Valued Contributor
AndySoCal
Posts: 1,952
Registered: ‎04-07-2009
Re: Blue Cash Everyday CLI denial

All,

 

Before asking for a credit limit increase plase consider these factors first.. The lender is consider a  few factors when making a decison to grant the increase or not.. First is the income of the applicant. Secondly the credit history of the applicant not with  the lender but all other creditors the applicant has. If neither of these two factors as not changed much if at all then more than likely you will not get the increase.  Also be careful about asking for CLI's over and over. Asking for a CLI is considered the persuit of new credit.. Under the premise that a consumer only applies for the credit they need (NOT want) the question becomes is why is the consumser asking  CLI' over and over.  Which can and will raise a red flag with a lender. In some cases the consumer is doing a juggling act to try to stay above water.  It does not take much for everything to fall apart credit wise.  All that said also keep in mind AMEX is a conservative lender short payment history of a year or less is not long enough.

 

To amplify about the credit history with a lender a few years ago I opened a new account.  The initial credit limit was very small ($100)  I have a FICO score around 800. So I asked for a CLI shortly after I got the card.  I was denied. Why I asked? The CSR said it was not due to my credit history but the lack of payment history with them. Long story short, today my credit limit is  $2700. That limit is more than enough since ,my balance when I use the card is < 10%. I pay full each month.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011