topic Re: CLI Help in Credit Cards

CLI Help

lkcrew426 — Tue, 23 Feb 2010 20:39:31 GMT

I have the following:

US Bank 500

Capital One 750

Target 1000

AAoA 2 yrs, FICO 712

yet I am still not getting increases on any of my limits. I use the cards frequently, but pay off the balances each month and have less than 5% utilization according to my report (occasionally I charge something after paying off for the previous month before it reports). I have never missed a payment. Does anyone have any suggestions as of how to get these increased? I am wanting to move on to better cards.

Re: CLI Help

Anonymous — Wed, 24 Feb 2010 00:20:18 GMT

Believe it or not some banks or lenders that back those cards are just CONSERVATIVE. Its not you its THEM. Trust me your credit score is fine, you shouldn't be getting denied with a company that has credit to distribute if your debit to income is okay given your situation. Move on to another card!

Re: CLI Help

Anonymous — Wed, 24 Feb 2010 00:27:29 GMT

I just applied for a credit card recently and got a 6500 credit limit (see post "APPROVED -- NFCU cashRewards Visa") with a score of 725 I believe. Could have been a 733 still not sure, but anyway before that I asked Capital One to increase my 300 limit and they said NO. I cut it up and searched for banks that were willing to give out credit. Move on to a bank or credit union that has some balls. Also I have a USAA credit card with a 1000 limit and they wouldn't increase my limit either. Sometimes you just have to leave other cards behind.

Message Edited by jenrette on 02-23-2010 04:27 PM

Re: CLI Help

blacklotus — Wed, 24 Feb 2010 00:26:39 GMT

I'm not afraid to say "no". If I can't get a better credit card I won't carry one.

Re: CLI Help

Anonymous — Wed, 24 Feb 2010 00:39:30 GMT

what do you mean blacklotus?

Re: CLI Help

blacklotus — Wed, 24 Feb 2010 00:41:24 GMT

I mean I will not get a credit card just because they offered it to me.

Re: CLI Help

haulingthescoreup — Wed, 24 Feb 2010 01:02:49 GMT

cruthisfamily wrote:

I have the following:

US Bank 500
Capital One 750
Target 1000

AAoA 2 yrs, FICO 712

yet I am still not getting increases on any of my limits. I use the cards frequently, but pay off the balances each month and have less than 5% utilization according to my report (occasionally I charge something after paying off for the previous month before it reports). I have never missed a payment. Does anyone have any suggestions as of how to get these increased? I am wanting to move on to better cards.

cruthisfamily, you seem like a perfect candidate for a CC from a credit union. Most (not all) CU's pull Equifax, and they should be pretty happy with your score and your reports, if I remember the details correctly from another of your posts.

Credit unions, unlike banks, are meant to benefit its members, rather than outside stockholders. They have always been popular among those building or rebuilding their credit, but nowadays, many people are moving their personal financial and credit business to CU's, revolted by the recent practices of the Big Boy banks.

Message Edited by haulingthescoreup on 02-23-2010 05:02 PM

Re: CLI Help

blacklotus — Wed, 24 Feb 2010 01:19:32 GMT

I recently apped through my credit union for another credit card. I agree they seem alot more friendly than banks. I apped for a $5000 CL platinum card. They "counter-offered" with a $2500 card. But I guess they could've as easily declined me because they also added that I could get this card only if I showed that I had paid a very old debt that kept being "re-aged" on my credit report. A bank would've probably just declined me. I paid the debt at Western Union yesterday and am waiting for a reciept so I can be approved for this card. My credit union actually let's me know exactly what disqualifies me and how to fix it.

BTW- the old debt was at the court in the town of this credit union...

Message Edited by blacklotus on 02-23-2010 05:19 PM

Re: CLI Help

lkcrew426 — Wed, 24 Feb 2010 01:49:43 GMT

@blacklotus wrote:
I mean I will not get a credit card just because they offered it to me.

I didn't get these cards "just because they were offered to me." The us and capital one are from when I first turned 18, and was being declined by more prominent banks because of the age of my history. The target card I have solely to buy diapers and formula because they send me a 10% off coupon every time I spend $500. I am just trying to build my credit so that I can more efficiently utitilize the resources that are available out there and reap the rewards of the better cards.

Re: CLI Help

lkcrew426 — Wed, 24 Feb 2010 01:52:59 GMT

@Anonymous wrote:
Believe it or not some banks or lenders that back those cards are just CONSERVATIVE. Its not you its THEM. Trust me your credit score is fine, you shouldn't be getting denied with a company that has credit to distribute if your debit to income is okay given your situation. Move on to another card!

Thanks! I was worried I was doing something wrong. We're in the process of closing on a mortgage, but once we do (provided it does create a drastic change in my CR) I think I'm going to try a different card. My debt to income shouldn't be a problem at all - all of my debt inlcuding my soon to be mortgage is at less than 15% of income.