PayPal SmartConnect CLI

[Croselx]

Hey there, I have a PayPal SC that is due for an increase today (4th statement cut after last increased). I have applied for several cards and got approved for all of them, 2 are yet to report their balances (1.7k total CL) I have a walmart discover that has a balance of 300 (30% util on said card, but reporting 60% until the 12th of december when the balance updates), all other cards are at $0 and overall util is about 6% without adding the new TLs. The inquiries are 5-6 weeks old. I have doubts on whether I should go for the CLI now or wait until the 12th so that the new balance posts.

My FICO was 706 on November 6th after all the HPs, but before I began using the WMD card. If I go for the CLI and get denied, can I request the CLI again next week after the report updates? Does GE view carrying a balance as a bad thing? (offer was 18 months at 0% interest they were mailing to everyone).

[TNTransplant]

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@Croselx wrote:

Hey there, I have a PayPal SC that is due for an increase today (4th statement cut after last increased). I have applied for several cards and got approved for all of them, 2 are yet to report their balances (1.7k total CL) I have a walmart discover that has a balance of 300 (30% util on said card, but reporting 60% until the 12th of december when the balance updates), all other cards are at $0 and overall util is about 6% without adding the new TLs. The inquiries are 5-6 weeks old. I have doubts on whether I should go for the CLI now or wait until the 12th so that the new balance posts.

My FICO was 706 on November 6th after all the HPs, but before I began using the WMD card. If I go for the CLI and get denied, can I request the CLI again next week after the report updates? Does GE view carrying a balance as a bad thing? (offer was 18 months at 0% interest they were mailing to everyone).

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Your CLI request will be based on their most recent SP, so it doesn't matter if you go ahead and request it.  They don't do another SP at the time of your request, as the SP they already have on file is used.

ETA: (sorry, didn't see the second part of your question)

If you get declined, I would call GE Underwriting and talk to them.  It's still a based on a SP for them to consider your CLI, but the odds are much better that you'll be approved and with a higher CLI than you would have received through the automated system.

GE Underwriting: 1-877-379-4936

[Croselx]

I went ahead and did it (reported 60% util on WM discover) I initially wanted $1K to bring most of my cards over $1K, but asked for $2K. System said I was eligible (!), I declined and called again and asked for $3.5K, but was declined and countered with $2850. This is now my highest card, followed by $2.5K Sears. I wonder if they look at your highest limit and try to match that. For the record, this card started with $300 1.5 years ago and I began requesting CLIs as soon as I found out how on August this year (at first only asked for a $500 increase because I chickened out).

[TNTransplant]

Oops, I was too slow.  While I was editing my post to add the # to GE Underwriting, you got it done.

Congrats on the CLI!   

[Croselx]

Thanks for the information, it is good to know that they don't SP you on the spot. Also, I didn't call that number, I called the automated number 1-866-571-3012 (pain in the rear for the first 2 minutes because it asks for account # and then proceeds to tell you account info without you being able to cancel it, then you get options to request a CSR, a CLI, or other services).

** I verified last time I got a CLI and it was on Aug 18th, statements cut on sept 5th, oct 5th, nov 5th and today so didn't had to wait 4 months, just 4 statement cuts.

[Epcot]

Nice increase, congrats!

[Croselx]

Update: today received the letter with information of approval and why the amount wasn't higher than $2850.

The report they pulled was from Oct 18 and seems to be a TU FICO as it scores me a 701/850

Reasons:
Length of times accounts have been established (AAoA was around 2.5 years, but only 3 accounts total)

Proportion of loan balances to loan amounts is too high (loan posts as 924/1000 when it should be 300/1000 ** good to know that loan balances actually affect you like util on CCs)

Level of delinquency on accounts (1 30 day late aged 1 year and 5 months at time of report)

No recent bank/national revolving balances (not sure what this is, unless it means major bank CCs?)

Number of inquiries was a factor in determining score (inquiries were 2 at the time of report)

Wonder if they would increase me to $5K in April or if they will deny me until AAoA increases, loan balance decrease (or report accurate info) and inquiries fall off.

[slarano]

Thanks, called the automated line and got a $2,500 increase. It's probably been over a year since I've received any kind of automated increase from them, so two minutes on the phone for the increase was well worth it. Requested $5K total, they countered with $4,600. Works for me.

[nash2vic]

Thank you very much My CL was $3200 and now I have $5000. Nice that is the second biggest CL