topic Re: CFU CLI denied in Credit Card Applications

CFU CLI denied

Heatt99 — Sat, 01 Jun 2024 12:46:49 GMT

Just some DPs for others to use. Card is 8 months old. The app did not suggest a CLI, so I called in--SP.

Reason: too high of overall debt-to-income

Which would mean 55k debt/100k income.

On paper I owe 35k across four cards. It sits on zero percent APR cards. CFU 9k limit @ 30% usage at time of request.

I usually get CLI based on high usage within the 0% intro period. Not with Chase.

Extra DP:

15 CC: 286K total--15% utilization.

1 installment: 15k balance / 48 mo in. 60 mo term

AAOA: 17yrs

Stated income: 100k

Stated rent: 1,400

Paid the card off this week. Will still use at drugstores, but will focus on other cards that have a higher chance of SP CLI.

Re: CFU CLI denied

CreditPoor — Sat, 01 Jun 2024 17:01:30 GMT

Banks appetite for lending is getting tighter. You owe 35k across multiple cards and have 30% utilization on the card you're seeking a CL increase on. Flat out the bank considers you to be risky and over extending yourself. You would need to zero out those balances and not carry a balance for a couple months

Re: CFU CLI denied

keekers — Sun, 02 Jun 2024 00:58:29 GMT

Bummer. Better luck next time.

Re: CFU CLI denied

FicoMike0 — Sun, 02 Jun 2024 13:09:00 GMT

Sorry about that, better luck next time.

I've done two cli s recently. The first, amex, I did nothing special, asked for 3X $9000 and got the $27000. The next, wells, I tried to game. I waited for amex to post the new cl. I made sure my utilization s were under 9%. Then I waited for wells monthly sp, they showed my score over 800 and dti < 5%. I asked for $20000 from $8500. They approved $10700. I was expecting more for the effort.

Re: CFU CLI denied

swankytiger — Sun, 02 Jun 2024 17:15:19 GMT

@FicoMike0 wrote:
Sorry about that, better luck next time.
I've done two cli s recently. The first, amex, I did nothing special, asked for 3X $9000 and got the $27000. The next, wells, I tried to game. I waited for amex to post the new cl. I made sure my utilization s were under 9%. Then I waited for wells monthly sp, they showed my score over 800 and dti < 5%. I asked for $20000 from $8500. They approved $10700. I was expecting more for the effort.

iirc wells fargo tends to not like utilization vs total credit limit being too low and they dont like too high of a credit limit available vs income.