topic Re: Do companies restrict CLIs to what you request or can they go higher/lower? in Credit Card Applications

Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Mon, 16 Dec 2019 03:36:49 GMT

I know this sounds like a very basic question but oddly with a few Google Searches, I oddly can't find a definite answer.

If you ask a CC CO such as FNBO like I did, and you say "I'd like at least 1k more", do they actually limit themselves to that or can they go "We looked at all your info and decided $1,500" or something? I assume they probably could go lower like "We feel we only should give you $650" or something.

I really like the offers my FNBO Platinum MC is offering and I could use 1k more to move some debt around but didn't want to give a crazy number for CLI past 1K like 30K that might get denied, so I settled on 1K but it would be nice if they were like $1,200, 2K, or whatever.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Mon, 16 Dec 2019 03:40:59 GMT

As a general rule ask for three times the current credit limit for your account. So if your current CL is $1,000 you can comfortably as for $3,000. The lender will either grant your request or counter with a lower amount they feel comfortable granting you.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Mon, 16 Dec 2019 04:26:01 GMT

@Anonymous wrote:
As a general rule ask for three times the current credit limit for your account. So if your current CL is $1,000 you can comfortably as for $3,000. The lender will either grant your request or counter with a lower amount they feel comfortable granting you.

Thanks again for the info!

I am somewhat new to all this BT & CL stuff, I normally just let the CC CO set the limit and do auto CLIs.

I guess I will see what happens as I had to wait until last Fri to even try because they ended up doing an auto one in Aug and it blocked me from even trying for one until then. Oddly CS said 12/15 but it allowed me to try 12/13.

I don't want to run up any uncessary debt and due to some current offers on my other cards I don't even want to do any more BTs for at least a few months, but I'd like the freedom to move anything left from any 0% APR offers to my FNBO 6.99% because even though 6.99% is worse than 0%, it's sure better than 19-26% my various cards have after 0%.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

HeavenOhio — Mon, 16 Dec 2019 05:44:41 GMT

Some banks don't ask you to submit an amount. They simply give you as much as they can. A variation of this would be to allow you to ask for "as much as you can give me."

Capital One might not pay a lot of attention to the amount you request. I've had them offer me more than my request on two occasions.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Mon, 16 Dec 2019 05:52:56 GMT

@HeavenOhio wrote:
Some banks don't ask you to submit an amount. They simply give you as much as they can. A variation of this would be to allow you to ask for "as much as you can give me."

Capital One might not pay a lot of attention to the amount you request. I've had them offer me more than my request on two occasions.

Thanks for the info!

I am hoping they will do like CO and do like 2K+.

The bare minimum I want to feel comfortable is 1K as then I have wiggle room to possibly put any left over scraps from the cards that only give a temporary promo.

I know I could make my life easier and transfer everything to FNBO to just be one massive payment if they gave me enough of a CLI but Citi Simplicity & Chase Slate are only on the 3rd month each of 0% APR for 15/21 months so it seems silly to move it immediately.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Tue, 17 Dec 2019 22:20:59 GMT

Well I guess that I am either going to have to wait until I pay more of my BT's off on my FNBO and probably also Chase & Citi, because they denied it from saying my balances on cards are too high.

Luckily I will have a lot more paid off in the 4 months they require you wait after trying for a CLI.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Wed, 18 Dec 2019 15:21:37 GMT

@Anonymous wrote:
As a general rule ask for three times the current credit limit for your account. So if your current CL is $1,000 you can comfortably as for $3,000. The lender will either grant your request or counter with a lower amount they feel comfortable granting you.

Third option is laugh in your face (deny you outright) although I suppose technically $0 is a lower amount. That's the one I generally get.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Wed, 18 Dec 2019 21:03:47 GMT

I am very confused......

I was told by multiple CS Agents that my request for a CLI was denied.

Yet, I was checking my online account to verify some info like what my payment is and stuff.

I now have +3K CL for a total of $8,050.

I am rather confused why I was told I was denied yet have gotten a CLI.......At least 2 agents told me their system said my balances/payments are too high right now and I can't get a CLI.....

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

FinStar — Wed, 18 Dec 2019 22:13:49 GMT

Well, it appears the CLI results ended up in your favor.

Did you have the request processed via HP?

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

Anonymous — Wed, 18 Dec 2019 22:20:11 GMT

@FinStar wrote:
Well, it appears the CLI results ended up in your favor.

Did you have the request processed via HP?

Yes, they told me based on my current information it wasn't enough to just do an SP.

Actually for some reason it ended up doing two HPs but both FNBO & Experian said they were working to remove the second one.

Re: Do companies restrict CLIs to what you request or can they go higher/lower?

FinStar — Wed, 18 Dec 2019 22:24:33 GMT

Ok that makes sense. It's possible that during the initial (SP) review the account didn't have any offers for a CLI while the HP(s) may have yielded the favorable results.

Congrats on the CLI either way. Locking this thread as you have indicated the successful CLI. Feel free to start a new [CLI] approval thread in the Approvals forum if you would like to do so.