I was denied a CLI for the following reason: “balances, as shown on your credit bureau report, are too high when compared to your income.”
About a week before requesting this CLI, I paid my credit card balances down to $6k. My income is $32k and my credit limits total $28k. Once I was denied I realized that the payments that I made toward my cc balances were not reflecting on my cr yet (duh). So I called customer service, spoke with a supervisor and she said the only thing that she could do is submit another request for an increase but she couldn't say if it would be a hp or a sp.
I've already drafted a recon letter but I'm wondering if I should just let it go. I feel like if I do a recon for the reason that I mentioned above that they will just pull my recent cr to see that the balances on my accounts have been reduced and IF they do that, then I might as well wait until my cr is updated and apply for another increase myself.
My Citi Platinum card has a $0 balance and I was requesting an increase from $1,200 to $3,500. I also have another Citi cc that has a $0 balance and a $3,200 cl.
Wait till your reports update then request a CLI again.
Keep in mind that Citi Customer iniatited CLI's are al;ways a hard pull so think twice before you ask again after the pay downs hit your report. Asking for triple with your income is a gamble as well