topic Re: Should I request a CLI? in General Credit Topics

Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 16:08:34 GMT

I ONLY have 13500 max available credit. Would I benefit requesting a CLI to boost my available credit? How much does available credit weigh over credit inquiries? Also, I have a Capital One that regularly gives me increases as well as Walmart, but my youngest, BOA (a little over 1 year old) has NEVER given me an increase. Should I request a CLI? Or just wait it out?

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 16:13:05 GMT

Do you mind posting some data points.....credit scores, inquiries, number of accounts, AAOA.....thanks!!

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 16:22:53 GMT

Sure! My credit score by fico standards (not fako) is 722. Inquiries are 4. AAoA is 8. And I'm not sure how many I have... college loans are throwing it off... but I THINK 9 total. I have 3 open, 3 school loans, and 3 closed iirc

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 16:37:05 GMT

Your profile IMO looks great to request a cli from BofA. It is definately a HP but if it has been over a year and your payment history is good and utilization is in line, I think you will do well. Remeber to go high and let them counter. As far as inquiries, you look pretty good. How recent are you 4 inq..? In regards to waiting it out...I just spoke with BofA about an auto increase on my account and they stated that it rarely happens any more...Let us know how it goes...Thanks!!

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 16:57:55 GMT

@Anonymous wrote:
I ONLY have 13500 max available credit. Would I benefit requesting a CLI to boost my available credit? How much does available credit weigh over credit inquiries? Also, I have a Capital One that regularly gives me increases as well as Walmart, but my youngest, BOA (a little over 1 year old) has NEVER given me an increase. Should I request a CLI? Or just wait it out?

The size of your credit limits (either total or individual) is not a FICO scoring factor. Suppose Bob and Fred each have four credit cards and (say) 5% utilization. Bob's cards have credit limits of 1k each and Fred's are 20k each. Fred will not get even 1 extra point for having the huge credit limits. All that matters there is the utilization.

You could spend 20k a month on your cards (given your credit limits) and still have a very low utilization. You'd just need to pay your cards down a few times.

On the other hand, if you'd like a CLI, feel free to ask for one. Nothing wrong with that.

As Doinit explained, BOA definitely does a hard pull for CLI requests. Many issuers do not, but BOA does. This link may be helpful as you look into getting CLIs:

http://www.doctorofcredit.com/maximize-your-credit-limits-for-the-citi-gold-deal/

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 17:43:20 GMT

I had assumed that ALL requests are a hard pull! I think I'll wait until some of my inquiries fall off until I do BofA, but I can do Capital One now as I have NEVER requested an up! Also, does anyone know if Walmart does a hard pull on request?

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 17:50:18 GMT

I had NO idea it could be so easy CO just gave me $2k INSTANTLY without bumping my credit!

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 18:14:38 GMT

Delighted to hear that that link was a help! Best of luck...

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 18:41:34 GMT

Congrats on your increase!! For Walmart, call credit solutions for Synchrony Bank and request high. It will be a soft pull and you will probably be successful as well.

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 18:47:22 GMT

Question... on Walmart could I get away with using the request feature online instead of calling? I avoid phone calls where possible.

Re: Should I request a CLI?

Anonymous — Mon, 13 Mar 2017 22:05:01 GMT

Your best result in this situtation would be to call credit solutions. I am sure many would agree on this forum. I have always had better results calling. I got my Walmart Mastercard May of 2016 with a SL of 2K. I am now sitting at 10K. I received all of my increases via Credit Solutions. All that they will ask you is you net yearly income and the increase amount you are requesting. They will counter your request if not approved.....give it a shot...you can't lose...

I will say that you can request it online and via chat...my best results have come via calling...good luck!!!

Re: Should I request a CLI?

SouthJamaica — Tue, 14 Mar 2017 02:39:55 GMT

@Anonymous wrote:
Your best result in this situtation would be to call credit solutions. I am sure many would agree on this forum. I have always had better results calling. I got my Walmart Mastercard May of 2016 with a SL of 2K. I am now sitting at 10K. I received all of my increases via Credit Solutions. All that they will ask you is you net yearly income and the increase amount you are requesting. They will counter your request if not approved.....give it a shot...you can't lose...

I will say that you can request it online and via chat...my best results have come via calling...good luck!!!

If you want a big credit limit increase, definitely calling Credit Solutions is the way to go.

Their CSR's are friendly and their CLI system is generous.

I too avoid phone calls when possible, but Credit Solutions is the exception.