topic Credit Line Increase Frequency in Credit Card Applications

Credit Line Increase Frequency

CenturionBound — Wed, 29 May 2024 18:28:34 GMT

Hi all,

So I have the following cards:

Personal: 3 Chase, TD Bank, Navy FCU, BofA

Business: 3 Chase, BofA, AMEX Blue

My question is: is it OK to request credit line increases every 6 months ALL AT ONCE at all banks? Or should i spread the requests at different times?

Ex. I request a CLI on BofA, Chase, TD and Navy FCU all on the same day - would that be an issue or affect my ability to get approved for the CLI's for different banks?

Thanks in advance!

Re: Credit Line Increase Frequency

GZG — Wed, 29 May 2024 20:16:32 GMT

@CenturionBound wrote:
Hi all,

So I have the following cards:
Personal: 3 Chase, TD Bank, Navy FCU, BofA
Business: 3 Chase, BofA, AMEX Blue

My question is: is it OK to request credit line increases every 6 months ALL AT ONCE at all banks? Or should i spread the requests at different times?

Ex. I request a CLI on BofA, Chase, TD and Navy FCU all on the same day - would that be an issue or affect my ability to get approved for the CLI's for different banks?

Thanks in advance!

other than TD, I'd check to see if their CLIs are HP or not

requesting CLIs with BoFA, Chase and Navy is a great idea.

the only downside is that you may reach your maximum unsecured limit (with how much that individual bank is giving you) with those lenders at some point, which means different things in different cases:

Chase - you'll be declined for future products and need to call reconsideration to be approved and to move credit limit over from the old card

BoFA - they'll lower your limit on your one card to create a new card

Navy - you'll get a token $500-$1000 limit or just get declined for another credit card if you apply with no option to move credit over to make a new card

so just something to consider if you wanted additional cards with them down the line

Re: Credit Line Increase Frequency

markbeiser — Wed, 29 May 2024 22:55:00 GMT

With BoA and AmEx you can potentially get a CLI every 91 days with a soft pull online request.
I'm not sure exactly what AmEx criteria are, but I got several 3x CLIs in a row requesting every 91+ days, though they declined to go higher than $34k last time I asked for $50k.
I've heard, but can't confirm, that AmEx limits you to half your annual income in CC limits.

BoA doesn't like to see inquiries or new accounts within the previous 3 months, even for preferred rewards members, but CLIs on other accounts don't matter. A few days ago I got a $3.2K CLI on a 3 month old Susan G Komen card, and a $8.4k CLI on the CCR card I've had for 11 years.
BoA seems to have a hard cap of $99.9k total credit limit on all personal cards with them, but the cap for an individual can be lower.
I'm guessing there is a way around that if you are a private banking client with them, and have >$10 million in deposits.

Re: Credit Line Increase Frequency

FicoMike0 — Sun, 02 Jun 2024 13:14:17 GMT

I don't see how one bank even knows you're requesting a cli at another, so it shouldn't matter. If you get the cli, the new limit will only show up when the account posts.

Re: Credit Line Increase Frequency

Gregory1776 — Tue, 04 Jun 2024 06:46:46 GMT

Hard pull if it is and no new accounts, but they won't care. About you getting CLI's

Re: Credit Line Increase Frequency

MissLiz — Tue, 04 Jun 2024 15:25:15 GMT

If the CLI request is an HP, the other banks will see that and may decline the CLI for "credit seeking behavior." If the CLI request is a SP, the other banks can't see those.

Re: Credit Line Increase Frequency

FicoMike0 — Tue, 04 Jun 2024 18:50:14 GMT

I keep my reports frozen, unless I'm apping for new credit. All my cli s are sps.