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Keybank CLI

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Anonymous
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Keybank CLI

Alright, so about 2 weeks ago I requested a credit line increase on my Keybank Rewards. Starting limit was $3,500 and still is $3,500. This process has been a long one... Requested the increase, then I had to send in a bunch of documents to prove my identify a few days later. Then they had to send me a letter in the mail for me to sign to process the application. They refused to email or fax it to a branch.... The mail in my area is awful, always losing mail or having it stolen. So it took over a week to get it, mailed from Canton, Ohio to Columbus, OH. The envelope had the word, "Missing" on it when I got it too lol. 

 

Anyways. This letter stated that I was approved for a credit limit of $4,500 and that it would be processed once they received the signed letter back. I'm a little upset with the increase since I was hoping to get a limit of at least $5,000. Would rather have double my original limit though. I'm going to call the loan closing department Monday and see if I can get a higher limit.

 

I think I know what they are going to say.. "You don't use this card enough to have a higher limit." I charged maybe $300-500 a month the last 4ish months. I have always paid in full except for a few months back when I was in 0%. My defense to this is that its difficult to use a card that has a $3,500 limit and you have to pay it off several times in one month. Back in May-July, I charged at least 4,000 a month. I charged almost $5,000 in July. It was annoying to pay off the card several times in the month just to continue to use it.

 

Thoughts or input on my chances with a higher limit? Here's some info:

 

TransUnion: 752

Equifax: 744

Fico 8: 719

Annual Income: $66,000

Utilization: 10%

No lates or anything

 

Other cards: Limit, Age

Keybank: $3,500 (1 year 6 months)

Amex: $2,500 (1 year 1 month)

Discover: $500 (6 Months)

JcPenney: $6,500 (1 Year 1 month)

CapitalOne: $1,500 (8 Months)

Tuffy: $2,000 (2 Years 1 Month)

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: Keybank CLI

Wow, sounds like they are a chore. With the spend you were giving I expect many other lenders would value your business more.

Have you considered finding a CU or two? 

Message 2 of 15
Anonymous
Not applicable

Re: Keybank CLI

For some reason I like to avoid Credit Unions. Don't know why, but I just don't like them... lol

Message 3 of 15
Anonymous
Not applicable

Re: Keybank CLI

Was it soft pull for CLI?

Message 4 of 15
Anonymous
Not applicable

Re: Keybank CLI

Congrats on CLI !!!

 

 

Message 5 of 15
Anonymous
Not applicable

Re: Keybank CLI

It was a soft pull. 

Message 6 of 15
Anonymous
Not applicable

Re: Keybank CLI


@Anonymous wrote:

For some reason I like to avoid Credit Unions. Don't know why, but I just don't like them... lol


Really? You’re missing out on some of the most generous CLs and APRs available. 

 

Congrats on the CLI - that’s an awful lot of work though!

Message 7 of 15
19eighty5
Senior Contributor

Re: Keybank CLI

Congratulations on the CLI! Quite the process you've had to go through.

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 8 of 15
Anonymous
Not applicable

Re: Keybank CLI

Congrats on the CLI. Wow... That really seems like a lot of work for an increase with scores in the mid 700's. At least you got it after doing all that. I actually just got a Key Bank pre-approval letter in the mail yesterday and I've been thinking about applying for it. This definitely gives me something to think about a little longer.
Message 9 of 15
Anonymous
Not applicable

Re: Keybank CLI

What card was the pre-approval for? Right now they have a sweet offer going on for balance transfers if that applies to you... 0% for 15 months on balance transfer and purchases, plus there is no balance transfer fee. This is for the latitude btw.

Message 10 of 15
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