Schols First is a California CU account that I have had for about 5 years now. I don't ask for a CLI because it is a hard pull EX. A good credit union, but nothing special.
I was holding out asking this year as I wanted another CLI from U.S. Bank. After I applied to U.S Bank for the CLI I figure why the heck not and burn another EX HP for Schools Fist. I was quite sure I would get something over my $13,500.00 current limit I just was not sure what.
When you apply they ask you how much. I forgot and I took this to mean how much of a total credit line. I put in $25k wanting that to be my new limit. They alwaly take a few days to review the request and so a few days later I get an email stating that they can't give me a 25k increase but they can give me 16.5k taking it up to a 30k credit line and that they would send me a letter stating why the 25k was too much.
Although happy and thankful for the increase, I really wanted to know why I wasn't approved for the 25k.
The letter states that I did not receive the increase because I "did not have a sufficient number of accounts with a similar credit line" (apple wasn't reporting yet with 38k).
So if anyone has Schools First as their credit union and is in good standing, they appear to look at your existing credit lines and will give you a similar credit line based upon what you already have reporting.
@fm92555 wrote:Schols First is a California CU account that I have had for about 5 years now. I don't ask for a CLI because it is a hard pull EX. A good credit union, but nothing special.
I was holding out asking this year as I wanted another CLI from U.S. Bank. After I applied to U.S Bank for the CLI I figure why the heck not and burn another EX HP for Schools Fist. I was quite sure I would get something over my $13,500.00 current limit I just was not sure what.
When you apply they ask you how much. I forgot and I took this to mean how much of a total credit line. I put in $25k wanting that to be my new limit. They alwaly take a few days to review the request and so a few days later I get an email stating that they can't give me a 25k increase but they can give me 16.5k taking it up to a 30k credit line and that they would send me a letter stating why the 25k was too much.
Although happy and thankful for the increase, I really wanted to know why I wasn't approved for the 25k.
The letter states that I did not receive the increase because I "did not have a sufficient number of accounts with a similar credit line" (apple wasn't reporting yet with 38k).
So if anyone has Schools First as their credit union and is in good standing, they appear to look at your existing credit lines and will give you a similar credit line based upon what you already have reporting.
Congratulations on the CLI and thank you for the helpful data point.
LOL, sweet, mistake nets you 5K more than you thought you were asking, big grats on it 
@Rdbeetle wrote:Congrats on your cli! I belong to Schools First also. Just got an auto loan with a great rate, and plan on apping for a card in a few months.
Don't get discouraged if the app takes 3 days or so to be reviewed. They are like U.S. Bank and only occasionaly have instant approvals.
Congrats on your Schools First CU CLI
