topic Re: Credit Card CLI in Credit Cards

Credit Card CLI

Anonymous — Tue, 14 Mar 2017 21:25:44 GMT

This Friday, 3/17/2017, I will be closing on my house...I don't plan on using my credit much in the next year or two and have been wanting to request CLI on my Discover IT and Region's credit cards...I also want to apply for a AMEX everyday. My question is, would pulling the trigger on CLI and apping for the AMEX be wise right after closing on the house? I have had my Discover card since June of 2016 starting with a 6500 limit and have never requested a limit to date, my 2016 statement showed I charged/paid a total of 4500 from June 16-end of year. Regions card started at 2000 limit and have had it almost two years now with no limit increases. When applying for the mortgage my scores were 780 TU, and 720/730 for exp/equifax. No missed payments, utilization under 10% and a auto loan with 6k balance out of original 11k after 24 payments.

What sort of limits should I ask for, at what time, and should I app for the AMEX card first before requesting CLI?

Gross income is around 100-130k (commission based)

Re: Credit Card CLI

austinguy907 — Tue, 14 Mar 2017 21:29:55 GMT

Close first!

Disco is a SP and you should probably be hitting the CLI every other month.

AMEX is a good goal when you're closed on the mortgage. GO FOR IT!

Go ahead and hit up Regions as well once you've closed as well.

Re: Credit Card CLI

Anonymous — Tue, 14 Mar 2017 21:36:20 GMT

I was under the influence that a Discover CLI was a hard pull and not soft? I would have asked a long time ago if I had known that! haha...So my timeline is close on the house friday, and probably app for the AMEX the following Monday and ask for CLI afterwards?

Re: Credit Card CLI

austinguy907 — Tue, 14 Mar 2017 21:41:48 GMT

Disco = SP unless you ask for more than they give you

AMEX should be a surefire approval! Some ask for a CLI upon activation with mixed results but, the best option is to wait until 61 days after opening the account.

Re: Credit Card CLI

Anonymous — Tue, 14 Mar 2017 21:50:00 GMT

Awesome, does AMEX ask a specific credit limit you are requesting when apping? or do they just generate a credit limit they think suites me? Typically when asking for a CLI such as my Discover card, is there an amount people generally ask for? I wasn't sure what to ask for if my CL is currently 6500?

Re: Credit Card CLI

austinguy907 — Tue, 14 Mar 2017 21:52:40 GMT

AMEX - you get what they give when you APP but, when you request a CLI you do the math for 3X whatever you're at and put that into the box

Disco gives you what they're in the mood for. The way around it is calling Lending and specifying a number but, that will prompt them to ask you for a HP to exceed what the SP offer was.

Re: Credit Card CLI

Anonymous — Tue, 14 Mar 2017 21:55:15 GMT

Thanks so much! I will give it a shot on Monday and see what happens and let you know!

Re: Credit Card CLI

Anonymous — Fri, 17 Mar 2017 20:20:35 GMT

update!

Closed on our first house today! Woo hoo, awesome feeling with many emotions!

Also,

I app'd for the AMEX blue cash every day card and was approved with a SL of $11,500!

I requested a CLI on my Discover card and was granted $9700 from my $6500 SL

A great day!

Now, I am pondering wether I should request a CLI on my Regions credit card or not...they started me at $2,000 almost two years ago with no auto CLI's since.

Re: Credit Card CLI

AllCredit — Fri, 17 Mar 2017 20:23:56 GMT

Congrats on the CLI and BCE!!! Oh I'm sorry for that small purchase you made...congrats on the new house!

Re: Credit Card CLI

Anonymous — Fri, 17 Mar 2017 20:58:52 GMT

thanks!