topic Is there a better time of the year for CLI requests? in Credit Card Applications

Is there a better time of the year for CLI requests?

raisemysc0re — Sat, 12 Dec 2020 00:07:27 GMT

I saw this study that states it is better to ask for CLIs at the beginning of the year:

https://www.creditcards.com/credit-card-news/transunion-study-credit-line-increases/

Is this true?

Re: Is there a better time of the year for CLI requests?

FinStar — Sat, 12 Dec 2020 00:40:34 GMT

@raisemysc0re wrote:
I saw this study that states it is better to ask for CLIs at the beginning of the year:
https://www.creditcards.com/credit-card-news/transunion-study-credit-line-increases/
Is this true?

Interesting read. If you notice, the article appears to have been published almost two years ago and based on a limited population study from 2015/2016. A lot of things change in the world of CC originations year-to-year. Of noteworthy, within the same paragraph, it also states "However, they’re also twice as likely to receive credit line decreases during January." 🤷‍♂️ The TU study, despite the controlled population and refined data, doesn't seem to make a distinction on whether the CLIs are for mature accounts or newer accounts.

If you look at the current economic conditions, a variety of lenders have tightened the reins to some extent. That said, CLIs are still taking place based on reported DPs in the Approvals section of the forums. So, potentially you can request a CLI in January and be denied, and if you retry in May (or later) and be approved, all depending on your individual profile and other factors.

Re: Is there a better time of the year for CLI requests?

Anonymous — Sat, 12 Dec 2020 04:04:21 GMT

I'm just one person, but having received probably 15 CLIs across my accounts in the last 3 years I can say there has been no correlation between CLI success and time of year.

Re: Is there a better time of the year for CLI requests?

Heatt99 — Sat, 12 Dec 2020 17:08:09 GMT

Well that was in 2016, and here we are in modern Covid, going through post-Covid.

While lending can be a cycle, each lender has their process for profit. IMO, the article does have some interesting non-stated data.

* Most consumers use credit during the holidays; balance transfers are needed.

* Tax season is in session, most will use their cards, then recover with returns.

* Wise consumers control their lending, and need a little push via utilization control.

* Forecast within the 1st QTR of the year better suit Shareholders, or their will be change at the TOP!!!