CLU vs CLI

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3 posts
jupiter
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CLU vs CLI

Postby jupiter » Wed May 15, 2013 10:56 am

This might be a stupid question, but I'm going to ask anyway. I heard that when you use more credit, you're more likely to get a CLI. If that's the case, then is it much harder to get one if you keep your CLU low? I ask because I tend to keep mine below 10%, but I have a fairly low limit ($500 on both cards), so I would like to let them grow. I don't want to use too much, since I know the more you use, the "worse" that is. But I am curious about this since I don't want my limits to be stagnant.

Thanks!


mdl28
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Postby mdl28 » Wed May 15, 2013 3:53 pm

Utilization is just as important. Your case, you have low limits which can be difficult. Use it as much as limits allow, just payoff before statement cuts. This way you will show your card lender lots of usage and also relfect low utilization by paying in full before statement cuts each motnh. You win both ways, just stay on top of it.
MDL

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rockyrock
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Postby rockyrock » Thu May 16, 2013 2:36 am

mdl28 wrote:Utilization is just as important. Your case, you have low limits which can be difficult. Use it as much as limits allow, just payoff before statement cuts. This way you will show your card lender lots of usage and also relfect low utilization by paying in full before statement cuts each motnh. You win both ways, just stay on top of it.


+1

I was just on the phone yesterday asking for a CLI for my Hawaiian Air Visa; it was at $1k and I wanted to raise it to $3k. She pointed out that the way it was being used was perfect. Although it was being maxed out each month I was regularly making two payments a month. They really like that--high usage and pay off monthly. She raised it to $3k and tried to get me higher but that's all I wanted.

My wife will continue to spend the same on it but instead of reaching 100%-125% each month it will be closer to 35%-40%.

Good luck!
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