So i was declined for a CLI on my credit one credit card account. I've had this card for over a year always carried a balance always paid on time.
I applied for a credit line increase 4-5 months ago and the reason was too high on the cl and i only paid min payments. So I paid it way down, used the card more and instead of 25/mo i started sending 50/mo i tried again. Now the reason is too many inqs.
So i totally understand im a 580-620 score and that im not the most favoriable but since i started rebuilding in 2018 i havent missed a single payment on any credit card or loan product ive had and during a pandemic you want to decline me over inqs? H*** yeah i have inqs. I have 3 unsecured credit cards with under 1,000 per card limits lol. Do you know what 300 dollars gets you at a store?
Anyway. Recently i got a DCU approval for 1,500 so i used it as ammo. I call up and complain about my decline reason, is there a manual review etc etc she puts me on hold and says sorry there isnt anything i can do for you. I said well i think im done here and she cuts me off and starts her well thank you for calling... I said no i think im done with this card. I've recieved more favorable cards from other banks now including my credit union with a 4 figure credit limit. If you can't get my limit raised i'd like to close the card now.
She puts me on hold and comes back in 5 minutes and says "Sir if you don't close the card i can give you a 100 dollar CLI." You know i was so excited i got my first cli since i started rebuilding my credit i didnt even ask for more i just said ok and took it. So now my card went from a 300 CL to a 400 CL. I feel dumb lol.
If you are young and are reading this don't be stupid with your credit. Do let sh*t go to collections. Don't say "oh i can pay that later" I'm 32, i live with my inlaws and i cant qualify for a mortgage. The one thing you can control in your life is your credit. Make it stellar.
-Tom
lol
