Citi CLI debacle

[Anonymous]

Called Citi to see if I could get a 2x CLI (1000-2000). Asked the CSR if it would be hard or soft and he told me he wouldnt know until it was processed. I did it anyways and it got denied. I asked for a recon and got transferred to the account manager. Right when I was varifying my info the line went dead... probably hung up on me So, I called the retention # and spoke with a very nice woman. She attempted to process it and it came back as "unable to process at this time" for some reason. She told me to wait for the letter so I know the specific reasons as to why I was denied. I explained that my 90% util was all due to BT and that I wanted to put the rest of my debt on that card. I also pointed out that I make 3x+ the min payment every month - still didnt work  

never got an answer as to if it was hard or soft... ideas? was it foolish to think I would actually get a CLI since my util is so high? now all I can do is wait for the darn letter. 

She did say that she would flag my account for an auto CLI, though

[trumpet-205]

It sounded like you have the card for couple months. To request CLI, do it online AND do it after the card is opened for 7 months.

Also, you need a 6 months gap between now and previous CLI attempt for next CLI.

[Anonymous]

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@trumpet-205 wrote:

It sounded like you have the card for couple months. To request CLI, do it online AND do it after the card is opened for 7 months.

Also, you need a 6 months gap between now and previous CLI attempt for next CLI.

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Ive had the card for 6 months now (6th statement cut 5 days ago) I attempted to request an increase 2 months ago, but denied because it wasnt 6 months. Would this be a similar situation? do they want 7 months of history before a request?

[trumpet-205]

You need 6 payment history, hence 7 months.

EDIT: 90% utilization is a big red flag. No lender will CLI with such a big utilization.

[Anonymous]

Never good to go app'ing for CLI or cards at 90% UTI..that is a BIG red flag for lenders (even if it was a BT, how did you BT to 90%..closed the other card???).  Just get the UTI down and wait a few months on the AUTO CLI....but in the mean time get that high UTI down!

[Anonymous]

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@Anonymous wrote:

Never good to go app'ing for CLI or cards at 90% UTI..that is a BIG red flag for lenders (even if it was a BT, how did you BT to 90%..closed the other card???).  Just get the UTI down and wait a few months on the AUTO CLI....but in the mean time get that high UTI down!

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thanks for the clarification on the 7 month time frame. I completely understand that it is a red flag and looks absolutely HORRIBLE on my CR. I transferred the balance from my Cap1 card since it had a 24.99% interest at the time (now down to 17.9% - still high :/ ) I used the Cap1 card for school expenses this past semester since I got cash back and then transferred the balance to avoid the interest. I figure that it makes sense to transfer and save on interest, even though it resulted in high util. Even though im only saving ~$8 a month, thats still $8 more towards the principle balance. 

[Anonymous]

Also, my overall util is around 26%, so its not like all my cards are maxed and I cant afford the monthly payments. I just thought if I could plead my case and explain the util that they may be willing to take my money for the BT fee. I would like to have 1 payment to think about rather than several. 

[Anonymous]

trumpet-205

Thats what I was fearing. I also have a 0% APR for 18 months on BT with discover. I could transfer the other $700 from Cap1 onto that card, resulting in 80% util on discover. OR, would it make sense to BT $500 from Citi to Discover so Citi is now at 40% util and then request the CLI? 

The reasoning behind the last senario would be to have another $1000 available, thereby reducing my util by ~4% points. 

[trumpet-205]

How much debt are we talking about? Sometimes a personal loan would be better than credit card to pay down debt.

To Citi's point of view, you nearly maxed out the card, even if it is from BT. They will not be comfortable for CLI until you pay down the debt.

[Anonymous]

Total CC debit is $2046.43  

I am near certain I would not get approved for a personal loan since I got 2 new cards this month (after Apps: total of 4 inquires on my reports). Plus I'm a student making ~15k a year. Even if I were to get a personal loan, the interest rate would certainly be higher than the 0%. I have until 9/2013 to pay if off by, which I should be able to pay off way before then.