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Tomo Card CLI Denial

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IcyCool7227
Regular Contributor

Tomo Card CLI Denial

I have had this Tomo card since March 24th of last year. So I had 8 missed payments with the last one being on December 4th last year. That weekly payment schedule sucks as it takes money out of accounts where I don't always remember it debits every week unlike a traditional credit card. I always had enough funds but Tomo only analyzes like 2 accounts for sufficient funds then goes into frozen mode until I pay manually to unfreeze it.


I finally had 12 weeks of reliable weekly payments to submit a credit increase and heard back today. It took from Feb. 11th to now to hear back which is ridiculous considering other creditors usually grant a decision immediately. I got this email:

 

Hi (my name),

 

After careful review of your Spending Power Increase Request, we regret to inform you that we will be unable to grant you an increase at this time.
 
As you continue to use your Tomo Card responsibly and pay it off consistently, you may be eligible for an increase at a later date.
 
You can view your eligibility to request one in the settings menu of your TomoCredit dashboard.

 

Sincerely,

Support@Tomo

 

When my credit score is better to apply for a better card, I will MOST definitely be closing this Tomo thing. I really hate it but am only continuing with it until my score is better. I'm stuck at a measly $250 limit. The one good thing I did get approved for a credit increase of $500 from $2500 to 3k with my Amazon Prime Store Card which of course was an instantaneous decision. I don't understand why after 12 weeks of reliable payment history that they denied my credit increase but it's only a matter of time before I'm tossing it for good. Felt good to vent to get the frustration off my mind! 

As of: 7/1/24
EQ: 781
prev. 785 on 3/28/24. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 752 (prev. 761 on 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $3,000
- Chase Freedom Flex: $500
- Discover it Cashback: $2,600
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
Message 1 of 14
13 REPLIES 13
Jnbmom
Credit Mentor

Re: Tomo Card CLI Denial

Tomo card you have to pay it every 7 days correct ?

 

If you missed 8 payments why are you surprised they denied a CLI?

EXP 780 EQ 798 TU 804
Message 2 of 14
IcyCool7227
Regular Contributor

Re: Tomo Card CLI Denial

Yes you have to pay it every 7 days. The reviews online that cite after awhile that Tomo goes to a monthly cycle is false. The reason I'm surprised is that after 12 weeks and the additional 4 weeks afterwards of on time payments that they rejected the increase. All those missed payments were from last year so it shouldn't have been a factor into how I'm doing now.

As of: 7/1/24
EQ: 781
prev. 785 on 3/28/24. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 752 (prev. 761 on 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $3,000
- Chase Freedom Flex: $500
- Discover it Cashback: $2,600
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
Message 3 of 14
Jnbmom
Credit Mentor

Re: Tomo Card CLI Denial


@IcyCool7227 wrote:

Yes you have to pay it every 7 days. The reviews online that cite after awhile that Tomo goes to a monthly cycle is false. The reason I'm surprised is that after 12 weeks and the additional 4 weeks afterwards of on time payments that they rejected the increase. All those missed payments were from last year so it shouldn't have been a factor into how I'm doing now.


Those missed payments are considered recent I am sure, you mentioned your last one was Dec 4.

EXP 780 EQ 798 TU 804
Message 4 of 14
FireMedic1
Community Leader
Mega Contributor

Re: Tomo Card CLI Denial

This in a way this falls under EX's Boost type reporting. Isnt worth it. Drop it. Use your cards. Get CB and pay your bills on a monthly basis. So many headaches and weekly stress whats going to be taken out of my account. It will help with billing responsibility.


Message 5 of 14
SouthJamaica
Mega Contributor

Re: Tomo Card CLI Denial


@IcyCool7227 wrote:

I have had this Tomo card since March 24th of last year. So I had 8 missed payments with the last one being on December 4th last year. That weekly payment schedule sucks as it takes money out of accounts where I don't always remember it debits every week unlike a traditional credit card. I always had enough funds but Tomo only analyzes like 2 accounts for sufficient funds then goes into frozen mode until I pay manually to unfreeze it.


I finally had 12 weeks of reliable weekly payments to submit a credit increase and heard back today. It took from Feb. 11th to now to hear back which is ridiculous considering other creditors usually grant a decision immediately. I got this email:

 

Hi (my name),

 

After careful review of your Spending Power Increase Request, we regret to inform you that we will be unable to grant you an increase at this time.
 
As you continue to use your Tomo Card responsibly and pay it off consistently, you may be eligible for an increase at a later date.
 
You can view your eligibility to request one in the settings menu of your TomoCredit dashboard.

 

Sincerely,

Support@Tomo

 

When my credit score is better to apply for a better card, I will MOST definitely be closing this Tomo thing. I really hate it but am only continuing with it until my score is better. I'm stuck at a measly $250 limit. The one good thing I did get approved for a credit increase of $500 from $2500 to 3k with my Amazon Prime Store Card which of course was an instantaneous decision. I don't understand why after 12 weeks of reliable payment history that they denied my credit increase but it's only a matter of time before I'm tossing it for good. Felt good to vent to get the frustration off my mind! 


I believe you should ask a moderator to move this thread to "Credit Cards".

 

I think you should close this Tomo account before it does any more damage.


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 708 TU 714 EX 715

Message 6 of 14
IcyCool7227
Regular Contributor

Re: Tomo Card CLI Denial

CB? Meaning cashback?

As of: 7/1/24
EQ: 781
prev. 785 on 3/28/24. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 752 (prev. 761 on 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $3,000
- Chase Freedom Flex: $500
- Discover it Cashback: $2,600
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
Message 7 of 14
ptatohed
Valued Contributor

Re: Tomo Card CLI Denial

https://tomocredit.com/

 

 

 

 

NEVER MISS A PAYMENT

Build your credit the smart way.

Not only does Tomo report to all 3 major credit bureaus but we are the first card to offer expedited weekly payments. Always pay on time and watch your credit score grow!

5% CB rotating: ;
Everyday 3% CB: ;
Everyday 5%: ;
Companion Card: ;
Everyday 2.2% CB: ;
Retired to sock drawer after AOD (kept alive w/ 1 purchase every 6 mo): ;
On my radar: ;
Still Waiting for an Invite: ;
No hope:
Message 8 of 14
OmarGB9
Community Leader
Super Contributor

Re: Tomo Card CLI Denial


@Jnbmom wrote:

@IcyCool7227 wrote:

Yes you have to pay it every 7 days. The reviews online that cite after awhile that Tomo goes to a monthly cycle is false. The reason I'm surprised is that after 12 weeks and the additional 4 weeks afterwards of on time payments that they rejected the increase. All those missed payments were from last year so it shouldn't have been a factor into how I'm doing now.


Those missed payments are considered recent I am sure, you mentioned your last one was Dec 4.


This. 8 missed weekly payments. Definitely not going to be rewarded with a CLI after that. 


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 9 of 14
Lou-natic
Established Contributor

Re: Tomo Card CLI Denial


@FireMedic1 wrote:

This in a way this falls under EX's Boost type reporting. Isnt worth it. Drop it. Use your cards. Get CB and pay your bills on a monthly basis. So many headaches and weekly stress whats going to be taken out of my account. It will help with billing responsibility.


And here I am paying all my credit cards off weekly on purpose...Means I never have "extra money" that I can decide to spend frivolously.

Honestly to me it seems like a better way to do it. Accounting is much easier for me anyway.

 

I don't know OP's situation but it seems to me like he still has a habit of thinking of the charge card as "extra money" when that is exactly the trap that gets people in trouble. I'm not surprised he wasn't granted a CLI and honestly don't know why he is either. 3 months of being a "good boy" is nothing in the credit world where it takes 7 years (or more) for derogatory accounts to fall off.




3/3/24
Message 10 of 14
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