topic Re: C1 Secured Plat CLI denied in Credit Card Applications

C1 Secured Plat CLI denied

Anonymous — Fri, 07 Oct 2022 02:26:38 GMT

Received a letter;

·A credit limit increase on your account is not currently available upon request

·Unsecured credit line increases are not available upon request on Secured Card accounts

·Credit line increases are not available at this time upon request for this type of account

My very 1st card, 1yr 6months now, got auto CLI of 200 at 6 months. Should've applied for other ones like Disco/BA/USB, those would've graduated already. Even denied closing the account lol.

P.S. To think of it asking CLI was silly on Secured lol, unless you fund it. But still galling, not getting graduated. For example Disco secured;

'After 7 months, we begin automatic monthly account reviews to see if you qualify to convert to a standard, 'unsecured' card and get your deposit back'

Re: C1 Secured Plat CLI denied

FireMedic1 — Fri, 07 Oct 2022 11:58:34 GMT

What did you do to get this type of responce?

Re: C1 Secured Plat CLI denied

Anonymous — Fri, 07 Oct 2022 16:07:15 GMT

Silly I know but requested CLI on secured 😆 Oldest card, wanna get it graduated or close

Re: C1 Secured Plat CLI denied

OmarGB9 — Fri, 07 Oct 2022 17:41:22 GMT

When did you open this secured card? They may not have been graduating cards when you got it, and unfortunately, that means it won't ever graduate, even if they're doing it now.

Re: C1 Secured Plat CLI denied

Anonymous — Fri, 07 Oct 2022 17:45:18 GMT

@OmarGB9 wrote:
When did you open this secured card? They may not have been graduating cards when you got it, and unfortunately, that means it won't ever graduate, even if they're doing it now.

yeah you're probably right, my oldest and 1 yr 6 months. Got auto CLI of 200 after 6 months, then barely used it. Tried to close but they denied it too lol.

Re: C1 Secured Plat CLI denied

OmarGB9 — Fri, 07 Oct 2022 20:08:21 GMT

@Anonymous wrote:
@OmarGB9 wrote:
When did you open this secured card? They may not have been graduating cards when you got it, and unfortunately, that means it won't ever graduate, even if they're doing it now.
yeah you're probably right, my oldest and 1 yr 6 months. Got auto CLI of 200 after 6 months, then barely used it. Tried to close but they denied it too lol.

They can't deny you a closure. Call again.

Re: C1 Secured Plat CLI denied

Anonymous — Sun, 09 Oct 2022 04:59:29 GMT

Tried it again, and it went though online! Closed it. Did I do wrong, since am going to app for WF and Barclay next week, but the records stays for 10yrs, so it might not matter(since they seem to consider acct yrs: my oldest one, 1.6 yrs, 4 months earlier than Citi)?

Re: C1 Secured Plat CLI denied

FinStar — Sun, 09 Oct 2022 05:48:57 GMT

@Anonymous wrote:
Tried it again, and it went though online! Closed it. Did I do wrong, since am going to app for WF and Barclay next week, but the records stays for 10yrs, so it might not matter(since they seem to consider acct yrs: my oldest one, 1.6 yrs, 4 months earlier than Citi)?

AAoA [FICO] metrics are not impacted by the closure until the account drops off your CRs. This simply reduces the total available credit by the closure which may or may not impact your overall utilization depending on what you have reporting currently.

Re: C1 Secured Plat CLI denied

AndySoCal — Sat, 15 Oct 2022 02:43:46 GMT

@Anonymous Looking at your siggy IMO you do not need the card close it. You can put the money to better use. You are correct if you a credit limit increase on a secured card up the deposit amount that is that is securing it. For example lets say a consumer got a $100 CLI to a $600 credit limit so what do you have after the CLI? A semi secured credit card ???? So, if the account were to go bad with $550 ($500 is secured by the deposit and $50.00 is unsecured)

Re: C1 Secured Plat CLI denied

Anonymous — Sat, 15 Oct 2022 04:05:14 GMT

@AndySoCal wrote:
@Anonymous Looking at your siggy IMO you do not need the card close it. You can put the money to better use. You are correct if you a credit limit increase on a secured card up the deposit amount that is that is securing it. For example lets say a consumer got a $100 CLI to a $600 credit limit so what do you have after the CLI? A semi secured credit card ???? So, if the account were to go bad with $550 ($500 is secured by the deposit and $50.00 is unsecured)

Thx I already did! Figured I need money back lol, waiting for it

Re: C1 Secured Plat CLI denied

raisemysc0re — Sat, 15 Oct 2022 11:53:52 GMT

Closing account does not immediately affect your AAoA as it stays on your report for about 10 years. But does it affect yoour AoOA?

Is Oldest account calcuated against closed accounts as well?

Re: C1 Secured Plat CLI denied

USMC_Winger — Sat, 15 Oct 2022 23:46:35 GMT

@raisemysc0re wrote:
Closing account does not immediately affect your AAoA as it stays on your report for about 10 years. But does it affect yoour AoOA?
Is Oldest account calcuated against closed accounts as well?

AoOA includes both open and closed credit accounts on your credit report.