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- Posts: 321
- Joined: Mon Jan 02, 2012 1:21 am
- Location: Denver
cspaniol wrote:Hi All,
I was curious when you open your mail, what makes a credit line increase letter worthwhile to you? Also what details make you want to sign up? I get so many and I never know what to make of them all.
Thanks in advance!
When I was young and foolish an increase would trigger a "Let's go out to dinner" response. But I was literally borrowing money back then because I didn't have it. Now a CLI is just a "Oh that's nice, I'll never touch it since I don't borrow anymore." A creditor can look at your credit report and know that you haven't used revolving credit in a long time and chances are you probably won't.
If you REALLY need a CLI and you can't get it, then you should go the OTHER route ... use emotion. "My son was in an accident and the hospital needs $___, can you please help us out and give us X% increase?" Remember it is an actual person who decides who gets an increase or not. Reasons like, "I really want to lower my debt to credit ratio, so just bump my credit so I don't have to pay it down" will not go over very well. Yes, people really say those things.
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