topic Re: Compass... What are you doing? in Credit Cards

Compass... What are you doing?

TiggerDat — Mon, 21 Oct 2013 21:53:32 GMT

In January I got a preapproval for a Compass Bank Clear Points card, to my surprise. I applied and got approved for a nice CL, the highest at the time and the highest to date. I called them to understand how they work and they said the limit may never increase unless I ask for it! In some ways this surprised me, in others it did not.

So skip ahead to yesterday. I get a notification of activity to my CR. It was a limit increase to my Compass Bank card. It was a complete and utter shock and a pleasant one.

For a long time I have had a revolving balance on the card of about 15%. (It is not actually my balance, it is my sister's balance. I loaned her the account so my money is not tied up. Last month she used it again for a car repair.) I think Compass likes revolving balances and that factors into their decision to raise limits. While the increase wasn't that much, $500, it was something, and for that I am happy. Surprised and happy. Now I wish Discover and Chase would follow suit.

Re: Compass... What are you doing?

alvon123 — Mon, 21 Oct 2013 22:04:00 GMT

What was your credit limit and credit score at the time of app if you don't mind me asking?

Re: Compass... What are you doing?

TiggerDat — Mon, 21 Oct 2013 22:30:10 GMT

My limit was initially $8000 and my score was around 700 when it was first opened. My score is a little lower now due to all the new accounts. I have 10 new accounts.

Re: Compass... What are you doing?

MACFRME — Mon, 21 Oct 2013 23:11:59 GMT

Ha! Congrats on the CLI!

They approved me for the max CL of $15,000 on the ClearPoints card. I almost feel demotivated because I know the card will never grow. Will defintely keep it because it is my jhighest CL right now though!

Re: Compass... What are you doing?

TiggerDat — Mon, 21 Oct 2013 23:15:29 GMT

At some point you might be able to upgrade to a product change.