topic Re: Now what? Should I CLI any of these? in Credit Cards

Now what? Should I CLI any of these?

Anarchy — Sun, 25 May 2014 04:19:13 GMT

I'm in a very fortunate dilema:

Best Buy Card: 3000 / $0 balance

Chase Sapphire: 5000 / $0 balance

Discover It: 9000 / $0 balance

Citi Bank 5400 / $0 balance

Bank of America 5000 / $0 balance

Cap 1 4500 / $0 balance

Target 1000 (LoL) $0 balance

Amex Zync $0 balance

Amex Blue Cash Everyday 6000 / $0 balance

So 40k in available credit with $0 balance.

Took me about a year to pay down 8k in debt, and now I'm debt free.

Last Fico check was 823 I believe, so my question to you all.... now what? Should I CLI any of these? Obviously I don't need the extra credit but wouldn't this be my next option? I really don't wany any hard inquiries. So I don't know. I'm 34 years old by the way if that matters. I wouldn't mind increasing my Target card but I believe that's a hard inquiry. Thank you in advance to those who respond.

Edit: Chase Sapphire and BoA card have never given/offered me an increase.

Both cards over a year with - how would you go about?

Re: Now what? Should I CLI any of these?

takeshi74 — Sun, 25 May 2014 04:25:56 GMT

What are you trying to do? That would determine what you should do. If you're HP averse then that will reduce your list of CLI options.

Re: Now what? Should I CLI any of these?

mongstradamus — Sun, 25 May 2014 04:25:22 GMT

@Anarchy wrote:
I'm in a very fortunate dilema:

Best Buy Card: 3000 / $0 balance
Chase Sapphire: 5000 / $0 balance
Discover It: 9000 / $0 balance
Citi Bank 5400 / $0 balance
Bank of America 5000 / $0 balance
Cap 1 4500 / $0 balance
Target 1000 (LoL) $0 balance
Amex Zync $0 balance
Amex Blue Cash Everyday 6000 / $0 balance

So 40k in available credit with $0 balance.
Took me about a year to pay down 8k in debt, and now I'm debt free.

Last Fico check was 823 I believe, so my question to you all.... now what? Should I CLI any of these? Obviously I don't need the extra credit but wouldn't this be my next option? I really don't wany any hard inquiries. So I don't know. I'm 34 years old by the way if that matters. I wouldn't mind increasing my Target card but I believe that's a hard inquiry. Thank you in advance to those who respond.

Edit: Chase Sapphire and BoA card have never given/offered me an increase.
Both cards over a year with - how would you go about?

Boa and chase are usually HP if you initiate them, you can try and be patient and wait for auto CLI. If you don't really need any additional credit I would leave things as they are now.

Re: Now what? Should I CLI any of these?

Anonymous — Sun, 25 May 2014 04:37:48 GMT

@mongstradamus wrote:
@Anarchy wrote:
I'm in a very fortunate dilema:

Best Buy Card: 3000 / $0 balance
Chase Sapphire: 5000 / $0 balance
Discover It: 9000 / $0 balance
Citi Bank 5400 / $0 balance
Bank of America 5000 / $0 balance
Cap 1 4500 / $0 balance
Target 1000 (LoL) $0 balance
Amex Zync $0 balance
Amex Blue Cash Everyday 6000 / $0 balance

So 40k in available credit with $0 balance.
Took me about a year to pay down 8k in debt, and now I'm debt free.

Last Fico check was 823 I believe, so my question to you all.... now what? Should I CLI any of these? Obviously I don't need the extra credit but wouldn't this be my next option? I really don't wany any hard inquiries. So I don't know. I'm 34 years old by the way if that matters. I wouldn't mind increasing my Target card but I believe that's a hard inquiry. Thank you in advance to those who respond.

Edit: Chase Sapphire and BoA card have never given/offered me an increase.
Both cards over a year with - how would you go about?
Boa and chase are usually HP if you initiate them, you can try and be patient and wait for auto CLI. If you don't really need any additional credit I would leave things as they are now.

+1 With no debt you control what reports each statement so there is no utilization issue. So no great need to expend HPs on CLI attempts, especially (and only you know) if a bigger CL might encourage you into debt again. Also, look at your spending and see if there is a major area where you are not getting good rewards, and maybe save the HP for a card to fill that gap, if and when you want to.

Once credit is working, there is no real need to force it to grow!

Re: Now what? Should I CLI any of these?

Anarchy — Sun, 25 May 2014 04:39:36 GMT

Great advice guys, thank you.

Re: Now what? Should I CLI any of these?

CribDuchess — Sun, 25 May 2014 16:54:52 GMT

Great job on paying off your debt!! If you're at all interested in CLI (soft pulls, of course), you could go for a 3x on your Amex if it has been 6-months since your last CLI. You can do this easily online (I just did it myself an hour ago). You can also call the number on the back of your Discover card and go through the automated prompts, eventually reaching the option to request a limit increase. I just did this yesterday and received a $2,500 increase (no HP involved).

Good luck!