What does Citi like to see for CLI?

[FalconSteve]

My wife has a Citi Double Cash card that we use as our primary non-category card and this Christmas season has resulted in a lot of spend on that card. I've even had to make multiple payments. She only got the card in February and our spend until the last few months was so-so, so I'm not shocked that she hasn't gotten an increase yet, but I want to optimize our chances.

Paying interest is out of the question. However, I want to know if I should let a balance post at the end of the month or should I be continuing to pay it before the statement generates? If I leave a balance, should I be shooting for 1%, 5%, 10%, 30%, or another ratio of the credit line to make them happy?

She has a perfect payment history with this and her scores vary between high 700s and low 800s (Although I think I read that Citi uses their own model).

[FinStar]

There is no requirement to pay any interest in order to obtain or qualify for a CLI. With Citi, there really isn't an actual benchmark, formula or ratio for letting balances report so no need to rationalize a computation to see "what makes them happy." 

Usage is definitely factored so if you and DW are frequently using the card, those chances improve considerably.  It's profile driven and Citi tends to SP frequently so just keep checking her account to see if it qualifies for a SP CLI.  Not sure if you both have checked it recently?

[thornback]

Citi seems to care more about recent inquiries and new accounts (# in the last 6 mos) than anything else. DTI is also a factor.  They don't care whether or not you allow their balances to report.

Have you requested a CLI or waiting for an auto CLI?  If waiting for an auto - don't, you can request one every 180 days.  If you requested but were denied, what were the reasons given for denial?

Their CLIs are often soft pulls -- they'll advise before you proceed with the request  if a hard pull is required for some reason. 

[wasCB14]

They took me from $8k to $16k on Prestige when I called once after having $5k post on a statement. Always PIF.

[FalconSteve]

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@thornback wrote:

Citi seems to care more about recent inquiries and new accounts (# in the last 6 mos) than anything else. DTI is also a factor.  They don't care whether or not you allow their balances to report.

Have you requested a CLI or waiting for an auto CLI?  If waiting for an auto - don't, you can request one every 180 days.  If you requested but were denied, what were the reasons given for denial?

Their CLIs are often soft pulls -- they'll advise before you proceed with the request  if a hard pull is required for some reason. 

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Good to know that they don't seem to care about balances reporting. I haven't waited for auto-CLI (TD Bank is killing me with the REDcard making me wait for one) and we've been requesting ~2 months.

Unfortunately, I did add her as an AU to my new AmEx, so that will show up as a new account in the next few month... oops. I guess may have just reset the 6 month clock. Oh, well. It's not like we can't get by with the current limit.

I'll have to check what reason(s) they gave for the CLI denial on previous letters, although I vaguely remember them not making a lor of sense (like they picked random reasons that had nothing to do with her profile).

Thank you

[FalconSteve]

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@FinStar wrote:

There is no requirement to pay any interest in order to obtain or qualify for a CLI. With Citi, there really isn't an actual benchmark, formula or ratio for letting balances report so no need to rationalize a computation to see "what makes them happy." 

Usage is definitely factored so if you and DW are frequently using the card, those chances improve considerably.  It's profile driven and Citi tends to SP frequently so just keep checking her account to see if it qualifies for a SP CLI.  Not sure if you both have checked it recently?

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We tend to check it ~ever 2 statements, but we may do it monthly until my new AmEx shows up on her profile. Thanks for the info

[FinStar]

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@FalconSteve wrote:

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@FinStar wrote:

There is no requirement to pay any interest in order to obtain or qualify for a CLI. With Citi, there really isn't an actual benchmark, formula or ratio for letting balances report so no need to rationalize a computation to see "what makes them happy." 

Usage is definitely factored so if you and DW are frequently using the card, those chances improve considerably.  It's profile driven and Citi tends to SP frequently so just keep checking her account to see if it qualifies for a SP CLI.  Not sure if you both have checked it recently?

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We tend to check it ~ever 2 statements, but we may do it monthly until my new AmEx shows up on her profile. Thanks for the info

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Sure.  Just keep trying as long as it's SP, it doesn't reset the clock.  Only when the CLI is approved.

[thornback]

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@FalconSteve wrote:

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Good to know that they don't seem to care about balances reporting. I haven't waited for auto-CLI (TD Bank is killing me with the REDcard making me wait for one) and we've been requesting ~2 months.

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haha... I've been waiting for TD to give me an auto CLI on my TD Cash card for 3+ years now...  I've been refusing to take the HP for it because I don't need a CLI on that card, I just want one.

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@FalconSteve wrote:...and we've been requesting ~2 months.  Unfortunately, I did add her as an AU to my new AmEx, so that will show up as a new account in the next few month... oops. I guess may have just reset the 6 month clock.

The new amex won't reset the 6 month clock.   What I meant by new accounts/inquiries was that a common denial reason for them is too many new accounts/inquiries in the last 6 months -- but that's for folks with multiple new account or new inquiries (like 3+) - -not just a single new account/inquiry.

After ~9 months of having the card, and no derogatories on her report,  I don't have any good guesses as to why they've been denying a CLI. 

Is her file young and/or thin? Limited credit/loans in her name perhaps?

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[FalconSteve]

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@thornback wrote:

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The new amex won't reset the 6 month clock.   What I meant by new accounts/inquiries was that a common denial reason for them is too many new accounts/inquiries in the last 6 months -- but that's for folks with multiple new account or new inquiries (like 3+) - -not just a single new account/inquiry.

After ~9 months of having the card, and no derogatories on her report,  I don't have any good guesses as to why they've been denying a CLI. 

Is her file young and/or thin? Limited credit/loans in her name perhaps?

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Cool (that a single new account doesn't totally reset the clock). I assume the "human malware" going around the planet might have them being a bit more cautious. There were some other new accounts in January and February, so that explains why they didn't back then, just nothing recent.

Also, neither of us have any non-revolving accounts (no auto loans, no mortgage). We were planning on buying a house before 2020 happened.

It's not shocking that they haven't given one, I just want to make sure we're maximizing our chances.

[Anonymous]

I feel like what lenders "like to see" is pretty standard across the board generally speaking.  Heavy spend relative to limit and paying it off monthly overall is the recipe for greatest CLI success as a blanket statement to cover the vast majority out there.