When should I request this CLI

[SRT4kid93]

I got a card 9/18/2023, they require that I have the card for 1 year before getting a CLI.

now that the calendar has hit September, does that qualify as 1 year? Or should I wait until the exact date the card was issued?

[MileHigh96]

To be safe, I would wait until AT LEAST the 19th of this month before requesting.

[NoMoreE46]

The one year may be counted from the statement ending date vs the open date.   Best to call the issuer to ask.

[pizzadude]

Who is the creditor ?

[Anonymous]

The questions I would ask myself are

Do they mean from approved date?

Do they mean from first report date?

Do they mean from first statement closing date?

Personally, I usually err on the side of caution and actually would not ask myself those questions. I would just wait until the 12th statement closing (or longer) before requesting an "after one year" CLI

[SRT4kid93]

Creditor is credit one, my plan was to add an Amex and 1 other card to my collection before closing this card so that my profile wouldn't become too thin. But if they don't grant me a CLI at the 1 year mark I'm considering just closing the card now 

[NoMoreE46]

What are the other cards that you have now?

I'd be leaning towards closing this Credit One card if you really dont need it.  

[SRT4kid93]

Savor one and chase freedom unlimited. But the credit one is my longest standing card, and has the most positive payment history. The other 2 cards are brand new and haven't even generated on my credit report yet 

[Anonymous]

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@SRT4kid93 wrote:

Savor one and chase freedom unlimited. But the credit one is my longest standing card, and has the most positive payment history. The other 2 cards are brand new and haven't even generated on my credit report yet 

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@SRT4kid93 wrote:

Creditor is credit one, my plan was to add an Amex and 1 other card to my collection before closing this card so that my profile wouldn't become too thin. But if they don't grant me a CLI at the 1 year mark I'm considering just closing the card now 

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You have the new SavorOne and the Freedom. The Credit One has served it's purpose. Time to close it and not pay them another dime.

And to quote replies from the first post you made on the forum.

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@Horseshoez wrote:

Join a credit union and then in quick succession, apply for a CapOne card, a Discover card, and a card from the credit union of your choice.  My bet is you'll get approved for two out of three, possibly all three.  With your new cards in hand, close your Credit One accounts and say, "Good riddance."

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@Horseshoez wrote:

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@SRT4kid93 wrote:

and closing my credit one card would still close my oldest and longest standing account killing my length of credit history. 

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In order:

• Credit unions often offer higher credit limits than other financial institutions; NFCU is known to especially generous
• A few hard pulls will sting you for a few points, but your scores will recover pretty quickly
• Closing your Credit One will not do anything to your age of your oldest account, it will continue to report for up to 10-years
• I wouldn't bother keeping the account open, just close it and say goodbye

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@FicoMike0 wrote:
I would hold on to the present card until you get another. Then, move on.

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@SRT4kid93 wrote:

but they are also known to be terrible and have ridiculous fees. They used to charge a fee to raise your credit limit. There's the $75 annual fee, and the fee every time you make a payment. And if you don't pay the fee, it takes forever to process your payment. 

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@FicoMike0 wrote:

That's all pretty crazy! Now that you have capone, I'd go ahead and close that vampire account.

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[SRT4kid93]

Yes I know I should close my credit one card and I know it's the right thing to do, but for some reason I have been trying to put it off until I grow my profile a bit more. As closing the card right now would result in about a 20% decrease in total credit.

So I told myself I wanted to open another card before closing the credit one. But since I just opened 2 cards I was going to wait a bit before opening a 3rd. So My original plan was to keep it open another 6-12 months and I figured if I'm going to keep it another 6 months, I might as well see what they will offer me for my 1 year CLI.

in reality I know keeping it open is needed in any way. So I have started heavily considering just closing it now, but I again curiosity got the best of me and I wanted to see what they would offer for my credit limit increase before closing it. Hence why I made this post. Technically I have another month left before my next fee is due so it won't cost me anything to do my little experiment.