topic Re: Do you ever stop asking for CLI? in Credit Card Applications

Do you ever stop asking for CLI?

IWOL — Tue, 04 Nov 2014 00:22:18 GMT

Was thinking today.....maybe its time to stop aksing for CLI.

Through the knowledge I have atttained mostly on these boards I have a managed to increse my limits from $5K to over $220K in less than 2 years and now my average staring limit on new apps seesm to come in at around $15K.

I have far more credit than I need at this point and my utilization will now pobably never go over 9% so I dont need any more utilization buffers.

Despite not needing any more credit I still request increases every couple of months depending on the issuer and its been a long time since I got a denial on a CLI request.

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

Re: Do you ever stop asking for CLI?

Ghoshida — Tue, 04 Nov 2014 00:28:21 GMT

@IWOL wrote:
Was thinking today.....maybe its time to stop aksing for CLI.

Through the knowledge I have atttained mostly on these boards I have a managed to increse my limits from $5K to over $220K in less than 2 years and now my average staring limit on new apps seesm to come in at around $15K.

I have far more credit than I need at this point and my utilization will now pobably never go over 9% so I dont need any more utilization buffers.

Despite not needing any more credit I still request increases every couple of months depending on the issuer and its been a long time since I got a denial on a CLI request.

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

I'm not the target responder for this question (I haven't reached my goal scores etc.) but I think there should be a sweet spot. Lenders may get uncomfortable if my CL is too high compared to my income (possible risky exposure). I personally want all my cards to reach 5 digits without HP and then stop there and wait for auto-CLIs if banks give them, and not bother if they don't.

Re: Do you ever stop asking for CLI?

Open123 — Tue, 04 Nov 2014 00:32:23 GMT

@IWOL wrote:

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

These days, I only request for a CLI if an existing one isn't sufficient for how I plan to use the card. Matter of fact, there are many cards I app'ed for purely for the benefits or bonus, and have requested CLDs to $5K, or even $2.5K.

Re: Do you ever stop asking for CLI?

wacdenney — Tue, 04 Nov 2014 00:33:13 GMT

I read the title and opened the thread with the intention of posting: "NO!!".

After reading your post I'm not so sure...

Re: Do you ever stop asking for CLI?

Creditaddict — Tue, 04 Nov 2014 00:34:13 GMT

Guess it depends if it will be a hp or sp

Re: Do you ever stop asking for CLI?

Shock — Tue, 04 Nov 2014 00:39:21 GMT

Yeah..my current goal is 100k in lines across 5 or maybe 6 cards. After that, I don't think I'd press the issue until i hit another life stage. currently still in school atm. but even so, i dont see myself needing anymore than that. There comes a point where its no longer beneficial to you and it's asking for more credit for the sake of it.

Re: Do you ever stop asking for CLI?

Luscher — Tue, 04 Nov 2014 01:05:09 GMT

Im at over 100k with 7 cards so I'm happy

Re: Do you ever stop asking for CLI?

SunriseEarth — Tue, 04 Nov 2014 01:31:26 GMT

Good question. I just got all of my SyncB cards up to $5K, but I'm wondering if I've really ever going to need that much for store cards. I think it might help the major lenders be more willing to give me CLs over $5K, but that's really the main justification. I'll probably keep pushing on them, but I don't see a huge need for it currently. Of course, if any of those upgrade to cobranded CCs, then I might want to push those ones to at least $10K

Re: Do you ever stop asking for CLI?

iwazl71 — Tue, 04 Nov 2014 01:36:22 GMT

i still ask for increases as long it is a soft pull. i find that satisfies my apping craving.

Re: Do you ever stop asking for CLI?

gen-specific — Tue, 04 Nov 2014 01:38:41 GMT

hey I can relate to you!

so you can ignore your cards and stop or just ask occassionally to see what happens

remember, these institutions can close your card or cut your limit to NOTHING in a heartbeat, especially in a recession, so the general idea is to just keep your score high.

if you ever want to get some secured assets on leverage, like a mortgage for a house, you will want to be exempt from the woes of the common man.

Re: Do you ever stop asking for CLI?

Anonymous — Tue, 04 Nov 2014 02:01:48 GMT

@Open123 wrote:
@IWOL wrote:

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

These days, I only request for a CLI if an existing one isn't sufficient for how I plan to use the card. Matter of fact, there are many cards I app'ed for purely for the benefits or bonus, and have requested CLDs to $5K, or even $2.5K.

+1. Up to a certain point, too much credit limit can be a bad thing. Other banks may just start closing accounts when they feel that you have too much credit limit for your income level. Having high CLs can also be a detriment when applying for new accounts because that lender may feel that you already have enough credit and don't see the point in issuing you more.

However if you are not at that stage and it's a SP CLI, then might as well ask for it.

Re: Do you ever stop asking for CLI?

noobody — Tue, 04 Nov 2014 02:24:57 GMT

I trim my cash+ from 16k to 10k, BCE from 20k to 2k, arrived+ from 18k to 10k to reduce overall exposure with lender, thus better new card approval odds. With most reward cards are capped, no need get crazy CL

Re: Do you ever stop asking for CLI?

Open123 — Tue, 04 Nov 2014 02:31:39 GMT

@noobody wrote:
I trim my cash+ from 16k to 10k, BCE from 20k to 2k, arrived+ from 18k to 10k to reduce overall exposure with lender, thus better new card approval odds. With most reward cards are capped, no need get crazy CL

Likewise, for cards with 5% caps, such as Discover, Freedom, Cash +, I've CLD'ed them to $5K, since I can see no reason to spend above $1,500 and/or $2,000 respectively.

Re: Do you ever stop asking for CLI?

dilettante — Tue, 04 Nov 2014 03:12:28 GMT

I've only requested CLI's twice and they were on store cards (Neiman Marcus and Saks) that gave very low starting CL's - can't really go on a holiday shopping spree with 2k or 4k limits at their stores. Of course several years ago, I didn't even know you could ask for CLI's.

I usually only like limits on cards enough to quickly cover the spend for a sign up bonus or if I have a specific large purchase charge I want to put on that card. My Diners card was approved for 50k and I don't need that much a month to cover the bonus categories since I don't MS and there wasn't a bonus/spend requirement, so I will probably CLD it.

Re: Do you ever stop asking for CLI?

HiLine — Tue, 04 Nov 2014 03:28:35 GMT

I've been there, and I stopped. I do not want to have so much credit limit that banks refuse my future credit applications. In fact, I stopped caring about credit once I reached most of my credit goals. The only thing left is getting an 800 FICO, which is going to happen pretty much naturally. It feels good to have one aspect of your life already taken care of; I don't want to put any more thought or care into this credit thing.

Re: Do you ever stop asking for CLI?

vanillabean — Tue, 04 Nov 2014 03:31:51 GMT

I stopped a long time ago and picked up the hobby of living within my means.

Re: Do you ever stop asking for CLI?

AndySoCal — Tue, 04 Nov 2014 05:05:09 GMT

I have not asked for one in three years. I have all the credit i need.

Re: Do you ever stop asking for CLI?

Imperfectfuture — Tue, 04 Nov 2014 05:25:50 GMT

@Ghoshida wrote:
@IWOL wrote:
Was thinking today.....maybe its time to stop aksing for CLI.

Through the knowledge I have atttained mostly on these boards I have a managed to increse my limits from $5K to over $220K in less than 2 years and now my average staring limit on new apps seesm to come in at around $15K.

I have far more credit than I need at this point and my utilization will now pobably never go over 9% so I dont need any more utilization buffers.

Despite not needing any more credit I still request increases every couple of months depending on the issuer and its been a long time since I got a denial on a CLI request.

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

I'm not the target responder for this question (I haven't reached my goal scores etc.) but I think there should be a sweet spot. Lenders may get uncomfortable if my CL is too high compared to my income (possible risky exposure). I personally want all my cards to reach 5 digits without HP and then stop there and wait for auto-CLIs if banks give them, and not bother if they don't.

To add, some of us don't want even 5 digit cards, I want 5 to 6 cards, and my utilization would never need that kind of buffer. Several 3k to 5k cards will do me just fine (so I won't be going for 3x Amex, though 6k to get other cards higher cl's would be nice,

Re: Do you ever stop asking for CLI?

MarineVietVet — Tue, 04 Nov 2014 06:14:36 GMT

@IWOL wrote:
Was thinking today.....maybe its time to stop aksing for CLI.

Through the knowledge I have atttained mostly on these boards I have a managed to increse my limits from $5K to over $220K in less than 2 years and now my average staring limit on new apps seesm to come in at around $15K.

I have far more credit than I need at this point and my utilization will now pobably never go over 9% so I dont need any more utilization buffers.

Despite not needing any more credit I still request increases every couple of months depending on the issuer and its been a long time since I got a denial on a CLI request.

For those of you that have reached your score goals, limit goals etc...do you keep trying to get limit increases just for the hell of it?

I thnk about it every once in awhile but I figure I have just about enough in CL's. That's not to say I'll never seek another one though.

Re: Do you ever stop asking for CLI?

Anonymous — Tue, 04 Nov 2014 09:08:31 GMT

@dilettante wrote:
I've only requested CLI's twice and they were on store cards (Neiman Marcus and Saks) that gave very low starting CL's - can't really go on a holiday shopping spree with 2k or 4k limits at their stores. Of course several years ago, I didn't even know you could ask for CLI's.

I usually only like limits on cards enough to quickly cover the spend for a sign up bonus or if I have a specific large purchase charge I want to put on that card. My Diners card was approved for 50k and I don't need that much a month to cover the bonus categories since I don't MS and there wasn't a bonus/spend requirement, so I will probably CLD it.

that's a nice CL for the diner's club.

From what I've read so far, they seem to be very generous with CLs. However, other than getting a large CL for $300 AF, what are the actual useful perks of the card? I saw the site and the card seems ok. So is there some perks / features that I am missing?