Small credit union I bank at called and asked why I want/need a CLI?

[Royalbacon]

So my credit union has a Visa Signature card which you need a minimum $5000 limit to get, and I currently am at $4500 and want a $500 limit increase so I can product change to it. They called and was like "We see you have no balance and were wondering why a $4500 limit isn't sufficient, were you transferring a balance or something?" Kind of froze for a second and since she brought up balance transfer I said I was potentially going to transfer a balance then said she would contact underwriting and tell them that and get back to me. Should I of been honest and said I want to product change to their Visa Signature?

It's a pretty small credit union so asking for an increase is a lot different then say Amex or Discover or Synchrony Cards or something.

[tussking]

Since you feel guilty I will help you relieve that notion....How about you look at it this way !

You werent being dishonest you will simply opening a door for a possibility now or down the road.

The more options available to you (US) is always the better scenario !

There is nothing wrong in what you said or did !

GL !

[Anonymous]

Why do you want the Visa Sig? Many of us chase the next goal without really asking why we're doing it. Perhaps once you can answer why you want it, you'll be better able to figure out the answer to your question.

[pizza1]

Im usually dead honest when dealing with lenders. They ask why, I tell them. They don't like the answer...they don't have to give it.

I can understand how you would have been caught off guard, and just "said something".. Hope you get the upgrade!

[joltdude]

Im taking this little tidbit with a grain of salt.. But so far there seems to be a bit of truth... Banker at local CU said something about how 5K will open doors once your history is established... Yeah its arbitrary..... and they do not even offer a Sig card at this CU..... And theres a hint of truth to high limits beget high limits.... 

Not going to argue.. A CU that wouldnt talk to me, as well as the bank I was using pre-CU card both have been throwing prequalified offers for a card.. Oddly enough im not interested in either product =)

its also a bit of a psychological thing.. like prices of 19.95-19.99 are percieved as more value than 20$>... Think it even effects human UW's to some extent.. 

Think its in your best interest to get the 500... even if its just burnishing and gold plating.... =)

-J

[Anonymous]

I'm usually pretty honest about these things but I don't think you telling them this will 'hurt' you..