When to stop asking for CLI

[simplynoir]

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@Remedios wrote:

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@simplynoir wrote:

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@Gmood1 wrote:
Simple, I just ask until they stop giving.😂😂😂😂

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That or just get an AMEX charge card so you don't have to worry about a CL.

(But seriously I don't know of any other cards where you can run a six digit bill and the creditor won't blink as long as you PIF.)

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More Amex propaganda 

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People like me and @K-in-Boston will have no shame sharing the wisdom and experience of AMEX.

[AverageJoesCredit]

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@Anonymous wrote:

I'm not on who is after or needs a CC with $50K CL, $20 is fine with me. I'm  sure a lender would LOVE to only give you $20, so much easirr to manage then say a 20k lineIdealy the minimum would be at least $10-15K on each just for utlization sake, just to stay under the 29%. Because it would only take about $4K to be over that.

I wouldn't mind one with a $50K CL for that one large emergency just in case, but it's not really feasible for either me or the CC issuer. As it wouldn't be used hardly ever.

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[AverageJoesCredit]

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@imaximous wrote:

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@Remedios wrote:

For me it has nothing to do with income. It has everything to do with how much use cards sees.

I used to ask just for the sake of asking, but then I learned about drawbacks of having too much available credit, so now I'm a bit more selective..

The only exception is Disco. I am going to keep asking till they give again. I may have something to report around the year 2023.

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That's where I've found myself when going over my file with credit analysts. I don't have a lot of cards or a ton of credit ($300k +) compared to many here, but it hurt me on 3 or 4 recons for new cards and CLIs. I was basically denied recons because the analysts felt I had more than enough credit exposure already and many cards with high limits. 

After a while, you also get an idea of what lenders are more sensitive to this than others, so I left those alone and only go after the ones that don't seem to care -- yet.

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300k in credit isnt exactly small fries lol. Im not even close to that but your point is well taken.  Penfed wont even touch me with the credit i do have so for sure lenders will balk

[Peteyglad]

With me it depends on if it is a HP or SP. If it is a HP I don't ask. If it is a SP then I ask whenever I am eligible.  

[imaximous]

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@AverageJoesCredit wrote:

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@imaximous wrote:

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@Remedios wrote:

For me it has nothing to do with income. It has everything to do with how much use cards sees.

I used to ask just for the sake of asking, but then I learned about drawbacks of having too much available credit, so now I'm a bit more selective..

The only exception is Disco. I am going to keep asking till they give again. I may have something to report around the year 2023.

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That's where I've found myself when going over my file with credit analysts. I don't have a lot of cards or a ton of credit ($300k +) compared to many here, but it hurt me on 3 or 4 recons for new cards and CLIs. I was basically denied recons because the analysts felt I had more than enough credit exposure already and many cards with high limits. 

After a while, you also get an idea of what lenders are more sensitive to this than others, so I left those alone and only go after the ones that don't seem to care -- yet.

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300k in credit isnt exactly small fries lol. Im not even close to that but your point is well taken.  Penfed wont even touch me with the credit i do have so for sure lenders will balk

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Penfed is one of those who told me I had enough credit after hitting me twice with a HP for a CLI. I wasn't too thrilled with that and some other stuff. They're on the chopping block. I only have a $20k card from them.

[Anonymous]

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@imaximous wrote:

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@Remedios wrote:

For me it has nothing to do with income. It has everything to do with how much use cards sees.

I used to ask just for the sake of asking, but then I learned about drawbacks of having too much available credit, so now I'm a bit more selective..

The only exception is Disco. I am going to keep asking till they give again. I may have something to report around the year 2023.

---

That's where I've found myself when going over my file with credit analysts. I don't have a lot of cards or a ton of credit ($300k +) compared to many here, but it hurt me on 3 or 4 recons for new cards and CLIs. I was basically denied recons because the analysts felt I had more than enough credit exposure already and many cards with high limits. 

After a while, you also get an idea of what lenders are more sensitive to this than others, so I left those alone and only go after the ones that don't seem to care -- yet.

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Both of you have stirred up something, I know of PenFed, who are the other lenders who are sensitive to this, and when is it that they start getting sensitive? I understand getting accurate DPs for these questions are not possible, but a range/ball park estimate would help.

[simplynoir]

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@Anonymous wrote:

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@imaximous wrote:

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@Remedios wrote:

For me it has nothing to do with income. It has everything to do with how much use cards sees.

I used to ask just for the sake of asking, but then I learned about drawbacks of having too much available credit, so now I'm a bit more selective..

The only exception is Disco. I am going to keep asking till they give again. I may have something to report around the year 2023.

---

That's where I've found myself when going over my file with credit analysts. I don't have a lot of cards or a ton of credit ($300k +) compared to many here, but it hurt me on 3 or 4 recons for new cards and CLIs. I was basically denied recons because the analysts felt I had more than enough credit exposure already and many cards with high limits. 

After a while, you also get an idea of what lenders are more sensitive to this than others, so I left those alone and only go after the ones that don't seem to care -- yet.

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Both of you have stirred up something, I know of PenFed, who are the other lenders who are sensitive to this, and when is it that they start getting sensitive? I understand getting accurate DPs for these questions are not possible, but a range/ball park estimate would help.

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In general I think CUs are more prone to this but that's just my opinion. Off the top of my head First Tech CU is one though. I remember researching into them last year because they have one of the few cards out there with true Chip + Pin priority for overseas use. But the datapoints from what I gathered they are very conservative to deal with and will see any excessive credit accumulated as a negative when considering your app. As for when they start getting iffy it's honestly YMMV. Along with the usual criteria (income, scores, etc.) when processing an app banks/CUs have their own internal risk assessment and who knows what triggers what.

[redpat]

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@simplynoir wrote:

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@Remedios wrote:

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@simplynoir wrote:

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@Gmood1 wrote:
Simple, I just ask until they stop giving.😂😂😂😂

---

That or just get an AMEX charge card so you don't have to worry about a CL.

(But seriously I don't know of any other cards where you can run a six digit bill and the creditor won't blink as long as you PIF.)

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More Amex propaganda 

---

People like me and @K-in-Boston will have no shame sharing the wisdom and experience of AMEX.

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+1 with amex luving amex right now.  I never had a problem with them and I put some big purchases through them and they never blinked an eye.  Also, Chase hasn't either.  But a least Amex calls me and asked if I wanted or needed anything and if I'm happy with their products.

[Gmood1]

IME, the smaller CUs are the ones that whine about exposure. The nationwide and regional banks I've come across so far don't have an issue with it.
Penfed did have an issue a couple of years ago. But has since relaxed for me.
@imaximous@I would be patient, they'll eventually come around

[imaximous]

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@Gmood1 wrote:

IME, the smaller CUs are the ones that whine about exposure. The nationwide and regional banks I've come across so far don't have an issue with it.
Penfed did have an issue a couple of years ago. But has since relaxed for me.
@imaximous I would be patient, they'll eventually come around

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I hope so. The only reason I'm still keeping the Pathfinder card is because they're basically paying me $100 a year just to have it plus the Global Entry credit, which I already used as well. 

But just to be fair, my issues with them are beyond a credit limit. My accounts started with so many restrictions that it was annoying to bank with them. From limits for being a new member to withholding my balances for several days after clearing my checks; or pulling my wife's credit when she was added as an AU only; or double pulling me for a CLI, etc. Anyway, I think I may be getting off-topic here...