@Anonymous wrote:
@SoCalGardener wrote:Use the card, let it report a balance, then pay the bill in full (if that's what you want to do). It's routine usage like this that will get those CLIs rolling. My utilization percentage almost never goes into double digits, and I have no problems getting CLIs, both auto- and self-initiated.
That's just it. Usually, I don't HAVE many expenses. A few hundred a month. Unless I split usage into really small amounts... I feel like that isn't a great idea either.
You're kinda stuck then, sorry. Best you can do is put those few expenses on whatever card you're trying to grow, but at a few hundred a month, it'll grow extremely slowly, if at all, to be honest.
@Anonymous wrote:I have outstanding credit. I'm in a really good place financially. I have no need for a cli. Should I request one anyway? Also, how much is "a lot?" I see this
I'm 31, with an average credit line of 6000. My usage is < 1%. My credit score is > 800.
I believe what's in the pic is average total credit limit.
@Duriel wrote:
@Anonymous wrote:I have outstanding credit. I'm in a really good place financially. I have no need for a cli. Should I request one anyway? Also, how much is "a lot?" I see this
I'm 31, with an average credit line of 6000. My usage is < 1%. My credit score is > 800.I believe what's in the pic is average total credit limit.
I don't think so. I think it's just what it says: average credit limit.
@Anonymous wrote:
@SoCalGardener wrote:Use the card, let it report a balance, then pay the bill in full (if that's what you want to do). It's routine usage like this that will get those CLIs rolling. My utilization percentage almost never goes into double digits, and I have no problems getting CLIs, both auto- and self-initiated.
That's just it. Usually, I don't HAVE many expenses. A few hundred a month. Unless I split usage into really small amounts... I feel like that isn't a great idea either.
Then, as @OmarGB9 said, you're basically stuck. It would be best to hone in on using one card for all your expenses--groceries, gas, shopping, any utility-type bills, eating out, just usual day-to-day stuff--until you establish a solid usage history, then move on to a different card. And, to get back to your OP, as long as there's no hard pull involved, it won't hurt anything to ask for a CLI. But--if I were you--I'd give it a little more time.
@NoMoreE46 wrote:
@OmarGB9 wrote:I don't think so. I think it's just what it says: average credit limit.
The verbiage is not clear but figures are for Total credit limit (on average) like @Duriel noted.
It is not per Credit Card limit.
From Experian:
Thanks. I knew I saw it somewhere but work and life have been giving me a bit of mental fog.
@NoMoreE46 wrote:
@OmarGB9 wrote:I don't think so. I think it's just what it says: average credit limit.
The verbiage is not clear but figures are for Total credit limit (on average) like @Duriel noted.
It is not per Credit Card limit.
From Experian:
Plus that data appears to be >3 years old (per the *Source footnote). Data could have fluctuated since then (i.e. post-pandemic).
@FinStar wrote::Plus that data appears to be >3 years old (per the *Source footnote). Data could have fluctuated since then (i.e. post-pandemic).
Here is CNBC's latest, says updated Jan 2022. Doesn't break down by generation though.
@Anonymous wrote:
@NoMoreE46 wrote:If you care to share which cards you hold, their age and usage- we could be more helpful in your quest.
Sure! I have An Amazon prime card, age ~3 years, usage a few hundred a month, limit 8000. Capital One, age ~12 years, usage a few hundred a month, limit 11000. A Bank of America, age ~7 years, never use, limit 4500
On the Amazon Prime a CLI request would be a hard pull. So no, I'd leave that one alone.
Since your spend is so low and your utilization is already so low, I don't see any need to apply for a CLI, especially on a card you never use.
@Anonymous wrote:Ok. Yeah. I'm happy where I am, just I worry if I find myself in a pickle and don't have enough borrowing power. Thanks for your insight!
Those cards don't represent borrowing power, because their interest rates are too high. They're good for only one thing, making purchases, getting rewards, and paying in full.
If you want borrowing power, join a credit union and get a personal line of credit and/or a non rewards platinum card with low interest and no cash advance or balance transfer fees.