US Bank CLI question

[Anonymous]

So I called into the CSR and product changed my College Visa into the Cash Rewards (future goal of getting cash plus, need to raise the limit first)

Do I apply for a CLI now or wait? Wasn't sure if it would matter that I did a PC. I asked over the phone about a APR reduction or a SP CLI increase and I was told to I should apply online. Should I try again tomorrow to see if I can get a SP CLI, try a backdoor number, or just go for the HP before the PC?

Thanks

[FinStar]

You would need a minimum of $5K to qualify for the Cash+, and if you've recently PC'd, not sure how soon you'd be elegible for the conversion.  You could potentially see if you qualify for a SP CLI, but it's doubtful (these are often targeted).  Otherwise, you can try your luck and see if a CLI is in order but be aware it will be HP.

[Anonymous]

Right , the whole purpose of trying to get the CLI is to get to the $5k limit for the Visa Sig Cash+.

Should I call the frontline CSR's or try backdoor for the SP? I may just bite the bullet and go for a hardpull, no plans to apply for anything else soon. Just didn't want to open a new account if I could PC and get to a cash+ within a few months. My scores are good (748 TU and 765 Exp last I checked), not a ton of income as a college student though.

Hopefully my banking relationship with them helps, as well as getting my two of my first three credit cards with them.

[FinStar]

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@Anonymous wrote:

Right , the whole purpose of trying to get the CLI is to get to the $5k limit for the Visa Sig Cash+.

Should I call the frontline CSR's or try backdoor for the SP? I may just bite the bullet and go for a hardpull, no plans to apply for anything else soon. Just didn't want to open a new account if I could PC and get to a cash+ within a few months. My scores are good (748 TU and 765 Exp last I checked), not a ton of income as a college student though.

Hopefully my banking relationship with them helps, as well as getting my two of my first three credit cards with them.

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You can try either or.  They would be able to see if you're elegible (again unlikely but you're welcome to try).  If you're not concerned with the HP, then just submit for the CLI.  Just be aware that your income, overall CR profile (plus other factors) will determine the outcome. 

[fedxboy]

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@Anonymous wrote:

Right , the whole purpose of trying to get the CLI is to get to the $5k limit for the Visa Sig Cash+.

Should I call the frontline CSR's or try backdoor for the SP? I may just bite the bullet and go for a hardpull, no plans to apply for anything else soon. Just didn't want to open a new account if I could PC and get to a cash+ within a few months. My scores are good (748 TU and 765 Exp last I checked), not a ton of income as a college student though.

Hopefully my banking relationship with them helps, as well as getting my two of my first three credit cards with them.

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I think US Bank required at least a 30k income for the Cash+ card, if I recall correctly from my pre-approved app they sent me for this card back in 2013.  I have the regular Cash card too, opened in 2011 with a 3.5k limit.  Just yesterday, after 4 years they sent me that SP Cli letter in the mail that Finstar spoke of and I got an increase to 7.5k!!   I've also banked with them since 2005.

As for the Cash+ Sig Visa, they gave me a SL of 6k and within the year, that SP Cli letter already came and they increased it by 4k to 10k

I think you're on the right path, but just give it some more time!  They manually review everything.  Good Luck

[takeshi74]

PC shouldn't matter for a CLI.  We can't tell you whether you should apply for a CLI or not.  Credit and income determine what limit one qualifies for.  Whether you'll get a CLI or not all depends on whether or not there's headroom for a CLI or if your credit improved enough for US Bank's underwriting criteria.  Expect an HP if you submit online.  Not sure about calling in but you can certainly inquire about a CLI with an SP.

[Anonymous]

I was trying to figure who would be best to call to try get a CLI without a HP.

I was approved over the weekend for a WMC with Barclays for $6.3k with no prior relationship with them. Hopefully U.S. bank feels the same way if I don't get/have a SP and decide to go the HP route.

[Ghoshida]

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@Anonymous wrote:
I was trying to figure who would be best to call to try get a CLI without a HP.

I was approved over the weekend for a WMC with Barclays for $6.3k with no prior relationship with them. Hopefully U.S. bank feels the same way if I don't get have a SP and decide to go the HP route.

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There's an online link to apply for US Bank CLI. Check this link: http://ficoforums.myfico.com/t5/Credit-Cards/US-Bank-credit-limit-increase-web-site/td-p/1880787

I've got success in asking for 1.5k / 2k CLIs and got them without an HP. If you ask for small amounts, you'll get them (given your credit profile qualifies) without an HP. However, you need to wait 6 months between CLIs (at least with SPs) so for you to go to 5k, it'll be at least 2 tries and about 6 months wait, with the first one being now.

[Anonymous]

See post #3 and let me know what you think/if I compare with you.

I'm a student but I'll have around 20k net income this year, and have had a checking and savings for a handful of years with them as well.

edit:

I'm opted of our mail offers and such, would I get a notification online then if I was eligble for an CLI increase in the future?