly five years with Cap One. I asked for a CLI for the first time the other day went to the supervisor the whole bit after I was offered and refused a $300 increase. I was told they would review and I would know within a month. If I didn't need the history I would have ended it there. Into the sockdrawer for eternity.

[Anonymous]

The Apple in the Garden of Eden, according to legend, represented temptation and giving in to the temptation was sin in and of itself. If one truly believed this, one would not have ANY credit cards.