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How soon is too soon to ask for CLI?

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redE2move
Frequent Contributor

How soon is too soon to ask for CLI?

I'm in a decent place right now (compared to 6 months ago) after all of the rebuilding techniques I've used.  My current FICO 8 scores are EQ 645, TU 703 and 648 EX.  It seems I've hit a plateau at this point as far as my scores going higher.  Looks like my options in growing these scores are "TIME" (months of on-time payments)  OR, increasing my credit limits.  Right now I'm approaching my 5th statement for Cap1 secured ($300 CL), 3rd statement for Amazon store card ($500 CL), 3rd statement for Walmart store card ($150 CL) and 4th statement for Old Navy ($200 CL).  

 

I think it may be too soon to request CLI on these cards.  Can anyone share any similar experiences on this topic?  

 

Message 1 of 10
9 REPLIES 9
washpadude
Regular Contributor

Re: How soon is too soon to ask for CLI?

All of your accounts are soft pulls for credit line increases. There is literally nothing to lose, request an increase and see what happens. Cap1 is usually good for an increase after the third statement. The others vary, but with your credit scores you have a good shot.

BK CH7 Discharged 03/2015
FICO8 EQ-657 TU-657 EX-665
Revolving credit lines 125k.
Message 2 of 10
redE2move
Frequent Contributor

Re: How soon is too soon to ask for CLI?

Well decided to go with the Walmart card.  Success $150>$1000 (didn't want to get carried away).  Old Navy gave me the 7-10 day response.  I'm gonna wait another 2 weeks to see if I get an automatic CLI for Cap 1.  I figured by then the new CL on Walmart will show and hopefully increase my EQ & EX scores.  Fingers crossed.  Trying to get my scores up because my car may be giving out on me soon Smiley Sad

 

Message 3 of 10
washpadude
Regular Contributor

Re: How soon is too soon to ask for CLI?

Congrats on the Walmart. It took me nine months to get an increase, but it went to 3500 and I'm good with that.

Cap One's Auto Navigator is a good place to start for a solid soft pull prequal. You can even put in information for various models and they will let you know what the APR and payments would br if you pick that car. They give 30 days to shop with the prequal.
BK CH7 Discharged 03/2015
FICO8 EQ-657 TU-657 EX-665
Revolving credit lines 125k.
Message 4 of 10
Aduke1122
Senior Contributor

Re: How soon is too soon to ask for CLI?

My fiancé got his Cap One CLI after the 5th statement cut for this secured card , it was a 300 dollar increase. It showed up the next day after his 5th statement closed .
Message 5 of 10
redE2move
Frequent Contributor

Re: How soon is too soon to ask for CLI?

That sounds promising Aduke! I wonder if the amount of increase is determined by your credit scores at the time of increase. I'd like to move on from the Cap 1 secured all together and hope to qualify for a unsecured credit card.
Message 6 of 10
redE2move
Frequent Contributor

Re: How soon is too soon to ask for CLI?

Thanks Wash! I think I may go the credit union route for a car loan. I really want the lowest finance rate I can possibly get. I was hoping to get in to SECU but I don't know anyone affiliated with that credit union and I haven't seen a backdoor option to sign up.
Message 7 of 10
washpadude
Regular Contributor

Re: How soon is too soon to ask for CLI?

Cap One was good to me all around. 9 months post BK they gave me 19k on a used car at 4% for 72 months. A few weeks later QS card 5k, two months later Venture 15k.
BK CH7 Discharged 03/2015
FICO8 EQ-657 TU-657 EX-665
Revolving credit lines 125k.
Message 8 of 10
redE2move
Frequent Contributor

Re: How soon is too soon to ask for CLI?

Wow that's a pretty good interest rate! I've only been a Cap 1 card holder since June and that's secured.
Message 9 of 10
Aduke1122
Senior Contributor

Re: How soon is too soon to ask for CLI?

I hate it but when you have a secured card it's the same increase for everyone , no matter scoring , what my fiancé done when we got his CLI on the secured , he then apped for an unsecured and got approved for that .
Message 10 of 10
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