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The CLI Itch: Does it ever end?

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Anonymous
Not applicable

Re: The CLI Itch: Does it ever end?

Good call on visiting the forum less.  I spend the majority of my time on this forum in sections that aren't related to CLIs, such as the FICO scoring area.  Being around it though I'm sure does have some sort of impact on me continuing to pursue CLIs.  I do feel I'm pretty close to being "done" however.  At most I'm a 20%-25% increase away on a couple of cards from being at my "goal limit" that I set from the start on those cards, which isn't all too much and I would think will be accomplished by year end.

Message 11 of 33
Anonymous
Not applicable

Re: The CLI Itch: Does it ever end?

I used not worry so much about limits and cli . DW limits per card run around 10K to 15K per card. Mine only 3K  to 7K.  We almost always pay in full. Then this  year 1) first storm damge not covered by insurance 2) second storm  storm damage  not covered by insusrance 3) then dw car repair  The repair bill itself is only about $500 but she has had to get a rental now for 3 months and now 4) on one of our biz contracts the prime (we are the sub) has been slowing paying us over 15K in pass through costs that are now 90 days late. This has pushed dw % util  to 9% and mine to 20% utilz.  This makes me want cli just for protection and padding. I plan to ask Citi Dc for higher limit as it hits 6 months in 3 weeks. I think in 45 days I will be back to 1% utilz. 

Message 12 of 33
joltdude
Senior Contributor

Re: The CLI Itch: Does it ever end?

I kinda subscribe to the goailpost analogy with the end game being a touchdown...

That said.. I still have a goal of my prime cards being at least 5k.. and now the 16300 i want to get to 18k. then full stop. It gives me enough of a buffer...  Yes i am really annoyed with accounts that are like 5200 4300 and such.. my goal is still the 5k goalpost.  But im done.. it didnt take me many pulls and i have what i need mostly... I do want rewards for stuff not covered elsewhere but theres no rush.. 

 

The desire for a CLI has slowed down.. just inches away from the peak...

 

-J

 

Message 13 of 33
AverageJoesCredit
Legendary Contributor

Re: The CLI Itch: Does it ever end?

I think ive accomplished quite alot considering my income. Cli hunting can be fun but i find myself looking to really get my bank cards to a nice enough level that i can start scaling back. I kinda like the mantra of having an Amex Disco Viss and Mc. Throw in a store card that can be of great use and i think i can find Valhala. I appreciate Navy for giving me that chance and hopefully can crack 10k. Now if i did that and could get Penfed to match that id drop 4 or 5 cards stat even if it meant losing cl.
Message 14 of 33
Anonymous
Not applicable

Re: The CLI Itch: Does it ever end?

It's more important to crack 5000 and 10,000 marks then it is to crack a 30,000 mark. If you can score a 30000 limit you can qualify for any number of cards with awesome Rewards and reap on Extreme levels.

That being said most people that sign up for these forums and read, and/or ask advice are trying to help their situation, not just get on and brag that they never did anything wrong with a boasting signature, full of visa sigs. If you've never done anything wrong of course you don't need to worry about inching your limits up every month or so with padding.
The endgame is to have a credit portfolio that looks like nothing ever happened in the first place…
Message 15 of 33
Meanmchine
Super Contributor

Re: The CLI Itch: Does it ever end?

@BBS  " I guess I like the thrill of it and that sense of accomplishment when I get one."

 

 

HELL YES !!

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>8/2024 All 3 reports 835ish (F8) F9s = 850 but my app finger is still twitching
Message 16 of 33
Anonymous
Not applicable

Re: The CLI Itch: Does it ever end?

I didn't have any credit cards in January with my 520 FICO 8 scores. and I have already have gotten to the stage where I think applying for CLIs are pointless.  I am only worried about getting rewards cards now with sign up bonuses .  CLI dont' do anything for me as I got plenty of credit lines.

 

Once my NFCU was raised to 22k and wife got a new card and added me as an authorized with 27k limit I am well over 100k.  I don't see the point to trying to get nickle and dime Credit limit increases.  I figure in two months all my reports should be over 720 and then the fun of applying will be over as well I will already know I will be approved.  

 

Getting Credit Line increases is fun when it improves your score but with a less than 5 percent utilization there is really no reward to getting the CLI.  Getting 550 dollar sign-up bonus or getting 60,000 point sign up bonus from Southwest is where the action iis these days. 

 

 

 

 

 

 

Message 17 of 33
pipeguy
Senior Contributor

Re: The CLI Itch: Does it ever end?

For me? yeah I'm pretty bored with it due to getting all but 2 of my cards into 5 figure range. I'm sure I'll punch the button another time or two on my BoA cards just because they seem to go really high, but frankly anything over $20k is all ego for me and I've already exceded that on a handful of cards. I'm actually looking to close a bunch of cards over the next year or two before I retire.  

 

Right now my goal is to make "Senior Contributor" before my 6 year date on these forums (in October this year) - after that my life is "complete" Smiley Wink

Message 18 of 33
Anonymous
Not applicable

Re: The CLI Itch: Does it ever end?

What exactly constitues a Senior Contributor?  lol

 

Backwoods, definitely let me know how that Citi DC CLI works out for you.  What is your current limit (is that your SL or have you already received a CLI?) and what are you anticipating CLI-wise?  My DC is the only sub-5 figure limit I have that I'd like to reach $10k, so any datapoints I can find on the subject are of great use.

Message 19 of 33
austinguy907
Valued Contributor

Re: The CLI Itch: Does it ever end?

I'll try to keep this short but no promises!

 

When you're starting out or recovering from a BK your goal is to get into a couple of places to get the ball rolling again and hitting a 650 or higher and aiming for a $5K limit somewhere.  Some of us stumbled and tripped over our own feet trying to figure out how to get there taking the long road of apping and churning until we hit that magic formula.

 

If by chance we ended up on here eventually and started reading we could put the science into the magic sauce and get there quicker w/ less stumbles.  However some find this place and find out about the SCT that satiates that app urge without the HP traumatic experience we feel when building our fresh/damaged profiles.  

 

So, we eventually hit that 5K/650 combo and we think we're stellar again and go on an app spree and get the door slammed in our face about 50% of the time.  We study up some more and wait a few months and do it again.  

 

Fast forward a year or two and we're settling down a bit into a more controlled manner of managing and getting addtional credit.  Scores are hovering around 700 and limits between 5-10K.  We start thinking more about cards that have been out of reach up until now and since we've had our hands slapped on the HP's in the past we look for cards like Synch / Comenity / Disco / AMEX that offer SP's all of the time.  Of course we get bold and hit up AMEX / Disco and sometimes get in and usually just get denied if there's a stale BK on our reports so we go shooting fish in a barrel and pick up some cheap plastic from S/C.  We max the limits on those because we figure out they're not going to HP and we can go up to 25-35K w/o providing a 4506.

 

So, we've got our golden CL's with sorted industry providers but, hey our reports show 25K limits on a couple of accounts.  We finally hit the profile that the big boys are looking for because we figuered out how to get that stimulus from SP CLI's and stopped apping in the meantime to get our inq's down low enough to be considered for 2-3 cards on an app spree of 5-7 potential candidates.

 

So, we ask around here and read up again on our prey trying to figure out who and which order we need to HP on to get our foot in the door.  We get into 2-3 of them and chalk it up to a win and set some reminders to hit that button.

 

 

So, after many years of ramping up from the FP/Cr1 and so on predatory lenders to mediocre lenders like synch/com/crap1 we're several years into it and finally breaking the ceiling we've been held under into chase/boa/amex/disco/WF/etc.  We finally get those 5 digit SL approvals.  Things have slowed down and we've churned a few cards enough to know some of the nuances of the processes to max CL's and reduce card counts.  We're still leery about some lenders and if they'll AA us somehow for doing something like adding a card to the collection or see us closing another card for some reason.  

 

So, 3-5-7 years into the process we're focusing on habits we've build through the process of building/recovering.  There's this engrained notion that we have to keep betterig ourselves in the credit realm because we don't want to be at the bottom of the pile where we started out.  Once we hit the 5-7-10 or more years it's just a habit we've trained ourselves to get into.  Eventually we figure out how to get what we want and when we want it.  We hit those benchmarks of 5/10/15/20/25/30/40/50K or more.  

Then there's that whole 50K+ territory or the mythical 100K/200K/500K/1M TCL we see some around here sporting.  To think back to when we were stuck with that crappy little $300 or less even card we started out with at the begining.  Reflecting back on that makes some pause and think about it.....   Then there's the few of us that say to hell with that and keep aiming for 300K combined limits Smiley Happy

 

Personally it's more about gathering DP's to help others if I can possbly help someone out in their pursuit of coming up with a rock solid portfolio and some ideas on how to get there then it's all worth it.  For instance DP's collected on my own experience for the first year with Disco shed some light on the card that not many would consider to be a high roller.  Pushing it from the measily $4500 to a massive $48K limit in just over a year.  Putting together some tracking info on how to get the CLI process rolling and comparing different profiles ranging from scores, spend, payments, etc.

 

With the time and experience I've had over the years with very little info posted I can usually eyeball someones profile pretty well with some good accuracy.  Being able to read between the lines and fill the gaps proves helpful to some.  Anyway I digress now since this has turned into a bit of a ramble at this point.  I think I'm close to not pushing the CLI's any longer though the temptation will be there every once in awhile to do so.  I have dumped some of the easier SP lenders this week and picked up 2 of the HP lenders between Chase and BOA.  I also breached the 250K threshold and trimmed 3 accounts in the process to have a net account # gain of 0 with the replacements.

 

Summary:

Once you get to the milestone you need to be at and aren't worried about a decline on a purchase / dining out / emergency spend.... then you tend to not focus as much on the CLI because you're comfortable with your limit.  

 

For the addicted.... well, that's going to be more of a challenge and you should probably let someone change your MF password and not give it to you Smiley Tongue

Message 20 of 33
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