Shot down for 6 month CLI

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CarefulBuilder14
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Re: Shot down for 6 month CLI

Postby CarefulBuilder14 » Wed Jul 01, 2015 12:22 pm

It still seems to me like CLIs (throughout the industry in general) are increasingly gimmicky. Maybe it's just the perspective I have from having started with Chase, though.

In a simple world, an issuer would give the best SL that a customer's income/credit/swipe loyalty justify. The issuer might hold some CL back in case the person wanted other cards, but only for that reason. CLIs would come with time, as a person's profile became more attractive. They would be automatic, but could take years.

On here and MF, a lot of people get annoyed when they don't get a CLI within 2 or 3 months of account opening. A customer's risk level usually doesn't change much over the course of 2 or 3 months.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
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Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May


MemberSince99
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Re: Shot down for 6 month CLI

Postby MemberSince99 » Wed Jul 01, 2015 4:05 pm

CarefulBuilder14 wrote:It still seems to me like CLIs (throughout the industry in general) are increasingly gimmicky. Maybe it's just the perspective I have from having started with Chase, though.

In a simple world, an issuer would give the best SL that a customer's income/credit/swipe loyalty justify. The issuer might hold some CL back in case the person wanted other cards, but only for that reason. CLIs would come with time, as a person's profile became more attractive. They would be automatic, but could take years.

On here and MF, a lot of people get annoyed when they don't get a CLI within 2 or 3 months of account opening. A customer's risk level usually doesn't change much over the course of 2 or 3 months.


For the average person (unlike those of us here) it usually doesn't change over the course of 6 months or a year either. Of course there are exceptions but most people have one card, MAYBE a couple. They don't get 10 new cards a year (or more).

It also depends on how the lender defines "risk". Is getting 10 new cards in a year "risky" behavior if everything else is great? They would say statistics show that blah blah blah and make the case that it is. That doesn't take into account the people on this board because we really don't fit that statistic, that just counts the most likely case.

I'm really beyond caring what they think anymore, to be totally honest. I'm just going to live my life and do what works for me. If they have a problem with that, well, I just don't need them. I hate it when people live in constant fear of what a lender may think - who cares? They can go pound sand. You can go back to your debit card and checks or cash and your life will continue on just fine.

MemberSince99
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Re: Shot down for 6 month CLI

Postby MemberSince99 » Wed Jul 01, 2015 4:18 pm

Actually I was thinking about the decline. All it listed was inquiries. But I honestly don't have that many on EX. I had more than I have now when I applied and got approved for past cards and CLIs with them.

I suspect that was just the only thing they could find, and that I'm already at what they feel comfortable extending to me and it's a case of just take the top reason and use that. You know, internal limit.

That's what my gut tells me becuase I've never seen in the past that Amex cared about them that much in my own experience. Granted it could have changed, but I suspect it's more likely just my internal limit with them.

Vermonster
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Re: Shot down for 6 month CLI

Postby Vermonster » Wed Jul 01, 2015 5:01 pm

I would say SP clis are gimmicky. A HP cli is a good way to show a creditor how you may have grown and changed since they gave the initial card. For me, a HP is a nice incentive to now ask for one unless I feel like I can prove I deserve it. We asked for one on our Freedom after our household income jumped from $70k to $90k, and we can show a few extra years of stability. For me it was worth the HP.
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kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Wed Jul 01, 2015 9:08 pm

CarefulBuilder14 wrote:It still seems to me like CLIs (throughout the industry in general) are increasingly gimmicky. Maybe it's just the perspective I have from having started with Chase, though.

In a simple world, an issuer would give the best SL that a customer's income/credit/swipe loyalty justify. The issuer might hold some CL back in case the person wanted other cards, but only for that reason. CLIs would come with time, as a person's profile became more attractive. They would be automatic, but could take years.

On here and MF, a lot of people get annoyed when they don't get a CLI within 2 or 3 months of account opening. A customer's risk level usually doesn't change much over the course of 2 or 3 months.


I think you are so right about people having unrealistic expectations. They want doubled limits a month after opening a card. If you weren't given that limit upon opening, why in the world is the issuer going to give it to you a month or two later? The entitlement of some people amazes me. You're being extended credit. You take it or leave it on the issuer's terms. If you don't like the terms get a different card or prove (over time) that you deserve better. That's all there is to it.

Member's point is also valid that people overstress about this stuff. Honestly, life is too short to waste time trying to figure out what a lender thinks or wants. Use your cards responsibly and that's all anyone can really do. If the lender "doesn't like" you, what's the worst that happens? You go back to debit and cash like he said. Your world will not end. However, if you want to use the benefits/rewards of credit, you do need to care what they think since they're the one giving it to you.

Nixon
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Re: Shot down for 6 month CLI

Postby Nixon » Wed Jul 01, 2015 11:25 pm

kdm31091 wrote:
CarefulBuilder14 wrote:It still seems to me like CLIs (throughout the industry in general) are increasingly gimmicky. Maybe it's just the perspective I have from having started with Chase, though.

In a simple world, an issuer would give the best SL that a customer's income/credit/swipe loyalty justify. The issuer might hold some CL back in case the person wanted other cards, but only for that reason. CLIs would come with time, as a person's profile became more attractive. They would be automatic, but could take years.

On here and MF, a lot of people get annoyed when they don't get a CLI within 2 or 3 months of account opening. A customer's risk level usually doesn't change much over the course of 2 or 3 months.


I think you are so right about people having unrealistic expectations. They want doubled limits a month after opening a card. If you weren't given that limit upon opening, why in the world is the issuer going to give it to you a month or two later? The entitlement of some people amazes me. You're being extended credit. You take it or leave it on the issuer's terms. If you don't like the terms get a different card or prove (over time) that you deserve better. That's all there is to it.

Member's point is also valid that people overstress about this stuff. Honestly, life is too short to waste time trying to figure out what a lender thinks or wants. Use your cards responsibly and that's all anyone can really do. If the lender "doesn't like" you, what's the worst that happens? You go back to debit and cash like he said. Your world will not end. However, if you want to use the benefits/rewards of credit, you do need to care what they think since they're the one giving it to you.


I started challenging people on their want for CLI's, especially on store cards just before being banned lol.
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Re: Shot down for 6 month CLI

Postby CarefulBuilder14 » Thu Jul 02, 2015 12:01 am

Nixon wrote:
kdm31091 wrote:Member's point is also valid that people overstress about this stuff. Honestly, life is too short to waste time trying to figure out what a lender thinks or wants. Use your cards responsibly and that's all anyone can really do. If the lender "doesn't like" you, what's the worst that happens? You go back to debit and cash like he said. Your world will not end. However, if you want to use the benefits/rewards of credit, you do need to care what they think since they're the one giving it to you.


I started challenging people on their want for CLI's, especially on store cards just before being banned lol.

That ties into my willingness to let Brooks Bros close from inactivity. I'll use it if and when it's clearly superior to another card, and that may (or may not) be often enough to keep it open.

A $1,560 CL is kind of ridiculous for a store card when that store specializes in suits.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Nixon
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Re: Shot down for 6 month CLI

Postby Nixon » Thu Jul 02, 2015 12:07 am

CarefulBuilder14 wrote:
Nixon wrote:
kdm31091 wrote:Member's point is also valid that people overstress about this stuff. Honestly, life is too short to waste time trying to figure out what a lender thinks or wants. Use your cards responsibly and that's all anyone can really do. If the lender "doesn't like" you, what's the worst that happens? You go back to debit and cash like he said. Your world will not end. However, if you want to use the benefits/rewards of credit, you do need to care what they think since they're the one giving it to you.


I started challenging people on their want for CLI's, especially on store cards just before being banned lol.

That ties into my willingness to let Brooks Bros close from inactivity. I'll use it if and when it's clearly superior to another card, and that may (or may not) be often enough to keep it open.

A $1,560 CL is kind of ridiculous for a store card when that store specializes in suits.


I was referring more to $10,000 JCrew cards and trying to get to $20,000 "because it helps with utilization"

OTOH, these same.....special people...claim to pay their bill before statement cut so their utilization doesn't exceed 1%. It's fun to trip them up on their own words.
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kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Thu Jul 02, 2015 6:37 am

Nixon wrote:
I was referring more to $10,000 JCrew cards and trying to get to $20,000 "because it helps with utilization"

OTOH, these same.....special people...claim to pay their bill before statement cut so their utilization doesn't exceed 1%. It's fun to trip them up on their own words.


To which I again say, life is too freaking short. Some people rush home and pay the charge as soon as it appears etc. There is absolutely no need to micromanage it like that. The "benefits" (if there are even any) are far outweighed by the time and effort.

The "utilization" thing makes me laugh and is so overblown it's not even funny. Your score is not going to skyrocket 100 points because of a CLI. Sometimes it doesn't even make a big difference.

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Re: Shot down for 6 month CLI

Postby oldsoldier » Thu Jul 02, 2015 9:55 am

You guys have really hit on some good points micromanaging, feeling like you entittled to a CLIs and complaining when you get denied. I am with Member on just live your life. Pay your bills and live your life to fullest. Cards enable you to enjoy life a little better and If you have to make a large purchase make it just pay it down as soon as you can.

I just think you shouldn't always be obsessed with scores because there are to many scoring models to try and figure out anyway.
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