topic Re: Credit card approved, credit line increase declined. in Credit Cards

Credit card approved, credit line increase declined.

Anonymous — Fri, 08 Apr 2016 03:09:41 GMT

Just applied and got approved for two credit cards but applied for credit increases for two other cards i've had for over a year, any clue as to why? I've never missed a payment, fico is only 620 though.

Re: Credit card approved, credit line increase declined.

myjourney — Fri, 08 Apr 2016 03:12:43 GMT

Welcome to the forum

More info needed

What cards were denied a CLI

Baddies

Why are scores low

Fico scores all 3

AAoA

Re: Credit card approved, credit line increase declined.

9CLINE — Fri, 08 Apr 2016 03:23:06 GMT

+1
Can't tell anything from generic statements..
Welcome 2 the forum.......

Re: Credit card approved, credit line increase declined.

Anonymous — Fri, 08 Apr 2016 03:49:12 GMT

Cards denied increase were citi double cash card:$2k limit, and discover it card:$2.5k limit. Baddies? The reason my credit is so low is because of a reposession 2 years ago that I owe 9k on, I'm currently paying it down. Also have $7k in student loans. Current 620 transunion, 627 experian.

Re: Credit card approved, credit line increase declined.

Anonymous — Fri, 08 Apr 2016 04:59:11 GMT

TBH with those scores i am surprised you have those limits anyway so kudos for that.

Re: Credit card approved, credit line increase declined.

myjourney — Fri, 08 Apr 2016 05:02:45 GMT

@Anonymous wrote:
Cards denied increase were citi double cash card:$2k limit, and discover it card:$2.5k limit. Baddies? The reason my credit is so low is because of a reposession 2 years ago that I owe 9k on, I'm currently paying it down. Also have $7k in student loans. Current 620 transunion, 627 experian.

My guess is w/o knowing what limit the 2 new cards are and what bank granted you new credit:

1) your UTL with the SL and repo along with an other balances you may have

2) short 1 year history good payment

Is not enough time yet to increase your current limits at this time with the baddie and amount owed

Wait on the letter see what it says and report back

Re: Credit card approved, credit line increase declined.

thummel — Fri, 08 Apr 2016 06:06:09 GMT

I'm really suprised you have that good of a limit with a double cash. That's a really tough card to get a higher limit on. Interested to see what cards you picked up at 620ish ficos too.

Re: Credit card approved, credit line increase declined.

Anonymous — Fri, 08 Apr 2016 06:56:19 GMT

I just got the amazon.com store card with 1k limit and the amex hhonors card with 1.5k limit. My score was 740 before the baddie hit and dropped 100 points, is that standard?

Re: Credit card approved, credit line increase declined.

Anonymous — Fri, 08 Apr 2016 08:13:34 GMT

Welcome to the forum! Congrats on your approvals! Which credit cards were you declined for CLIs?

Re: Credit card approved, credit line increase declined.

lord_kinbote — Fri, 08 Apr 2016 10:17:25 GMT

@Unixface Yes that score drop is normal. How long has it been reporting? I hate to be the bearer of bad news, but I would expect AA from Chase, Amex and Citi.

However you said the repossession was 2 years ago but it is just not hitting your reports? I am assuming sk, because I doubt those prime lenders would have approved with that reporting.

BTW, what flavor of UNIX?

Re: Credit card approved, credit line increase declined.

myjourney — Fri, 08 Apr 2016 22:43:14 GMT

@Anonymous wrote:
I just got the amazon.com store card with 1k limit and the amex hhonors card with 1.5k limit. My score was 740 before the baddie hit and dropped 100 points, is that standard?

Yes, SOP with a new baddie reporting which also explains the decline of CLI's

New baddies make lenders hesitant of extended more credit

My advice hunker down work on CR's and time is your best asset for raising limits

Re: Credit card approved, credit line increase declined.

myjourney — Fri, 08 Apr 2016 22:44:11 GMT

Double post Ooops moment