Nachos Libres wrote:
With all this said - would it be ok for in several months (say 5 or so) to ask for another CLI? [color="red"] I can still function with $20k as my limit but it would be nice to have a little more room so I'm not having to make so many payments every month. If so, what would be a good amount to ask for? [/color] Our current financial goals are to buy a house (I'm currently saving for a 20% downpayment) and [color="blue"]I don't plan on getting any additional credit cards or financing any cars (we pay cash for those) so I want to make sure I don't negatively impact my credit [/color]when the time comes to apply for a house loan and I didn't know if asking for CLI's would negatively impact my score.
Thanks for any feedback you can give.
Call them up and ask. Under the circumstances, you may be surprised. They may be willing to give you a CLI right now, given the amount of money you're pushing through the account.
Paying cash and not applying for additional credit cards COULD impact your credit...negatively. One of the things lenders look for is a good mix of credit -- revolving, car loans, unsecured personal loans, HELOCS, etc. Not having these could be inhibiting your scores. Yes, you have a 755 from what Barclay is reporting. It's also important to know what the other 2 scores are as well. They may or may not be within that range. You need to know. That's a great score and you'll get the best terms in that score area, but since you're considering a mortgage in the future, those other 2 scores become even more important, since most mortgage lenders take the median score to base underwriting on.