Need advice on my strategy re: CLIs, applying for new card, timing, etc.

[Anonymous]

I'll preface this by saying any and all help is appreciated and whatever info, specific bureau and/or version scores, etc. you need to better assist me let me know and I'll post it ASAP.

I have a BoA Better Balance Rewards credit card with a 0% interest rate promotion ending on 5/9 after which it appears it will go to 19-ish%.  Ideally, around that time or shortly thereafter, I'd like to open my 3rd (and final if all goes well) credit card, the Citi Simplicity Card, and use that card's 21 month 0% balance transfer rate to transfer/consolidate/pay off, etc. the debt I have on my BoA card, as well as my USAA card and USAA auto loan.

I was out of work for the last 8 months but have a good paying job now and hope to resume paying off my debt.  That said, I want to maximize my chances of getting the card, as well as getting as large a credit limit as possible.

In addition to using what funds I can to pay off the debt on my cards, I also am considering asking for CLIs on both cards to help improve my utilization.  My last inquiry is from June of last year from when I got my auto loan, and the only things showing up before that are 3 inquiries from April 21-23 of last year, when I got a CLI on my USAA card, opened my BoA card and got a CLI on the BoA card right after (approved over the phone after I was told I could get an increase right off the bat).  I've not asked for any, nor have I received any CLIs since then.

I don't know what specific versions of scores would be used for my CLIs or for the Citi card, and if you need others let me know, but for what it's worth my FICO Score 8 for each is 667 Equifax/678 Trans Union/691 Experian, though I made payments to both credit cards last week and I don't think they're showing up yet.

All of that is to ask:

-Is there any reason why I should NOT ask for CLIs for my credit cards before applying for the Citi card?

-When requesting CLIs for both USAA and BoA, I've never asked for a certain amount (just sorta asked for as much as possible kinda thing).  Is that a good thing to do?  Could asking for too much hurt my chances of getting a CLI?  How much should I ask for (CL for USAA currently 13k and BoA is 7k)?

-For the BoA CLI, is it better/worse/does it matter if I call and ask for the CLI or just use the online link?

-If getting the CLIs would help, but would mean I should wait to apply for the Citi card (because of the inquiries from the CLIs and/or because of the time it will take for the CLIs/change in utilization/etc. to show up and affect my scores), how long should I wait before applying for the Citi Card?

Again, any help would be appreciated and I'll post whatever info you need.  Thanks in advance!!

[Anonymous]

Is there any reason why I should NOT ask for CLIs for my credit cards before applying for the Citi card? Since you do not have many inquiries in the last 12 months I do not see a reason why you should not ask for CLI's - so go for it!!

-When requesting CLIs for both USAA and BoA, I've never asked for a certain amount (just sorta asked for as much as possible kinda thing).  Is that a good thing to do?  Could asking for too much hurt my chances of getting a CLI?  How much should I ask for (CL for USAA currently 13k and BoA is 7k)? I would ask for a high limit - if they can't approve it they will give you a counter offer. I would ask for $20k on the USAA and $15k on the BoA.  

-For the BoA CLI, is it better/worse/does it matter if I call and ask for the CLI or just use the online link? I don't think it matters but if you are not 100% confident about the approval - talking to someone on the phone may be  beneficial - especially if they need additional information - you can give it to them on the spot. 

-If getting the CLIs would help, but would mean I should wait to apply for the Citi card (because of the inquiries from the CLIs and/or because of the time it will take for the CLIs/change in utilization/etc. to show up and affect my scores), how long should I wait before applying for the Citi Card?  What is your utilization on these cards currently?  If it is over 30-50% then yes the CLI's would def help.  

Good luck!! I hope it all works out. 

[Anonymous]

Thanks so much for your response.  Due to employment and health issues over the last few years my utilization has fluctuated but is now about 98%, so I figured CLIs will help but I guess my main concern was how long I would need to wait after requesting CLIs before applying for the Citi card?

When you say ask for 20/15k, do you mean ask for an increase of 20k/15k or ask for the limit to be increased to 20k/15k?

Also, as I'm reading through the forums I'm seeing people recommend getting BT cards other than Citi Simplicity, including Credit Unions.  Not sure I'd be eligible for any credit unions except Apple Federal CU because of where I work now, but are there other cards that are better than Citi that have 21+ month promotions?

[VegasMom]

I don't know about other cards but I was pre-qualified for Simplicity and apped thinking I would BT. They approved me for $900. 😅 They pulled EX 763 2% UTI No baddies. I had read they give low starting lines but I wasn't expecting that.

[Anonymous]

If that's the case, I'll need to look for another BT card.  Any suggestions?

[Anonymous]

I've decided to wait until next weekend to ask for the CLIs since this week I'll be finalizing my salary at my new job.  I've been working temp with them for a few months now and while I was going to originally ballpark my salary on my CLI requests, some of the threads on this forum warning against that kind of thing have changed my mind on that.

My only question at this point is in response to what GDanzy said above - suggesting I ask for 20k for my usaa and 15k on my BoA card.  Does that mean asking for increases of those amounts (bringing my total CLs to 33k and 22k respectively), or does that mean asking for increases of 7k/8k so that my total CLs are 20k/15k?  Also just for more info/opinions, does anyone else have experience asking those/any amounts from USAA and/or BoA?  Are those what I should be asking for?

Again thanks for any help anyone provides!

[Anonymous]

UPDATE:  I finally requested my CLIs.  USAA approved 2k only and BoA denied it entirely.  It's a good thing I got something, because after two months of promising me a job, the company I was working for went back on their promise, and now I have bigger problems than getting my finances in order to worry about.

Question:  I think I read somewhere in the forums about appealing a cli decision.  Anyone have any experience/advice on that?  I was thinking on appealing the BoA decision.  Any thoughts welcome!

[RonM21]

You certainly can recon a CLI decision by calling in and asking. Maybe give them the reasons why you think you qualify. Worst that can happen is they still say no.