CLI's and app strategy

[TrialByFire]

Good morning all! I'm looking on some feedback regarding when and what order to execute the following goals:

1. CLI Chase Freedom, fingers crossed for 5k

2. CLI CSP to 8-10k

---Would it be best to do this via HP or new app/roll the limit, and if the latter, which card?

3. 3x CLI on amex BCE. Haven't had a cli on this after 1.5yrs

4. App for Barclay Ring

----Will move some CL from Rewards MC if necessary

5. Least importantly...cli on wells fargo

Can I do all of this ^^^^ w/ current balances reporting and explain they're all at $0 during recon, if necessary? Or wait til the end of the month when everything updates?

My goal overall is to increase current limits, as I don't have time (or forget) to constantly watch balances and statement cut dates. It would be nice, if a statement cuts w/ a balance, to not have to worry that much about util %. Then having to wait a month for $0 balances to report when I DO  want to app for something.

I'd like to make Freedom my everday card IF Chase will budge on that CL.

*****************************STATS******************************

INQ:                TU                 EQ                   EX

6 mo.                0                    0                       0

12 mo.              4                    1                       3

FICO 08           667                649                  675

Projected

(after balance  707                702                  705

updates)

                                             Reported bal.                    Actual bal                    CL

Freedom                                     0                                       0                              1k

CSP                                            0                                       0                              5k

AMEX BCE                               2300                                   0                              2.5k

CAP1 QS1                                1900                                   0                              2k

CAP1 PLAT                              1800                                   0                               2k

BARCLAY RMC                         0                                        0                              7k (just got auto cli on 11/1/15)

Wells Fargo                               900                                     0                              1k

Reported util = 35%

Income 100+

I've maxed everyone of these cards at some point and made large payments. All accounts opened about 18mo.

No pre-qual offers which is normal.

Thanks for any insight or experience you can provide!!!!!!!!!!!!!!!

[NRB525]

---

@TrialByFire wrote:

*****************************STATS******************************

INQ:                TU                 EQ                   EX

6 mo.                0                    0                       0

12 mo.              4                    1                       3

FICO 08           667                649                  675

Projected

(after balance  707                702                  705

updates)

                                             Reported bal.                    Actual bal                    CL

Freedom                                     0                                       0                              1k

CSP                                            0                                       0                              5k

AMEX BCE                               2300                                   0                              2.5k

CAP1 QS1                                1900                                   0                              2k

CAP1 PLAT                              1800                                   0                               2k

BARCLAY RMC                         0                                        0                              7k (just got auto cli on 11/1/15)

Wells Fargo                               900                                     0                              1k

Reported util = 35%

Income 100+

---

These are a real concern right now. I would definitely wait until they have been paid off before trying for anything.

Paying the BCE down may not be necessary, but at this utilization, if you are denied the CLI, you have to wait 90 days anyway. Why not wait a few now to raise your chances?

The Chase CLI, I have no experience with other than other recommedations to app for another card and roll the limit. Even with that, you want to wait until these three cards are paid down, and even before you ask for a direct CLI on the existing Chase cards, if you go that route.

You have all your cards listed as To Report Zero in this schedule. You must always have at least one of the cards reporting a small balance, otherwise your score will go down again if nothing is reporting any balance. So pay down the cards, but don't go to absolute zero, and I'd suggest leaving a couple of the cards with small balances, which can be done by new charges in the new period, and paying off the entire prior statement, just in case timing is off so you always have at least one reporting something.

[TrialByFire]

Good point I didn't think about letting something report. I'll leave a little something on the cap1 cards since they don't cut til the 21st.

[Anonymous]

In analyzing your file I see several things that need correcting. Get your foundation right and what you want to accomplish will follow. 

#1 write down your accounts on a small pocket sized steno pad. Limit, balance, due date,  payments. 

#2 You only have $20,500 in lines of credit which is not enough available credit for the amount of charges you are putting on your cards.

#3 Learn to use your cards from the 1st day after the NEW statement BEGINS and STOP charging on them 4-5 days BEFORE THE DUE DATE. Pay down your monthly charges to less than 15% of your balance  NO LATER THAN 4 DAYS BEFORE THE DUE DATE. 

#4 NEVER CHARGE ON A CARD NEAR THE DUE DATE! USE ANOTHER CARD THAT IS WITHIN 2 WEEKS OF THE BEGINNING OF THE STATEMENT. 

See your problems are you are charging too much on your cards and letting it report to the bureaus. Thus horrible scores. Your scores won't get you any cli's. 

Do what I suggested above for 3 months. That should bring your utilization down between 10-15%. Never let more than $50 report to Wells Fargo. 

It may take several months for your scores to grow maybe a little longer to get over 700.

Your Am Ex problem is that they approve cli's from soft pulls that are many times 5-7 weeks old. Make sure your EX is ABOVE 700 and you WILL get your cli. 

After you change your credit management habits for a few months and get a few cli's, work in fattening uo your file so that should you need or want to carry $10,000 in balances,  you can do so and keep your utilization around 10% or less, which means you need $100,000 in credit limits. 

Once you change your credit management habits, and get your scores up,  getting some cli's and adding $80,000 in lines of credit should be no problem,  and that should keep your scores in the 700's and give you some usage breathing room.

[TrialByFire]

Brilliant analysis thank you for that! Sometimes It helps to get another set of eyes on an issue...#3 Seems to get me more often than not lol. Ideally I'd like to have 5 go to cards with 10k each and 3 to use off cycle. I guess pulling out the debit card while waiting for the cli's won't kill me.