Auto CLI from Citi, need more Limit what to do ?

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4 posts
rsudhakar948
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Auto CLI from Citi, need more Limit what to do ?

Postby rsudhakar948 » Fri Aug 07, 2015 7:31 am

Hi,
the only credit card i have is citi double cash back credit card. I applied for this card in FEB 2015 and was approved with a credit limit of $4900.

As of today i have completed 6 months with Citi and i see a automatic credit line increase of $1000. I used heavy balance close to $3000 during the first 5 months and paid back all the balance 2 months back. Since 2 months my monthly statement balance is $50.00. My latest statement balance is $38.00


I would like to request more credit limit today what are my chances of credit line increase again, would citi accept my credit line increase request as they just did automatic credit line increase of $1000.00

As i am not using heavy balance since 2 months. And i have high utilization ratio and good credit score of 720. Would citi approve my request for credit line increase or do i have to wait for a month or so to request a credit line increase.


Your inputs are highly appreciated.


takeshi
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Re: Auto CLI from Citi, need more Limit what to do ?

Postby takeshi » Fri Aug 07, 2015 7:50 am

Initial limits, APR's and CLI's are all determined based on what one's credit and income qualify for. Despite the popularity of the meme on credit discussion sites, do not rely solely on usage. It is impossible for us to tell you what CLI you may or may not qualify for. The only way to find out for certain is to request the CLI and in many cases that will incur a hard pull.

rsudhakar948 wrote:And i have high utilization ratio

That won't help you. If you want the best possible odds then get your credit in the best possible shape. Get your revolving utilization down and address any other deficiencies.

rsudhakar948 wrote:Would citi approve my request for credit line increase or do i have to wait for a month or so to request a credit line increase.

Time is only relevant for Citi's policiies and I can't comment on them. You can contact Citi directly to verify if you qualify to request a CLI. CLI's are never simply exchanged for time if that's what you're asking.

whit
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Re: Auto CLI from Citi, need more Limit what to do ?

Postby whit » Fri Aug 07, 2015 10:15 am

A friend applied and got a pretty low limit of 6k, she needed more because she was going to take advantage of the 0% intro to pay off her line of credit--which was a few thousand higher.

So she called in and asked for an increase, explained the situation and they were able to accommodate.

Vermonster
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Re: Auto CLI from Citi, need more Limit what to do ?

Postby Vermonster » Fri Aug 07, 2015 11:08 am

As of now there is a way to get a soft pull CLI. but it is completely computerized so things like a high util will hurt your chances of getting a lot. If you go online and click "account management" you will find a request CLI. If it says;
It's easy to find out if you qualify for a credit limit increase. A credit bureau report will not be requested and you will receive an instant decision.


Then you are good to ask. I asked during my second statement period and was granted a small one even though I was using 90% of my credit limit. I asked again last week and was declined, and today it shows that I can ask again. I am thinking it is going to be a once a statement thing, but I will be testing that theory in a bit.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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