Couple approvals and one question

jrrsmith18 · ‎10-15-2019

Paid down a significant amount of credit card debt so I thought what the heck. Went and applied for 3 cards: CSP, 2nd Discover IT, and the Huntington Voice. Got approved on all three with Chase being the most generous. Got 10.1k on the CSP, I had a Marriott card with no balance and a 10.5k limit so I moved that over to the new CSP making it 20.1k. Discover gave me 3k, kind of low but game plan it to pay off my first IT card by the end of the year and move it's 12k limit to the new IT card. Still suprised me with 70% UTIL on my first one lol. Kind of falls together pretty good since I won't be able to pay off the first IT card for at least another 4 months. And Huntington at 1.1k.....

Question is... those with the Huntington Voice, how are they with CLIs? I'm glad I'm at least in with Huntington but still looking to grow this card fast to match some of my other cards

gdale6 · ‎10-15-2019

@jrrsmith18 wrote:
Paid down a significant amount of credit card debt so I thought what the heck. Went and applied for 3 cards: CSP, 2nd Discover IT, and the Huntington Voice. Got approved on all three with Chase being the most generous. Got 10.1k on the CSP, I had a Marriott card with no balance and a 10.5k limit so I moved that over to the new CSP making it 20.1k. Discover gave me 3k, kind of low but game plan it to pay off my first IT card by the end of the year and move it's 12k limit to the new IT card. Still suprised me with 70% UTIL on my first one lol. Kind of falls together pretty good since I won't be able to pay off the first IT card for at least another 4 months. And Huntington at 1.1k.....

Question is... those with the Huntington Voice, how are they with CLIs? I'm glad I'm at least in with Huntington but still looking to grow this card fast to match some of my other cards

All great cards, grats

Have the voice, got one auto CLI in the first year then took it down myself a few months ago to less than the original approval. Asking for CLI can be done once every 6 months and if you request CLD you cannot ask for CLI for 6 months too. They like some usage, I never exceeded 10% of the CL and carried a balance for a few months on their 0% offer for a year when I got it then have paid if off before it reports every month I have used it.

Anonymous · ‎10-15-2019

I’m still a noob here, so I apologize in advance, but I do have a couple questions.. OP: Why would you transfer the limit to the new card, and not vice versa? Wouldn’t that close your older account, thus hurting your AAoA? My next one is.. I see a lot of people saying they requested a limit DEcrease. Why is that? That one totally baffles me.

randomguy1 · ‎10-15-2019

Tres grats!

Anonymous · ‎10-15-2019

@Anonymous wrote:
I’m still a noob here, so I apologize in advance, but I do have a couple questions.. OP: Why would you transfer the limit to the new card, and not vice versa? Wouldn’t that close your older account, thus hurting your AAoA? My next one is.. I see a lot of people saying they requested a limit DEcrease. Why is that? That one totally baffles me.

Sometimes when you're not scratching for every point you can get you do funny things.

Shuffling from old to new could be a couple of issues like high APR, stuck / bucketed CL, just not using it much anymore, or just simply got it to expand the CL on a new card when it came along.

Decreases... I SMH when I see those as welll.... .There's a superstition that it helps grow CL's elsewhere or opens up doors to additional products.... IME though... if they need some CL from one card to open a new one... the bank just moves it accordingly.

These are what we call FWP's and people w/ too much credit tend to do them in contrary to building paths... Restructuring is something that comes along after you've gotten too good at credit and decide to make changes instead of pushing for that 850 or 50K CL any longer.

Anonymous · ‎10-15-2019

Ah okay I see. Thankyou! I guess another reason, although probably not with an IT card, but a huge annual fee could possibly be another reason to dump an old card. As for me.. I’m a scratcher, LOL. Probably always will be. 😅

jrrsmith18 · ‎10-15-2019

From what I understand is that the closed card will still report its AAoA for 10 years. I closed/closing out the older cards so the newer cards can grow their own AAoA.

Anonymous · ‎10-15-2019

@jrrsmith18 wrote:
From what I understand is that the closed card will still report its AAoA for 10 years. I closed/closing out the older cards so the newer cards can grow their own AAoA.

yeah, the only real costs is any buffer the CL padded your UTIL while open.

HX stays for 10 years and doesn't hurt much from the age aspect.