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REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)

DeschutesMyVaronis
Valued Member

REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)

I got this offer in the mail. It's the first time I've been paid to request a CLI. I opted to request it online via US Bank portal. There were details on the CLI request page before actually submitting detailing the $10 statement credit offer. So it might be worth checking if you haven't received anything in the mail. It wasn't an instant approval and said it went to UW. It might be because I was lazy and only unfroze TU. I did see a HP on my TU report after submitting request.

 

PXL_20210609_011016481.jpg

Message 1 of 8
7 REPLIES 7
SouthJamaica
Super Contributor

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)


@DeschutesMyVaronis wrote:

I got this offer in the mail. It's the first time I've been paid to request a CLI. I opted to request it online via US Bank portal. There were details on the CLI request page before actually submitting detailing the $10 statement credit offer. So it might be worth checking if you haven't received anything in the mail. It wasn't an instant approval and said it went to UW. It might be because I was lazy and only unfroze TU. I did see a HP on my TU report after submitting request.

 

PXL_20210609_011016481.jpg


I'm baffled.

 

Usually I can think of a valid mercenary reason for a bank to do something.

 

But in this case I'm stumped.

 

 


Total revolving limits 663000 (585000 reporting) FICO 8: EQ 716 TU 747 EX 713

Message 2 of 8
longtimelurker
Mega Contributor

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)


@SouthJamaica wrote:


I'm baffled.

 

Usually I can think of a valid mercenary reason for a bank to do something.

 

But in this case I'm stumped.

 

 


Well, in MyFico land, the main reason for a CLI is "utilization padding" plus a perceived need for a card to grow or else its a loser.   It's possible that the bank hopes/suspects/has data, that for their REI customers, increasing the CLI will increase purchases (maybe especially at REI), and so is worth the $10.   

 

I got a $25K limit on my card when I applied, and I spend less than 80% of that at REI every month, so not a limiting factor for me, but maybe for true outdoor enthusiasts a higher CL translates into more gear being bought.

Message 3 of 8
DeschutesMyVaronis
Valued Member

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)

It might be to encourage spend. I only use my card a couple times a year exclusively at REI. Experian reports my highest balance as $450 since I opened the card a little under three years ago. I blacked it out from the image but my SL is $5500 and the pre-ish approval was up to $4500 to make it an even $10000. I want to say a year or so ago, I did go through the process of attemting a CLI request because I thought it would be a SP similar to BoA. Once UW reached out and asked to do a HP, I declined. But hey, won't pass up free money. I'm not 100% certain but I think the language implied you got the $10 even if the CLI was declined.

Message 4 of 8
longtimelurker
Mega Contributor

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)


@DeschutesMyVaronis wrote:

 But hey, won't pass up free money. I'm not 100% certain but I think the language implied you got the $10 even if the CLI was declined.


For some though, $10 for an HP (if it is an HP) really isn't worth it!

Message 5 of 8
FinStar
Moderator

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)


@SouthJamaica wrote:

@DeschutesMyVaronis wrote:

I got this offer in the mail. It's the first time I've been paid to request a CLI. I opted to request it online via US Bank portal. There were details on the CLI request page before actually submitting detailing the $10 statement credit offer. So it might be worth checking if you haven't received anything in the mail. It wasn't an instant approval and said it went to UW. It might be because I was lazy and only unfroze TU. I did see a HP on my TU report after submitting request.

 

PXL_20210609_011016481.jpg


I'm baffled.

 

Usually I can think of a valid mercenary reason for a bank to do something.

 

But in this case I'm stumped.

 

 


It's actually not a bad offer -- all things considered.

 

Back several years ago, Barclays offered targeted offers for CLIs and using BTs (minimum $500 with 2% fee, IIRC).  It was too good to pass up so 3 cards received fairly substantial CLIs, PIF once BT processed (all SP and triggered by the offer) -- total cost $30.  That's like a dinner out or a few Starbucks trips or whatever.  So, sometimes there are some decent incentives.

Message 6 of 8
DeschutesMyVaronis
Valued Member

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)

It looks like you don't even need the CLI to go through, just requesting it is enough to trigger the statement credit. My request is still pending UW (likely because I only unfroze TU). It's showing -$10 balance. In theory, I think you could request it with all reports frozen and still get the credit. It only took a day from requesting it to get the credit.

 

credit.png

 

 

Message 7 of 8
FalconSteve
Established Contributor

Re: REI Mastercard $10 Statement Credit For Requesting CLI (Targeted)

Glad you got the $10 credit, let us know how the CLI requesy goes

SoFi World Elite MC (TBOM) $7000 SL
REDcard $2500 SL
AmEx Cash Magnet $10k SL, CLI after 36hr to $20k
BB&T $11k SL- impulse application
BB&T $11k SL- AU, not on reports- impulse app (wife's card)
Discover $6300 CL- $1k SL- AU, no longer on reports b/c of error (wife's card)
Citi Double Cash WEMC $2900 SL, $4400 CL- AU- (wife's card)
AmEx Cash Magnet- $3100 SL, $9300 CL (wife's card)
BoA Cash Rewards $11k CL- AU (Dad's card)
BoA Premium Rewards $12.3k CL- AU (Dad's card)
PSECU Founder's Card $30k SL- AU (Dad's card)
AmEx Cash Magnet $12.5k SL- AU (Dad's card)
Wells Fargo Propel AmEx- $2500 SL, $3200 CL (AU, wife's card, not on CR b/c I was temporarily removed as an AU)

All PIF, frequently before statement close

Goals: Buy a house & get approved for an AOD VISA Signature card (or other 3% cashback)
Closed accounts (I had a long period of inactivity): AmEx clear, Citi ThankYou (previously Driver's Edge), Chase Freedom, Cap One, Discover IT, Lowes Charge (really stupid, huge limit), my 1st REDcard, Buy.com Visa, Children's Place, Kohl's Charge, Angel Card (AU- wife's), Old Navy card
Message 8 of 8
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