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Might be time to give up on CLIs.... for now
Posted by
TheChosenOne
,
08 October 2009
·
53 views
Right now if it weren't for those GEMB no hard CLI requests, I wouldn't have made hardly any progress the past year on growing limits. For once it paid off to have so many GEMB cards. I have those 4 month periods marked on my calendar. Yep, its that bad. Its taken a lot longer than I had envisioned in 2007 when I first joined (as I read about all that could be accomplished) to reach milestones on total revolving credit due to the economy. A large part of it, in my opinion is the fact credit lines arent growing, at least for me. I have tried, the first 8 months out of the year. Ive even taken hard inquiries to CLIs. But now, I have come to realize it just isnt worth the hard pull anymore.
All it takes is one wasted hard inq to hit your credit report and the CLI denial before you realize, as another CBer mentioned, wasting the hard on a small increase when you can get a lot more using that inquiry for a new line of credit doesn't make sense. If im going to be denied its going to be for a nice, new, potentially big limit card, not a few thousand (if im lucky) on a limit increase. I've also noticed when trying to obtain CLIs, if you already have a decent limit and youre not maxed out, they want to know why you need more. Now, I really can't entertain these questions. Even if I took the time, its falling on deaf ears. Last time a credit analyst approached my request that way I politely ended the phone call and told them to forget it. Its always important to know when to fold your hand and not let those with CWH waste your time.
All it takes is one wasted hard inq to hit your credit report and the CLI denial before you realize, as another CBer mentioned, wasting the hard on a small increase when you can get a lot more using that inquiry for a new line of credit doesn't make sense. If im going to be denied its going to be for a nice, new, potentially big limit card, not a few thousand (if im lucky) on a limit increase. I've also noticed when trying to obtain CLIs, if you already have a decent limit and youre not maxed out, they want to know why you need more. Now, I really can't entertain these questions. Even if I took the time, its falling on deaf ears. Last time a credit analyst approached my request that way I politely ended the phone call and told them to forget it. Its always important to know when to fold your hand and not let those with CWH waste your time.
