Background:
I have had SunTrust Cash Rewards Mastercard (soon to be Truist Mastercard, once the new name takes effect 
) for a bit over a year with a fairly minimal usage. Never had any other SunTrust products besides this card. Original SL was just under $9000. Was kind of hoping for an Auto CLI but that did not happen so went ahead and pulled a trigger on a CLI request. Knew that this was going to result in another Equifax (EQ) Hard Pull (HP) inquiry.
CLI Process:
CLI must be requested over the phone. When requesting CLI, one is asked to specify a limit increase amount. I asked for a $6000 increase reasoning that this would put me just under $15,000 if approved (e.g. in case the computer algorithm applies a different criteria for a $15,000 SL). Information asked for a CLI request was address, current income and mortgage / rent status.
EQ HP came as expected, about 2 days later (not instant). Then, my CLI request got stuck in additional verification, had to call back and verify some basic details. Once verified, CLI was approved and a new SL of just under $15,000 showed up the same day online. It appears though that all CLI requests go through a manual underwriting review.
Overall, happy with the CLI process although left wondering what would have happened if I requested a larger limit increase.
Data Points:
- EQ FICO 8 around 750
- AAofA is around 3 years
- 4 inquiries on EQ in the last year
- More than > 10 new accounts in the last 12 months, over > 5 in the last 6
This CLI request was pretty much the last app of my recent app spree.
Thank you!!
YOU...
CONGRATS on your AWESOME SunTrust Cash Rewards MC CLI and Thank You for documenting your CLI experience!!!
Congrats!!!
