topic Re: The CLI Itch: Does it ever end? in Credit Card Applications

The CLI Itch: Does it ever end?

Anonymous — Tue, 06 Jun 2017 19:44:06 GMT

I've only been actively involved in pursuing CLIs for less than a year now. Always SP CLIs, BTW, as I've never been willing to take a HP for one.

Like many on this forum, I don't really have any reason for CLIs at this point. My limits are already far greater than I would ever need. I never carry balances, so I have zero use for additional limits in terms of aiding aggregate utilization. The only reason I seek out CLIs, near as I can tell, is because I can. I guess I like the thrill of it and that sense of accomplishment when I get one. I'm sure there are others in the same boat as me here. It's kind of silly when I step back and think about it. The thrill of getting the CLI and/or accomplishment felt may only last a few days. Heck, sometimes just a few hours. Yet for some reason, it's worth it.

It's become more of a game to me I suppose at this point. Trying to figure out the best way to get a CLI (and the best CLI) based on spend/payment patterns, timing, etc. I find myself constantly moving my spends around from one card to another when I know a CLI opportunity is approaching in a few months. I probably miss out slightly on rewards as a result, at the expense perhaps of a greater CLI opportunity. I find myself once I receive a CLI on a card that I almost immediately start thinking about the next card that I'll be able to get a CLI on.

So, my question for everyone that's done this for over a year (perhaps much longer) is does the CLI itch ever go away? I know some people are this same exact way with applying for new cards, which no doubt can get one in trouble more than just going for SP CLIs on existing cards... but I guess the overall concept and "itch" is similar. I guess once one gets to the point where all of their cards are at their max CL relative to your profile and you basically can't get further CLIs, the "game" is essentially over? Or, do you just get bored of it eventually? Perhaps after a couple of years you just start getting tired of putting in the "work" of moving around your spend, micromanaging your accounts so much, etc? Since I'm relatively new to the CLI game, I'm very curious to hear about this subject from those that have been involved in it longer than I have.

Re: The CLI Itch: Does it ever end?

AverageJoesCredit — Tue, 06 Jun 2017 20:07:04 GMT

Nope, your right it does tend to gravitate to being a game , how much can i get before strike 3, its good and bad. The itch i think will remain just depends uf youll live with it or gets some creme

Re: The CLI Itch: Does it ever end?

MrsCHX — Tue, 06 Jun 2017 20:11:00 GMT

I'm approaching 18 months of rebuilding and sometimes I get bored and just click buttons on Synch and Comenity just to SEE! My bank cards are the ones with more predetermined "schedules" of CLIs.

I did decide that most of my Synch accounts are fine. I'll try to get Amazon and Marvel to $10k and Care Credit as high as I can. My other store cards (WM, TJMaxx, AE) are fine.

Okay wait, maybe I'll try to get TJ Maxx from $4k to $5k!

Re: The CLI Itch: Does it ever end?

Vegas4Play — Tue, 06 Jun 2017 20:11:32 GMT

For me it fills the void of not apping...I really dont ask for many CLI's now that I cant get over 26k from Discover I wanted and even 30K but oh well..

Re: The CLI Itch: Does it ever end?

bizarrocreditworld — Tue, 06 Jun 2017 20:13:32 GMT

I think there is more interest in getting a CLI for free through a SP (similar to getting a larger candy bar for the same price) rather than getting a CLI through a HP (similar to a king size candy bar costing more than a regular candy bar). There's also an element of either comeraderie or "keeping up with the Jones family" (depending on your point of view) that is common in the stories we tell (hey, if he got a CLI with that FICO score, I should be able to get better with mine).

Just my two cents on this topic. (Congratulations, your two cents is now worth three!)

Re: The CLI Itch: Does it ever end?

Anonymous — Tue, 06 Jun 2017 20:15:32 GMT

IDK...I think for me, having a large amount of available credit makes me feel accomplished and comfortable whether I use it or not. The funny thing is, I was doing ok when I had just 20k in available credit...funny....

Re: The CLI Itch: Does it ever end?

Anonymous — Tue, 06 Jun 2017 20:44:48 GMT

@Anonymous.

For me, gardening has helped in regards to not seeking CLIs. Only temptation for me recently has been BoA, but my reports are frozen, so it is a moot point. The goal that I established when I entered the garden was to get my reports in order to try again for credit products with either NFCU and/or PenFed, but after 6 months, I don't know that even that is a goal any longer.

I now see that NFCU and PenFed have become a challenge for me because I was turned down by them, but reality for me now is that even if I got approved, my income is limited, so it probably would only be a nominal approval.

Like you, I have more than enough available credit, so I think I would like to see all my INQs gone, but if I asked for CLIs with BoA or Amex, then that requires a HP, so I guess I just will have to be happy with what I got.

Have a great day....and thanks for the great question.

Re: The CLI Itch: Does it ever end?

Anonymous — Tue, 06 Jun 2017 21:17:49 GMT

Thanks for the replies thus far, everyone.

I think the pursuit of CLIs and/or higher limits can be likened to the pursuit of a higher credit score in many ways. Someone may have a $2000 limit card and may set a goal initially to get it to $5000. Once they hit $5000, maybe it's to take it to 5 figures. Same thing with credit scores. Someone may reside in the 600's and have an initial goal of 700. Then 750 across the board. Then the coveted 800. I think similar to an offensive drive in the NFL, the initial goal is to simply move the sticks for a new set of downs, but the ultimate goal for the possession is a touchdown of course.

While unwritten, I've sort of set top-line goals for all of my cards. I often wonder if when I reach those limit goals if I'll simply push the goal out some more, or if I'll actually be "satisfied" with where I've taken the card.

I think my only reference point for this is my Lowe's card, which prior to apping I set a goal of $30k for based on reading a ton of Lowe's threads on this forum and comparing my profile to those with ~$30k limits. Last June I was approved with a $3k limit, called CS and got it bumped up to $30k instantly. Goal achieved immediately. It's been almost a year and I have not attempted to push that limit past $30k, even though I know for a fact I could take it to $35k (as many others have) with another phone call. I'm hoping that I feel the same way with my other cards once I get to the limit I've sort of been striving for.

I'm hoping that the thrill of CLI chasing does eventually wear off, or that I simply reach my goal limits set prior in my mind. I'd like to not have to think about CLIs any longer and just use my cards for rewards-maximizing purposes more naturally and less micromanged. I think I'm on my way... but who knows, right?

Re: The CLI Itch: Does it ever end?

Anonymous — Tue, 06 Jun 2017 21:49:02 GMT

I believe that as long as you set goals that are right for you personally, rather than feel that you have to shoot for the higher limits because everyone else is doing it, you can't go wrong.

As Polonius said,"This above all: to thine own self be true, and it must follow, as the night, the day, thou canst not then be false to any man."

Re: The CLI Itch: Does it ever end?

Loquat — Tue, 06 Jun 2017 22:03:42 GMT

Stop coming by this forum as much...find something else to do. As strange as it may be, that's honestly what has helped me. This forum and the fine folks here are a wealth of information and has helped me tremendously in my journey. But, when I finally decided that I was done chasing increases and app'ing for new card, I stopped coming here as much. When I don't think about or spend my time with like minded folks (regarding credit) it wasn't to terribly hard to let it go. The first few weeks were hard because I had the temptation check out the forum from my cell phone or while I was at work...but once I finally let it go and started doing other things besides coming home and plopping in front of the computer to read this site for hours on in, the urge and itch slowly faded away. In April I applied for NFCU because I heard that the window of opportunity was closing and I wanted to have them around long term and like we all know, that window did close and I'm happy I decided to pull the trigger when I did.

Now I have no desire to add any additional cards or increase my limits as they're far greater than I can ever use and honestly, I can only spend on credit card as much as my salary allows...and the limits I have far exceed what I could reasonably pay back so there's no need for me asking for increases regardless of SP or HP.

Like it'd probably be a good idea for an alcoholic to avoid bars and folks who drink, avoiding this place and the folks that speak about credit all day should certainly help you to not think about credit limits and new cards. I still pop on here every now and again...I'll answer a question if I can or comment if I have something to add...I don't read the Approval section too much because like I mentioned, it only serves to stir the thought of wanting an ask for an un-needed increase or another card that I don't need. I do like to read the Auto Loan section when I'm on the forum because I enjoy reading about the new set of wheels that folks are picking up. And because changing cars isn't as temping as it is to app for a credit card or increase, reading about others success doesn't even remotely make me want to buy another car.

Best of luck to you BBS...as you're not alone...I to had the same feeling as you and I was able to overcome it...and happy I did. Worrying about which card to use, what limit to increase, the next card to app for, to pay or not to pay before the statement cuts, in its own right was a form of stress for me that I'm happy to not have to deal with anymore.

Re: The CLI Itch: Does it ever end?

Anonymous — Wed, 07 Jun 2017 00:03:22 GMT

Good call on visiting the forum less. I spend the majority of my time on this forum in sections that aren't related to CLIs, such as the FICO scoring area. Being around it though I'm sure does have some sort of impact on me continuing to pursue CLIs. I do feel I'm pretty close to being "done" however. At most I'm a 20%-25% increase away on a couple of cards from being at my "goal limit" that I set from the start on those cards, which isn't all too much and I would think will be accomplished by year end.

Re: The CLI Itch: Does it ever end?

Anonymous — Wed, 07 Jun 2017 00:10:12 GMT

I used not worry so much about limits and cli . DW limits per card run around 10K to 15K per card. Mine only 3K to 7K. We almost always pay in full. Then this year 1) first storm damge not covered by insurance 2) second storm storm damage not covered by insusrance 3) then dw car repair The repair bill itself is only about $500 but she has had to get a rental now for 3 months and now 4) on one of our biz contracts the prime (we are the sub) has been slowing paying us over 15K in pass through costs that are now 90 days late. This has pushed dw % util to 9% and mine to 20% utilz. This makes me want cli just for protection and padding. I plan to ask Citi Dc for higher limit as it hits 6 months in 3 weeks. I think in 45 days I will be back to 1% utilz.

Re: The CLI Itch: Does it ever end?

joltdude — Wed, 07 Jun 2017 00:19:44 GMT

I kinda subscribe to the goailpost analogy with the end game being a touchdown...

That said.. I still have a goal of my prime cards being at least 5k.. and now the 16300 i want to get to 18k. then full stop. It gives me enough of a buffer... Yes i am really annoyed with accounts that are like 5200 4300 and such.. my goal is still the 5k goalpost. But im done.. it didnt take me many pulls and i have what i need mostly... I do want rewards for stuff not covered elsewhere but theres no rush..

The desire for a CLI has slowed down.. just inches away from the peak...

-J

Re: The CLI Itch: Does it ever end?

AverageJoesCredit — Wed, 07 Jun 2017 00:29:59 GMT

I think ive accomplished quite alot considering my income. Cli hunting can be fun but i find myself looking to really get my bank cards to a nice enough level that i can start scaling back. I kinda like the mantra of having an Amex Disco Viss and Mc. Throw in a store card that can be of great use and i think i can find Valhala. I appreciate Navy for giving me that chance and hopefully can crack 10k. Now if i did that and could get Penfed to match that id drop 4 or 5 cards stat even if it meant losing cl.

Re: The CLI Itch: Does it ever end?

Anonymous — Wed, 07 Jun 2017 01:41:30 GMT

It's more important to crack 5000 and 10,000 marks then it is to crack a 30,000 mark. If you can score a 30000 limit you can qualify for any number of cards with awesome Rewards and reap on Extreme levels.

That being said most people that sign up for these forums and read, and/or ask advice are trying to help their situation, not just get on and brag that they never did anything wrong with a boasting signature, full of visa sigs. If you've never done anything wrong of course you don't need to worry about inching your limits up every month or so with padding.
The endgame is to have a credit portfolio that looks like nothing ever happened in the first place…

Re: The CLI Itch: Does it ever end?

Meanmchine — Wed, 07 Jun 2017 01:57:40 GMT

@BBS " I guess I like the thrill of it and that sense of accomplishment when I get one."

HELL YES !!

Re: The CLI Itch: Does it ever end?

Anonymous — Wed, 07 Jun 2017 02:30:44 GMT

I didn't have any credit cards in January with my 520 FICO 8 scores. and I have already have gotten to the stage where I think applying for CLIs are pointless. I am only worried about getting rewards cards now with sign up bonuses . CLI dont' do anything for me as I got plenty of credit lines.

Once my NFCU was raised to 22k and wife got a new card and added me as an authorized with 27k limit I am well over 100k. I don't see the point to trying to get nickle and dime Credit limit increases. I figure in two months all my reports should be over 720 and then the fun of applying will be over as well I will already know I will be approved.

Getting Credit Line increases is fun when it improves your score but with a less than 5 percent utilization there is really no reward to getting the CLI. Getting 550 dollar sign-up bonus or getting 60,000 point sign up bonus from Southwest is where the action iis these days.

Re: The CLI Itch: Does it ever end?

pipeguy — Wed, 07 Jun 2017 03:35:13 GMT

For me? yeah I'm pretty bored with it due to getting all but 2 of my cards into 5 figure range. I'm sure I'll punch the button another time or two on my BoA cards just because they seem to go really high, but frankly anything over $20k is all ego for me and I've already exceded that on a handful of cards. I'm actually looking to close a bunch of cards over the next year or two before I retire.

Right now my goal is to make "Senior Contributor" before my 6 year date on these forums (in October this year) - after that my life is "complete"

Re: The CLI Itch: Does it ever end?

Anonymous — Wed, 07 Jun 2017 02:59:45 GMT

What exactly constitues a Senior Contributor? lol

Backwoods, definitely let me know how that Citi DC CLI works out for you. What is your current limit (is that your SL or have you already received a CLI?) and what are you anticipating CLI-wise? My DC is the only sub-5 figure limit I have that I'd like to reach $10k, so any datapoints I can find on the subject are of great use.

Re: The CLI Itch: Does it ever end?

austinguy907 — Wed, 07 Jun 2017 04:57:00 GMT

I'll try to keep this short but no promises!

When you're starting out or recovering from a BK your goal is to get into a couple of places to get the ball rolling again and hitting a 650 or higher and aiming for a $5K limit somewhere. Some of us stumbled and tripped over our own feet trying to figure out how to get there taking the long road of apping and churning until we hit that magic formula.

If by chance we ended up on here eventually and started reading we could put the science into the magic sauce and get there quicker w/ less stumbles. However some find this place and find out about the SCT that satiates that app urge without the HP traumatic experience we feel when building our fresh/damaged profiles.

So, we eventually hit that 5K/650 combo and we think we're stellar again and go on an app spree and get the door slammed in our face about 50% of the time. We study up some more and wait a few months and do it again.

Fast forward a year or two and we're settling down a bit into a more controlled manner of managing and getting addtional credit. Scores are hovering around 700 and limits between 5-10K. We start thinking more about cards that have been out of reach up until now and since we've had our hands slapped on the HP's in the past we look for cards like Synch / Comenity / Disco / AMEX that offer SP's all of the time. Of course we get bold and hit up AMEX / Disco and sometimes get in and usually just get denied if there's a stale BK on our reports so we go shooting fish in a barrel and pick up some cheap plastic from S/C. We max the limits on those because we figure out they're not going to HP and we can go up to 25-35K w/o providing a 4506.

So, we've got our golden CL's with sorted industry providers but, hey our reports show 25K limits on a couple of accounts. We finally hit the profile that the big boys are looking for because we figuered out how to get that stimulus from SP CLI's and stopped apping in the meantime to get our inq's down low enough to be considered for 2-3 cards on an app spree of 5-7 potential candidates.

So, we ask around here and read up again on our prey trying to figure out who and which order we need to HP on to get our foot in the door. We get into 2-3 of them and chalk it up to a win and set some reminders to hit that button.

So, after many years of ramping up from the FP/Cr1 and so on predatory lenders to mediocre lenders like synch/com/crap1 we're several years into it and finally breaking the ceiling we've been held under into chase/boa/amex/disco/WF/etc. We finally get those 5 digit SL approvals. Things have slowed down and we've churned a few cards enough to know some of the nuances of the processes to max CL's and reduce card counts. We're still leery about some lenders and if they'll AA us somehow for doing something like adding a card to the collection or see us closing another card for some reason.

So, 3-5-7 years into the process we're focusing on habits we've build through the process of building/recovering. There's this engrained notion that we have to keep betterig ourselves in the credit realm because we don't want to be at the bottom of the pile where we started out. Once we hit the 5-7-10 or more years it's just a habit we've trained ourselves to get into. Eventually we figure out how to get what we want and when we want it. We hit those benchmarks of 5/10/15/20/25/30/40/50K or more.

Then there's that whole 50K+ territory or the mythical 100K/200K/500K/1M TCL we see some around here sporting. To think back to when we were stuck with that crappy little $300 or less even card we started out with at the begining. Reflecting back on that makes some pause and think about it..... Then there's the few of us that say to hell with that and keep aiming for 300K combined limits

Personally it's more about gathering DP's to help others if I can possbly help someone out in their pursuit of coming up with a rock solid portfolio and some ideas on how to get there then it's all worth it. For instance DP's collected on my own experience for the first year with Disco shed some light on the card that not many would consider to be a high roller. Pushing it from the measily $4500 to a massive $48K limit in just over a year. Putting together some tracking info on how to get the CLI process rolling and comparing different profiles ranging from scores, spend, payments, etc.

With the time and experience I've had over the years with very little info posted I can usually eyeball someones profile pretty well with some good accuracy. Being able to read between the lines and fill the gaps proves helpful to some. Anyway I digress now since this has turned into a bit of a ramble at this point. I think I'm close to not pushing the CLI's any longer though the temptation will be there every once in awhile to do so. I have dumped some of the easier SP lenders this week and picked up 2 of the HP lenders between Chase and BOA. I also breached the 250K threshold and trimmed 3 accounts in the process to have a net account # gain of 0 with the replacements.

Summary:

Once you get to the milestone you need to be at and aren't worried about a decline on a purchase / dining out / emergency spend.... then you tend to not focus as much on the CLI because you're comfortable with your limit.

For the addicted.... well, that's going to be more of a challenge and you should probably let someone change your MF password and not give it to you