CLI Strategy

[BackInTheSaddleAgain]

I realize this subject has already been discussed extensively, but it seems there is no real concensus. Are CLI success odds better with or without a balance showing? I currently have balances on 2 of my main cards, but generally pay in full every month. Should I ask for CLI's tomorrow with balances as they stand below, or wait till their statement cycles and they are paid to zero?

• Barclay Arrival (CL $6,000):  Bal = 0 
• CapOne Venture (CL $7,500):  Bal = $5,300
• NFCU goRewards (CL $20,000):  Bal = $15,700

Thanks ahead of time.

[NRB525]

I can't speak to Barclays or NFCU, but with that high of a balance on the CapOne, you might have issues getting a CLI.

I have a $10k CapOne, it has been $10k forever. I BT $5,700 onto it in November and started paying it down at about $500 per month.

CapOne should have a "Request a CLI" button, and that was a SP, "no credit report will be requested". I got denied, a couple of times over the last few months. First for too high open balances and not large enough monthly payments, then recently just not large enough monthly payments. So i continue to pay large amounts each month.

If you have the CapOne SP CLI request available, it is worth a try, because you either get the CLI, or know why you didn't get the CLI, and no HP, and then can try again in 6 months or so.

If you are paying to zero, best wait for that on the CapOne.

[takeshi74]

Balances play a part in utilization but even utilization is just one factor among many that matter in evaluating your credit.  You can't rely on balances/no balances alone for a CLI.  Your entire credit profile is used in determining your eligibility for a CLI.  A lower balance helps in as much as it helps to lower your utilization.

That said, your two cards with balances each have utilization over 70%.  30% is the generally recommended max.  Ideal is even lower.