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@creditguy86 I know exactly how you feel as I'm in a similar situation with Chase (only I've had my Chase Slate card since 2011) I have been thinking about closing my Chase Slate which has a $300.00 SL and never automatically increased but Chase was willing to review based on a HP and I declined. I have kept that trade line open only because of the account age and after reading many posts on this forum, I'm going to see if Chase offers me a CLI by 12/2021 . . . If not, I will probably close it. I charge on it monthly and always pay it off as I just keep current activity. Chase pulls Experian in my state and my credit report previously included a Bank of America 01/2016 charge-off -but- Experian deleted the charge-off on 05/15/2021 -so- I'm going to see if that was the reason for no Chase and auto CLI.
If there is no AF I would keep it and sock drawer the card. Eventually the lates and negative information will drop off but the age of the account will help you. I have a Macy's card (It is also backed by Citi) that is 14+ years old. They reduced the limit to $100. I decided to keep the card since it is 14+ years old and there is no AF. Eventually in the next few years when the derogs falls off my report then I could ask for the CLI. Your case is the same. All you are getting at this point is long account history + no AF. Time to sock drawer the card and move on.
I had the same issue with my Citi DP/secured 400 limit.... I didn't have any Citi cards and figured this would be a way to get my foot in the door it graduated at 10 months... I had it for 2 years... ALWAYS INSTANT DENIAL for CLI. What I found odd is I have a Citi-backed BB visa with a 4K limit. I closed mine at the 2yr 3 month mark as I have other cards that have grown
@cb171974 wrote:I had the same issue with my Citi DP/secured 400 limit.... I didn't have any Citi cards and figured this would be a way to get my foot in the door it graduated at 10 months... I had it for 2 years... ALWAYS INSTANT DENIAL for CLI. What I found odd is I have a Citi-backed BB visa with a 4K limit. I closed mine at the 2yr 3 month mark as I have other cards that have grown
Citi core cards have a much different UW criteria compared to Retail division. Comparing apples and oranges.
OP, I'd keep card with no AF. Scores and delinquencies with lender are a major factor with CLI. That is common actually. They are looking for clean report and higher scores. This is common with Chase, Amex and similar lenders.
I had the same issue with Macy's. My oldest card at 13yrs reduced to $100. During the pandemic I used the card allot making multiple payments a month. Asked online for a CLI back to where my limit use to be $1100 was approved. Have asked for CLI for years.
@blindambition I figured this as well just wanted to state my whole path with Citi.
@blindambition wrote:OP, I'd keep card with no AF. Scores and delinquencies with lender are a major factor with CLI. That is common actually. They are looking for clean report and higher scores. This is common with Chase, Amex and similar lenders.
True but sometimes scores are meaningless without the income / low debt to back them up. Lenders will only lend so much based off a score. Im firmly in the camp that scores are the least important when being approved but thats just my personal belief
@AverageJoesCredit wrote:
@blindambition wrote:OP, I'd keep card with no AF. Scores and delinquencies with lender are a major factor with CLI. That is common actually. They are looking for clean report and higher scores. This is common with Chase, Amex and similar lenders.
True but sometimes scores are meaningless without the income / low debt to back them up. Lenders will only lend so much based off a score. Im firmly in the camp that scores are the least important when being approved but thats just my personal belief
I totally agree, but delinquencies can be a major factor. Amex for example, giving a $1k limit... We know that's borderline approval. If that profile has delinquencies, odds are no CLI on that account until delinquencies fall off. Even if you added 3 new Amex accounts and improved scores. @Anonymous was a good example of that.
100% accurate. I added too quickly with them, and with an old paid derog on my EX file, I have four Amex revolvers with $1000 limits. It's interesting that they've never throttled my charge cards but yeah, on my revolvers I've seen no love at all, and I'm now 30 months in as a cardmember with a lot of spend and over ten years of perfect card payment history, 700s, and single-digit utilization.
With Citi, when I had baddies I couldn't grow my Home Depot card. It was at $500 for over 12 years. Eventually they were aged enough that I was able to get an increase. Once my EQ went clean, I got increased to a $20,000 CL just by asking.
@blindambition is correct that the big banks like Citi and Amex likely are fairly flexible on scores above a certain minimum but profile strength has to be good in the other regards, and derogs (even if aged) can still be a growth-killer.