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U.S. Bank CLI

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Venom911
Valued Member

U.S. Bank CLI

Recently, I called US Bank EO office to request CLI for my cash+ Visa Signature since I don't have the link for it in my account. My SL was $1000, and I asked for $6000. They approved me for $3000. I received a mail few days later explaining why they gave me 3K instead of 6K and the reason was " Maximum amount of unsecured credit already issued " .. Does anyone have any idea what this means exactly?


EXP 744 TU 751 EQ 744 TCL=$26,300
Message 1 of 20
19 REPLIES 19
AverageJoesCredit
Legendary Contributor

Re: U.S. Bank CLI

Sounds like the max they are willing to extend in credit at this time for you.
Message 2 of 20
Anonymous
Not applicable

Re: U.S. Bank CLI

Basically, they are saying you already have quite a bit of credit from other companies and are being conservative in their approach by giving you a little less than you asked for.  Lenders usually do this if your income isn't sufficient in relation to your credit limits not just with them but also with other lenders [1], you have a young credit file [2], amongst others.

 

If you don't mind me asking, how old is your file and how many cards do you currently have?

 

 

 

Message 3 of 20
Venom911
Valued Member

Re: U.S. Bank CLI

My file is 2 years old, I have 5 CC, 3 store cards (check my signature)


EXP 744 TU 751 EQ 744 TCL=$26,300
Message 4 of 20
Anonymous
Not applicable

Re: U.S. Bank CLI

US Bank flagged me with the same type of note and reduced my total credit with them by $10,000. Now it is not the end of the world but they approved me for all the credit to start with. Seems they felt at risk.
Message 5 of 20
Shadowfactor
Valued Contributor

Re: U.S. Bank CLI

How soon can you request a CLI on a new account with US bank?

How long did you wait to request a CLI with them ?




Total Revolving Limits $254,800

Message 6 of 20
Venom911
Valued Member

Re: U.S. Bank CLI

I read on the forum that the link for CLI will appear when u r eligible for one but it never appeared for me. I opened the cc in April 2017 and requested cli in November 2017. What made wait that long was that I was waiting for the online link, but I couldn't do it any more. So a safe bet would be after 6 months

EXP 744 TU 751 EQ 744 TCL=$26,300
Message 7 of 20
Anonymous
Not applicable

Re: U.S. Bank CLI


@Venom911 wrote:

Recently, I called US Bank EO office to request CLI for my cash+ Visa Signature since I don't have the link for it in my account. My SL was $1000, and I asked for $6000. They approved me for $3000. I received a mail few days later explaining why they gave me 3K instead of 6K and the reason was " Maximum amount of unsecured credit already issued " .. Does anyone have any idea what this means exactly?


@Venom911 I did the same thing and haven't heard anything yet. You say a few days, was this recently?

Message 8 of 20
Kforce
Valued Contributor

Re: U.S. Bank CLI


@Anonymous wrote:

Basically, they are saying you already have quite a bit of credit from other companies and are being conservative in their approach by giving you a little less than you asked for.  Lenders usually do this if your income isn't sufficient in relation to your credit limits not just with them but also with other lenders [1], you have a young credit file [2], amongst others. 


+1,  My best guess.

I understand that most want a high CL, however keep in mind that this is a capped 5% in 2 category card and most card users spend < $1000 a month on the card. If you are trying to control "Util", a fact to know about US-Bank is that they report your balance at the end of each month, on the 1st or 2nd of the next month, regardless of what reports on your statement date. Another nice fact is they will wright-off 99 cents balance at statement cut time (almost 1$ a month free).

Message 9 of 20
Venom911
Valued Member

Re: U.S. Bank CLI

I called the EO office on Friday and I got the news on Tuesday and a mail on following Friday

EXP 744 TU 751 EQ 744 TCL=$26,300
Message 10 of 20
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