Why Would You Decline a CLI

[rbentley]

I see a number of posts where someone is dissapoined/offended by a low CLI approval and declines it.  What is the rational on that?  You have probably already taken a HP on the CLI app.  What do you gain by turning that paltry CLI increase other than your dignity in not taking such a low offer?

[aircobra]

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@rbentley wrote:

I see a number of posts where someone is dissapoined/offended by a low CLI approval and declines it.  What is the rational on that?  You have probably already taken a HP on the CLI app.  What do you gain by turning that paltry CLI increase other than your dignity in not taking such a low offer?

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Unlikely that it was a HP and there is a chance that you get a better CLI in a month or 2. I know with Capital One, it is once every 6 months, so why burn that on such a low CLI?

[Dirge]

As aircobra said, I declined 4 or 5 $500 CLI offers from Capital One over the last year or so, because they were too small. If I'd accepted one of them, I couldn't have applied for another CLI for six months. They were all soft pulls. Then this week they offered me a $3,000 CLI and I took that one. 

[Anonymous]

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@rbentleyI see a number of posts where someone is dissapoined/offended by a low CLI approval and declines it.  What is the rational on that?  You have probably already taken a HP on the CLI app.  What do you gain by turning that paltry CLI increase other than your dignity in not taking such a low offer?

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As the others have mentioned above, accepting a CLI whether it's $1 or $10,000 is going to reset the clock (whatever it may be for the lender) prolonging the amount of time it will be until you can receive another CLI.  Since 6 months is a common time period here, let's use that as an example.  Say that 2 months from now you know that your profile is going to improve considerably.  Perhaps you currently have negative items on your credit report that are due to fall off by then.  Perhaps your utilization today is very high, but you know that with your tax return check coming you'll be paying off all of your debt.  Either of those events can significantly improve one's profile.  That being said, declining a small CLI today would probably be a smart move, because in 2-3 months (rather than having to wait 6 months) with a significantly better profile more than likely a significantly better CLI would be offered.

[joltdude]

The other shoe if you want to think of it from a non-automated point of view is basically by refusing the small CLIs, it kinda says.. Hey im not desperate for credit scraps..... Remember credit is easier to get usually when you dont need it.... Now theres some banks you should and there are other banks it dont mean anything.....

-J

[Anonymous]

I've got a slightly off-topic question here regarding the decline of a CLI.  Perhaps the answer is lender-specific, but if anyone knows it would be cool.

Say you decline a $500 CLI.  Are you able to log back into your account the next day and request it again?  I would think if the $500 CLI is available and waiting that if you declined it you'd still be able to obtain it at a later time, even if it was a day, week, etc.  My perception is that the $500 amount would only increase over time, of course assuming your credit profile stays as strong or stronger than when it was first offered.  Any opinions on this?