topic Re: Do you use cards specifically to get a CLI? in Credit Cards

Do you use cards specifically to get a CLI?

masscredit — Thu, 04 Feb 2016 13:41:07 GMT

Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 13:43:47 GMT

@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.

No, but that also means I likely am not maximizing my possibilities. It's sort of the reason I never tried the SCT or got store cards, I just rotate my cards regardless of spend (although I am trending towards trying to do better when my BCP arrives this week).

Re: Do you use cards specifically to get a CLI?

bch238 — Thu, 04 Feb 2016 13:58:21 GMT

Not really sure I understand how you can use cards with intention to get CLI. Do you mean, just use them more?

Every card has a purpose;. Dining on the CSP (2X), sometimes on the Prestige (2X); recurring bills on the CSP, though that can be moved to a new card to meet minimum spend, if necessary. Auto rental on CSP (2X plus primary insurance). Hotels (except Marriott) and airfare on Prestige (3X). Marriott hotels on Mariott RP (5X plus the 12X as Silver Elite). Entertainment (movie theaters, amusement parks, museums, etc) on Prestige (2X). Groceries on BCP (6X), though sometimes on BOA (3X with Platinum Rewards). Gas on BOA (4.5X) or with gas card bought at grocery store (6X). Rotating categories on Freedom (5X) trump usual spend elsewhere.

I do spread my 1X spend around, though. Larger items where warranty counts on the Platinum. Probably subconscioulsy I believe that I don't want them thinking I'm abusing them.

Re: Do you use cards specifically to get a CLI?

masscredit — Thu, 04 Feb 2016 14:02:55 GMT

Yes, use them more. Like the Walmart card in my example. I don't shop at Walmart much. I rather buy my food at the grocery store or Target but I specifically goto Walmart to give that card use so it will be more likely to receive a CLI. The same with my JCP card. I can buy clothes anywhere else but I'll travel 20 minutes to shop at that store and use the card. I use other cards based on their rewards but I focus on some if I want them to grow.

Another thing is, I can have cash in my pocket but I'll use a card just to give it use and then pay it off before the statement closes most of the time.

Re: Do you use cards specifically to get a CLI?

SouthJamaica — Thu, 04 Feb 2016 14:40:58 GMT

@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.

Yeah I do the same thing; I think about what the bank is looking for from me Dumb, right?

Re: Do you use cards specifically to get a CLI?

takeshi74 — Thu, 04 Feb 2016 15:17:58 GMT

Nope. It's not usage alone that determines what CLI's one will qualify for. Primary factors are always one's credit profile and income. I've had a number of significant CLI''s on cards with little to no usage. Do not rely on the usage/CLI meme.

Re: Do you use cards specifically to get a CLI?

UncleB — Thu, 04 Feb 2016 15:38:14 GMT

@SouthJamaica wrote:
@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.
Yeah I do the same thing; I think about what the bank is looking for from me Dumb, right?

Not dumb at all - it works.

Some folks say this is simply a 'meme' - and just like me they are entitled to their opinion - but I can personally say high usage has been effective at driving higher CLIs, at least for me. I have also received CLIs with minimal usage, but my most generous CLIs have always been after significant usage - especially with Capital One.

Of course your overall credit profile is a major factor - that's "Credit-101" - but once that is cared for one of the few things left that we can directly impact is usage.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 15:39:02 GMT

I use the cards that will maximize my return, period. There are cards that offer more benefits than others and that drives my decision on which card will be used. In taking that approach, I don't always get the CLI amount on the cards with minimum use, i.e. Capital One for one, but that is okay. With Cap One, it isn't my income, score, debt to income ratio, or utilization that prevents a 3K to 4K increase, it strictly I don't use them as I did a couple of years ago. Now I must say the cards that I use frequently, I Do get great CLI

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 16:50:50 GMT

@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.

For me, it depends on the card. I have been lucky to obtain CLIs on some of my cards without much use. To maximize rewards, I don't spread around category spend, but I do switch generic spend and monthly bills to meet credit card goals.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:06:45 GMT

@masscredit wrote:
Yes, use them more. Like the Walmart card in my example. I don't shop at Walmart much. I rather buy my food at the grocery store or Target but I specifically goto Walmart to give that card use so it will be more likely to receive a CLI. The same with my JCP card. I can buy clothes anywhere else but I'll travel 20 minutes to shop at that store and use the card. I use other cards based on their rewards but I focus on some if I want them to grow.

Another thing is, I can have cash in my pocket but I'll use a card just to give it use and then pay it off before the statement closes most of the time.

I do the same thing so I can maximize my rewards.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:10:27 GMT

@SouthJamaica wrote:
@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.
Yeah I do the same thing; I think about what the bank is looking for from me Dumb, right?

No, it's not dumb. You have found a system that works for you. It's all that matters.

Re: Do you use cards specifically to get a CLI?

JcT21 — Thu, 04 Feb 2016 17:11:01 GMT

i rotate my cards so they all get some usage, just to make the banks happy. my everyday go-to card is my venture, i like building up miles to cash in on my hotel for vacation. however every now and then ill switch it out and use discover or barclays as my go-to card for a month or so just to show heavier usage in hopes of getting good CLI's. so far this rotating system is working out pretty good.

Re: Do you use cards specifically to get a CLI?

bdhu2001 — Thu, 04 Feb 2016 17:27:17 GMT

No. I use my cards specifically for the points and so that my debit card, which is attached to my checking account, isn't at risk of identity theft.

When someone gets a hold to your debit card information, it wipes out your cash and leaves you unable to pay your bills timely while it's being disputed. Sometimes it takes a month or two before it's straightened out. When it's your credit card, they notify you of suspicious activity and close it down. In the meantime, you can still pay your bills without having to cash out emergency savings.

I've seen it happen to others and wouldn't wish it on anyone.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:29:03 GMT

@masscredit wrote:
The same with my JCP card. I can buy clothes anywhere else but I'll travel 20 minutes to shop at that store and use the card.

Another thing is, I can have cash in my pocket but I'll use a card just to give it use and then pay it off before the statement closes most of the time.

To each their own but I really do not understand why you would have a card that you would not normally use yet go out of your way (20 mins) just to spend on it for something you did not want......

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:46:42 GMT

@UncleB wrote:
@SouthJamaica wrote:
@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.
Yeah I do the same thing; I think about what the bank is looking for from me Dumb, right?
Not dumb at all - it works.

Some folks say this is simply a 'meme' - and just like me they are entitled to their opinion - but I can personally say high usage has been effective at driving higher CLIs, at least for me. I have also received CLIs with minimal usage, but my most generous CLIs have always been after significant usage - especially with Capital One.

Of course your overall credit profile is a major factor - that's "Credit-101" - but once that is cared for one of the few things left that we can directly impact is usage.

I emphatically agree with your entire post UncleB.

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:51:26 GMT

@JcT21 wrote:
i rotate my cards so they all get some usage, just to make the banks happy. my everyday go-to card is my venture, i like building up miles to cash in on my hotel for vacation. however every now and then ill switch it out and use discover or barclays as my go-to card for a month or so just to show heavier usage in hopes of getting good CLI's. so far this rotating system is working out pretty good.

Finding a system that works for you... Priceless!

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 17:53:13 GMT

I go for the reward-maximizing option unless I think I need price protection or some other benefit.

I only want high CLs on cards I'd want to spend a lot on, anyway.

Re: Do you use cards specifically to get a CLI?

SLO805 — Thu, 04 Feb 2016 18:05:42 GMT

Running 10k a month through amex, bofa, discover and cap1 in hopes of increases

Re: Do you use cards specifically to get a CLI?

Anonymous — Thu, 04 Feb 2016 19:55:16 GMT

@masscredit wrote:
Do you use your cards with the specific intent of getting a CLI? That's pretty much become a way of life for me. For example, I'll pass the supermarket to goto Walmart so I can do my grocery shopping and use that card. I also plan when I'm paying my bills so certains cards can be used. My credit lines have grown to where I want them to be so it's worked pretty good. Now I have to get used to thinking a little different.

absolutley. that is how I got a SP cli on my DC, and a 8x cli on my BOA Amtrak card.

I am also considering accepting a BT or two from a family member because I want to show more activity on a card. Believe me they ain't running away I have keys to their home lol.

I also assume my care credit got to 15k from helping out relatives. Most of my charges were only 2 or 3 k, theirs were over 6. I need to get to a CVS to keep this card open lol.

I was thinking about running all spend on the DC for now, but their SP CLIs are so little I will probably just take a HP. If I just got a SP CLI in december, I wonder how high my limit could go if I paid off my $700 balance and took a HP for CLI? This card is also at no interest until feb 2017.

Re: Do you use cards specifically to get a CLI?

Kevin86475391 — Thu, 04 Feb 2016 19:58:03 GMT

While I certainly do absolutely agree with the to-each-their-own and find-a-system-that-works-for-you philosophies — after all how someone else handles their finances is certainly none of my business — I definitely don't spend on a card in hopes of getting a CLI and think doing so could potentially lead to some unfortunate consequences.

As others have pointed out, the best reasons (again subjective to some extent I suppose) for using a credit card is to maximize rewards and increase purchasing security. I think that the absolute biggest credit pitfall a person can fall into is spending more than they normally would just because it's on a credit card. Obviously it's worse if the person also can't really afford the thing they're buying to begin with, but even if they easily can, it's still a needless waste of financial resources. Either you need/want the thing anyway and would legitimately buy it regardless...or you're basically just wasting money. On very rare occasions it can make sense if that one transaction is legitimately the difference between meeting or not meeting a spending requirement...sure, of course spend an extra $20 to get an extra $200 in rewards (IF you're already that close), but it makes no financial sense to spend an extra $3,000 you wouldn't have spent anyway (or would only have spent like half of normally) to get $200 in rewards.

Personally, I think one of the other biggest pitfalls people fall into with credit is fixating too much on credit limits. Spending with the primary purpose of getting a higher credit limit (whether it works or not) just doesn't make financial sense to me. As CarefulBuilder mentioned, what's even the point of having a high credit limit on a card you don't need? I mean of course higher credit limits are better for utilization and having and responsibly managing credit cards is great for building a good credit score - but fixating so much on the credit limit that you spend money you wouldn't otherwise be spending just takes it too far in my opinion. The whole point of having a good credit score should be to save money on interest, get better terms, and qualify for loans and credit (you need), but you can definitely negate the benefits of a good credit score if you're chronically overspending to get it.

I'm certainly not saying people shouldn't buy stuff they want but don't actually need (as long as the person can afford it without risking their financial security). I spend quite a bit on things I don't need but want - especially eating out. It's one of my biggest spending categories and obviously it's pretty much ALL unnecessary. But I really do want to go out to eat. I'm not doing it just to get rewards or increase spending on a card for bonuses or CLIs. I'd still be doing it if I were paying cash.

Again it's certainly none of my business what people spend their money on - and frankly I think trying to tell someone else what they should or shouldn't buy or being judgmental about it is one of the most obnoxious things a person can do. I'd just encourage anyone to think before they swipe their card and decide what kind of value they're getting for their purchase. To me a need is obviously fine. A want is also fine as long as I'm not going in debt for it. But for me spending on something I don't particularly need or want for the sake of a CLI or rewards is very much a losing value proposition.