Credit Line Increases

[paramed3]

As most know a CL increase is a great way to get a bump in your FICO scores. I started this thread as a way to help each other with information

I just got my paypal smart connect mastercard that reports on my credit file bumped to 8000 from 5000.
My capital one quicksilver from 6000 to 8000 both of above no hard inquiry.
Also JC penny from 2750 to 4000 again no Hard inquiry. My American Airline at 10,000 wanted a hard Inquiry so I said I would wait on their bump.

My FICOS hit in 800s first time 2 months ago since 25 years ago. In 2008 it was 533. Takes time and a lot of doing nothing but paying your bills. I have new truck 2 years old with 2 hard inquiries about to toll off in 10 days. It should push last 798 into 800 range and give all 3 a little cushion when I need to use my cards.

Looking into a small mortgage for a rental home income. Not sure how it will go.

[paramed3]

I keep all 3 of my credit files locked. It probably hurts me from good credit card offers now with my scores but I know locked no one can open anything in my name. I've been told it's just as bad as an opt out but very safe as far as your idenity.

[Anonymous]

Congratulations on your cli's!

[Anonymous]

congrats on your CLIs also. and, brw, CLIs don't directly impact your score. only if you carry balances. if you're reporting 1% then if you have $10k in credit or $100k it won't make a difference. no part of the scoring model says that the amount of credit obtained affects the score.

[paramed3]

That is not what I have read and Bern told as see here and in score simulators. I've never gotten a CL that my fico did not go up and was most of the time with 1% utilization. I try to keep it at 1% on 1 card changing which card all the time.

I do see your point the higher your cl the more your can use your card and stay at less than 10.

I've seen countless post here on cl to help their fico and where are these algorithm rules you state it looks at ? I've never been able to clearly find them.

[paramed3]

You're right it just lowers your utilization when cards used. WHY do people put so much emphases on higher credit limits ? I have always taken advantage of them as long as they don't cost me a hard Inquiry thinking it helps my credit score. It's strange you think one thing is helping when another is really doing it.

No derogatory
Perfect payment history
Low utilization
Mix and use of credit

Has dragged mine up over the years. Strange I have great fico good CL and I feel scared to use any until I see that 850 across the board just one more time in life. Lol

http://www.scoreinfo.org/overview-of-fico-scores/fico-score-factors-guide/

[Kidcat]

Congrats on your CLI and your very successful rebuild.  Good luck to 850.  I'm rooting for you.

[Anonymous]

that was an amazing rebuild. congrats on that and on your recent clis.

[Anonymous]

if you're reporting 1% it doesn't matter what the CL is.

35% - payment history
30% - balances in relation to CL
15% - types of credit
10% - AAoA
10% - search for new credit

[paramed3]

Thanks very much. It's been a long hard discipline road. One hit 808 this past month December that is highest number I've seen since 1990. With 2 inquiries due off Dec 17 and another December 20 I hope that will kick all 3 in 815 range 820 I would not be able to handle it. I will not quit until I see 850 X 3 even if just for a week. I need to know I finished what I started.

Before my credit was checked in 533 I would say 5 years before that it had probably hit 400 range but by the time I looked some things were not there 7 years old then in 2008. I have no clue how I let things get that far out of hand. I sure live within my means now.

Thanks again