CLI Strategies, looking for input

[Anonymous]

Hi All,

Looking for some advice on how to maximize some CLIs on a few card accounts.

My FICO 8 is currently sitting at the following:

Eq 715
Tu 715
Ex 712

I currently have the following card accounts:

BoA Cash Rewards 5,000 SL (4 years old)
Cap One Quick Silver 3,000 SL (~5 months old)
Citi Double Cash 5,000 SL (~5 months old)
Discover IT 6,000 SL (~5 months old) 63% Utilization
Chase Freedom 3,000 SL (~4 months old)
AMEX Cash Magnet 8,000 SL (~5 months old)
NFCU Cash Rewards 1,000 SL <30 Days old)

Total utilization is around 12-15%

The utilization on the Discover card is higher than the others as I’ve taken advantage of a 0% balance transfer offer.

I’m looking to maximize my odds of getting CLIs on the following accounts.

AMEX 3x CLI. I requested this after the account had been open for 90 days but was denied. I think I should have waited a little longer. I’ll be eligible to request the CLI again at the end of February.

Cap One QS. I believe I’m on their tiered system; the mobile app says I’ll be eligible for an increase from 3000 to 3500 after my next on-time payment, which will be towards the end of January. From what I’ve seen they can be stingy with the CLIs so I’d like to make the most of this when I request the increase. As a result, I’ve been putting the bulk of my monthly spend on this card; my understanding is that Cap1 likes heavy use on their cards.

NFCU Cash Rewards. I was hoping for a higher starting SL, but my understanding is that this is somewhat typical with NFCU and that generous CLIs can be had.

My income is 200k.

The question I have at this point, is what do I do to maximize my chances of some healthy SL increases on these three accounts? Reduce overall utilization? Change spending patterns ect? Any input or suggestions would be appreciated.

Thanks!

[Remedios]

Are any negatives present on your CR?
Your scores are a bit on a low end for a clean file, even if you have a single card with low utilization. Anex tends to be fairly sensitive to presence of negatives, especially if new members or someone who caused them loss in the past. They will approve, cards will grow, but at unpredictable intervals aka whenever they feel comfortable

Since you have BT, did you ask Disco for CLI?
If it was denied, what were the reasons?
If you did not request it, feel free. It's a SP.

Cap One expects to see a lot of use. While that's good for them, you may be losing out on rewards had you used other cards. I'd use it as when it makes sense, but QS is really not a card to keep dumping most of the spend on if you have other options.

It's too soon to ask Chase. I'd give it more time while putting reasonable spend on it
There will he a HP?

Does your citi account have SP language on CLI page?
If it does not, wait till it shows up, request SP CLI, then follow with HP request for more.
I think BoA is minimum of six months till SP CLI option show up.

[coldfusion]

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@Remedios wrote:

I think BoA is minimum of six months till SP CLI option show up.

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BoA will tell you that they consider you eligible to apply for a CLI when the "Request a credit line increase" hyperlink appears on the online account page.   If you do apply the link will vanish after that night's site update regardless of outcome and will reappear when they again consider you eligible to apply again.  Typical interval is 3 months but that is a YMMV.    Eligibility to apply for a CLI is not synonymous with a preapproval.   Rule of thumb is to ask for what you want and if appropriate there will be a counteroffer. It's not an all-or-nothing proposition.

When applying one is warned about the potential of a HP, and while there have been a few DP that reported a hard pull the overwhelming majority of requests only generate a TU SP.   

[CreditInspired]

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@Anonymous wrote:

Hi All,

Looking for some advice on how to maximize some CLIs on a few card accounts.

My FICO 8 is currently sitting at the following:

Eq 715
Tu 715
Ex 712

I currently have the following card accounts:

BoA Cash Rewards 5,000 SL (4 years old)
Cap One Quick Silver 3,000 SL (~5 months old)
Citi Double Cash 5,000 SL (~5 months old)
Discover IT 6,000 SL (~5 months old) 63% Utilization
Chase Freedom 3,000 SL (~4 months old)
AMEX Cash Magnet 8,000 SL (~5 months old)
NFCU Cash Rewards 1,000 SL <30 Days old)

Total utilization is around 12-15%

The utilization on the Discover card is higher than the others as I’ve taken advantage of a 0% balance transfer offer.

I’m looking to maximize my odds of getting CLIs on the following accounts.

AMEX 3x CLI. I requested this after the account had been open for 90 days but was denied. I think I should have waited a little longer. I’ll be eligible to request the CLI again at the end of February.

Cap One QS. I believe I’m on their tiered system; the mobile app says I’ll be eligible for an increase from 3000 to 3500 after my next on-time payment, which will be towards the end of January. From what I’ve seen they can be stingy with the CLIs so I’d like to make the most of this when I request the increase. As a result, I’ve been putting the bulk of my monthly spend on this card; my understanding is that Cap1 likes heavy use on their cards.

NFCU Cash Rewards. I was hoping for a higher starting SL, but my understanding is that this is somewhat typical with NFCU and that generous CLIs can be had.

My income is 200k.

The question I have at this point, is what do I do to maximize my chances of some healthy SL increases on these three accounts? Reduce overall utilization? Change spending patterns ect? Any input or suggestions would be appreciated.

Thanks!

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I suggest stop applying for new credit. Six CCs in less than 5 months is pretty excessive credit seeking in this climate. I believe if you let your AoYA age to 6 months, your chances of CLI approval will be much more successful.

GL2U