@Ravensfan899 wrote:
@Ravensfan899 wrote:
This morning I submitted a CLI on my quicksilver and Wal-Mart cards. On the quicksilver I got the message stating we will let you know our decision in 2-3 days. I'm convinced I'll never get an increase on that card. On the Wal-Mart card on the other hand it offered me an instant increase of $3,000!
Update. They declined my increase on the quicksilver. The reasoning was insufficient income. How does that make sense 🤔 I guess that card is forever in the bucket.
They're required to give a reason, and there's a list of standard reasons, so they pick one, even if it's not a particularly good fit. That's probably even more true in this age of machine learning, because one of the traits of deep learning is it's very hard to explain why the algorithms work. You may really be rejected for a complex set of factors that are hard to explain, but they're just giving you a stock answer. So don't worry too much about the reasons. I got an insufficient recent use of my credit line rejection after 6 months where my spend averaged about 2/3rds of my CL, which doesn't seem to make any sense either.
But that doesn't necessarily mean you'll be in the bucket forever. I got that rejection letter the day after Christmas, and on New Year's Eve, they spontaneously increased my CL from $300 to $3,300.
