topic Asking for CLI in Credit Cards

Asking for CLI

savmeformyse — Tue, 11 May 2010 00:40:38 GMT

I just got approved for a discover student card with a limit of 500 does anyone think I should ask for a CLI I have not even receive the card yet. I need the increase in order to purchase books for school.

Re: Asking for CLI

Anonymous — Tue, 11 May 2010 03:01:17 GMT

I would love to know what everyone thinks about this too, I also just got approved for one and was thinking about asking for a cli so I can do a balance transfer

Re: Asking for CLI

tengtengvn — Tue, 11 May 2010 20:24:57 GMT

If it's a reward card, use it then pay it off after the transaction is posted.

Re: Asking for CLI

savmeformyse — Tue, 11 May 2010 21:18:16 GMT

Bump

Does anyone approve of this or think it is a great idea to ask for a increase before you get the card?

Re: Asking for CLI

fused — Tue, 11 May 2010 21:24:02 GMT

@savmeformyse wrote:

Bump

Does anyone approve of this or think it is a great idea to ask for a increase before you get the card?

Do you have cash to buy your textbooks?

Re: Asking for CLI

Jazzzy — Tue, 11 May 2010 21:49:35 GMT

Discover customer service is good...just call them and ask about the possibilities of an immediate CLI. They won't pull your card just because you ask about buying textbooks.

And congratulations on your new card!

Re: Asking for CLI

savmeformyse — Tue, 11 May 2010 22:16:10 GMT

Thanks I thought maybe I would seem to needy and they would reject me.

Re: Asking for CLI

OptimalFICO — Tue, 11 May 2010 22:43:59 GMT

It's perfectly reasonable to call Discover and ask if they could re-review your application to see if you qualify for a higher credit limit. My boyfriend was approved for a VISA at $2,500 and upon our request, they called the underwriter to see if it could be increased and we got an additional $500 for a total CL of $3,000.

Might be better to use Discover's backdoor number...

Discover: 888-676-3695 (Recon)

Discover: 800-347-2911 (Retention Dept.)

If you have the cash, however, you may want to send in a payment which would result in a credit balance on the account. Then you can charge whatever amount is applicable in books. But sounds like as a student you may not have the money up front to do this. Just note if you are concerned about your FICO score and future CLs, it's not good to max out the card. In fact, you should try to keep it below 35% (the lower the better). But you gotta do what you gotta do. When you bring your utilization down, your FICO score will go back up.

Good luck!

Re: Asking for CLI

savmeformyse — Tue, 11 May 2010 23:11:38 GMT

I am spending all my cash on tuition so I want have to much student loans. For me it is easy to pay off a credit card because its there in my face everyday but loans I know I have until I graduate to pay those back.