Should I request a CLI?

[Anonymous]

I ONLY have 13500 max available credit. Would I benefit requesting a CLI to boost my available credit? How much does available credit weigh over credit inquiries? Also, I have a  Capital One that regularly gives me increases as well as Walmart, but my youngest, BOA (a little over 1 year old) has NEVER given me an increase.  Should I request a CLI? Or just wait it out?

[Anonymous]

Do you mind posting some data points.....credit scores, inquiries, number of accounts, AAOA.....thanks!!

[Anonymous]

Sure! My credit score by fico standards (not fako) is 722. Inquiries are 4. AAoA is 8. And I'm not sure how many I have... college loans are throwing it off... but I THINK 9 total. I have 3 open, 3 school loans, and 3 closed iirc

[Anonymous]

Your profile IMO looks great to request a cli from BofA. It is definately a HP but if it has been over a year and your payment history is good and utilization is in line, I think you will do well. Remeber to go high and let them counter. As far as inquiries, you look pretty good. How recent are you 4 inq..? In regards to waiting it out...I just spoke with BofA about an auto increase on my account and they stated that it rarely happens any more...Let us know how it goes...Thanks!!

[Anonymous]

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@Anonymous wrote:

I ONLY have 13500 max available credit. Would I benefit requesting a CLI to boost my available credit? How much does available credit weigh over credit inquiries? Also, I have a  Capital One that regularly gives me increases as well as Walmart, but my youngest, BOA (a little over 1 year old) has NEVER given me an increase.  Should I request a CLI? Or just wait it out?

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The size of your credit limits (either total or individual) is not a FICO scoring factor.  Suppose Bob and Fred each have four credit cards and (say) 5% utilization.  Bob's cards have credit limits of 1k each and Fred's are 20k each.  Fred will not get even 1 extra point for having the huge credit limits.  All that matters there is the utilization.

You could spend 20k a month on your cards (given your credit limits) and still have a very low utilization.  You'd just need to pay your cards down a few times.

On the other hand, if you'd like a CLI, feel free to ask for one.  Nothing wrong with that.

As Doinit explained, BOA definitely does a hard pull for CLI requests.  Many issuers do not, but BOA does.  This link may be helpful as you look into getting CLIs:

http://www.doctorofcredit.com/maximize-your-credit-limits-for-the-citi-gold-deal/

[Anonymous]

I had assumed that ALL requests are a hard pull! I think I'll wait until some of my inquiries fall off until I do BofA, but I can do Capital One now as I have NEVER requested an up! Also, does anyone know if Walmart does a hard pull on request?

[Anonymous]

I had NO idea it could be so easy CO just gave me $2k INSTANTLY without bumping my credit!

[Anonymous]

Delighted to hear that that link was a help!  Best of luck...

[Anonymous]

Congrats on your increase!! For Walmart, call credit solutions for Synchrony Bank  and request high. It will be a soft pull and you will probably be successful as well. 

[Anonymous]

Question... on Walmart could I get away with using the request feature online instead of calling? I avoid phone calls where possible.