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cli question - how lenders may view it?

Regular Contributor

cli question - how lenders may view it?

how does it look when im getting CLI's every month?

 

does it show who initiates it? if my utilization continues to be 0 for that particular card, i should be ok right?

 

i dont want other lenders who may be periodically checking up on me to see that my credit limit from another lender is getting higher and higher. 

 

 


Gardening until 08/2017!
6 REPLIES
Community Leader
Super Contributor

Re: cli question - how lenders may view it?

The lender you initiated the CLI with will know.  But others lenders don't know and it is not a big deal if you get a CLI on a card with a zero balance.

Message 2 of 7
Regular Contributor

Re: cli question - how lenders may view it?

thank you for that

 

so for example, if amex raises my cli, or i initiate a cli, chase wouldnt be like **bleep**? and close my accts right?

 

been seeing a lot of chase aa recently and i dont want to risk anything.


Gardening until 08/2017!
Message 3 of 7
Mega Contributor

Re: cli question - how lenders may view it?


wayfico wrote:

thank you for that

 

so for example, if amex raises my cli, or i initiate a cli, chase wouldnt be like **bleep**? and close my accts right?

 

been seeing a lot of chase aa recently and i dont want to risk anything.


That is very unlikely.  Also, have you really been seeing a lot of Chase AA?  Compared to other issuers?

 

To answer the question more generally, if repeated CLIs led to very large limits, some other issuers might eventually not want to extend additional credit to you (so no CLI or new card) but generally your limits have to be very high compared to income for this to happen, and not common even then

Message 4 of 7
Regular Contributor

Re: cli question - how lenders may view it?


longtimelurker wrote:

wayfico wrote:

thank you for that

 

so for example, if amex raises my cli, or i initiate a cli, chase wouldnt be like **bleep**? and close my accts right?

 

been seeing a lot of chase aa recently and i dont want to risk anything.


That is very unlikely.  Also, have you really been seeing a lot of Chase AA?  Compared to other issuers?

 

To answer the question more generally, if repeated CLIs led to very large limits, some other issuers might eventually not want to extend additional credit to you (so no CLI or new card) but generally your limits have to be very high compared to income for this to happen, and not common even then


ive been reading a lot of posts about AA  from various lenders on this board, and its reasoning. I do not want to put myself in a position where i'd be flagged as risky, credit hungry, or abusive.

 

my TCL is no where near my income. but it is definitely skewed towards chase. 75% of my Credit is from chase. 25 is from AMEX/Discover/WF.

 

 


Gardening until 08/2017!
Message 5 of 7
Frequent Contributor

Re: cli question - how lenders may view it?


Yes-Its-Me wrote:

The lender you initiated the CLI with will know.  But others lenders don't know and it is not a big deal if you get a CLI on a card with a zero balance.


Just to clarify this....

 

Other lenders won't know who initiated the CLI, but they will know that you have received multiple CLIs.  

 

Part of the report for each card includes a line that looks something like:

Credit Limit: $5,000 09/2016 - $3,000 08/2016 - $1,000 - 05/2016

 

Message 6 of 7
Highlighted
Mega Contributor

Re: cli question - how lenders may view it?


wayfico wrote:

longtimelurker wrote:

wayfico wrote:

thank you for that

 

so for example, if amex raises my cli, or i initiate a cli, chase wouldnt be like **bleep**? and close my accts right?

 

been seeing a lot of chase aa recently and i dont want to risk anything.


That is very unlikely.  Also, have you really been seeing a lot of Chase AA?  Compared to other issuers?

 

To answer the question more generally, if repeated CLIs led to very large limits, some other issuers might eventually not want to extend additional credit to you (so no CLI or new card) but generally your limits have to be very high compared to income for this to happen, and not common even then


ive been reading a lot of posts about AA  from various lenders on this board, and its reasoning. I do not want to put myself in a position where i'd be flagged as risky, credit hungry, or abusive.

 

my TCL is no where near my income. but it is definitely skewed towards chase. 75% of my Credit is from chase. 25 is from AMEX/Discover/WF.

 

 


OK, but remember that what you are seeing is highly unrepresentative.  The vast majority of people in the real world, and probably most people on myfico don't receive AA.  People just don't post "Yep, no AA on ANY card today, that's 3555 days in a row...".  Don't over app, keep util fairly low, pay on time, and AA is unlikely.

 

There are quite a few reports from some banks (Synch and Commentiy) but these are also those where many people go overboard getting lots of store cards too quickly making the whole bank overly sensitive.

 

Chase isn't so much one of those.   Most of the Chase AA comes from things like selling/transferring URs, or "abuse" of Chase checking accounts, much more rarely concerns over app sprees.

Message 7 of 7