topic CLI, ask for how much exactly? in Credit Cards

CLI, ask for how much exactly?

zsepthenne — Thu, 30 Jan 2014 22:13:36 GMT

Ok I'm a rookie. Is there a general rule of thumb or any guidelines for how much of an increase to ask for? Do you just ask high and they usually counter offer?
Today will be my second time asking for a credit increase on a card. I was denied for an increase with Care Credit. I asked when I had opened all my new accounts, silly me. Today is Walmart. For some reason I feel so much like a kid asking to borrow money from their parents lol. So any advice accepted.

Re: CLI, ask for how much exactly?

Creditaddict — Thu, 30 Jan 2014 22:20:15 GMT

Well Carecredit is a HP so be careful with that one.

But Walmart also by GE is always a SP and if you have had 4 statements and 4 payments you can ask for a CLI... you could try right online... if you call I would call "Credit Solutions" listed in backdoor numbers as they can do manual review on spot... with them you ask high and they can counter.... based on sigi you don't have much to back up to much higher of CL's, so maybe ask for $2500

Re: CLI, ask for how much exactly?

zsepthenne — Thu, 30 Jan 2014 22:29:39 GMT

Thanks Creditaddict that info is helpful. So then a lot of the time it should be incremental based off of experience with current credit limits? And other factors of course?
Oh I won't bother with Care Credit again, I asked them back in October. Wish I had been on this board then, as I wouldn't have made a request.

Re: CLI, ask for how much exactly?

Creditaddict — Thu, 30 Jan 2014 22:35:23 GMT

@zsepthenne wrote:
Thanks Creditaddict that info is helpful. So then a lot of the time it should be incremental based off of experience with current credit limits? And other factors of course?
Oh I won't bother with Care Credit again, I asked them back in October. Wish I had been on this board then, as I wouldn't have made a request.

don't give up completely but be prepared for the HP when it becomes worth it... My partners Carecredit went from $800 to $12k!

Well at some point someone always had to be the one to issue higher credit then someone else, but I think overall you are more likely to see a little bit closer to current credit lines then not... and of course exceptions to the rule always... Navy Federal is known to be a pack leader... and sometimes GE on a paypal mastercard or walmart discover issueing $10k and people only have $1-2k elsewhere....

I rather ask for way more and be told no then only ask for $300 and not know that I may have left thousands on the table... if they counter I feel like I'm at the limit, if they give it, I feel I could get more!

Re: CLI, ask for how much exactly?

B335is — Thu, 30 Jan 2014 22:46:27 GMT

Walmart was my first 5 digit limit ever haha. $800 -> $2400 -> $12k But it didn't happen overnight either.

Like Creditaddict said, GE will counter-offer you if possible, so it doesn't hurt to start high.

Re: CLI, ask for how much exactly?

zsepthenne — Thu, 30 Jan 2014 22:47:33 GMT

I'm with you! I will shoot for $2500. I'd be really happy to get $2000. At least then I can keep my utilization closer to 10% on that card.
Holy cow, $12k on Care credit! I think I'd get plastic surgery just because! Veneers, braces, lipo, face lift, unneeded lasik lol

Re: CLI, ask for how much exactly?

Creditaddict — Thu, 30 Jan 2014 22:52:49 GMT

@zsepthenne wrote:
I'm with you! I will shoot for $2500. I'd be really happy to get $2000. At least then I can keep my utilization closer to 10% on that card.
Holy cow, $12k on Care credit! I think I'd get plastic surgery just because! Veneers, braces, lipo, face lift, unneeded lasik lol

LOL, I don't know where you live but I could barely get Veneers here for $12k probably!

but so far our Pom has been the only boy getting work done around here... hopefully he will be okay now and not need anything else that CareCredit needs to take care of because daddy keeps making large payments trying to get it paid off

Re: CLI, ask for how much exactly?

zsepthenne — Thu, 30 Jan 2014 23:04:50 GMT

Wow, i had no idea about veneers! Fortunately for me, (and my parents :-D), my teeth are pretty nice.
I will let you guys know what Walmart says.