topic Re: Self VISA unsecured CLI in Credit Card Approvals

Self VISA unsecured CLI

FreedomHammer — Thu, 24 Dec 2020 22:08:02 GMT

I've had a Self VISA card since February of this year. Two months ago, Self started giving me $75 unsecured credit in addition to my $500 secured I swung over from my Self builder account. I received an alert from Self today, and bam -- another $75 unsecured increase.

Has anyone else been given monthly $75 increases? I was considering running much more through the card and making two monthly payments.

Re: Self VISA unsecured CLI

blindambition — Thu, 24 Dec 2020 22:17:28 GMT

Congrats on your CLI!! That's certainly an interesting increase approach, but rewarding good credit behavior. Enjoy!!

Re: Self VISA unsecured CLI

AllZero — Thu, 24 Dec 2020 22:26:01 GMT

Congratulations on your CLI!

Re: Self VISA unsecured CLI

FalconSteve — Thu, 24 Dec 2020 22:30:03 GMT

@FreedomHammer wrote:
I've had a Self VISA card since February of this year. Two months ago, Self started giving me $75 unsecured credit in addition to my $500 secured I swung over from my Self builder account. I received an alert from Self today, and bam -- another $75 unsecured increase.

Has anyone else been given monthly $75 increases? I was considering running much more through the card and making two monthly payments.

It seems weird compared to convention, but I think capital one has a secured card that isn't 1:1 deposit:limit.

Don't spend more than you would otherwise, but if you're already spending the money and you aren't giving up cashack elsewhere, I would run it through this card and make as many payments as you need to stay under your limit.

🎉Congratulations on your CLI🎉

Re: Self VISA unsecured CLI

FreedomHammer — Thu, 24 Dec 2020 22:42:21 GMT

Self is unconventional. I don't like the $29 AF; however, it is my oldest card. I am grateful I have at least something, and hope when my derogatories fall off, I will qualify for something better. Maybe in a couple years?

I am rebuilding after a narcissistic family member ruined the credit of five different people living under the same roof. Our phone was literally ringing off the hook from 8AM to 9PM. I don't want to endure that again.

My oldest account is from 1999 and it is closed. It will fall off in 2025. I only have 10 months of revolving history and just opened a C1 Platinum.

I've seen credit cards in people's signatures with scores around 690 across the three bureaus, and they have like twelve credit cards, sometimes more.

How do people get that many new accounts without wrecking their AAoA component? Surely they don't get all those new accounts at once?

Re: Self VISA unsecured CLI

gdale6 — Thu, 24 Dec 2020 22:50:34 GMT

Wow, grats on getting the CLI

Re: Self VISA unsecured CLI

Anonymous — Fri, 25 Dec 2020 01:13:37 GMT

@FreedomHammer wrote:
Self is unconventional. I don't like the $29 AF; however, it is my oldest card. I am grateful I have at least something, and hope when my derogatories fall off, I will qualify for something better. Maybe in a couple years?

I am rebuilding after a narcissistic family member ruined the credit of five different people living under the same roof. Our phone was literally ringing off the hook from 8AM to 9PM. I don't want to endure that again.

My oldest account is from 1999 and it is closed. It will fall off in 2025. I only have 10 months of revolving history and just opened a C1 Platinum.

I've seen credit cards in people's signatures with scores around 690 across the three bureaus, and they have like twelve credit cards, sometimes more.

How do people get that many new accounts without wrecking their AAoA component? Surely they don't get all those new accounts at once?

I often feel it is people that have low scores not from being in a dirty score card (COs/CAs/etc), but low scores from high utilization on their credit products on an otherwise clean scorecard (no/few baddies - maybe a couple lates, but not major derogs). Also, no, I do not think they get all the cards at once, if it is a large number of them.

Re: Self VISA unsecured CLI

Anonymous — Fri, 25 Dec 2020 01:12:42 GMT

@FreedomHammer wrote:
I've had a Self VISA card since February of this year. Two months ago, Self started giving me $75 unsecured credit in addition to my $500 secured I swung over from my Self builder account. I received an alert from Self today, and bam -- another $75 unsecured increase.

Has anyone else been given monthly $75 increases? I was considering running much more through the card and making two monthly payments.

Are these $75 increases from paying more on your Self Lender loan? I thought they only did increases in increments of $100. At least that is what I read when looking at the terms when I considered getting the CC for me or my SO. Or are these unsecured increases not attached to your payments on your Self Lender loan?

If they are from your payments on the loan, did you authorize it? If not, I would be a little upset because if I allocate $x to the card, I would expect the remainder of the loan returned to me once it is paid off. I wouldn't want the entire loan amount in the CC (I did the $1600 loan for SO).

If they are unsecured increases, I am definitely going to move ahead with getting the card for my SO.

Thanks for the DPs and congrats on your increases regardless where they came from!

Re: Self VISA unsecured CLI

Mr_Mojo_Risin — Fri, 25 Dec 2020 01:41:20 GMT

Thats great to hear you're getting some CLI love!! Congratulations!

Re: Self VISA unsecured CLI

cashorcharge — Fri, 25 Dec 2020 02:20:51 GMT

That's terrific!!! Congratulations!!🎉

Re: Self VISA unsecured CLI

CreditAggie — Fri, 25 Dec 2020 03:22:37 GMT

Congratulations on your Self Visa CLI!

Re: Self VISA unsecured CLI

M_Smart007 — Fri, 25 Dec 2020 03:40:04 GMT

Congratulations!🎄

Re: Self VISA unsecured CLI

Marz2002 — Fri, 25 Dec 2020 11:51:42 GMT

CONGRATS @FreedomHammer on your Self VISA auto unsecured CLI - Way To Go!!

Re: Self VISA unsecured CLI

FreedomHammer — Fri, 25 Dec 2020 12:42:24 GMT

The additional $75 is totally unsecured, and my funds were not touched.

I believe Self deducts from your secured credit line before they use the unsecured portion.

Re: Self VISA unsecured CLI

Anonymous — Sat, 26 Dec 2020 00:49:15 GMT

@FreedomHammer wrote:
The additional $75 is totally unsecured, and my funds were not touched.

I believe Self deducts from your secured credit line before they use the unsecured portion.

Thank you so much for the feedback!

Re: Self VISA unsecured CLI

Anonymous — Sat, 26 Dec 2020 01:53:29 GMT

@FreedomHammer wrote:
The additional $75 is totally unsecured, and my funds were not touched.

I believe Self deducts from your secured credit line before they use the unsecured portion.

Thank you so much for the feedback!

Re: Self VISA unsecured CLI

Meanmchine — Sat, 26 Dec 2020 02:56:57 GMT

Congrats on your CLI !

Re: Self VISA unsecured CLI

FreedomHammer — Sat, 26 Dec 2020 16:35:55 GMT

I was wondering what you said about Self VISA reporting the last day of the month. Does that mean they report whatever your balance is on the last day?

If I've charged ~$350, made a payment in full, say, first or second week of month and a week before last day of month, my balance is $7, will they report the $7 or the higher balance transacted earlier in the month?

I have a low score and am trying to not get penalized with the AZEO.

Re: Self VISA unsecured CLI

Anonymous — Sat, 26 Dec 2020 22:39:59 GMT

@FreedomHammer wrote:
I was wondering what you said about Self VISA reporting the last day of the month. Does that mean they report whatever your balance is on the last day?

If I've charged ~$350, made a payment in full, say, first or second week of month and a week before last day of month, my balance is $7, will they report the $7 or the higher balance transacted earlier in the month?

I have a low score and am trying to not get penalized with the AZEO.

They report whateber the balance is on last day of the month regardless of the what was on the dtatement when it cut.

Re: Self VISA unsecured CLI

Anonymous — Sun, 17 Jan 2021 02:43:26 GMT

ive started building my credit august 2019 i now have 9 credit accounts and my AAoA is 9months I applied for most of these accounts within the first 6 months 5 out of the 9 have given a cli but not self visa