CLI Strategies, looking for input

[Anonymous]

Hi All,

Looking for some advice on how to maximize some CLIs on a few card accounts.

My FICO 8 is currently sitting at the following:

Eq 719
Tu 715
Ex 717

I currently have the following card accounts:

BoA Cash Rewards 5,000 SL (4 years old)
Cap One Quick Silver 3,000 SL (~5 months old)
Citi Double Cash 5,000 SL (~5 months old)
Discover IT 6,000 SL (~5 months old) 63% Utilization
Chase Freedom 3,000 SL (~4 months old)
AMEX Cash Magnet 8,000 SL (~5 months old)
NFCU Cash Rewards 1,000 SL <30 Days old)

Total utilization is around 12-15%

The utilization on the Discover card is higher than the others as I’ve taken advantage of a 0% balance transfer offer.

I’m looking to maximize my odds of getting CLIs on ONLY the accounts below.

AMEX 3x CLI. I requested this after the account had been open for 90 days but was denied. I think I should have waited a little longer. I’ll be eligible to request the CLI again at the end of February.

Cap One QS. I believe I’m on their tiered system; the mobile app says I’ll be eligible for an increase from 3000 to 3500 after my next on-time payment, which will be towards the end of January. From what I’ve seen they can be stingy with the CLIs so I’d like to make the most of this when I request the increase. As a result, I’ve been putting the bulk of my monthly spend on this card; my understanding is that Cap1 likes heavy use on their cards.

NFCU Cash Rewards. I was hoping for a higher starting SL, but my understanding is that this is somewhat typical with NFCU and that generous CLIs can be had.

My income is 200k.

The question I have at this point, is what do I do to maximize my chances of some healthy SL increases on these three accounts? Reduce overall utilization? Change spending patterns ect? Any input or suggestions would be appreciated.

Thanks!

[Anonymous]

Looking for some advice on how to maximize some CLIs on a few card accounts.

My FICO 8 is currently sitting at the following:

Eq 719
Tu 715
Ex 717

I currently have the following card accounts:

BoA Cash Rewards 5,000 SL (4 years old)
Cap One Quick Silver 3,000 SL (~5 months old)
Citi Double Cash 5,000 SL (~5 months old)
Discover IT 6,000 SL (~5 months old) 63% Utilization
Chase Freedom 3,000 SL (~4 months old)
AMEX Cash Magnet 8,000 SL (~5 months old)
NFCU Cash Rewards 1,000 SL <30 Days old)

Total utilization is around 12-15%

The utilization on the Discover card is higher than the others as I’ve taken advantage of a 0% balance transfer offer.

I’m looking to maximize my odds of getting CLIs on ONLY the accounts below.

AMEX 3x CLI. I requested this after the account had been open for 90 days but was denied. I think I should have waited a little longer. I’ll be eligible to request the CLI again at the end of February.

Cap One QS. I believe I’m on their tiered system; the mobile app says I’ll be eligible for an increase from 3000 to 3500 after my next on-time payment, which will be towards the end of January. From what I’ve seen they can be stingy with the CLIs so I’d like to make the most of this when I request the increase. As a result, I’ve been putting the bulk of my monthly spend on this card; my understanding is that Cap1 likes heavy use on their cards.

NFCU Cash Rewards. I was hoping for a higher starting SL, but my understanding is that this is somewhat typical with NFCU and that generous CLIs can be had.

My income is 200k.

The question I have at this point, is what do I do to maximize my chances of some healthy SL increases on these three accounts? Reduce overall utilization? Change spending patterns ect? Any input or suggestions would be appreciated.

Thanks!

[Anonymous]

What was your AMEX CLI denial reason?  You wanted to request at 91 days after denial.  If you requested early and your denial was due to timing, you can try your CLI request again anytime.

[Anonymous]

I spoke to AMEX about this and the rep stated I should wait the full 91 days before requesting another CLI since I was denied.  I don't want to make the same mistake twice, so I have no issue waiting a bit longer.

[Anonymous]

Any thoughts on maximizing the CAP1 & AMEX CLI when I pull the trigger on those?  Will they care much about the utilization on the other cards, or will their decision be based primarily on my relationship with them?

[Anonymous]

Factors that get you to high CLs are high score, lots of use, and TIME. The other is something you don't lack--income. Based on your card history, you lack time. I have healthy lines, but some of my cards are 10+ years old. CLs and trees have something in common. To grow them large, they both take time. 

To get there, use your cards, PIF,  pay on time,  and do it for years. Your scores will go up, and so will your lines. Some cards won't grow much. Cap 1 is tough, they tend to be dwarf trees.

[MacCreed]

OP your fico scores seem low with your cards.  Do you know why?  Any large mortgage or student loans or late payments?  

[Anonymous]

Yes; I’ve got some lates. 3x30 days, and a 60 & 90 day. These are 6 years old so they should be falling off about 12 months from now (give or take).