CC Deville wrote:Congrats! I've noticed since CARD ACT that a lot of the banks usually give one free CLI within the first year of card membership since they still have annual income on record. I kind of miss the old days of the early to mid 2000's when auto CLI's occurred regularly....
My experience with Discover was aggravating...they approved me for $1,500 in 1999 and even at 20 I was maxing that sucker out (it was the only cash back card at the time) so I was constantly having to send payments in to free up credit. I got impatient with them and kept requesting CLI's which were always HP's; they gave me $500 each time. Finally, in 2002 when I stopped requesting them, they gave me $1,000 more every 6 months like clockwork until I switched my spending to Citibank Dividend (which used to be awesome) in 2004. Discover definitely likes to see usage. I finally got my Discover credit line up to $10,000 last year after 15 years of having the card thanks to the luv button.
Thanks. I never thought the CARD Act would affect issuers in giving auto CLIs. Under my old impression when I had my first credit card I thought that just have a good credit, banks would like me and could give CLIs automatically.
Before this automatic increase I never had any auto CLIs from any bank. I was furious to see others' accounts having auto CLIs, but not mine. Banks are certainly different, but I also suspected they treat others better than me. They was I used my first card since 2012, a 1k Citi Forward, was kind of like yours--maxing it out and cycling the limit, but at that time I constantly check my account and see if there was a balance of, say, $300 or more, and if there is I would just make a payment. The account is always paid in full each month (and the amount of payment was definitely a lot), never late, but never an auto CLI. It was until late 2013 when I saw someone had $1.5k limit on a Forward that I realized it may be possible to have the limit increased... Beginning 2014, I called them to see if they can increase my limit, and was denied, probably due to not having knowledge reporting income to them. They connected me to an analyst, and she was able to increase the limit to what I asked, which was $2k. She claimed there was no hard pull when I asked if there is any, but I did see a hard when checking my Equifax. Now I see my ignorant side, at least I should have asked more.
Nonetheless, now I will just follow Citi's 6 month SP online CLI rule with around $1.5k each time. Since I already got two $5k lines from them, I am not sure if there will be any more success in SP CLI from them. I should be able to request one 2 months later, but I might not be going to do that. Of course, they never ever gave me an auto CLI, nor did they send any notification regarding eligibility. Amex and Chase never gave auto CLIs, but I am pretty fine with initial credit lines of $8k and $7k respectively, which I find it's at the upper spectrum among students. I never submitted any requests to them, either.
By 2014 Discover was considered conservative, stingy, and every other word that can describe someone not willing to be generous. $500 was pretty common to someone with established credit, and any attempt to increase that was a PITA. There also had been a lot of speculations on what Discover likes, and even myself has summarized that. I have tried putting major spending on them and making a lot of swipes, neither of which worked. Paying in full has always been my behavior, so I never tried carrying balances. By that time the luv button (online CLI request) was never functional ("Sorry, but your request cannot be processed at this time, please call blah blah blah"), I didn't even have the form to fill out), and requests by chat or phone was a certain denial. But all in all, it remained my lowest limit line, which was $2k until I was able to request an increase.
So they seem to have changed either underwriters or strategies. There have been quite a few positive reports in giving much more generous limits, and the luv button finally allows me to fill out some information. Around that time I have heard some other people could also get it work while they had the same error message as mine in the past. I was able to request $2.5k manually without hard pull, and now they can give another $2.5k automatically. I am not using the card very much right now--most spending go to Citi then Chase, particularly the second quarter this year--I have three cards that give 5x on dining (Citi Forward, Chase Freedom, Discover it. The first two give points that can potentially achieve higher values). Thus, they might still be following their old auto-CLI rules, but they indeed are trying to break the stereotypes of a conservative lender, especially when this auto CLI is not like $250, $300 or something.
CC Deville wrote:
Question, your email mentioned that your "new credit line is $7,000, of which $0 may be used for cash..." Did you request to have the cash advance feature removed?
When applying for the card, there was a choice asking if you would be interested in obtaining cash advances, and I said no, then my account has zero cash advance limit since the beginning. Even my credit line has been increased twice, the cash limit remains zero. It should be possible to adjust the cash limit to zero if it's currently not zero. I have seen that if the cash limit is non-zero, it can actually increase as a CLI is done, but that doesn't apply to a zero cash limit.