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vjtorres88

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should i ask for CLI ?
I have a walmart discover card with a 7100 limit. But the balance is quite high at around 6400. I confirmed with them that they do a soft pull. Now I plan to have it paid off in around 10 months. But as you can see the utilization is quite high right now. So I was wondering if it would be wise to ask for a credit limit increase despite the high balance. I haven't had an increase in the past year. No late payments. Karma score is at 736. What do you think? Ask now? or pay it down a bit first. I have 2 other credit cards one at 0 the other at 310 out of 2100. If I should, how much should I ask for?

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You don't really get to ask for a certain amount of increase, you just ask for an increase. Most cards do not actually grant customer CLI requests. I paid my Capital One balances of in full and asked and got denied, the denial letter simply said I was denied because they do not grant CLI upon customer requests. It doesn't hurt to try, but it is common practice to not take CLI requests. However, if your servicers happens to accept requests, you are obviously more likely to get approval with a lower utilization rate, plus you will have more bargaining power. Your best bet is to just get it paid off and then use it monthly (gas or groceries) and keep paying it off every month and eventually they will increase it on their own. If you have a CK 736 now, paying that card off at least below 20% utilization will likely bump you above a 750 which is the next credit score threshold, I would at least wait until you are above 750.

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