TOO MUCH Available Credit?

Anonymous · ‎12-31-2014

Hello everyone. Has anyone else ever received a CLI decline due to "too much available credit with other accounts"??

Wells Fargo did not feel comfortable increasing my limit they said because of the overall available credit I have. I'm somewhere around $17,000 out of $92,000.

Anonymous · ‎12-31-2014

@Anonymous wrote:
Hello everyone. Has anyone else ever received a CLI decline due to "too much available credit with other accounts"??

Wells Fargo did not feel comfortable increasing my limit they said because of the overall available credit I have. I'm somewhere around $17,000 out of $92,000.

It happens quite frequently. In fact, people receive credit limit decreases because their files are reviewed and the creditor decides that they have too much available credit. In limited cases, accounts have been completely closed for that reason.

MT936 · ‎12-31-2014

no my total limit is way above my income (im a college student)

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

coldnmn · ‎12-31-2014

@Anonymous wrote:
@Anonymous wrote:
Hello everyone. Has anyone else ever received a CLI decline due to "too much available credit with other accounts"??

Wells Fargo did not feel comfortable increasing my limit they said because of the overall available credit I have. I'm somewhere around $17,000 out of $92,000.
It happens quite frequently. In fact, people receive credit limit decreases because their files are reviewed and the creditor decides that they have too much available credit. In limited cases, accounts have been completely closed for that reason.

+1 it happens frequently.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17

takeshi74 · ‎12-31-2014

@Anonymous wrote:
Has anyone else ever received a CLI decline due to "too much available credit with other accounts"??

Of course, Creditors don't extend infinite credit even to those with 850's. For any given credit profile and given creditor there is going to be a limit on what the creditor is willing to extend.

aav · ‎12-31-2014

Macy's Amex declined me a cli earlier this year. My utilization averages 5% so I went from "whaaat"? to "whatever"! I've received a few other cards and a heck of a bigger credit line from other cc's. they explained that if I used all of my available credit (100%). That I would not be able to pay them back. I didn't bother explaining my risk factor is 1%. Needless to say I don't use that card much any more.

EQ - 834 TU - 823 EX - 822
Amex NPSL Amex BCP - 25,000, Amex EDC - 12000, Diner's Club Premier -35,000, Ritz Carlton - 22,500 Discover 25,100, Chase Reserve -31,000 Total Rewards 13200, Barclay 10000 Citi Diamond P 8,900

lg8302ch · ‎12-31-2014

This is the answer I would have expected for my latest app with US Bank but even with balances on 9 out of 11 accounts and more than 2 x my income in total available credit it was a nice surprise to get the signature version and 7K with almost the best APR. Now I just hope that this last app will not spook Chase as in their eyes I am a high risk customer that is why they gave me 22,99% APR. To be fair Chase is also the lender with highest exposure. The bad thing is that I still have Chase cards on my wishlist. So the next Chase app will need to wait a bit.

mitchblue · ‎12-31-2014

I have a couple CC that have nice limits where I could ask for a CLI but I'm not sure why I would need to do it? If they auto it that's fine but I don't need to ask..IMO, in my case it doesn't help.

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)

Anonymous · ‎01-01-2015

Wow, I have never thought of this way. However not thinking of it, in the past when I have requested CLIs, some CC companies have been initially hesitant to extend additional credit because of my low utilization. I think they sort of catch on that it's more of a thrill / hobby, lol.

With that said, do you guys/girls have any suggestions on how I can get a reconsiderationin my request? Wells Fargo kicked my request up to a hard pull, so I now feel like I need to become more persuasive.

My wells fargo account is a retail / furntire account. I planned on purchasing a living room set this weekend with my account because it offers 0% for 12 months with any purchase over $500. Sure I could use any of my other revolving accounts with open credit, but why would I do that when this account is only designed to purchase furniture?

It is currently $10,000 limit, and I carry a $500 balance, down from $1,500 last month. I requested a $15,000 line or was open to something in between. The set I planned to purchase was $3,000.