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CLI- When is too much... TOO MUCH?

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nenuco
Frequent Contributor

CLI- When is too much... TOO MUCH?

After reading all this information about prime banks being more strict regarding their AA and how they handle risks factors, I'm slightly worried about having too much credit. I was approved for the new US Bank Altitude Reserve, though it was not an instant approval. I thought I would get a lower credit line that matched my other US Bank card.

 

I decided to ask for a credit line increase from Citi and PenFed on the same day. Good news: I received the credit limit increase, though it was much more than I ever expected.

 

Citi increased my two lines by $23,000 and $18,100 respectively.

PenFed increased it by $28,000 Smiley Surprised

 

When I was finally approved for the Altitude Reserve, I called to inquire about the CL. Low and behold I was surprised with $41,600, one of my highest limits. My utility has always been 2-3%, always pay in full, and this US Bank card is the first account I've applied for in the last six months. This is 110,700 in new credit. I'm just worried about the effect this may have with my other banks. Especially if a computer can't tell the difference between someone desperate for credit and a consumer who is very responsible and appreciates all the great cards they have. I really love Chase and would hate to jeopardize that relationship. I don't MS or do anything shady. I never come close to maxing out any categories or deals. Should I call Citi & PenFed and lower the amount, as they basically tripled my previous credit lines? Or am I overreacting? Thanks!

Full on Garden Mode (•‿•)
Message 1 of 33
32 REPLIES 32
Aduke1122
Senior Contributor

Re: CLI- When is too much... TOO MUCH?

Wow that's amazing OP , can you add in your scores and what your profile is like so that we can know more about your sitt
Message 2 of 33
nenuco
Frequent Contributor

Re: CLI- When is too much... TOO MUCH?

Thanks! My CKarma score is was in the high 780's. I now have 17 inquiries in the last 24 months, 17 cards total, AAoA ~ 3 years, oldest account 7 years old. Any advice would be appreciated!

Full on Garden Mode (•‿•)
Message 3 of 33
Anonymous
Not applicable

Re: CLI- When is too much... TOO MUCH?

Too much is in relation to how much you spend versus how much you can afford.  Too much credit isn't a concern.  Too much debt is.

 

Cancel that thought with sketchy lenders who want to charge you 24.99% for a car loan (on a $40,000 car)  when you have $218,000 in revolving credit as a one percenter.

 

They want your 24.99% payments without you having the ability to pay in ten different ways.

 

Say hey to Barclays and Synchrony.

Message 4 of 33
sarge12
Senior Contributor

Re: CLI- When is too much... TOO MUCH?


@nenuco wrote:

After reading all this information about prime banks being more strict regarding their AA and how they handle risks factors, I'm slightly worried about having too much credit. I was approved for the new US Bank Altitude Reserve, though it was not an instant approval. I thought I would get a lower credit line that matched my other US Bank card.

 

I decided to ask for a credit line increase from Citi and PenFed on the same day. Good news: I received the credit limit increase, though it was much more than I ever expected.

 

Citi increased my two lines by $23,000 and $18,100 respectively.

PenFed increased it by $28,000 Smiley Surprised

 

When I was finally approved for the Altitude Reserve, I called to inquire about the CL. Low and behold I was surprised with $41,600, one of my highest limits. My utility has always been 2-3%, always pay in full, and this US Bank card is the first account I've applied for in the last six months. This is 110,700 in new credit. I'm just worried about the effect this may have with my other banks. Especially if a computer can't tell the difference between someone desperate for credit and a consumer who is very responsible and appreciates all the great cards they have. I really love Chase and would hate to jeopardize that relationship. I don't MS or do anything shady. I never come close to maxing out any categories or deals. Should I call Citi & PenFed and lower the amount, as they basically tripled my previous credit lines? Or am I overreacting? Thanks!


OP...what a loaded question...sure you'll recieve a huge variety of responses to "when is too much too much" Some on these boards will react as if you will be struck dead by requesting an unneeded CLI to lower utilization. Others would consider it a sin to even ask that question as noone should even slow down until you have 60 cards and 1 million in credit limits. I guess I would consider myself to be a centrist on the issue. I have 16 cards and about 150k in total credit limits, and I am now hiding in the garden to try and avoid any AA.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 5 of 33
nenuco
Frequent Contributor

Re: CLI- When is too much... TOO MUCH?

Thanks for all the comments and help. Didn't mean the post to be a loaded question... I wanted to see if it would be wise to lower the credit limits to more "reasonable" amounts, given the information regarding the scrutiny that has been going around lately. 

 

I know everyone will have different opinions, though I hope for some type of consensus 😊

Full on Garden Mode (•‿•)
Message 6 of 33
sarge12
Senior Contributor

Re: CLI- When is too much... TOO MUCH?


@nenuco wrote:

Thanks for all the comments and help. Didn't mean the post to be a loaded question... I wanted to see if it would be wise to lower the credit limits to more "reasonable" amounts, given the information regarding the scrutiny that has been going around lately. 

 

I know everyone will have different opinions, though I hope for some type of consensus 😊


The problem with a rash of reported AA on social media is only 3 people total being reported by 1000 people looks the same as 3000 people being reported, so it is really hard to tell if this is just a few people which would be normal or if it is actually the creditors tightening their standards or some of both. The greater concern to me is the news reports that indicate a higher percentage of defaults compared to last year, which would make me suspect some issuer actions to slow that trend.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 7 of 33
rlx01
Established Contributor

Re: CLI- When is too much... TOO MUCH?

If they gave you those lines they're comfortable with it and you should do nothing.
Message 8 of 33
gdale6
Moderator Emeritus

Re: CLI- When is too much... TOO MUCH?

Moving to CCs for better input
Message 9 of 33
Anonymous
Not applicable

Re: CLI- When is too much... TOO MUCH?


@nenuco wrote:

After reading all this information about prime banks being more strict regarding their AA and how they handle risks factors, I'm slightly worried about having too much credit. I was approved for the new US Bank Altitude Reserve, though it was not an instant approval. I thought I would get a lower credit line that matched my other US Bank card.

 

I decided to ask for a credit line increase from Citi and PenFed on the same day. Good news: I received the credit limit increase, though it was much more than I ever expected.

 

Citi increased my two lines by $23,000 and $18,100 respectively.

PenFed increased it by $28,000 Smiley Surprised

 

When I was finally approved for the Altitude Reserve, I called to inquire about the CL. Low and behold I was surprised with $41,600, one of my highest limits. My utility has always been 2-3%, always pay in full, and this US Bank card is the first account I've applied for in the last six months. This is 110,700 in new credit. I'm just worried about the effect this may have with my other banks. Especially if a computer can't tell the difference between someone desperate for credit and a consumer who is very responsible and appreciates all the great cards they have. I really love Chase and would hate to jeopardize that relationship. I don't MS or do anything shady. I never come close to maxing out any categories or deals. Should I call Citi & PenFed and lower the amount, as they basically tripled my previous credit lines? Or am I overreacting? Thanks!


Is this a real question or a thinly veiled attempt to brag about your limits? LOLOL Congrats on the Altitude card and PenFed CLI. 

Message 10 of 33
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