BBVA Pre-approval amount = CLI ?

[NoMoreE46]

So I have had the ClearPoints card from BBVA since March with a $5800 SL.  I would like to request a CLI soon.  I know the request is a HP.   

I also checked their pre approval site and have an offer of $4500 for the Rewards card.  I am not interested in this card and prefer to increase my ClearPoint's limit.

Given that am pre approved for this $4500, would it bode well for me to request this $4500 as a CLI for my ClearPoints instead?   Thanks for any input/experience.

[ocheosa]

In my opinion it wouldn't hurt to try. You're at 8 months which is when I asked for a CLI and was approved. When I requested my CLI they didn't ask me for an amount, just the usual ID questions and income. I was told the department who handles it approves what they felt appropriate. Another member reported they were asked for an amount, so it's definately a YMMV.

GL!

ETA: 8/2019 SL $11K, 4/2020 +9K CLI. Thinking about requesting a second CLI in 4/2021 before accts are converted to PNC.

[DaveInAZ]

I got my ClearPoints in March 2019 $6100 SL, auto CLI to $7900 in Oct. 2019, so BBVA does do auto CLIs. I keep my credit reports locked and won't take a HP just for a CLI.

Do you bank with BBVA? Their Rewards card becomes a 2% all purchases card with a $1k monthly "direct deposit" into a BBVA checking account. I have a BBVA checking and a monthly $1k ACH from Marcus or Penfed gets the 2% rewards for me. And BBVA usually sends out monthly specials for the Rewards card. I currently have 3% extra rewards for groceries for Nov. & Dec. for a total of 5% up tp 3,000 extra points, a $2k spend. Handy as I buy most groceries at my local Walmart that codes as groceries and the 5% rewards intro on my Cap One Walmart store store card ended in Oct.

And did you happen to get and offer for their Select card? It has a $500 SUB for $4k spend in 3 months. The $99 AF is waived the first year and the rewards really don't justify the AF for me, but with PNC buying out BBVA mid 2021 I don't think there will be any repercussions doing the SUB and canceling before the AF hits, so I'm thinking of going for it.

[FinStar]

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@DaveInAZ wrote:

I got my ClearPoints in March 2019 $6100 SL, auto CLI to $79000 in Oct. 2019, so BBVA does do auto CLIs. I keep my credit reports locked and won't take a HP just for a CLI.

Do you bank with BBVA? Their Rewards card becomes a 2% all purchases card with a $1k monthly "direct deposit" into a BBVA checking account. I have a BBVA checking and a monthly $1k ACH from Marcus or Penfed gets the 2% rewards for me. And BBVA usually sends out monthly specials for the Rewards card. I currently have 3% extra rewards for groceries for Nov. & Dec. for a total of 5% up tp 3,000 extra points, a $2k spend. Handy as I buy most groceries at my local Walmart that codes as groceries and the 5% rewards intro on my Cap One Walmart store store card ended in Oct.

And did you happen to get and offer for their Select card? It has a $500 SUB for $4k spend in 3 months. The $99 AF is waived the first year and the rewards really don't justify the AF for me, but with PNC buying out BBVA mid 2021 I don't think there will be any repercussions doing the SUB and canceling before the AF hits, so I'm thinking of going for it.

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Holy CLIs Batman!  That's a huge CLI in 7 months!  I'm assuming you meant $7,900?  I believe they cap at $40K on some products.

[DaveInAZ]

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@FinStar wrote:

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Holy CLIs Batman!  That's a huge CLI in 7 months!  I'm assuming you meant $7,900?  I believe they cap at $40K on some products.

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Oopsie, got a little carried away with the zeroes, fixed.

[NoMoreE46]

Thanks for all this great info @DaveInAZ ,

I wish I got this card a year earlier like you.  I applied right when C-19 was taking off and nicknamed it as my Covid card.

Anyway, I have put $8,600 through it since March 2020 but no auto CLI.    I pre-qualified for the Rewards card not the Select neither are right for me.   I did open a checking account in Sept for a $200 SUB that pays out in March.  I DD the minimum $500/month for the SUB.  I could swing $1,000/month but I'd rather not.  Actually, I've had my eye on the PNC Cash Rewards Visa for a while.  To me, the 4/3/2/1 on Gas/Restaurants/Grocery/All else would be a great every day card.  To keep the checking SUB. I have to keep the account open for 12 months.  Thus, I will hang tight post merger and see what, if anything happens.   

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@DaveInAZ wrote:

I got my ClearPoints in March 2019 $6100 SL, auto CLI to $7900 in Oct. 2019, so BBVA does do auto CLIs. I keep my credit reports locked and won't take a HP just for a CLI.

Do you bank with BBVA? Their Rewards card becomes a 2% all purchases card with a $1k monthly "direct deposit" into a BBVA checking account. I have a BBVA checking and a monthly $1k ACH from Marcus or Penfed gets the 2% rewards for me. And BBVA usually sends out monthly specials for the Rewards card. I currently have 3% extra rewards for groceries for Nov. & Dec. for a total of 5% up tp 3,000 extra points, a $2k spend. Handy as I buy most groceries at my local Walmart that codes as groceries and the 5% rewards intro on my Cap One Walmart store store card ended in Oct.

And did you happen to get and offer for their Select card? It has a $500 SUB for $4k spend in 3 months. The $99 AF is waived the first year and the rewards really don't justify the AF for me, but with PNC buying out BBVA mid 2021 I don't think there will be any repercussions doing the SUB and canceling before the AF hits, so I'm thinking of going for it.

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[FieryDance]

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@DaveInAZ wrote:

I got my ClearPoints in March 2019 $6100 SL, auto CLI to $7900 in Oct. 2019, so BBVA does do auto CLIs. I keep my credit reports locked and won't take a HP just for a CLI.

Do you bank with BBVA? Their Rewards card becomes a 2% all purchases card with a $1k monthly "direct deposit" into a BBVA checking account. I have a BBVA checking and a monthly $1k ACH from Marcus or Penfed gets the 2% rewards for me. And BBVA usually sends out monthly specials for the Rewards card. I currently have 3% extra rewards for groceries for Nov. & Dec. for a total of 5% up tp 3,000 extra points, a $2k spend. Handy as I buy most groceries at my local Walmart that codes as groceries and the 5% rewards intro on my Cap One Walmart store store card ended in Oct.

And did you happen to get and offer for their Select card? It has a $500 SUB for $4k spend in 3 months. The $99 AF is waived the first year and the rewards really don't justify the AF for me, but with PNC buying out BBVA mid 2021 I don't think there will be any repercussions doing the SUB and canceling before the AF hits, so I'm thinking of going for it.

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Based on what I read from DoC and Reddit BBVA is very easy to get approved for and is not at all inquiry sensitive.  The Select card unofficially requires an annual income of $100k or more but is otherwise just as easy.  It is indeed a great SUB card and if you are interested and your income qualifies you shouldn't have to wait for preapprovals. 

My own little DP: I opened a BBVA checking acct in July and have been getting preapprovals for ClearPoints and Rewards since Oct but not for Select.  Then I received the widely targeted offer of unlimited 5% cash back on all purchases till end of 2020 if I open any BBVA card within the month of November.  So I went ahead and applied for Select and was approved without any issue.  And I have read many other DPs on Reddit with similar pleasant experience.  Good luck if you go for it!  

To OP, my situation is different but I was approved for a higher limit than the preappproval.  BBVA seems like a very generous lender so far and I wonder if the pending merge might also be influencing its underwriting.  (The more customers the merrier?)  Good luck!  

[NoMoreE46]

@FieryDance @DaveInAZ @FinStar @ocheosa ,

To close this thread out, I waited until Feb to call.   CSR asked what I wanted my new limit to be-  I said $12,000 and it was granted.

Thanks again for your input.  

[FinStar]

Thanks for the update @NoMoreE46.  Glad to hear things worked out with the CLI request, so congratulations!👍

Locking the thread per your request and the CLI approval.  Feel free to start a new thread in the Approvals forum if you wish to do so.