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Revelate
Posts: 8,138
Registered: ‎12-30-2011
Re: Do you think I could get a cli on any of these cards??
[ Edited ]

Leahgrace wrote:
Ok, I am in a ton of debt, I know that. But I am a senior in college and working a not so great job till I graduate, so I do need credit, at least for now, and I am not planning on using more, but I want to improve my credit and thus am looking for higher limits. So, my question is, should I even bother trying to get a cli or would it be a waste of an inquiry? I have almost 5 years credit history and have never missed any payments or had a late. No collections or anything on my credit. Here are my cards: Wells Fargo 5,600, 7 k limit Cap 1 0 balance 1200 limit Cap 1 2,500 balance, 3 k limit Discover 2 k balance, 3k limit Citi, 0 balance, 500 limit. Side note on my citi, it used to be a 2500 limit, but a year ago the did a cld. No reason. I was last declined for an increase 8 months ago.

Welcome to the forums Leah!

 

CLI's don't improve credit directly; the biggest thing you can do (besides never being late or under the minimum payment on a card) to help your credit score is to begin to pay down the balances.  I know that's difficult as a student with a crummy job, but you have more than enough credit cards for your report to produce a solid score, and you have fairly good limits compared to many people who stumble across this forum.  That's doubly true as a student.

 

In any event, I'd put any future credit applications / CLI's / etc on hold until graduation and a better job is obtained with hopefully better income.  As long as you continue to make on-time payments, your payment history will improve, and once you get your balances paid down, you'll be in a pretty eviable position. :smileyhappy:

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


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