I have had my Walmart MC (which started out as a WM Discover) for just shy of 3 years. It started out as a fairly small amount (thinking around 900) and has gradually went up over the years and has increased every time I have ask for a CLI.
The last time I ask for an increase, they approved it, and it went up to $7500. I don't exactly know when it was, but can tell you it was over a year ago since WM only allows you to look at your statements for the past year and all of 2015 was at $7500.
This year, I have asked for 2 increases and each time have been denied. When I receive my denial letter in the mail, it has the following wording:
"We are not able to assign the credit line you requested because it exceeds the amount of increase our policy allows."
When I ask for an increase, it does not have any place to ask for a certain amount. So I'm not actually asking for an amount, just an increase.
I get the same verbiage every time.
Does this mean that I'm permanently stuck at the $7500 limit and that's as high as they allow since this has happened twice now?
As you can see, I have excellent credit and my scores are listed in my signature line.
@Anonymous wrote:Do you use it often? Do you have other Synchrony cards where you may might have reached your internal limit? Just a food for thought you know. If you have other cards then that may be it.
I don't believe I have any other Synchrony cards (cards in sig). I think it's the only one I have issued by them. Barclay is not a Synchrony card is it?
I have used it since I had it and always paid it off. Never late. Do you have any idea what the "internal limit" is for Synchrony?
@FinStar wrote:
@Anonymous wrote:Do you use it often? Do you have other Synchrony cards where you may might have reached your internal limit? Just a food for thought you know. If you have other cards then that may be it.
Agree. But, SYNCB can be all over the place since some members have yielded unsuccessful outcomes online but can get a CLI via chat (presently not available) or sometimes not get the CLI through Credit Solutions. But, I wouldn't think it would stay forever at $7,500. Also, your income/DTI can play a role with this decision depending on whether they feel you have sufficient exposure at this time.
My income is good and income DTI is around 3% with $91,450 in credit limits reporting on my personal credit (others are business). I always pay my cc's in full and sometimes prior to cutting. We have let them cut with small balances to large amounts then PIF.
@Anonymous wrote:It's an excuse to pretty much telling you to go away stop asking for CLI. You don't need it you don't use anywhere close to the 7500 limit you already have so you don't need more. They have no other excuse to decline you. They can't say " we think your credit limit is high enough for you since you never use close to your limit some are not extending more credit to you"
I have used it to the limit before and then paid off in full. (Thought maybe they might think I didn't need the increase as well) I have used it to the limit and then paid off in a few statements in the past. I have tried every scenario to see if anything changes. Nothing seems to matter.
I can say that my cards that give me frequent increases or when I ask for them every so often gets most of my business. If they are willing to increase me, I'm willing to use their card the most. When I get stuck at a limit, I have a tendency to stop giving them my business other than a cheap $20 charge every few months to keep the card in "use". Will they see this and wonder where I went and give me an increase sooner or later? Just my logic of thinking. They reward me, I reward them. I have plenty of cards and credit at my disposal that I feel I can play "favorites" when I need to.
