CFU CLI denied

[Heatt99]

Just some DPs for others to use. Card is 8 months old. The app did not suggest a CLI, so I called in--SP. 

Reason: too high of overall debt-to-income

Which would mean 55k debt/100k income.

On paper I owe 35k across four cards. It sits on zero percent APR cards. CFU 9k limit @ 30% usage at time of request.

I usually get CLI based on high usage within the 0% intro period. Not with Chase.

Extra DP:

15 CC: 286K total--15% utilization.

1 installment: 15k balance / 48 mo in. 60 mo term

AAOA: 17yrs

Stated income: 100k

Stated rent: 1,400

Paid the card off this week. Will still use at drugstores, but will focus on other cards that have a higher chance of SP CLI.

[CreditPoor]

Banks appetite for lending is getting tighter.  You owe 35k across multiple cards and have 30% utilization on the card you're seeking a CL increase on. Flat out the bank considers you to be risky and over extending yourself. You would need to zero out those balances and not carry a balance for a couple months 

[keekers]

Bummer. Better luck next time.

[FicoMike0]

Sorry about that, better luck next time.

I've done two cli s recently. The first, amex, I did nothing special, asked for 3X $9000 and got the $27000. The next, wells, I tried to game. I waited for amex to post the new cl. I made sure my utilization s were under 9%. Then I waited for wells monthly sp, they showed my score over 800 and dti < 5%. I asked for $20000 from $8500. They approved $10700. I was expecting more for the effort.

[swankytiger]

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@FicoMike0 wrote:

Sorry about that, better luck next time.

I've done two cli s recently. The first, amex, I did nothing special, asked for 3X $9000 and got the $27000. The next, wells, I tried to game. I waited for amex to post the new cl. I made sure my utilization s were under 9%. Then I waited for wells monthly sp, they showed my score over 800 and dti < 5%. I asked for $20000 from $8500. They approved $10700. I was expecting more for the effort.

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iirc wells fargo tends to not like utilization vs total credit limit being too low and they dont like too high of a credit limit available vs income.