Time of Year for CLI

[Anonymous]

Does it matter what the season is when I request a CLI? e.g., are they stingier in January when more people are requesting due to Christmas shopping bills? I suspect I'm reading into things a little too much, but that's why I'm asking here. Thanks!

[UpperNwGuy]

I think the time of your own finances is more important than the time of year.

[Anonymous]

What kind of answer is that?

[UpperNwGuy]

Before asking for a CLI, a person should review their own credit score trends, their utilization rate, whether or not they are carrying a balance, whether or not their income has grown, and other factors.

[pizza1]

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@Anonymous wrote:

Does it matter what the season is when I request a CLI? e.g., are they stingier in January when more people are requesting due to Christmas shopping bills? I suspect I'm reading into things a little too much, but that's why I'm asking here. Thanks!

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It really depends on the cards you're wanting to request from.  If its store cards, they tend to be a little more lienient and give CLI's during the major shopping times of the year like July 4th, Labor Day, and Black Friday/Christmas shopping. If its a major card, I would think it would depend  still on if your card is eligible for an increase, no matter if its the holiday season or not. 

Ive tested this theory multiple times, with store cards vs majors, and my store cards always got a CLI around the holidays, where as my majors only really got one if "it was time for one".....Discover (every 91 days), Citi (6mo), Navy (6 mo), etc...

As one poster has said, it does also depend on what your reports look like too. Just becuase its the "holiday season" doesnt necessarily mean the card youre wanting a CLI from is in the "holiday giving spirit".   If youre at a high overall util reporting, they might not want to increase that, but as always YMMV.   Which card(s), were you looking for a CLI on this season? 

[Anonymous]

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@pizza1 wrote:

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@Anonymous wrote:

Does it matter what the season is when I request a CLI? e.g., are they stingier in January when more people are requesting due to Christmas shopping bills? I suspect I'm reading into things a little too much, but that's why I'm asking here. Thanks!

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It really depends on the cards you're wanting to request from.  If its store cards, they tend to be a little more lienient and give CLI's during the major shopping times of the year like July 4th, Labor Day, and Black Friday/Christmas shopping. If its a major card, I would think it would depend  still on if your card is eligible for an increase, no matter if its the holiday season or not. 

Ive tested this theory multiple times, with store cards vs majors, and my store cards always got a CLI around the holidays, where as my majors only really got one if "it was time for one".....Discover (every 91 days), Citi (6mo), Navy (6 mo), etc...

As one poster has said, it does also depend on what your reports look like too. Just becuase its the "holiday season" doesnt necessarily mean the card youre wanting a CLI from is in the "holiday giving spirit".   If youre at a high overall util reporting, they might not want to increase that, but as always YMMV.   Which card(s), were you looking for a CLI on this season? 

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Thanks for your extensive post!

I was planning to request a CLI from BofA before the end of the year so that I could plan to garden for all of 2018. (I was also considering Chase, but I'm focusing my spending on BofA since I think an HP is likely to be more worthwhile with them than Chase.) I PIF, let util report at 1%, etc, so I'm mainly looking to grow my profile.

I was originally more concerned about lenders being less giving during that time of the year since more people may be requesting CLI's than usual. I don't have much interest in store cards at the moment, but comparing the two is interesting!

[pizza1]

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@Anonymous wrote:

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@pizza1 wrote:

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@Anonymous wrote:

Does it matter what the season is when I request a CLI? e.g., are they stingier in January when more people are requesting due to Christmas shopping bills? I suspect I'm reading into things a little too much, but that's why I'm asking here. Thanks!

---

It really depends on the cards you're wanting to request from.  If its store cards, they tend to be a little more lienient and give CLI's during the major shopping times of the year like July 4th, Labor Day, and Black Friday/Christmas shopping. If its a major card, I would think it would depend  still on if your card is eligible for an increase, no matter if its the holiday season or not. 

Ive tested this theory multiple times, with store cards vs majors, and my store cards always got a CLI around the holidays, where as my majors only really got one if "it was time for one".....Discover (every 91 days), Citi (6mo), Navy (6 mo), etc...

As one poster has said, it does also depend on what your reports look like too. Just becuase its the "holiday season" doesnt necessarily mean the card youre wanting a CLI from is in the "holiday giving spirit".   If youre at a high overall util reporting, they might not want to increase that, but as always YMMV.   Which card(s), were you looking for a CLI on this season? 

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Thanks for your extensive post!

I was planning to request a CLI from BofA before the end of the year so that I could plan to garden for all of 2018. (I was also considering Chase, but I'm focusing my spending on BofA since I think an HP is likely to be more worthwhile with them than Chase.) I PIF, let util report at 1%, etc, so I'm mainly looking to grow my profile.

I was originally more concerned about lenders being less giving during that time of the year since more people may be requesting CLI's than usual. I don't have much interest in store cards at the moment, but comparing the two is interesting!

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I dont think they are less giving, I think they would be more giving because traffic on their card would increase during that time, which means more swipes fees and more money to them. I agree with asking BOFA, vs Chase( HP for maybe $500+, lol), vs BOFA who is known to give decent CLI's increases with a HP. Id think they would be inclined to give you more when asked. Good luck and let us knwo the outcome when its time!

[Appleman]

Over the past years people have reported that they were given or requested increases around major holidays and were rewarded.

However, if anything dings the economy or we have a major politcal issue, I forsee the credit markets shrinking. The economy goes in the tank and we will see a lot of lenders trying to limit their exposure. Right now BofA sounds like your favorite but I advise not putting all of your eggs in one basket.

[kdm31091]

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@Appleman wrote:

Over the past years people have reported that they were given or requested increases around major holidays and were rewarded.

However, if anything dings the economy or we have a major politcal issue, I forsee the credit markets shrinking. The economy goes in the tank and we will see a lot of lenders trying to limit their exposure. Right now BofA sounds like your favorite but I advise not putting all of your eggs in one basket.

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This, don't put all your eggs in one basket. I agree with your theory, though, OP, that generally BOA is more worth taking the HP with for a CLI vs Chase.

As far as your thread's question, I think for the most part, you're reading too much into it. If you profile, scores, etc support a CLI, BOA is usually not stingy, regardless of time of year. While time of year may be a small factor (i.e. lenders possibly could be more generous around the holidays, although it could also be coincidence), it's not something I would say is a major factor at all.

[SOGGIE]

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@kdm31091 wrote:

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@Appleman wrote:

Over the past years people have reported that they were given or requested increases around major holidays and were rewarded.

However, if anything dings the economy or we have a major politcal issue, I forsee the credit markets shrinking. The economy goes in the tank and we will see a lot of lenders trying to limit their exposure. Right now BofA sounds like your favorite but I advise not putting all of your eggs in one basket.

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This, don't put all your eggs in one basket. I agree with your theory, though, OP, that generally BOA is more worth taking the HP with for a CLI vs Chase.

As far as your thread's question, I think for the most part, you're reading too much into it. If you profile, scores, etc support a CLI, BOA is usually not stingy, regardless of time of year. While time of year may be a small factor (i.e. lenders possibly could be more generous around the holidays, although it could also be coincidence), it's not something I would say is a major factor at all.

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