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I went back and asked for 17,000 on the one card that is sitting at $11k. Instant approval. It worked, thanks guys!!
Amex Gold Card - (Charge Card)
Amex Blue - $17,200
Amex HHonors - $17,000
Total: $34,200
I just triggered an FR by requesting a CLI on my ED card from $6k to $18k. I have 3 other cards Amex Hilton at $1k, Gold Delta at $15k and Plat delta at $15k.
@DrZoidberg wrote:I just triggered an FR by requesting a CLI on my ED card from $6k to $18k. I have 3 other cards Amex Hilton at $1k, Gold Delta at $15k and Plat delta at $15k.
Didn't trigger a FR did you? I think you meant they asked for a 4506-t to get to 18k, they didn't freeze any of your accounts? People tend to get these terms confused. FR = Froozen Accounts and request for 4506-t or most likely you accounts are good bye if not provided; a CLI reequesting a 4506-t if you don't provide you simply just don't get a CLI, accounts are still useable
@CreditCuriousity wrote:
@DrZoidberg wrote:I just triggered an FR by requesting a CLI on my ED card from $6k to $18k. I have 3 other cards Amex Hilton at $1k, Gold Delta at $15k and Plat delta at $15k.
Didn't trigger a FR did you? I think you meant they asked for a 4506-t to get to 18k, they didn't freeze any of your accounts? People tend to get these terms confused. FR = Froozen Accounts and request for 4506-t or most likely you accounts are good bye if not provided; a CLI reequesting a 4506-t if you don't provide you simply just don't get a CLI, accounts are still useable
It was just a 4506-T request. I filled it out. I have nothing to hide.
So why don't you guys fill out the 4506-T when asked....? I requested a 25k to 75k jump before, i got a 4506-t request, filled it in, got counteroffered for 48.2k. Just did a request for 90k and got 4506-t again. Filled it out and keeping my fingers crossed...
I dont get why some people request credit limit increases over and over to obtain such hugh limits, What is the advantage of this? Does it not come a time when you are maxed out on exposure ( with each lender and overall) ? Does your account not get some sort of flag on it internally with lenders? No they are not going to tell you that they are watching you, just because they grant your request. I just don't understand it why not let increases just happen naturally. Am I missing or don't understand something? If so please feel free to enlighten me.. I'm always absorbing and learning.
@kromix wrote:My Question is, once 4506-T's due to a CLI is it safe to assume any future CLI's will always result in this
Probably -- at least for the amount of increase you were requesting. You've hit a point where they need to verify income to grant the additional credit that you requested. You're not out of that point by ignoring the 4506-T. Requesting a smaller CLI may slip through but you'll eventually hit the same point.
@thelethargicage wrote:That's what my dad did (there's no way in hell I'm referring to him as my "DD").
Why would you refer to him as your daily driver anyway? That's just weird.
@Anonymous wrote:So why don't you guys fill out the 4506-T when asked....?
Some do, some don't. Some find the request too invasive. It's up to each to determine such things.
@Vegas4Play wrote:I dont get why some people request credit limit increases over and over to obtain such hugh limits, What is the advantage of this?
Very common topic. Don't overlook all the prior discussions on limits. Keywords below probably aren't the best choice but play with them. This gives you a sample site-restricted search for this site.
A common (but not the only) answer is revolving utilization. Read up on its impact on scoring and risk assessment. It falls under Amount Owed, the second biggest factor below:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
@Vegas4Play wrote:Does it not come a time when you are maxed out on exposure ( with each lender and overall) ?
Certainly. No creditor is going to extend infinite credit to anyone. However, the amount that can be extended toa given credit profile can and does vary by creditor. If it becomes an issue and is cited as a denial reason then one can close accounts, request CLD's, reallocate limits, etc. The thing is that you won't find these limits until you bump into them.
@Vegas4Play wrote:Does your account not get some sort of flag on it internally with lenders?
No idea. We're not underwriters for these creditors and creditors are not all exactly alike. Some could flag an account but I'm not sure why they would. Any creditor will review an individual's entire credit profile including credit limits on accounts. There's really no need to flag since any decision will require review of one's credit profile.
@Vegas4Play wrote:I just don't understand it why not let increases just happen naturally.
Some do. Each has to determine what works for the individual. Never assume on any discussion forum site that popular topics indicate the only way to do things.
@Vegas4Play wrote:I dont get why some people request credit limit increases over and over to obtain such hugh limits, What is the advantage of this? Does it not come a time when you are maxed out on exposure ( with each lender and overall) ? Does your account not get some sort of flag on it internally with lenders? No they are not going to tell you that they are watching you, just because they grant your request. I just don't understand it why not let increases just happen naturally. Am I missing or don't understand something? If so please feel free to enlighten me.. I'm always absorbing and learning.
I agree with you that sometimes the obsession with huge limits puzzles me. I mean, most people can't get real use out of a 1 or 2k limit and I understand that. But an "average" person with "average" income and spend is not spending anywhere close to 25k a month on a credit card, so that kind of limit is just not needed. Huge spenders may see value in it, but beyond that, you're just tying up exposure that could be diverted to something more useful. It's not discussed much, but lenders do consider limits vs income and having a few huge limits could hinder approvals down the line.
For me, I have an Amex and Discover both at roughly 15k and I would never even care to ask for an increase again because the limits are basically astronomical. As long as a card is at 5k or more, I'm fine. With my spend, it keeps my util low enough. I have been "eligible" for awhile for an increase on my Amex, but guess what? I don't need it. To each their own, but just remember limits vs income when asking for CLIs constantly.
Agree, one day there will be no more CLIs...period!!! Like I always have said, it's just a game/race to see who can get the most out of banks (not all, but some).
:-)
Thank you Takeshi and KDM for the info. I am familiar with the utilization aspect of having the higher limits ( and the pie chart on what makes up your fico score). I thought maybe I was missing something.....something else. My utilization is 2-5% and I plan to keep it at that. I guess I'll just piddle along, LOL. Good Increasing wishes to the rest. Do You.