Do banks look at other card's limits?

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mountaindewvoltage
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Do banks look at other card's limits?

Postby mountaindewvoltage » Fri Jan 06, 2017 1:47 am

I just received an increase on my NFCU Cash Rewards tonight from $1,000 to $5,000... I should've asked for more but wasn't sure if they were going to do a manual review or not, but wanted to at least get it to the Visa Signature level and provide a cushion on my available credit to lower my utilization percentage without appearing too greedy to the underwriters who would probably question why someone with a $30,000/year salary wants a card with a $15,000 limit, but whatever anyways....

-Citi gave me an auto CLI last month from $1,500 to $2,200 after two years.
-Empower FCU gave me a CLI in October from $500 to $1,000 after three months.
-American Express approved me in November for a $1,000 limit and it still stands there.
-Amazon/Sync gave me a CLI from $800 to $1,700 back in November.

Do you think when these banks soft pull my report, they'll see how NFCU gave me a $5,000 limit and adjust their limits accordingly to "compete" with them? $2,200 is my second highest card and my NFCU card now has a little more than +100% of the entire limit.


Taalar
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Re: Do banks look at other card's limits?

Postby Taalar » Sat Jan 07, 2017 12:08 pm

My experience has been no, but they may pay attention if you request a higher limit. The automatic increases seem to be based on current credit.
Chase Sapphire Reserve Visa Infiniti $59,500
Bank of America Cash Rewards Visa Signature $47,500
American Express Blue Cash preferred. $35,500
Capital one Quick Silver Visa Signature $25,000
USAA Limitless Cashback Visa Signature $25,000
Experian 838 Transunion 833 Equifax 855

TXviking
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Re: Do banks look at other card's limits?

Postby TXviking » Thu Feb 09, 2017 8:21 am

As a counterpoint, I haven't seen many automatic increases recently. I've gotten a large bump on Discover and a smaller one on AmEx, but that was after a manual "internal review" -- no HP, but not automatic either.

I've only apped for two cards in the past three years, CSP and CSR. But since Chase apparently likes me, each of those cards got approved with a higher credit limit than any of my preexisting cards -- $33K and $34K, respectively. So that has given me a drastic bump in available credit, but no automatic increases elsewhere have followed.

(Incidentally, my highest limit ever was $50K with BofA, but I eventually cancelled that card due to BofA refusing to honor a promise related to APR.)

Taalar
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Re: Do banks look at other card's limits?

Postby Taalar » Wed Feb 22, 2017 9:52 pm

Agreed. It has been a long time since I have seen an automatic limit increase. I thought perhaps it was just because of my current limits.


TXviking wrote:As a counterpoint, I haven't seen many automatic increases recently. I've gotten a large bump on Discover and a smaller one on AmEx, but that was after a manual "internal review" -- no HP, but not automatic either.

I've only apped for two cards in the past three years, CSP and CSR. But since Chase apparently likes me, each of those cards got approved with a higher credit limit than any of my preexisting cards -- $33K and $34K, respectively. So that has given me a drastic bump in available credit, but no automatic increases elsewhere have followed.

(Incidentally, my highest limit ever was $50K with BofA, but I eventually cancelled that card due to BofA refusing to honor a promise related to APR.)
Chase Sapphire Reserve Visa Infiniti $59,500
Bank of America Cash Rewards Visa Signature $47,500
American Express Blue Cash preferred. $35,500
Capital one Quick Silver Visa Signature $25,000
USAA Limitless Cashback Visa Signature $25,000
Experian 838 Transunion 833 Equifax 855

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CarefulBuilder14
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Re: Do banks look at other card's limits?

Postby CarefulBuilder14 » Thu Feb 23, 2017 1:30 pm

CL criteria can often be unclear. Some banks (Discover comes to mind) seem to often start people out with low CLs despite a long and clean credit history and high income. It seems like the CLs are intended to grow quickly...I have to wonder if some banks intend it to be a sort of game.

Synchrony gave me a small auto CLI after 3 months. My reported income was unchanged and my credit barely changed. Was that CLI based on an honest change in their assessment of my risk, or a marketing gimmick?

Other banks look at a customer with strong income and credit history and just give the highest limit their risk assessment allows. No games. Those accounts seem to be the ones that don't often get auto CLIs.

Also, the only gift card Discover ever sent me they sent a day or so after Chase gave me a CLI. This was when I had only the two cards reporting. Not sure if that was a coincidence or not.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
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Limited value, might close: Arrival

Might add: First Tech, proper business card



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