USAA CL increase

[Anonymous]

Does anyone have any experience with USAA CL increases.  I got a USAA MC World card in Jan. 2010 with a CL of $ 15k.  My current balance is $ 11.7K.

My current scores are EQ- 739, TU- 735, EX?? ( FAKO) Plus- 712.  My CC utilization is 59%.

I have roughly two to three Inquiries in the last two years.

Any thoughts on my chances of getting a CL increase, and how much I might get, or should I apply for the USAA Amex instead?

[score_building]

Almost maxed out, ideally get UTI under better control before CLI request or app...

or there is v. little incentive to lend more.

If there is not enough evidence that one can handle repayment of what's already owed,

before asking for more, an applicant may look desperate to the lender.

[Anonymous]

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@Anonymous wrote:

Does anyone have any experience with USAA CL increases.  I got a USAA MC World card in Jan. 2010 with a CL of $ 15k.  My current balance is $ 11.7K.

My current scores are EQ- 739, TU- 735, EX?? ( FAKO) Plus- 712.  My CC utilization is 59%.

I have roughly two to three Inquiries in the last two years.

Any thoughts on my chances of getting a CL increase, and how much I might get, or should I apply for the USAA Amex instead?

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No harm in trying for a CLI.  If you've had the card at least 6 months, you can request a CLI.  They do not do a hard pull usually.

[Anonymous]

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@Anonymous wrote:

Does anyone have any experience with USAA CL increases.  I got a USAA MC World card in Jan. 2010 with a CL of $ 15k.  My current balance is $ 11.7K.

My current scores are EQ- 739, TU- 735, EX?? ( FAKO) Plus- 712.  My CC utilization is 59%.

I have roughly two to three Inquiries in the last two years.

Any thoughts on my chances of getting a CL increase, and how much I might get, or should I apply for the USAA Amex instead?

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Hi cpacfp,

Most folks recommend getting your utilization down before asking for a CLI, or apping for a new product.  Especially on such a young card.  Any way you can PIF this card or get the utilitization down - maybe even to 9%?

The unfortunate truth is that it's best to apply for credit when you don't need to use it!

Your current scores are pretty nice, though, so scorewise you should be in decent shape.

FICOwise, and to be financially savvy, it's best to avoid carrying balances on cards.  May seem counter-intuitive to some, but CL's are best unused - at least when it comes to carrying balances.  Use away during the month, but try to report a zero to small balance monthly.  What's causing you to carry an $11,000 balance?  Are you looking at the CLI to correct your utilization or are you hoping to carry an even higher balance?  Sorry to ask so many questions - but the more info you can give us, the more helpful responses you'll be able to receive.  Would it work better for you to take out a loan for this type of balance rather than carry it on your cards?

[Anonymous]

thanks, beamer. No worries on the questions.  I am in commission sales and last few months have been a little lean.

Since my last post, I came into some cash from new employer.  Its enough to pay off all CCs, except it is structured as a loan and if I leave the company within a few years I pay back whatever I haven't earned.

Should I go ahead and take that money and pay off the CCs and then if I leave just advance on CCs to pay the debt back?

At least in the mean time my ficos would go up.

Also, in the mean time if home value goes up I can try refi cash out to pay off the loan and or CCs.

Do you know if they include a Heloc in revolving utilization, because they do include it in total revolving, but on the utilization page it is not included??