Credit line increases

For just about anything you want to get off your chest about credit cards.
13 posts
gregshelley@scrtc.com
Centurion Member
Centurion Member
 
Posts: 163
Joined: Fri Sep 11, 2015 1:05 pm
Location: Kentucky

Credit line increases

Postby gregshelley@scrtc.com » Wed Sep 30, 2015 12:42 pm

What is the quickest CLI you got and how do you usually get notified?
Discover it $3k
BOA CR Visa Sig. $18K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $8.5K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Busin Visa $2K
Chase Ink Cash Busin Visa Sig. $5K


User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1157
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Re: Credit line increases

Postby Vattené » Wed Sep 30, 2015 2:00 pm

I've never gotten an automatic CLI (I've always requested them), so I can't share any experience with notifications.

I got a CLI on my Discover about four months after opening the account (from $4,200 to $6,500). I don't recall how fast I got on on my American Express, but it may have been even sooner (from $11,500 to $20,000). I may have been able to get increases a little sooner, that's just when I asked for them.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Kevin86475391
Centurion Member
Centurion Member
 
Posts: 237
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Credit line increases

Postby Kevin86475391 » Wed Sep 30, 2015 7:48 pm

gregshelley@scrtc.com wrote:What is the quickest CLI you got and how do you usually get notified?

Probably after about 3 months of opening the account was the fastest. When I first opened my Discover account I got about 3 or 4 auto CLIs starting around the 3rd month and then periodically throughout the first year. In the case of those I was notified by email. I think they may have also sent postal notifications, but I'm not positive and know I found out first via email.

I've had auto CLIs on a few other accounts that I noticed myself in the course of logging into the online sites - which I do almost daily. In those instances I was EVENTUALLY officially notified by postal mail, but often not till a couple of weeks after the increase happened.

Most of the CLI's I've requested myself have been over the phone because I'd rather talk to analyst than do it online. In those instances I've been notified while still on the phone, then I think probably also by mail a few weeks later.

A couple of times I have requested increases online. In those instances I was generally notified within about 24-48 hours, then also again by mail a few weeks later. I think they probably always send out mail notifications as a formality...unless maybe you've opted out of paper statements or something (I haven't on any of my accounts. Even though I do everything online I still like getting the paper statements monthly).

In general I think the quickest you'll likely get a CLI with most lenders is 3-6 months, depending on the lender. In my experience you're much less likely to get an auto CLI after the first year of opening an account (although it does happen), but of course can still request them yourself.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3750
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Credit line increases

Postby CarefulBuilder14 » Thu Oct 01, 2015 1:35 am

gregshelley@scrtc.com wrote:What is the quickest CLI you got and how do you usually get notified?

Synchrony. 2.5 mos auto. I was on the website and saw the higher CL. I got an email maybe 2 days later and a letter maybe a week after that.

Chase. 8 months, HP from my request. I saw the partially granted CLI (in the form of the new CL) from the Chase app the next morning. A letter a few days later. It might have been a waste of a HP, since I might have gotten one automatically soon thereafter.

Amex. 2.5 mos, SP from my request. I saw the higher CL on the app a few days after my request, with a letter a few days after that.

Discover. 14 months, SP from joint request. It's a joint account with a parent, and you need to request a CLI with both cardholders on the phone. Instant approval over the phone, with a letter a few days later.

*But, really, if a customer is wanted, the starting limit should be good. Rapid CLIs are usually a gimmick. I kind of think the case with Amex was that I got a low starting limit on EDP as a sign of their annoyance I wasn't using my other two Amex cards much. Once I put EDP to serious use, I got a nice limit quickly.

So, in short, the earliest indication of a CLI is generally checking the issuer's website or app for yourself.
Last edited by CarefulBuilder14 on Thu Oct 01, 2015 10:19 am, edited 1 time in total.
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

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Credit line increases

Postby Vermonster » Thu Oct 01, 2015 8:15 am

Chase CSP - $5k->$6.5k - Auto after 1.5 months but we put over 8k through it in that time and swiped it like crazy in Italy.

Chase Freedom - $2.7k->$5k - 2 years 8 months HP. We only had a Freedom for these 2+ years and put a lot through it. No auto cli. Had to take a HP and recon our request.

Amex BCP - $6.4k->$12.5k - Did the 3x trick at 61 days and got a counter offer.

Citi DC - $2.4k->$3.1k - SP request online computer picked a new limit for me. Still my lowest limit.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Credit line increases

Postby takeshi » Thu Oct 01, 2015 10:19 am

gregshelley@scrtc.com wrote:What is the quickest CLI you got and how do you usually get notified?

Would have had to have been one from AmEx back when 60 days was enforced for CLI requests on new accounts. I didn't get notified. I requested the CLI.

Discover was close behind that at 3 months. That was also requested.

However, there are certainly those that request/recon CLI's immediately on approval and those would definitely be faster.

ingramjuan
Centurion Member
Centurion Member
 
Posts: 265
Joined: Thu Nov 20, 2014 5:32 pm
Location: EARTH

Re: Credit line increases

Postby ingramjuan » Thu Oct 01, 2015 8:40 pm

gregshelley@scrtc.com wrote:What is the quickest CLI you got and how do you usually get notified?



Received a CLI from Discover 3 months after opening the card. I was notified by email. It took 6 months for AMEX.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3750
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Credit line increases

Postby CarefulBuilder14 » Thu Oct 01, 2015 9:25 pm

Unless someone's income/assets or credit history is improving by leaps and bounds, why should a CL grow quickly?

1. Getting full-time work or a better job.
2. Going from 8 months of history to 24.
3. Paying off old baddies or high balances.

Those are things that can make a person less risky.

But say a person has 24 months of clean CC history, and gets a new card. Three to six months later, many credit enthusiasts would feel a CL is somehow a sacred obligation for the lender. But has anything about the borrower really changed?
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

Whatamuji
Centurion Member
Centurion Member
 
Posts: 277
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Credit line increases

Postby Whatamuji » Sat Oct 03, 2015 1:07 am

I got a Auto CLI from Capital One after I think 6 or 7 months after I had the card. The increase of $500. I also got an Auto CLI from Synchrony Bank about 3 months after opening my Amazon Store Card. They increased me by $1000. I usually just ask for CLI's when I want them. I don't depend on the lender to give me one.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

beef.stu
Centurion Member
Centurion Member
 
Posts: 122
Joined: Wed Dec 26, 2012 12:03 am
Location: Bay Area

Re: Credit line increases

Postby beef.stu » Sun Oct 04, 2015 12:23 pm

Wasnt an auto cli, but requested a cli on my Citi double cash card on the day that it got it from 2k to 8.4k
(01/10) - Wells Fargo VISA Platinum
(05/10) - Techron Advantage
(10/12) - Amex BCE
(02/13) - Chase Freedom VISA
(09/13) - Discover It
(03/14) - Sallie Mae WMC
(09/15) - Citi Double Cash WEMC
(09/16) - US Bank Cash+ VISA Signature



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests