New to the forum, looking for some CLI advice.

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Joined: Fri Jan 11, 2013 7:03 pm
Location: WA

New to the forum, looking for some CLI advice.

Postby Zyr » Fri Jan 11, 2013 8:45 pm

Hey all,

I'm hoping to use this year to build my credit lines on my main two cards. I'll have zero hard pulls by May and I'll have held my newest card for a full year as well.

My cards at the moment are:

Amex BCE - Nearly a year old with a starting limit of $2900, my balance has never exceeded $500 and my bill has always been paid in full. Haven't asked for an increase and haven't received an automatic one.

Chase Amazon Rewards - One of my older cards, I've had it since 2009. It also has the lowest limit at $1900, I've never received an automatic CLI and I've never requested one myself. My balance tends to stay around $200-$300, but it has had higher usage back before I had the BCE. I'm pretty frustrated by the low limit on this card.

BoA Platinum Plus - I've had it since 2007, the only reason I even keep it is for the sake of my AAoA. It started at a $1700 limit but I requested and received a modest increase to $2500 last year. I'm not interested in raising it further right now, as I only charge $10 or so every so often to keep activity on it.

I just turned 29 and my FICO via Experian was 780 last year. Since then the hard pull for opening my mortgage in 2010 has fallen off and the Amex card and it's utilization has been added to the mix. The hard pull from Amex's approval will be gone by May as well.

So! I'd like to improve both the Amex and Chase cards, but I consider Chase the priority. I'm planning to drop about $2k on improving my home theater later this year via Amazon, and it's really frustrating that despite having the money sitting in my bank account and planning to pay it off immediately, I have to dance around the credit limit on a card I've had for 5 years.

Ideally I'd like to double both of them at a minimum. I'd be thrilled with $6k on each. Worst case, I suppose, I could apply for a new card via Chase and try to merge the credit line. I've heard enough stories about Chase being difficult to get a CLI (or asking for a CLI and getting a decrease instead...) that I'm a bit nervous, honestly.

Any advice on going about getting increases? Would keeping utilization really low on both accounts help? Should I ask for one via Chase or Amex first? Am I possibly asking for/hoping for too much?

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Postby Robrus1 » Mon Jan 14, 2013 9:21 am

Ask them both on the same day, but wait until May when you'll have no inquiries. Ask a for a little higher limit than what you need, so if they counter offer you'll get in the ballpark of what you need.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

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Postby jrv » Mon Jan 14, 2013 10:52 am

You can try to get a CLI without having them pull your credit first. Just tell the CSR that you don't want your credit report pulled. It's worked for me in the past. The only downside maybe that you may have to wait 6 months if you're declined. At that point you can try another CLI with or without a hard pull.
AMEX Platinum NPSL, Member Since 92
AMEX Blue 15K
PenFed 11K
PNC Visa 20K
First National Bank Omaha Platinum Visa 25K
Citi Simplicity 11K
50K Total

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