Max out CL hurts Credit Score?

[TyRacing]

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@staticvoidmain wrote:

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@TyRacing wrote: Love to increase it, but i think im pushing my luck. They might cancel it, no?

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When did you open it? When I requested a limit increase, I requested a CLI, same day. The person I opened my account with did not give in with my request of getting it increased. 30 minutes later, I called and had it increased to a more reasonable limit by a more reasonable person.

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 Opened it on 10-11-19. Could i still call and not get a HP? What number?

[staticvoidmain]

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@TyRacing wrote:

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 Opened it on 10-11-19. Could i still call and not get a HP? What number?

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I would just ask them if they will do another HP since they just did.

I seriously cannot answer this question because I don't know.

(Maybe someone else knows any special double-dip HP rules with same lenders within a 5 day period.)

I'd try one of their backdoor numbers.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

man, call them up and say hi i'm mr so and so with a 15k amex card, why did you give me a $500 limit?

they will almost certainly increase it, but might want a hp for it.

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😐

No, they most certainly will not increase it because of that. If you want to test that theory, call your other two lenders, and demand they match limit Amex gave you. 

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they have a history of giving a $500 limit to almost everyone applying for this card, and if you call recon they will increase it nearly 100% of the time. i don't need to test this theory there's many approval threads about it already.

[Anonymous]

I have over $215K in CL, and had a score near 840. I maxed out my Propel to with 40 cents of its 10K limit. After a few months, I got a CLI to 12K. Got within $400 of the 12K line after the CLI. 

At 9,999 of the 10K, my score dropped to 796. After the CLI,  score went up 20 pts. After getting close to max again near 12K, score went to 798.

It certainly does tank your scores. My max utilization during this time was 7%. Still very low. I paid in full and my utilization is at 1% and my score recovered completely. 

My credit profile is much different than yours. But you maxing out a card, even if you are at 4% total utilization, will cost you a lot of points. I don't need to worry about my score while maxing out a card, I do it for future CLIs and showing a high credit number on my report for that card. For you, I'm not sure how that would hurt you. I can't see lenders panicking that you put $475 on a $500 limit card when you have 10s of thousands of open credit (I assume) on other cards.

[Remedios]

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@Anonymous wrote:

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@Remedios wrote:

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@Anonymous wrote:

man, call them up and say hi i'm mr so and so with a 15k amex card, why did you give me a $500 limit?

they will almost certainly increase it, but might want a hp for it.

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😐

No, they most certainly will not increase it because of that. If you want to test that theory, call your other two lenders, and demand they match limit Amex gave you. 

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they have a history of giving a $500 limit to almost everyone applying for this card, and if you call recon they will increase it nearly 100% of the time. i don't need to test this theory there's many approval threads about it already.

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And you're wrong again

$500 approval is very indicative of barely squeezing in. The chance of getting it increased is beyond slim. 

OP is free to do as they please and listen to whomever they feel is giving them accurate information. 

While they are plenty of instances why lenders like Barclay,  Chase US Bank will issue cards with minimum starting limits, the stories of those getting increase are not the norm. 

[staticvoidmain]

Just a data point: For me, the SL was $1000. They increased it to $7500.

I do agree though that Barclays is a hard one (still my lowest limit to this day). Nothing is certain. I am not trying to give you hope, but I would try if I was in your position (as I did).

[Anonymous]

BTW, what is the point of maxing out the card? An experiment or trying to get a CLI? Make sure you PIF after statement generates if you run up close to the limit.

[Remedios]

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@staticvoidmain wrote:

Just a data point: For me, the SL was $1000. They increased it to $7500.

I do agree though that Barclays is a hard one (still my lowest limit to this day). Nothing is certain. I am not trying to give you hope, but I would try if I was in your position (as I did).

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I would wholeheartedly agree with you, but OPs oldest card is barely two years old, and bunch of new accounts in the last few months.
Even if some are not reporting, the inquiries are there.
Those reasons are probably why they started them on such a low end.
I'm not saying it's not possible, but with weaker profile, Barclay can go in the other direction and close the card if they feel there is excessive credit seeking there, especially four days after approval.
Anything is possible though, and data points are always appreciated.

[Anonymous]

if datapoints are appreciated why are you so quick to say i am wrong remedios? 30+ approvals that got reconned for a higher limit and not one person got their card closed for asking. that's the trend i have seen in the approvals not just here but also on reddit. you are wrong because you are just making assumptions and not looking at this data.

[Anonymous]

It will be 100% another HP.
There is 50/50 chance for CLI. Most likely they will say something like “We would like to see some usage and experience with the current limit” or if the rep is nice enough they will just bump it to max you highest limit. Depends.
I recently let one of my cards report 95% uti and my score tanked 32 points. Overall uti was 15%.
I would just pay it off now