Re: Tested my GE Holiday theory with Lowe's CLI!
11-17-2012 02:27 PM
Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.
very true....when i requested an increase with the Chev/Tex gas card, i always carried a balance close to the limit every month (had the card for 7 months now) but that was because i used once a week and every time it was almost 100 to fill the thank (have a 400 limit). So maybe now since i stopped using it and PIF im debating if that will improve my chances this time around (plus it is the holidays...lol)
biggest limits: BofA Privilege (33K)/ BofA Cash Rewards (27k)/ Citi AA WEMC (26k)/ Penfed Rewards (22.5k)/ Chase United Explorer (22k)
Fico 08 scores (6/21/14) EX: 758 TU: 759 EQ: 755 (high Utilization for me at the moment @10% so gardening mode).