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CLI questions

spedteacher1
New Contributor

CLI questions

I am trying to find ways to get my overall UTI under 50% for my mortgage score to improve.  I can not get them to AZEO right now.  I am at 56%.  Moving, but slowly.  I have these cards with balances:

Amex cash rebate - 47%/22200

Upromise Barclay - 67%/19700

USAA MasterCard - 66%/21000

Disney Chase - 64%/7600

10 cards at 0%

1 card where I am an AU (1% usage/11000)

HELOC - 90%/93000

----16 accounts total

 

I have had all the CC for over 10 years (some even 25).  Can I ask for CLI on any of the cards or no because I still have such a long way to go to paying them off?  Over the last year I have brought them all down from 95% uti.

If yes, any that have a SP so I don't have the HP on my record?

Thank you!

Message 1 of 10
9 REPLIES 9
blindambition
Community Leader
Senior Contributor

Re: CLI questions

To be honest, I wouldn't expect a CLI on Amex, Chase, or Barclays, not sure about USAA. Those are some higher utilization's, and dealing with some lenders known to be more conservative.

Message 2 of 10
SecretAzure
Valued Contributor

Re: CLI questions

Hi, that's quite a lot of debt you have there but fortunately, it seems spread out in a mostly convenient way. I think you're headed in the right direction with your line of thinking.


Of the cards you listed, I believe only the Amex will allow a CLI with a soft pull. The other ones will want to hard pull you. You also stated that you have 10 other cards with no balances. If any of those are with Sync, Amex, Capital One (sorry, can't think of another easy one right now, 1 hour of sleep last night) ask for a CLI on these cards because they will be a soft pull and could still improve your utilization.

 

Also, another thing to note, while you can't get a CLI with a soft pull, many lenders (such as Barclays) may approve an APR reduction which could save you money.  In rare circumstances Barclays grants a soft pull CLI if you have the right profile (nobody knows what that means but there is a thread showing many getting a soft pull CLI and also an APR reduction just by calling and asking).

 

Get every single soft pull CLI that you can and it will help your situation. 

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MCMust garden until 2/1/2022 to hit my goal AAOA. Smiley Indifferent
Message 3 of 10
spedteacher1
New Contributor

Re: CLI questions

@SecretAzure If I ask for a reduced APR does that affect my ability to refinance my mortgage - will my score be affected at all?  I have not heard of doing that before.

Message 4 of 10
dragontears
Valued Contributor

Re: CLI questions


@spedteacher1 wrote:

@SecretAzure If I ask for a reduced APR does that affect my ability to refinance my mortgage - will my score be affected at all?  I have not heard of doing that before.


APR is not reported to the CRA so your credit score is not affected by APR  changes 

Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 5 of 10
randomguy1
Valued Contributor

Re: CLI questions

When are you planning to apply for a mortgage btw?

Message 6 of 10
spedteacher1
New Contributor

Re: CLI questions

@randomguy1 I was hoping to apply for my cash-out refinance by March 1st.  I have the equity in my house.  I owe $200k and my house is worth a drop over $500k.  A few people just listed my same house at $540k, so if those sell quickly (which they have been in my area), my value will go up.   I would like to take an additional $150k out to put towards my remaining debt and do some home improvements.  I feel like I need to get my MMS above 700- I have been working on it!  It was 689 last time I checked, which was quite a few weeks ago. 

Message 7 of 10
spedteacher1
New Contributor

Re: CLI questions

I just pulled another report- I am at 694 now.  So close.  

Message 8 of 10
randomguy1
Valued Contributor

Re: CLI questions


@spedteacher1 wrote:

I just pulled another report- I am at 694 now.  So close.  


Do you have a P2 (wife/husband/SO) that you can trust? If they have an older card that has a large credit limit that they do not use, then adding an AU would help. It might take a month or so to update though.

Message 9 of 10
spedteacher1
New Contributor

Re: CLI questions

Thanks, unfortunately my husband and I both have the same scores.  His Fico is a bit higher but our mortage scores are the same.  I am already an AU on his cards, and him on mine. I think I might take another card to zero using some money I have put aside for something else.  That will bring me to 5/16 with balances.  One of those I am an AU (my mom) and one is our HELOC.  Hoping that move from 7/16 to 5/16 will help.

Message 10 of 10
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