Hi,
Looking for data points, before I become the data point I want to see. Thanks for any insight.
Current Exposure to USB, pay off 100% monthly never carry a balance, all new and less than 3yr except cash+ from 2016.
Cash+ 2k
Cash+ (2) 14k
Altitude GO 14k
Altitude Reserve 14k
Recently declined for the new Connect card. Sorry, don't have the reason codes from the letter, but the phone supervisor said I had too many cards with USB. I assume she means exposure not actual cards. My first ever decline from USB.
I know I cannot move limits between cards.
I know USB is inquiry senstive. I get around that by outsized deposits and investment activity.
Question--
#1 If I close all cards except AR, can I start working up a limit on the AR to meet or preferably exceed my net exposure currently? I really have suddenly got tired of reward chasing/card managment and I'm going to just settle on this and the CITI Costco card.
#2 What is a resonable limit to target as a percentage of income (e.g. 50% of 100k a yr) considering they will be the majority of my unsecured credit.
#3 Is there a known hard limit for the AR? Similar to BofA 99k limit?
#4 Can I call underwriting and request a manual CL adjustment inside the 6mo since my AR got a limit increase less than 6mo ago?
#5 Should I close the cards first then call underwriting? Or do it all at once?
Thanks!
Well, here goes!!! I just called USB and canceled my USB GO and Cash+ (1&2). There goes 30k in limits, hopefully, I can get them back in October when my 6mo window opens for a CLI on the AR. I'll call up instead of using the online request and put in a manual request. If they decline me, I'm pulling everything and going to BofA, perhaps WF. I might go where I already have accounts which are BECU, or First Tech.
@IntegerIntrovert wrote:Well, here goes!!! I just called USB and canceled my USB GO and Cash+ (1&2). There goes 30k in limits, hopefully, I can get them back in October when my 6mo window opens for a CLI on the AR. I'll call up instead of using the online request and put in a manual request. If they decline me, I'm pulling everything and going to BofA, perhaps WF. I might go where I already have accounts which are BECU, or First Tech.
We are with BECU and they keep offering us 0% balance transfers (we have no credit card balances, lol) and now they offer the cashback card with a $300 sign-up bonus if you don't have it yet. That is $300 we never got :-(. But their service is superb that is why we are still banking with them even though we are in Montana now. The few times we had less than perfect service they always made it right which is all I ask for. We all make mistakes but if you own up to them I can only applaud that. The only negative I guess is that CLI's are HP with them.
Well, I was impatient and called Underwriting and requested 30k in AR CLI to replace the lost CL's from the closed cards. They declined it. I pulled all assets today.
So you closed an excellent card like the AR and pulled all your assets from the bank because they wouldn't give you a CLI?
