Should I try to CLI my 2-month-old Barclaycard?

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tschmelcher
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Should I try to CLI my 2-month-old Barclaycard?

Postby tschmelcher » Tue Jan 07, 2014 9:27 pm

A little over two months ago I got Barclaycard Arrival (with AF) with $10K CL and I've made it my primary card. I PIF with autopay on all my cards, but I'm now realizing that $10K is quite tight for the amounts I'm putting on this card. I'll often have to pay down the balance before the due date, which will be a nuisance. $10K is one of the lowest CLs I have.

Should I even bother trying to CLI it so soon? Is it too late to call the recon line to ask for more without causing another HP?

Note that I also applied for two more cards after this one, which were approved.

My score when I got the card was 741 and it was slightly higher when I got one of the next ones (753 IIRC).


samhradh
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Postby samhradh » Tue Jan 07, 2014 9:44 pm

In this case you're probably better off calling and speaking with a rep than doing an online CLI. Rep should be able to explain whether it will be soft or hard pull and will see the history of butting up against limit. I'm actually quite curious as to what they'll say.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

AMEXPlatino86
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Postby AMEXPlatino86 » Wed Jan 08, 2014 2:52 am

Personally I think that it's best that you wait at least another month specifically since one you just got the card a couple of months ago and on top of that you sought additional credit lines so it's possible that you are giving off the image that you are just burning through credit lines.

But I agree with samhradh. When the time is right, call and talk to a representative.

It's crazy though that 10k isn't enough lol.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

MemberSince99
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Postby MemberSince99 » Wed Jan 08, 2014 6:56 am

From reading over on FICO, you MAY get a CLI by asking, but if you can it would be best to wait 6 months before asking. That's just the best info I've read on it with Barclays. Two months seems pretty quick to ask.


However the amount you are putting through the card may be a factor, so if you do go for it, please let us know what they say.

takeshi
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Postby takeshi » Wed Jan 08, 2014 11:52 am

6 months is the generic suggestion. We really don't know Barclay's criteria or your credit well enough to form a better suggestion tailored to you. Calling would be your best bet.

tschmelcher wrote:Note that I also applied for two more cards after this one, which were approved.

My score when I got the card was 741 and it was slightly higher when I got one of the next ones (753 IIRC).

Again, same issue. Additionally, approvals on cards Y & Z don't really mean anything with regard to a CLI on card X. For a given person and situation the CLI could be granted. For the next it could be denied. I myself have had CLI's both approved and denied after getting cards approved. There's no direct causal relationship there. Again, we don't have the information to provide a definitive answer.

tschmelcher
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Postby tschmelcher » Wed Jan 08, 2014 7:53 pm

Thx for the replies. I think I will hold off for a month so that there's a longer history of repayment on the account. Regarding the other cards that I got, my concern is that they'll see that in the report and get paranoid.

When calling a rep for this kind of thing, would you suggest to start with the generic customer service line?

MemberSince99
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Postby MemberSince99 » Wed Jan 08, 2014 8:32 pm

Good question. I might go for a credit analyst that number is 866-408-4064


Yeah they can get spooked if they see a bunch of new accounts and inquiries in the first 6 months, HOWEVER, that is truly a YMMV situation. From what I have read, I believe it's much more likely if you were marginal to be approved and had to recon with them. I got a card from them and opened a bunch of new cards and they didn't care as have many others, but the ones who report that Barclays decreased their limit or closed their account just went nuts and opened like 10 new accounts in a short period of time or something like that. That possibly could spook any lender if you start running balances and Barclay's does tend to be sensitive to that kind of thing. But if you only opened a couple and didn't have to recon to get approved and got a good limit which you did, you will probably be just fine.

tschmelcher
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Postby tschmelcher » Thu Feb 27, 2014 4:41 pm

So I called today, which was probably the best possible day for it since my most recent statement close shows that I spent more than my credit limit in a 30-day period but I also had already paid it down to 60%. The credit analyst said she could consider me for an increase but that it would have to be a hard pull since it had been too long since they pulled the report for opening the account. She was very noncommittal about my chances, so I decided to wait for an auto CLI instead. (She also said she couldn't predict when an auto CLI would happen.)

MemberSince99
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Postby MemberSince99 » Thu Feb 27, 2014 4:58 pm

Yeah I had a feeling that trying for an increase that soon was pushing it. Wait for the auto CLI, which should happen after 6 months if it does, otherwise if 6 months passes and nothing happens after, give them a call and see what they can do.

tschmelcher
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Postby tschmelcher » Thu May 22, 2014 4:38 pm

Update: within the last few days (almost exactly 6 months since opening) they silently gave me an auto CLI to $12,500.



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