Where to go next and CLI??? - AMEX, CHASE, BofA, CITI, DISCOVER

[Tg123]

Hey everyone, 

I've been on the forums a while now and it has definitely helped me in establishing credit as a student. 

Currently I have:

Citi Forward (Opened April 2011 - @1600) I haven't been using it because it's such a low limit. 

American Express Zync (May 2011) Used for pick purchases on average every 4 months or so. 

Chase Freedom (May 2012 - @3000) This has been my main card.

Bankamericard Cash Rewards (May 2012 @ 1000) Gets some groceries on it occasionally. 

Just got a Discover IT this month (2k)

So I guess what I want to know is where to go from here. I just hit 1 year on Chase, BofA, American Express, and 2 years on Citi. According to creditkarma I have a 763 score. I know it might now be a true score, but it gives some picture. Also I pay everything on time and I am at 7% utilization. I'd like to have bigger limits. Is it possible to call Discover and ask for a bigger limit right off the bat or is it too late? It's been about a month since I got it. As far as the Citi Forward is there a card I should pc to? How should I handle my cli request? Is $5000 too much? And Chase is asking for $5000 too much or should I just double and ask for $6000? I do not want any hard pulls as I just took one for Discover on TU. So i'm not sure I want to ask for a cli on BofA because I know they want a hard pull. And lastly the Zync I believe that Amex wants to get rid of this card atleast that's how I felt according to a survey I took. Should I just keep this where it is or pc to something else or apply for one of their other cards? I do like that I can put $5000 on it and know it will go through without any trouble. 

Sorry for all the information and thanks in advance for any advice given!

[enharu]

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@Tg123 wrote:

Hey everyone, 

I've been on the forums a while now and it has definitely helped me in establishing credit as a student. 

Currently I have:

@Anonymous Forward (Opened April 2011 - @1600) I haven't been using it because it's such a low limit. 

American Express Zync (May 2011) Used for pick purchases on average every 4 months or so. 

@Anonymous Freedom (May 2012 - @Anonymous) This has been my main card.

@Bankamericard Cash Rewards (May 2012 @ 1000) Gets some groceries on it occasionally. 

Just got a Discover IT this month (2k)

So I guess what I want to know is where to go from here. I just hit 1 year on Chase, BofA, American Express, and 2 years on Citi. According to creditkarma I have a 763 score. I know it might now be a true score, but it gives some picture. Also I pay everything on time and I am at 7% utilization. I'd like to have bigger limits. Is it possible to call Discover and ask for a bigger limit right off the bat or is it too late? It's been about a month since I got it. As far as the Citi Forward is there a card I should pc to? How should I handle my cli request? Is $5000 too much? And Chase is asking for $5000 too much or should I just double and ask for $6000? I do not want any hard pulls as I just took one for Discover on TU. So i'm not sure I want to ask for a cli on BofA because I know they want a hard pull. And lastly the Zync I believe that Amex wants to get rid of this card atleast that's how I felt according to a survey I took. Should I just keep this where it is or pc to something else or apply for one of their other cards? I do like that I can put $5000 on it and know it will go through without any trouble. 

Sorry for all the information and thanks in advance for any advice given!

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what is your income?
it is hard to expect high CLs while you're a full time student with no permanent stable income. Once you graduate and land a job, things will be very different.

$5000 is definitely too much for Citi. Even if you are willing to take a hard inquiry chances are they will not give you this much. You could always try and let them counter-offer you. This will be your best recourse.

As for chase, it is going to be a HP for any CLI request. In EXTREMELY rare circumstances some people get away with a SP, but don't count on it until it actually happens.

BofA is a HP as well, like you said.

You can try ask for a higher CL on your Discover but chances are they will need to do a new HP.

Hope this helps!

[09Lexie]

Since you are reaching your 1 yr mark on Chase and BoA you might get an auto CLI . If no, then since boa is the lowest Id ask for CLI from them- see if they will do it with a sp - it's been done before. Citi is your low probably because it was one if your first, I'd ask them for a so CLI too. I wouldnt PC it to another cc cause it has a better reward structure for students. Finally, I think you should app for an Amex revolver a BCE should fit in nicely.

Good luck!

[Tg123]

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@09Lexie wrote:
Since you are reaching your 1 yr mark on Chase and BoA you might get an auto CLI . If no, then since boa is the lowest Id ask for CLI from them- see if they will do it with a sp - it's been done before. Citi is your low probably because it was one if your first, I'd ask them for a so CLI too. I wouldnt PC it to another cc cause it has a better reward structure for students. Finally, I think you should app for an Amex revolver a BCE should fit in nicely.

Good luck!

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So how long should I wait before apping for a cli myself? 

Also my income is 20k per year. 

[enharu]

you can try asking them for a CLI once your cards hit 12 months old.

because your income is limited it is hard to get a high CL and there's really no way to get around that for now. Be patient  

Also, like lexie said, since you already have a zync, you can consider applying for an Amex revolver. It is a SP if denied, HP if approved. This is a good way for you to get more available credit overall.

[Tg123]

Okay thanks. I just sorted through a lot of mail and found that I have a couple offers from Citi for their Simplicity card. Is this a good card? And as an additional note on the Forward I do not have the college version. I have the regular "adult" version. - I have confirmed this with them. I would really like to see the Citi card grow with me since it was my first card, but it doesn't seem to be happening. Should I continue to wait as all my cards have hit their 12 month mark with citi hitting 26 months this month and no auto cli. Some more information. My experian last year may was 738 and with my Discover IT I got notice that my Transunion is 779. Does this help give me more options on where to go for cards? I do have a Penfed account, but have been holding off applying because I haven't seen an ad on my account for their credit card. I appreciate all the advice and time given!

[enharu]

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@Tg123 wrote:

Okay thanks. I just sorted through a lot of mail and found that I have a couple offers from Citi for their Simplicity card. Is this a good card? And as an additional note on the Forward I do not have the college version. I have the regular "adult" version. - I have confirmed this with them. I would really like to see the Citi card grow with me since it was my first card, but it doesn't seem to be happening. Should I continue to wait as all my cards have hit their 12 month mark with citi hitting 26 months this month and no auto cli. Some more information. My experian last year may was 738 and with my Discover IT I got notice that my Transunion is 779. Does this help give me more options on where to go for cards? I do have a Penfed account, but have been holding off applying because I haven't seen an ad on my account for their credit card. I appreciate all the advice and time given!

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Yes the simplicity is a good card for BT transfers or if you need to leave a balance for an extended period of time. There's no rewards structure for that card, I think.

However preapprovals can be very unpredictable and is by no means any good indicator of approval odds.

Keep the forward. It has a really good rewards structure.

For Citi, they do SP CLIs. Becareful what the CSRs are telling you however. They're known for telling you it's a SP and it ends up being a hard inquiry. I read somewhere that you can do the SP CLI process on your own online as well. I am not too sure regarding that.

There certainly are other cards you can consider and will suit you well. Have you considered a revolver by American Express? You can also check out Barclays. The Sallie Mae Mastercard is a good card as well.

Right now because you're a still a student with limited income, most prime lenders will not be generous when it comes to CLs.There's really nothing to much do about that and everyone who was in college was in the same situation as you are in. Use those cards well, manage your credit well, and once you land a full time job upon graduation, you can get much higher limits easily as compared to now.

[Tg123]

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@enharu wrote:

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@Tg123 wrote:

Okay thanks. I just sorted through a lot of mail and found that I have a couple offers from Citi for their Simplicity card. Is this a good card? And as an additional note on the Forward I do not have the college version. I have the regular "adult" version. - I have confirmed this with them. I would really like to see the Citi card grow with me since it was my first card, but it doesn't seem to be happening. Should I continue to wait as all my cards have hit their 12 month mark with citi hitting 26 months this month and no auto cli. Some more information. My experian last year may was 738 and with my Discover IT I got notice that my Transunion is 779. Does this help give me more options on where to go for cards? I do have a Penfed account, but have been holding off applying because I haven't seen an ad on my account for their credit card. I appreciate all the advice and time given!

---

Yes the simplicity is a good card for BT transfers or if you need to leave a balance for an extended period of time. There's no rewards structure for that card, I think.

However preapprovals can be very unpredictable and is by no means any good indicator of approval odds.

Keep the forward. It has a really good rewards structure.

For Citi, they do SP CLIs. Becareful what the CSRs are telling you however. They're known for telling you it's a SP and it ends up being a hard inquiry. I read somewhere that you can do the SP CLI process on your own online as well. I am not too sure regarding that.

There certainly are other cards you can consider and will suit you well. Have you considered a revolver by American Express? You can also check out Barclays. The Sallie Mae Mastercard is a good card as well.

Right now because you're a still a student with limited income, most prime lenders will not be generous when it comes to CLs.There's really nothing to much do about that and everyone who was in college was in the same situation as you are in. Use those cards well, manage your credit well, and once you land a full time job upon graduation, you can get much higher limits easily as compared to now.

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Okay thanks. Is is confirmed that it's a soft pull when doing a cli request online for Citi? Also what is the big deal with Amex BCE or revolvers in general it seems to be a go to option. It is just because I'm a student or is it a good card to grow with? 

[enharu]

American Express revolvers are good cards to grow with because of their 3x CLI feature. Basically you can request for 3x CLI on the 61st day, and then every 6 months thereafter. Your CL can basically grow until the threshold American Express has decided on for someone of that income level.

Since you already have the Zync, it is a soft pull if declined, hard pull if approved. So in a way it's a really good deal because there's no inquiry in the event of a denial. Do not go app-crazy with that though. People have gotten FR'ed for trying to apply too many times too frequently. One app every 3-6 months should be fine until you have 1-2 revolvers with Amex, then you ought to space out the application timing even more.

On top of that, the rewards are decent and the benefits (purchase protection, extended warranty, etc) are good as well.

I am not too sure about the Citi CLI process. I just got my Citi card about a month ago so I haven't tried it myself. Hopefully someone else can help you with that.

[Tg123]

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@enharu wrote:

American Express revolvers are good cards to grow with because of their 3x CLI feature. Basically you can request for 3x CLI on the 61st day, and then every 6 months thereafter. Your CL can basically grow until the threshold American Express has decided on for someone of that income level.

Since you already have the Zync, it is a soft pull if declined, hard pull if approved. So in a way it's a really good deal because there's no inquiry in the event of a denial. Do not go app-crazy with that though. People have gotten FR'ed for trying to apply too many times too frequently. One app every 3-6 months should be fine until you have 1-2 revolvers with Amex, then you ought to space out the application timing even more.

On top of that, the rewards are decent and the benefits (purchase protection, extended warranty, etc) are good as well.

I am not too sure about the Citi CLI process. I just got my Citi card about a month ago so I haven't tried it myself. Hopefully someone else can help you with that.

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I completely forgot about the 3x cli feature. Just looking at the cards should I look at the travel blue cash or the everyday? Would the travel offer a higher limit? I am able to use the points on my Forward or Freedom for travel although it is not a specific feature of those cards. Thanks again!