topic Re: Unsolicited CL increase on sock drawer card in Credit Card Approvals

Unsolicited CL increase on sock drawer card

Kforce — Wed, 27 Nov 2024 19:59:50 GMT

Just received an unsolicited $18,000 CL increase on a sock drawer, keep alive card.

" Wescom Credit Union" - Visa

Proof that spend is not that important for some institutions.

Re: Unsolicited CL increase on sock drawer card

Rdbeetle — Wed, 27 Nov 2024 20:22:12 GMT

Wow! Congrats!!!

Re: Unsolicited CL increase on sock drawer card

Snook_on_the_Line — Thu, 28 Nov 2024 01:10:49 GMT

That's quite the cli. Congrats.

Re: Unsolicited CL increase on sock drawer card

Snook_on_the_Line — Thu, 28 Nov 2024 01:11:35 GMT

Did you have a big increase in income or scores since getting the card?

Re: Unsolicited CL increase on sock drawer card

MarkintheHV — Thu, 28 Nov 2024 10:48:40 GMT

Are you going to bring it out of the sock drawer now?

Re: Unsolicited CL increase on sock drawer card

NoMoreDebt — Thu, 28 Nov 2024 13:31:23 GMT

Congrats

Re: Unsolicited CL increase on sock drawer card

yam1rts — Thu, 28 Nov 2024 15:51:00 GMT

@Kforce wrote:
Just received an unsolicited $18,000 CL increase on a sock drawer, keep alive card.
" Wescom Credit Union" - Visa
Proof that spend is not that important for some institutions.

Congratulations, what was your previous line?

Re: Unsolicited CL increase on sock drawer card

Kforce — Thu, 28 Nov 2024 16:52:09 GMT

Looks like I should have supplied a lot more info.

Card is ~25 years old.

CL was $5000.

Rewards are 1 point per dollar and worth ~0.7c when used for gift cards, etc. (Almost worthless)

Put $5-$10 every 4-6 months, keep alive sock drawer for card age.

Both income and scores are very different today than 25 ago.

Just out of the blue this statement, new much larger CL.

No email or letter, maybe later this week!

Rewards are almost worthless, so won't really be changing my spend on the card,

however nice for the CL to be reasonable for my Ficos and income.

Will admit having a 5k CL with everything else much larger did look strange,

did not blame them or ask for more with no spend.

It was a nice, unexpected gift from the CU.

Maybe it was 25 years of membership or some other unknown threshold.

Re: Unsolicited CL increase on sock drawer card

JoeRockhead — Fri, 29 Nov 2024 16:02:35 GMT

Outstanding, congratulations!

Re: Unsolicited CL increase on sock drawer card

SRT4kid93 — Fri, 29 Nov 2024 22:47:17 GMT

Hold on, just to clarify, the increase itself was 18,000? Or did you mean 18,000 is your new credit limit?

cause an 18,000 increase is very large. Even if your previous limit was 30,000 that's still almost 66%

Re: Unsolicited CL increase on sock drawer card

cashorcharge — Sat, 30 Nov 2024 17:26:00 GMT

The best kind of CLI....Congratulations on your Approval!!👏🏼🍾🥂

Re: Unsolicited CL increase on sock drawer card

firefox100 — Sun, 01 Dec 2024 02:44:19 GMT

Congrats way to go the computer must had some love for you.

Re: Unsolicited CL increase on sock drawer card

Kforce — Sun, 01 Dec 2024 17:24:31 GMT

@SRT4kid93 wrote:
Hold on, just to clarify, the increase itself was 18,000? Or did you mean 18,000 is your new credit limit?

cause an 18,000 increase is very large. Even if your previous limit was 30,000 that's still almost 66%

Yes increase of $18,000 but if you look at it by the age = (18000/25) = $720 a year.

Re: Unsolicited CL increase on sock drawer card

CreditAggie — Mon, 02 Dec 2024 07:18:51 GMT

Congratulations on your auto-CLI!

Re: Unsolicited CL increase on sock drawer card

zerofire — Mon, 02 Dec 2024 13:55:54 GMT

Congratulations on your new found liquidity!

Issuers usually try to do stuff to catch the card holders attention, especially credit unions. My guess is that out of all of the things this CU had available they noticed that they were not helping you as much as they could so they jacked up the credit line. They cannot usually change the rewards because of a lack of that kind of control. They are trying. The best part is that it was unsolicited.