topic Re: Credit Line Increases in Credit Cards

Credit Line Increases

Anonymous — Tue, 15 Jul 2008 06:53:24 GMT

I just got my first statement today from BoA. I charged like $165 on it and the limit is $5k. I did the pre-approval thing and it said I could get a $7.5k limit but ended up with a lower limit. Since then my score has gone up from to 728 (before I got the card) to 761 (after I got the card and lowered my util some). Is it too soon to ask for a CLI to 10k or should I wait a couple months. My goal is to get to 15k.

Also how can I get Citi to raise my CLI. Can I call a backdoor number to increase it? Everytime I click the love button it wants me to fill out a form. I have held a balance for a decent amount of time but it is because I did a balance transfer for a 10k ring lol. But I still have been making 1k+ payments months and up until my recent card I just got above, any and every purchase I make went on this card. I haven't had an increase in probably over a year and really want one. My card should be paid off by mid August. What is the best way for me to increase this card in your opinion without getting a hard pull?

Message Edited by Nmbr1ballr on 07-15-2008 02:53 AM

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 07:09:44 GMT

Yeah, before, I would just click the LUV button and it would give me an automatic increase. Now a form shows up. I just normally click back. But I heard they can see that!!! lol

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 08:45:05 GMT

These days, it probably doesn't pay to be chomping at the bit to get a CLI. I would wait until September or so, then try again. Your score probably does make you eligible for a better credit line, but in romance and credit card negotiations, never look desperate. :-)

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 13:13:07 GMT

If you call the backdoor number for a credit analyst at BOA and explain your preapproval situation, they might be willing to raise your CL. Other members including myself have had good success with the BOA backdoor number.

As for Citi, as NWM said you probably want to wait that one out for a little bit. It seems they gave you a couple auto-CLIs so far, so if you want more it'll cost you a hard.

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 19:16:13 GMT

If I end up getting an increase by having to do a pull, then I might request $20,000. If I have to get a hard out of it, might as well make it worth while. If it isn't granted, will they counter it with a raise anyway just not as high?

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 19:29:57 GMT

Nmbr1ballr wrote:
If I end up getting an increase by having to do a pull, then I might request $20,000. If I have to get a hard out of it, might as well make it worth while. If it isn't granted, will they counter it with a raise anyway just not as high?

Yes, Citi does counter if you ask for too much, but I'm not sure how they'd respond to a request that's unreasonable. They may just deny altogether.

DF's Sears MC had a $3900 CL for several years. She requested a CLI to $7K, and they brought her to $5100 (stingy).

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 20:01:48 GMT

What in your opinion is unreasonable? Current CL is 11k. Haven't been raised in over a year.

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 20:03:21 GMT

Nmbr1ballr wrote:
What in your opinion is unreasonable? Current CL is 11k. Haven't been raised in over a year.

Well, in that case, I don't think $20K sounds unreasonable to at least ask for. I don't think you'll get that much, but they may counter.

If it was a $5K or $7K CL, that would be a different story.

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 20:09:06 GMT

Also, this is the card I have. It was my first credit card I received. Now that I am done college, I feel like it isn't a worthwhile card compared to something else. Do you think I am right? It says "for college students". Do you know how to find out the top CL given on such a card? I know many cards offer a CL cap at like 25k or so I believe.

https://www.citicards.com/cards/wv/cardDetail.do?screenID=908&origincontentId=COLLEGE&CONTENT_TYPE=constituency_detail

Edit: Not sure how to make that appear as a link

Message Edited by Nmbr1ballr on 07-15-2008 04:08 PM

Message Edited by Nmbr1ballr on 07-15-2008 04:09 PM

Re: Credit Line Increases

Anonymous — Tue, 15 Jul 2008 22:10:17 GMT

And do you know what score they actually pull when you do get a hard for a CLI from Citi?

Re: Credit Line Increases

jsmith12345 — Tue, 15 Jul 2008 22:46:02 GMT

BOA doesn't require you to put an amount in for your CL, just leave it blank and they will give you the maximum increase you qualify for. With your scores and payment history I think you'll be in good shape. They are still one of the more "easier" CLI's to get IMHO...