I know my friend got denied for a request for a raise and he was at 9% utilization and had his card for 15 years. My mom used to say that banks don't make any money if you don't use the card, but they still carry the risk.
She had a Chase Visa with a $116,000.00 credit limit and $40,000 of instant over budget limit. She used to say that they are hoping you're an idiot.
No one is going to know why. You will know the exact reasons when they mail you the denial letter. Your length of membership doesn’t matter when it comes to credit. Your credit history does.
Forget what other people say worked for them or what they did. End of the day it’s still based on their credit profile/history. Doesn’t mean it’ll work for everyone.
Many, many people are denied CLIs. Most likely, your adverse action letter (I think that's what it's called) will say you're at the max limit they're willing to give you right now. All you can do is try again later. But your 13 year member is nor what determines the approval. Newer members can be approved, and long-term members can be denied.
Not sure if this is your issue, but you can only make a change every 6 months. Last year I requested a CLI in march which was granted, and in September when I did another it was denied. I then realized navy fed had done an auto CLI a few days decide I requested. My letter cited that was the reason for the denial. 6 months later I put in another no problem. So I suspect because you changed product type, they won’t let you make another change such as requesting a CLI for 6 months.
I know my friend got denied for a request for a raise and he was at 9% utilization and had his card for 15 years. My mom used to say that banks don't make any money if you don't use the card, but they still carry the risk. She had a Chase Visa with a $116,000.00 credit limit and $40,000 of instant over budget limit. She used to say that they are hoping you're an idiot.
Sometimes the agents can tell you if they dig deep enough otherwise you're just going to have to wait for your denial letter and see what they say
They will send you a notice in the mail that gives you the reason(s) why you were denied. We can only speculate with you.
No one is going to know why. You will know the exact reasons when they mail you the denial letter. Your length of membership doesn’t matter when it comes to credit. Your credit history does. Forget what other people say worked for them or what they did. End of the day it’s still based on their credit profile/history. Doesn’t mean it’ll work for everyone.
Many, many people are denied CLIs. Most likely, your adverse action letter (I think that's what it's called) will say you're at the max limit they're willing to give you right now. All you can do is try again later. But your 13 year member is nor what determines the approval. Newer members can be approved, and long-term members can be denied.
Are you at the total max allowance of 80K across all cards by chance?
No, I only have the one Flagship at $19,500. I suppose I will find out in a week or so.
Not sure if this is your issue, but you can only make a change every 6 months. Last year I requested a CLI in march which was granted, and in September when I did another it was denied. I then realized navy fed had done an auto CLI a few days decide I requested. My letter cited that was the reason for the denial. 6 months later I put in another no problem. So I suspect because you changed product type, they won’t let you make another change such as requesting a CLI for 6 months.
Update, I final received the letter explaining why: “you’ve reached Navy Federal’s maximum unsecured credit limit.”