Is it considered as normal to have to wait up to almost a week for response to a CLI from a CU?

[galahad15]

I originally submitted a request for a CLI from a CU last Tuesday, and also provided POI on the same day.  However, the CU has still not given me the results of the decision on the CLI request.  I was just wondering, is it considered as normal to have to wait up to almost a week for response to a CLI from a CU?  I have tried e-mailing and calling the CU several times to follow up...still nothing so far though...

[FinStar]

In some cases yes, but it depends largely on the CU itself. Some of the local ones have been known to take a while before a decision is made.

A few years ago, there was an out-of-state CU that took ~2 weeks, but since I'm fairly patient with these things, I had totally forgotten about the request.

From your CU collection, which one was it?

[galahad15]

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@FinStar wrote:
In some cases yes, but it depends largely on the CU itself. Some of the local ones have been known to take a while before a decision is made.

A few years ago, there was an out-of-state CU that took ~2 weeks, but since I'm fairly patient with these things, I had totally forgotten about the request.

From your CU collection, which one was it?

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Thanks for your helpful feedback and comments, in response to your question it was a CLI for the BEFCU card, requesting to increase the CL to $10k.

[FinStar]

Oh gotcha. Yeah I'm not familiar with BEFCU and their originations/CLI process but maybe someone who's had a similar experience with CLIs can chime in.

Maybe you'll hear good news by the time someone replies on here 😁

[FinStar]

@galahad15, has your CLI request been decisioned yet?

[galahad15]

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@FinStar wrote:

@galahad15, has your CLI request been decisioned yet?

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Hi again FinStar, thanks for asking -- the person who approves CLIs at BEFCU said about 2-3 days ago that the request was undergoing a second review by the credit committee.  Apparently on the initial review of the request, they determined that I had too much total available credit extended between all of my cards (i.e., too much total exposure?), and she asked if I was willing to either close out some other cards or take CLDs on other cards.  I wrote back on 3/6 mentioning that yes I was willing to close or accept CLDs on other cards...still waiting to hear back from her on that e-mail though...also sent her a friendly reminder message this afternoon to inquire if there were any new developments.  BEFCU is in the Pacific Time zone though so I'll see if there are hopefully any responses either today and/or next Monday, and will try to keep everyone updated...

[AverageJoesCredit]

Hey @galahad15, just tell them you will be more than willing to cld Blispay😁

[galahad15]

Update:  I finally heard back from BEFCU this afternoon. I ended up withdrawing my request for a CLI, since the CU said that in order to even be able to qualify, I would need to have a maximum total CL across all cards of no more than $140k max, which would require a massive total CLD.  

[Anonymous]

These CUs are crazy. I don’t see why it’s such a problem for them to share the risk with other lenders... I mean if you lower your limits that puts them at a higher risk if you have a serious problem come up. 

[AverageJoesCredit]

Sorry to hear G. Sometimes it just not worth it for the extra credit. If they had a card that was superior maybe id do it but not for a couple extra grand. Its good you went through the process, now you know where you st as nd with them