CLIs: Pros and Cons

[Anonymous]

Yes, cli's are great for having less cards and a good amount of limits to keep your ut low when you want to purchase something.  You can reach an internal limit for different banks.  Not much of an issue.  They're good banks.  I would rather have some really good prime cards with a good total cl than a bunch with low limts.  I don't normally purchase something for less than 2k.  Can go higher.  Just depends on what it is.  So if I have a 20k limit card, I don't need to worry about my ut on that one particular card. For the record, that is for things I like or things for the house.  Not your regular items.  

[Anonymous]

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@beautifulblaquepearl wrote:

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@Anonymous wrote:

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@Gmood1 wrote:

@Anonymous Lol...your as bad as me. At least 3 of those are SP cli cards. How in the world did you end up with two Freedoms? You have some nice CC's.

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I applied for FU (4/24)... then 2 more... then  Freedom (7/24) before any of the new accounts posted so I snuck by Chase's 5/24.  I am sort of wondering what Chase will do... so I am going to lay low for a few months. hah!

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It's definitely time for you to hang out in the garden.

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Yep, already started. I have all of the non-AF cards I wanted. Now, I want to read up investment strategy. 

[Anonymous]

I resisted asking for a credit card increase. My score went up 15 points after a week of gardening.  

[driftless]

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@irunfromcredit wrote:

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@kdm31091 wrote:

The other part of it is that even when your score is slightly changed due to utilization, the impact is temporary with no memory. There's no benefit to maximizing utilization month by month unless you feel it's going to make a difference for an application (and a few points are unlikely to matter much).Of course, you don't to be posting super high utilization, but other than that, manipulating it is more just something people enjoy doing vs something that is necessary IMO

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I gave up trying to "optimize" my score and just let all my balances report and just PIF.  My scores fluctuate between 740-760, and in the big scheme of things I don't think it will make a major difference, especially since I am not seeking anything significant like a mortgage right now.

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I do the same thing, I PIF on the due date and sometimes pending transactions report between the due date and statement date so the scores bounce around a little every month. As to CLI's I have very usable limits on my Chase cards and I am not going to use a HP in the foreseeable future to ask for a CLI. Cap One, on the other hand, I have reminder in my calendar to hit the luv button every 6 months. I curious to see how hight that CL will grow. It helps to have no fear that Cap One will do an AA.