Are creditors more lax during the holidays for new applicants?

[kdm31091]

I doubt they are really more lax with approvals just because its the holiday season. Creditors are not emotional or in a more "giving" mood because of holidays. I think any sense of them being more lax is just coincidental.

[elim]

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@kdm31091 wrote:
I doubt they are really more lax with approvals just because its the holiday season. Creditors are not emotional or in a more "giving" mood because of holidays. I think any sense of them being more lax is just coincidental.

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  emotional?  really?   pretty sure everyone knows big banks aren't driven by emotions.

   i'm thinking as opportunity for investment escalates (holiday shopping), they would like to increase returns (interest on holiday purchases), and therefore get more product out there to be used (and make more $$$).   seems to apply to CLI's for me lately

[olehammer]

Hope so! Looking to add a third revolving trade line this month.

[rlx01]

@kdm31091: this is the time when balances increase and people start revolving. All banks want a piece of that.

[tntexans72]

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@rlx01 wrote:
@kdm31091: this is the time when balances increase and people start revolving. All banks want a piece of that.

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Plus they know tax return is around the corner so most ppl will use their tax return to pay down debt. 

[Anonymous]

In the past week I've gotten cli's on two cards and an increase on a 3rd card a couple weeks ago.

[rlx01]

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@tntexans72 wrote:

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@rlx01 wrote:
@kdm31091: this is the time when balances increase and people start revolving. All banks want a piece of that.

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Plus they know tax return is around the corner so most ppl will use their tax return to pay down debt. 

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Exactly. I didn't want to spell that out though. Spending increases a lot Nov-Dec-Jan, and decreases Feb-March-April, until tax returns start coming in to pay down debts.

[tntexans72]

I picked up 4 cards late last year and already picked up 6 cards L2 months. I always wait til October-December to app. I also closed out 3 cards when the AF hit this year. Just repeat the cycle and earned points lol. 

[Anonymous]

I work in the finance industry as a Sr. Financial Analist. Within the companies I have worked for I can say one thing....for new accounts....no...they use the same underwriting guidelines year round. For a CLI on an account that is already established with good payment history, and the key word here is utilization (usually look for less than 30%) they are more prone to give a higher credit line increase than normal because they know that your spending habbits will more than likely increase. Now I am not saying this is with every single creditor I only know this to be true with the one's that I have worked for. Now this seems to work when "calling in" not using a computer generated system. And since I know people will ask I have worked for American Express, GE Capital (Synchrony Bank), and bank of america.

[tntexans72]

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@Anonymous wrote:

I work in the finance industry as a Sr. Financial Analist. Within the companies I have worked for I can say one thing....for new accounts....no...they use the same underwriting guidelines year round. For a CLI on an account that is already established with good payment history, and the key word here is utilization (usually look for less than 30%) they are more prone to give a higher credit line increase than normal because they know that your spending habbits will more than likely increase. Now I am not saying this is with every single creditor I only know this to be true with the one's that I have worked for. Now this seems to work when "calling in" not using a computer generated system. And since I know people will ask I have worked for American Express, GE Capital (Synchrony Bank), and bank of america.

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Just curious, is it better to ask for the cli with a zero balance or 10-20% balance? Or is it YMMV