@nma851 wrote:
@Anonymous wrote:
What about having multiple CLIs plus other CLIs on other cards in a short period of time, is there a chance of any isues?
You make one heck of a good point. IMO, this rapid CLI buildup is no different than opening multiple accounts. Reason being? There's no experience with this amount of line either way you look at it. In some way, shape, or form, it's adding additional available credit to the profile. Sure we may have another account matching or even exceeding the increased line, but there isn't any experience with the "additional". Granted as well, length of history plays a relatively large factor in higher lines too, even if income supports it. 2 decades of positive payments demonstrates, at least in my case, that in addition to my income, I have the ability & capability to responsibly use it.
As inferred in your reply as well, it's all all about that good ol risk/reward fine line of finance. And nope - I claim no knowledge at any level other than the school of hard knocks (and MyFico school of Multi-faceted approach to teaching. At some point we all become a "higher risk" and that's it with the lender, justifiably so. Even though we may have the means, this may not be an acceptable amount of exposure for a given lender and AA happens as a result thereof. I suppose once the CLIs become smaller or none at all, and the citation references "maximum exposure", I would start thinking about how to maximize what I have so to speak.
Then again I could be totally off base here!
I was just thinking from the other side of the table, you know? I know what I am capable of affording. I could have done the 25k CLI request for sams (formerly $1200) and amazon (formerly $800) and countered, but instead I chose a CL that would reflect a 20-30% util for a big ticket item w/ special promotion and nothing more. Who needs a $15,000 amazon CL for non business use anyway?
But the fact remains, none of us know what could happen tomorrow. Who knows if some catastrophe happens, or whatever. I am just concerned that up until december, I only had carecredit, credit one, buckle, and commerce bank ($9,900 total CL). My application for sams visa was such a stupid impulse thing (and only for a $100 promo that I didnt even get approved for). My point is, I have basically tripled everything in 6 months, and don't want to raise any flags.
The only reason I am even using all these cards is to increase my score. But they are definitely the missing puzzle piece to my extreme couponing.
