topic Re: Surprising and unexpected auto CLI in Credit Card Approvals

Surprising and unexpected auto CLI

Roadgeek395 — Wed, 07 Sep 2022 01:38:48 GMT

A bit of a back story...

A little over a year ago I tried to refinance my auto loan through consumers credit Union. I was preapproved for a low APR so I decided to go with it. When they did a hard pull they ended up turning down my loan request. I was pretty bitter about the situation but I didn't want to waste a hard pull so I decided to give them a call and see which credit cards they would approve me for. They ended up approving me for a no frills Visa platinum card and I accepted it for a fairly low SL of $3000.

After receiving the credit card I regretted accepting their offer because it was an unnecessary and unneeded credit card.

I never used the card and I just assumed they would cancel it due to inactivity. Well fast forward to yesterday and I got an alert from Experian saying I had had a limit increase on one of my credit cards. Consumers credit Union decided to give me a $7000 CLI for a new limit of $10,000🤯🤯

My mind was blown but I am definitely grateful.

Re: Surprising and unexpected auto CLI

Stealth-1 — Wed, 07 Sep 2022 02:37:21 GMT

Congrats on the unexpected 7K soft pull CLI!

Re: Surprising and unexpected auto CLI

M_Smart007 — Wed, 07 Sep 2022 02:40:10 GMT

Congrats on your surprise Auto-CLI

Re: Surprising and unexpected auto CLI

NoMoreE46 — Wed, 07 Sep 2022 02:41:35 GMT

That is a heckofva a surprise increase. Did you use this card at all?

Re: Surprising and unexpected auto CLI

M_Smart007 — Wed, 07 Sep 2022 02:44:20 GMT

@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

@NoMoreE46, Some credit unions will give you an auto CLI, as an incentive to actually use the card.

Re: Surprising and unexpected auto CLI

Roadgeek395 — Wed, 07 Sep 2022 02:46:36 GMT

@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

Not even once! That's the weird part!!

Re: Surprising and unexpected auto CLI

Roadgeek395 — Wed, 07 Sep 2022 02:47:47 GMT

@M_Smart007 wrote:
@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

@NoMoreE46, Some credit unions will give you an auto CLI, as an incentive to actually use the card.

That's what I was thinking too.

Re: Surprising and unexpected auto CLI

M_Smart007 — Wed, 07 Sep 2022 02:49:46 GMT

@Roadgeek395 wrote:

@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

"Not even once! "That's the weird part!!

And there you have it

Re: Surprising and unexpected auto CLI

M_Smart007 — Wed, 07 Sep 2022 02:54:16 GMT

@Roadgeek395 wrote:
@M_Smart007 wrote:
@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

@NoMoreE46, Some credit unions will give you an auto CLI, as an incentive to actually use the card.
That's what I was thinking too.

This is the difference between credit unions vs banks.

Credit unions will sometimes give you a CLI for incentive for non-use, and banks will CLD or close.

Thus part of my reasoning towards more credit unions in the portfolio.

Re: Surprising and unexpected auto CLI

Roadgeek395 — Wed, 07 Sep 2022 02:58:07 GMT

@M_Smart007 wrote:
@Roadgeek395 wrote:
@M_Smart007 wrote:
@NoMoreE46 wrote:
That is a heckofva a surprise increase. Did you use this card at all?

@NoMoreE46, Some credit unions will give you an auto CLI, as an incentive to actually use the card.
That's what I was thinking too.
This is the difference between credit unions vs banks.
Credit unions will sometimes give you a CLI for incentive for non-use, and banks will CLD or close.
Thus part of my reasoning towards more credit unions in the portfolio.

I completely agree! Credit Unions all the way! The only 2 credit cards I have from a big bank are the citi double cash card and the citi premier card

Re: Surprising and unexpected auto CLI

NoMoreE46 — Wed, 07 Sep 2022 03:05:42 GMT

Not even once @Roadgeek395 !

Are you planning to use this $10,000 card now?

@M_Smart007

Maybe you ought to change your user name to: So_Wicked_Smart.

Re: Surprising and unexpected auto CLI

M_Smart007 — Wed, 07 Sep 2022 03:09:57 GMT

@NoMoreE46 wrote:
Not even once @Roadgeek395 !
Are you planning to use this $10,000 card now?

@M_Smart007
Maybe you ought to change your user name to: So_Wicked_Smart.

Not sure about the name change? ....

But I would definately use that card now

Re: Surprising and unexpected auto CLI

Roadgeek395 — Wed, 07 Sep 2022 03:17:19 GMT

I definitely don't want to lose a card that has a decent limit but it's still a no frills card so🤷‍♂️

Re: Surprising and unexpected auto CLI

babygirl1256 — Wed, 07 Sep 2022 09:55:52 GMT

Congrats on your Visa Platinum Card auto-CLI.

Re: Surprising and unexpected auto CLI

nytokyobred79 — Wed, 07 Sep 2022 12:02:36 GMT

Congrats on your CLI. Maybe you'll give it a first swipe? Hehe

Re: Surprising and unexpected auto CLI

arifjk — Wed, 07 Sep 2022 13:44:58 GMT

That's a nice surprise. Congrats!!

Re: Surprising and unexpected auto CLI

SDMarik — Wed, 07 Sep 2022 13:58:35 GMT

Congrats on the $7k cli!!

Re: Surprising and unexpected auto CLI

coreyb80 — Wed, 07 Sep 2022 13:59:36 GMT

Congrats on the increase!

Re: Surprising and unexpected auto CLI

MartyWrite75 — Wed, 07 Sep 2022 22:34:00 GMT

Congratulations on your massive CLI! Awesome!

Re: Surprising and unexpected auto CLI

KingRue8500 — Thu, 08 Sep 2022 00:24:06 GMT

Congrats on your Consumers CU Visa Platinum approval