Limit increase denial

[mrshulkisloislane]

Need help figuring what i'm doing wrong when it comes to increasing my credit limits.  It seems only Target likes me!  They have increased my limit 3 times over the past 2 years and yet my limit with them is still only $1500.  My scores hover between 690's-720's depending on util for the month. I have 2 personal loans one at about 50% paid the other only about 1% paid.(newest one is a consumer finance loan)  I didn't know about the negative effects of that until later.  Aaoa is about 2 years.   My dti is about 29%. right now.  (has been higher has been lower.  same results.)  I don't have any baddies.  I haven't missed any payments.  I've tried AZEO.  I've tried leaving 9% util.  I've tried paying all down to 0.  I have 7-11 inq. on all 3.  Literally 6 of them on Trans. are from Nfcu, 5 on Eq. from Nfcu and 3 on Ex. are Nfcu!  I have periodically requested cli on all of my cards except Target.  I always get rejected.  Reasons given have been: No real estate info reported, limited experience at current limit, high revolving utilization, score too low,  too many consumer finance accounts, and my all time favorite is the Nfcu doesn't meet their internal scoring qualifications!  last time I was given my internal score with them it was around 350.  My highest limit card is CareCredit @$2900.  My limits range from $300-$2900.  I know there's no magic recipe, but I feel like I've tried them all and none work in my case.  I'm afraid to app new cards because my gut feeling is if they won't approve even a small cli, def won't approve a new card. Don't want to increase my decreasing inq. list.  Also don't want to lower my already low Aaoa!  I know Nfcu is the holy grail for most but they hate me.  Like literally.  What can I do to improve my cli odds?

[Anonymous]

It sounds quite frustrating -- sorry.

Surely better CLs can be gotten with your profile. Maybe start by listing what cards/CLs you have now & when these cards were acquired and then add what income you are reporting? Those seem to be the missing pieces to the puzzle. 

[mrshulkisloislane]

@Anonymous 

Maybe start by listing what cards/CLs you have now & when these cards were acquired and then add what income you are reporting?

PayPal MC $300 08/2018

PayPal line of credit $2666 08/2018

Walmart $380 03/2018

Nfcu GoRewards $2500 08/2018

CareCredit $2900 06/2018

Belk $880 03/2018

Target $1500 03/2018

Ashley Stewart $300 11/2017

Cap. 1 Plat. $700 10/2017

Amex BCE $1000 10/2018

Discover $2000 11/2017

Reporting approx. $36k/yr income right now.  Work limited due to Covid-19.  normally about $55/yr.

Thanks for responding!

[Anonymous]

@mrshulkisloislane 

I know it's frustrating but I'm curious about your experience at Navy. If you can't get a CLI on the GoRewards have you applied for a 2nd card with them? There is a ton of info about second cards being far easier to get than CLI's for many profiles. As far as the TU HP for the second card, it seems like the extra HP might be worth the risk if you end up with a nice SL. If it were me, I would go for card number 2 and take the HP hit. The longer you have the GoRewards and build history the more your internal score increases. Since you've had it for almost two years and I assume the card has been in good standing, you might be pleasantly surprised.

[Anonymous]

Not knowing which cards have gotten a CLI or which (other than Navy) have been denied, and when, my 1st thought is to proceed as if none have been requested, or denied, except for Navy as mentioned in OP. 

SP asks cost nothing, so don't be bashful. Discover, Cap1, Amex, are all SP. When did you last ask each? Commenity & Synchrony cards are also typically SP, so check out the HP/SP thread and then if the coast is clear, ask. 

I am baffled you're having ssues with Navy. Do you have a bankruptcy in your past? Did your card start as secured and recently graduate? Your internal score of 350 is good enough to get more credit products. When did you last ask for a 2nd card? Anything different now vs then?

[mrshulkisloislane]

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@Anonymous wrote:

Not knowing which cards have gotten a CLI or which (other than Navy) have been denied, and when, my 1st thought is to proceed as if none have been requested, or denied, except for Navy as mentioned in OP.  

Target started  $300 increased to $1500 over 2 yrs.

Cap. 1 was secured $300 partially unsecured and cli to $700 after 5 mos.  

Disc. was secured $700 unsecured and cli to $2000 after 10 mos.

Nfcu started @ $500 auto cli after 8 mos to $2500.  

all others still at starting limits. 

SP asks cost nothing, so don't be bashful. Discover, Cap1, Amex, are all SP. When did you last ask each? Commenity & Synchrony cards are also typically SP, so check out the HP/SP thread and then if the coast is clear, ask.  

Last req. Disc., Walmart on 03/30/20 reason given was credit score too low report date for Walmart was Feb. and Disc. hard pulled me on TU score was 696.

Last req. Nfcu yesterday denied haven't received letter yet however rep said she couldn't give deets but I didn't meet their int. criteria

Amex, Commenity and Synchrony last Fri 05/22/20 rec. 7-10 day message.

I am baffled you're having ssues with Navy. Do you have a bankruptcy in your past? Did your card start as secured and recently graduate? Your internal score of 350 is good enough to get more credit products. When did you last ask for a 2nd card? Anything different now vs then?

No BK.  Card didn't start secured.  I did a 6 mo. ssl with them.  paid it down to 9% initially and then paid off within the 6 mos.  Requested 2nd card more than a year ago not exactly sure of date but was denied.  Around 10/2019 requested unsecured personal loan, cloc and limit increase on GoRewards denied all three!  I normally work 2 jobs.  Have dd of 2nd job at Nfcu.  Have checking, savings and 1 cd with them.  CD was just opened last month.  Don't really use savings.  Occasionally use checking.  Had automatic draft of a payment coming out of this account,  twice it overdrafted and Nfcu paid it using OOPS.  I transferred funds over to cover both times to avoid $20 fee.

(Requested same loan at different c/u and was approved)

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[Anonymous]

If you don't have any baddies then why was your score in the 400s on 10/2017?  Did you get these removed?  BK?  Something in your profile is holding you back.

[Anonymous]

@mrshulkisloislane 

Also, can you tell us where you are pulling your scores from and what is NFCU showing for a credit score when you log in?

[mrshulkisloislane]

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@Anonymous wrote:

If you don't have any baddies then why was your score in the 400s on 10/2017?  Did you get these removed?  BK?  Something in your profile is holding you back.

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I didn't say I've never had baddies.  I said I don't have any now.   I didn't have any at the time I have sought cli's.  I replied earlier that I do not ans have not had a BK.  In 2017 when I began my credit re build I was a stay at home mom with no active tradelines on my credit.  Everything was in my spouse's name!  The only things I did have were old medical collection accounts.   I was happy to get credit let alone ask for limit increases at that point.

[RSX]

aside from the questions above to be answered, i also think you have a spread of cards that your income will not allow you to put much spend on each of them - this is needed for some cards to grow

so i would suggest some closures - get focused on the ones you want to keep, and drop the others

this is my idea - but if they are the wrong ones for you, feel free to mix it up

i would close and keep the following

PayPal MC $300 08/2018 - CLOSE in Aug 2020

PayPal line of credit $2666 08/2018 - KEEP

Walmart $380 03/2018 - CLOSE now

Nfcu GoRewards $2500 08/2018 - KEEP

CareCredit $2900 06/2018 - KEEP

Belk $880 03/2018 - CLOSE now

Target $1500 03/2018 - KEEP

Ashley Stewart $300 11/2017 - CLOSE now

Cap. 1 Plat. $700 10/2017 - see if you can PC to a Quiksilver, if not keep, but try to put all your spend on it for 3-6 months, then SP CLI

Amex BCE $1000 10/2018 - KEEP

Discover $2000 11/2017 - KEEP