December 2014 Garden Cult/Club

For just about anything you want to get off your chest about credit cards.
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popamode72
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Postby popamode72 » Tue Dec 02, 2014 9:42 am

otter wrote:(trying to reach 10,000 posts by end-of-year)

Congrats! Thanks for sharing :)


+1

Congrats coldnmn and alvon123 for giving me a completely generic congrats message. Totally contributing to the discussion you two. You deserve to be a community leader.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)


yfan
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Postby yfan » Tue Dec 02, 2014 9:51 am

PlyrStar93 wrote:Discover has again taken adverse action against me. Requested CLI last month and got denied. They still say length of time account open is the reason of denial, but it has been over 6 months. Anyway wouldn't be trying again this year.

Well, refusing to increase the credit limit can hardly be considered adverse action.

popamode72
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Postby popamode72 » Tue Dec 02, 2014 9:59 am

yfan wrote:Well, refusing to increase the credit limit can hardly be considered adverse action.


I thought adverse action referred to events like Barclays closing an account or Amex doing an FR.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

oldsoldier
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Postby oldsoldier » Tue Dec 02, 2014 11:01 am

I must say its tiime for me to work in the garden for awhile. I had one credit card for years then 2014 came and I was like superman anything I app for was a yes I was on top of the world lol. Now it's time to change the way I do business and grow this garden!!
BoA Cash Rewards $13,000
Chase Sapphire Preferred $14,000
BoA Better Balance $12,000
Amex Every Day $24,000
Discover It $17,000
NFCU Platinum Visa $25,200
Barclay Arrival WMC $10,000
Cap One QuickSilver WMC $6,200
WF Cash back Visa Sig $11,000
Citi Thank You Premier $11,600

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PlyrStar93
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Postby PlyrStar93 » Tue Dec 02, 2014 11:39 am

yfan wrote:Well, refusing to increase the credit limit can hardly be considered adverse action.

Technically they do mention the "credit decision" is based on credit report and the wording is "denied credit". The letter complies with an adverse action letter, so in this case I would consider it is.

Here is explanation about what an adverse action notice is, which is what I received:
What is an Adverse Action Notice?

An adverse action notice is to inform you that you have been denied credit, employment, insurance, or other benefits based on information in a credit report. The notice should indicate which credit reporting agency was used, and how to contact them.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Dec 02, 2014 11:46 am

When I requested a Freedom CLI from 600 to 3k, and they countered 2k, it was considered AA.

So even a partial CLI can be AA if you don't get all you ask for.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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PlyrStar93
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Postby PlyrStar93 » Tue Dec 02, 2014 11:50 am

CarefulBuilder14 wrote:When I requested a Freedom CLI from 600 to 3k, and they countered 2k, it was considered AA.

So even a partial CLI can be AA if you don't get all you ask for.

Just curious, did they send you a letter like the denial-of-credit letter with decision based on credit report and all that stuff? I have requested for CLI with Citi but that one didn't ask how much I want. I also requested CLI with Discover, with and without the amount they ask me, but both are straight denials.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Dec 02, 2014 12:07 pm

PlyrStar93 wrote:Just curious, did they send you a letter like the denial-of-credit letter with decision based on credit report and all that stuff?


Yes. It read something like (but not verbatim):

"Thank you for your recent request for a credit limit increase. We were unable to approve it for the full amount you requested, however we were able to increase it to $2,000 and it is already available for you. Our decision was based on these factors:

You already have enough available credit.
You already have enough open accounts.

Your TU FICO is (something like 730)
The biggest factors affecting it are:
Age of accounts
No installment info"

etc

At the time, my credit report had only the 600 Freedom, a 2k Discover, and a NPSL PRG.

And it did entitle me to a copy of my TU report.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

popamode72
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Postby popamode72 » Tue Dec 02, 2014 12:09 pm

CarefulBuilder14 wrote:Yes. It read something like (but not verbatim):

"Thank you for your recent request for a credit limit increase. We were unable to approve it for the full amount you requested, however we were able to increase it to $2,000 and it is already available for you. Our decision was based on these factors:

You already have enough available credit.
You already have enough open accounts.

Your TU FICO is (something like 730)
The biggest factors affecting it are:
Age of accounts
No installment info"

etc

At the time, my credit report had only the 600 Freedom, a 2k Discover, and a NPSL PRG.

And it did entitle me to a copy of my TU report.


When was the last time you tried a CLI on that card? Maybe your internal score has risen since then.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Dec 02, 2014 12:16 pm

popamode72 wrote:When was the last time you tried a CLI on that card? Maybe your internal score has risen since then.


I requested the CLI in July - so before the big jump to 6k I got when opening the BCE.

I might get a CSP in 2015, so maybe they can throw in a Freedom CLI then.

There are already a few inquiries that I expect to take in the next year or so - and adding another just for a Freedom CLI doesn't seem worth it. I do have high utilization report on that sometimes (30% last month), so I'd especially welcome an auto CLI on that one.

That 30% may have played some role in my getting the lower-tier Brooks Bros card - though it wasn't a factor listed on the letter. The BB letter from Synchrony focused on my short history and lack of installment history. Inquiries or new credit were not mentioned, as far as I recall.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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