topic Re: Cli & utilization in Credit Cards

Cli & utilization

Anonymous — Wed, 17 Sep 2014 18:40:10 GMT

Hello,

to help my score in regards to the overall utilization, I have a card that is at 3500 of 4500, is it possible to ask for a cli or it looks bad with so much of a balance?

Re: Cli & utilization

coldnmn — Wed, 17 Sep 2014 18:43:57 GMT

In my opinion anything over 50% it's not likely. It does depend on your credit file and bank.

Re: Cli & utilization

Luscher — Wed, 17 Sep 2014 18:49:37 GMT

I would say get it down to around 25% and then ask for a cli.

Re: Cli & utilization

JSS3 — Wed, 17 Sep 2014 22:56:49 GMT

I got my Citi TYP in March of this year. Balanced Transferred to the card and currently putting all my monthly expenses on it. I've been carrying a Util of around 80% about 3-4 months out of six with this card. My previous balance was 3450/4500. I paid 1700 to them and hit the luv button right before my statement was to cut and received a 600 increase. New limit reported to the bureaus when statement cut the next day.

Other points:

-I have a year old Citi card that went from 1200 > 2600 after 6 months.

-I have overall utilization of 30%

-13 accounts. 1 card at 90%. 2nd card at 80% and the 3rd at 80%. Usually they were the only three cards reporting. This last month I had a card reporting 500 and another reporting 5 dollars. So five cards reporting of 13. Depending on when the soft pull was taken, those numbers look different.

I have an AAoA of 11 months on CreditKarma. While other places count my student loans from 11 yrs ago into my account age. Don't really know what Citi or other cards believe is my AAOA(although I'm guessing they're going with the less than one year since most letters I get say, "Length of history too short").

So, it would seem to me that Citi just gives credit limit increases like clockwork at the 6 month mark, period. I could be wrong though.

EDIT: If you're at the 6 month mark hit the luv button and try your luck. You lose nothing since it's a soft pull.

Re: Cli & utilization

SunriseEarth — Thu, 18 Sep 2014 00:34:35 GMT

@Anonymous wrote:
Hello,

to help my score in regards to the overall utilization, I have a card that is at 3500 of 4500, is it possible to ask for a cli or it looks bad with so much of a balance?

It depends on the lender. The SyncB/GECRB store cards and Discover don't seem to mind balances, for some. Others, like AMEX, defininitely frown on it. What lender is is? What's your overall profile like?

Re: Cli & utilization

JSS3 — Thu, 18 Sep 2014 00:39:31 GMT

Oh my...I misread the title. I thought it said Citi & Utilization. LOL.

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 01:05:57 GMT

What about two other cards that one is zero balance and the other is the daily... Can I hit the love button for those or perhaps wait til they show as zero on the reports?

Re: Cli & utilization

JSS3 — Thu, 18 Sep 2014 01:33:09 GMT

@Anonymous wrote:
What about two other cards that one is zero balance and the other is the daily... Can I hit the love button for those or perhaps wait til they show as zero on the reports?

The advice given on these boards are given with optimal reports= the very best results in mind. Technically, you can do anything you want, but will the outcome be the best? I received a 500 increase on my Cap1 card that was at 80% and also received a 600 increase on my Citi card that was at 80%. Now, one can speculate that had I waited until I had lower UTIL, I would've gotten more. Glass half empty. On the other hand, another would say I was still able to get any increase with such high UTIL. Glass half full. If you feel you want to hit the luv button now, when your reports are less than ideal, and you know it'll be a soft pull, then go ahead. If you believe you can wait, then certainly do so when your reports are micromanaged down to 1 card reporting a 0 balance and the other < 9%. It's really up to you.

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 01:37:45 GMT

It's worth a try on your one with zero balance. Your daily might take some calculating on when to pay it off and when the CCC reports to the bureaus. Once you figure it out, you may not be able to use it for a minute (a few days to a week) around that reporting date.

@Anonymous wrote:
What about two other cards that one is zero balance and the other is the daily... Can I hit the love button for those or perhaps wait til they show as zero on the reports?

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 02:13:06 GMT

Well, let me also mention that I recently took 5 hits to my report. Co-signed for my wife's new car (problematic previous SUV) & I also got a new car after ten years.

Score went from 703 to 675...

much difference?

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 02:22:46 GMT

@Anonymous wrote:
Well, let me also mention that I recently took 5 hits to my report. Co-signed for my wife's new car (problematic previous SUV) & I also got a new car after ten years.

Score went from 703 to 675...

much difference?

If you're using a luv button, go for it since it's a SP. But, if you're calling in, ask the rep if it's a SP or HP. If it's a HP, kindly decline and you've lost nothing but your time and maybe a little bit of pride.

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 02:34:39 GMT

And the soft pull isn't as strict on the scoring?

Re: Cli & utilization

Luscher — Thu, 18 Sep 2014 16:17:36 GMT

soft pulls do not effect scoring at all. (just like when you pull your own credit)

Re: Cli & utilization

Anonymous — Thu, 18 Sep 2014 16:53:25 GMT

Im just wondering if its safe for me to hit the button now or wait, in other words, im sure my score will go up a few points after paying off atleast 20% or more of some bulk utilization i was running...

and if it looks better for it to get bumped and then hit the button, or if i should attempt it now, to see if i can go from 2500 to 5000 on the card i want to increase, so that once the update goes through, it will make my utilization look even better... and give me an even better score bump... make sense?