Increase limit?

Question

How can I get my limit increased on my credit card? I had it for a year.

Answer 1

Pay larger amounts off at a time. So say your balance is $5,000.00 and say they ask for a payment of $75.00, give them a payment of like $500.00. It seems like the less you look like you need it the higher your limit goes up. Also making larger payments some times makes them think that you may be trying to pay off your bill, they really don't want us paying off our cards. They like to keep people deep in the debt.

You can also ask them if they will raise your limit, but I would wait for about another year before doing that since it has only been a year that you have had it. Just be really careful not to get to deep into it as it's so hard to get it all paid off. I'm working on getting rid of my card. I will keep one and just use it here and there and pay it off every month. I'm tired of credit cards.

It just get old giving all your money to them. I've built my credit and I'm tired now. But really just keep your head above water or they will suck you down into it really deep and you will struggle with it for years. No one should ever get into a mess such as that. Alot of people screw them selves over by doing that and it is so hard for them to recover. When I make payments I pay like $600.00 or more just to drop the bill faster. Also another thought pay every payment on time always, never be late even once as you will screw your self up.



Good luck with it.

Answer 2

Here is some advice I took from http://creditapply.org/blog/ under the posting "How do I increase my credit card limit"

* Ask periodically
You can probably request that your credit limits be increased about once every six months as long as you put yourself in a position to deserve an increase.

* Improve your credit In general, the better your credit, the thicker your initial credit lines tend to be. Also the maximum credit line reachable is higher for cards issued to people with good credit.

* Abide by the terms
First and foremost, credit card holders need to remember that to get a higher credit card limit, they must abide by the terms and conditions of the credit card company or bank.

* Respect the limit
Always spend within your credit card limit because doing so means that you are capable of controlling your expenses.

* Use the card regularly.
Don’t keep your cards for emergency use only. If you use your credit cards sparingly, banks and credit card companies will be unable to understand your spending and pay-back behavior.

* Pay off the balance
Never make minimum payments. Instead, try to pay for the entire outstanding amount. This will be a prove of your credit worthiness which is the most important thing for getting a higher credit card limit.

* Avoid late payments
Not only will your payment increase, but you may also have to pay an additional fine for not clearing bills on time. This will also dim your chances of getting a higher credit card limit.

Answer 3

Is it a student card? Some credit card companies will increase your credit limit if you increase your standing in the college/university. (Freshman to Sophomore gets $X increase, Sophomore to Junior gets $X increase... based on number of credit hours completed.)

The easiest thing to do is ask. Depending on your history with them and your general credit score/report, you may qualify. If not, you should have PLENTY of unsolicited credit card offers in your mailbox at home. Say that you want to have $X of total credit and would rather only hold one card...

If you are denied an increase of credit limit, ask them why and see if you have some way to remedy the situation.

Just realize that it's easier to get into debt if they increase your credit limit and if you feel it's too high, you can also call to decrease your credit limit.

Answer 4

It really depends on your credit score and payment history. If you have a decent score and a good payment history with the credit card company just ask them to increase it. They might especially if your limit was low in the first place. If you score is low through poor money management you might want to evaluate why you want to increase your debt load and concentrate on building up your score with timely payments.

A common pitfall of many is to over extend and get caught up in a cycle of maxing out and never paying off the card. It's so much better to have the ability to save up for the items and pay cash. Better to spend the future interest on yourself than to max out and give the bank's your hard earned money for years and years. Once you've maxed out you are forced to live again within your means less the interest payment of course!

Answer 5

Call them and ask if you qualify for a guideline increase, request that they do not pull a hard inquiry. (though they might anyway)