Timing credit line increases

[CaroleBaskinBB]

My husband and I were approved for a CLI for Care Credit from $12k to $20k today. We both have very good/excellent credit but want to make it even better by having higher credit limits.  I want to seek 1, make 2, CLI for other accounts.  Should I wait a while because we just got a CLI, or can other banks not see soft inquiries for CLI?

If it matters, synchrony bank backs 2 of the credit lines we want to increase. Perhaps they wouldn't approve?  Thanks for your help and insight. 

[coreysw12]

Other banks will not see your CLI right away, and they will also not ever see the SP for the CLI. They will only know you got a CLI after your statement cuts for that creditor and they send the new CL to the CRAs, which could be anywhere from days to weeks.

You can (and many people do) request SP CLI's on many or all of your accounts at the same time, it's often a good way to do it. HP CLI's, as I'm sure you already know, will impact your credit scores immediately and other creditors will see it immediately (They won;t know it was an inquiry for a CLI specifically, but they will still know you were seeking new/additional credit)

[Iusedtolurk]

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@CaroleBaskinBB wrote:

My husband and I were approved for a CLI for Care Credit from $12k to $20k today. We both have very good/excellent credit but want to make it even better by having higher credit limits.  I want to seek 1, make 2, CLI for other accounts.  Should I wait a while because we just got a CLI, or can other banks not see soft inquiries for CLI?

If it matters, synchrony bank backs 2 of the credit lines we want to increase. Perhaps they wouldn't approve?  Thanks for your help and insight. 

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First...Congrats on the nice CLI of 8k.

Now is as good of a time as any to go for the CLI.

Just make sure they are soft pulls. No sense in taking a hp if not necessary.

In the current environment (pandemic) I would probably just go for 1 cli since it's with the same issuer to play safe at not activating some internal red flags.( 3 credit line increases from same issuer in a very short amount of time?).

If you have other cards from different issuers I would spread cli out among them if available.

Let us know on what you decided to do and how it turns out...Good Luck

[Anonymous]

sp CLI, go for it.

I never ran into issues, have received 5+ same day many times over from various banks

I have 3 synch cards and never ran into problems with CLI,

however I am maxed on those cards so no CLI for me anymore from synch.