Credit Increase - effect on score?

[Anonymous]

I'm considering requesting a cli on my chase cc because of a high ut.  We are looking to buy a house within the next 6 months (so pre-approval will come before that).  What type of hit will the request have on my score, and will it be worth it for my ut?  Is it too late?  It is now at about 80%

[Anonymous]

Well you will almost certainly get a hard inquiry for the request. If approved it would help as it would bring your utilization down. IMO more than likely there's no way they are giving you a CLI when your at 80%.

[stpn2me]

Agreed,

Plus, you will take a hit for the hard pull, as well as if you actually use the card and charge up close to the new limit. Trust me, I have learned from charging close to your limit!

[Anonymous]

I don't use the card very much - I got it to do a bt prob 1 year ago.  The bt probably put me close to the limit (before I knew that was bad!).  I've paid on it every month since I got it, and rarely use it.  I could transfer some of it to another acct, but my only other card without a bt fee is at about 60% as it is and I want to get that down to 50% asap.

[Anonymous]

Does chase always do a hard for a CLI? I would call a rep.  If it was a BT offer, they may look ,ore favorably on the uti, but with that remaining uti, I wouldn't count on it. Call a rep ask if they can increase based on your payment history without a hard.

[Anonymous]

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@Anonymous wrote:

Does chase always do a hard for a CLI?

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Yes. The only way you may possibly not get a hard is if you are a very very very very smooth talker.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Does chase always do a hard for a CLI?

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Yes. The only way you may possibly not get a hard is if you are a very very very very smooth talker.

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WOW!!! Thanks for the info!! I was tyrying to get a CLI on one of their cards but don't use it enough to risk a hard for it.  It is at almsot 50% UTI on a special finance but that's the only reason I was going for it. Do they give auto CLIs every 6 mos or so or no?

This is a great place...lol!! Now I know what cards to go for (or not) in the future.

[smallfry]

From what I've heard most people end up with more available credit with Chase by just applying for another card. Obvious problem with that is the new account ding on the FICO score. At the end of the day it might be more beneficial to just go for another card. They are promoting the heck out of their Freedom card now. I would go for that. A CLI request will almost definitely result in a hard from Chase and they will probably only give you a 25-50% increase on your current line. Bite the bullet and apply for a new card.

[Anonymous]

Brammy, If you're talking about a Circuit City store card (NOT Credit Card) that's a different story. They USUALLY don't pull hard for a CLI request on the store card. In fact the Circuit City store card will usually give a hard-free CLI every 6 months.

[Anonymous]

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db23 wrote:
Brammy, If you're talking about a Circuit City store card (NOT Credit Card) that's a different story. They USUALLY don't pull hard for a CLI request on the store card. In fact the Circuit City store card will usually give a hard-free CLI every 6 months.

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Yes Iwas talking about my store card. I called for a CLI and it said it will depend on your credit file.  The letter I got back said somethng about Equifax but after speaking to a rep I realize it comes in month 7 not 6.  She seemed to think 6 but since this is month 6 (opened in April) she still said it would be eligible til next month.  Just want to lower uti on that card since I'm not making HUGE payments with it being 0% til July just 10 or so over min, though their min is still 3% of the balance.