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Should I wait or ask now for CLI?

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jpschroe37
Established Member

Should I wait or ask now for CLI?

Newbie here, so bear with me. I haven't had a CLI on my Chase freedom ($1,500 CL) or Capital One ($1,750 CL) Platinum for over a year, so I was thinking of letting them do a hard pull on my account to get the CLI. Now, I have a bad mark on my credit report for a collection that is due to come off my credit report in May of this year. I also just took out a $10k auto loan last week for a new car (no payments made on the loan yet). My history is relatively new. The CapOne is my oldest card at 3 years. But the credit score for my auto loan was 781 out of 880 on equifax and I got  a 2.99% rate for a used car (to me that signals good credit). Heck, I even got a new job with a 10,000 raise last year. I pay off the Credit card each month in full haven't missed payments with them. And the usage is around 30% usually. Should I let them do a hard pull now, or wait till after May? Is there any alternative to having them do a hard pull? Also, should I concern myself with hard pulls on my credit report (from the loan and possible CLI... I don't anticipage more anytime soon)? I am just confused and frustrated with the low credit limits. Would like an increase to have something where my usage shows under 20% for when I look to buy a house. Thanks for the help. 

Message 1 of 12
11 REPLIES 11
09Lexie
Moderator Emerita

Re: Should I wait or ask now for CLI?

Message 2 of 12
jamesdwi
Valued Contributor

Re: Should I wait or ask now for CLI?

Its quite possible you will need to go through the Executive Office, see recent posts,  to get CLI on the CapOne card, the number on the back of your card 99% of the time will result in no change in credit limit.  If you contact Execute Office it will most likely be a soft pull, and a CLI.  Chase will be a HP but you have a very good chance, for an excellent chance wait till may when the baddie falls off and possibly pay down some of the debt or at least time it so you are below 20% perferably under 10%. 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 3 of 12
swpopham
Established Contributor

Re: Should I wait or ask now for CLI?

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 4 of 12
myjourney
Super Contributor

Re: Should I wait or ask now for CLI?

Welcome welcome welcome to the forumSmiley Happy

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 12
LS2982
Mega Contributor

Re: Should I wait or ask now for CLI?


@swpopham wrote:

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex


I agree with this.

 

When the account falls off try Cap1 EO for the CLI.

 




EQ FICO 548 3/3/16
Message 6 of 12
p-
Valued Contributor

Re: Should I wait or ask now for CLI?


@LS2982 wrote:

@swpopham wrote:

I agree 100% with above on the chase, wait 2 more months, Pull your report here and verify that its gone. Then call chase and ask them to take your limit to 5k. with a 1.5 years of history and a clean report your good as gold.

 

on the other, id start now with cap one, and if not tell them to take a flyng leap and close it and get somebody else like a nice blue cash from amex


I agree with this.

 

When the account falls off try Cap1 EO for the CLI.

 


Here's the Cap1 EO info:  http://ficoforums.myfico.com/t5/Credit-Cards/How-to-get-a-PC-or-CLI-from-Capital-One/td-p/1690104

Message 7 of 12
jpschroe37
Established Member

Re: Should I wait or ask now for CLI?

Appreciate the knowledge, all. Thanks.

Message 8 of 12
youngandcreditwrthy
Senior Contributor

Re: Should I wait or ask now for CLI?

Is the collection affecting your fico much?
Know what your fico is?
If your income is sufficient and your fico is 660+, I'd go ahead and send the EO of C1 an email. Expect them to counter; if you want $5k, ask for $10k.
And I'd wait til May for the Chase cli request.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 9 of 12
JRS123
Established Member

Re: Should I wait or ask now for CLI?

+1
U seem to be doing good and last thing u want to do is getting denied
Good luck
MyFico - TU- Hawk Alert Smiley Sad MyFico EFX 726.
Amex Blue cash 15K; Bofa Cash rewards 20K; Bofa Travelrewards 10K; 2/13 myFico 709
Target Score 760-800
Gardening since Jan'13 hopefully till Jan '14
Message 10 of 12
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