Does it matter that I rarely use my credit card if I want to ask for a $1000.00 increase to my limit?
The reason I want to raise it is because I want to start charging my college tuition to my card instead of paying in cash every time. Of course I'll pay off my credit card bill right away, but I was wondering if they may decline me an increase because I currently rarely use my credit card.
2007-06-12 15:32:22 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
It doesnt matter if you never use the card almost at all. As long as youve showed payments that were on time, and continue to have a good credit standing, you shouldnt have a problem getting it upped. Unless you just opened it. Once youve had a card a year, a raise is often put to the line, or you can request one.
2007-06-12 16:07:25 · answer #1 · answered by wickedwings1982 3 · 1⤊ 0⤋
Keep track of these 5 things and a good credit score is ensured.
1. Use the credit card only when absolutely essential. Pay your regular expenses by cash or a debit card. This will help you budget and not go overboard with credit card debt.
2. Follow repayment schedules like religion. Don't miss out and invite late payment fees, increased APR rates and blocked reward programs.
3. Don't stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest.
4. Get rid of multiple credit cards. Although this might sound difficult, but if you are struggling to repay on time and, juggling with the repayment dates is causing you to default- it's time to think. If there is a genuine need to keep multiple credit cards, then try to automate their monthly payments. This will ensure that you don't default unwillingly and face the negative consequences.
5. Never go out on a borrowing spree. Always watch the credit limits and try to stay below 30% of your credit limit. Maxing out on your credit card doesn't go well with credit card companies and invites negative remarks in credit reports. Read more from: http://www.credit-card-gallery.com/article/264,5_not_to_miss_things_for_a_good_credit_score
2007-06-13 03:38:32 · answer #2 · answered by grierGRIER h 3 · 1⤊ 0⤋
As long as you always pay your credit card bill on time, they should have no problem raising your limit by $1000. It certainly doesn't hurt to ask.
2007-06-12 22:37:47 · answer #3 · answered by Tom K 7 · 1⤊ 0⤋
it's based on your payment history and length of time you have had your card.
2007-06-12 22:37:59 · answer #4 · answered by gone fishing! 5 · 1⤊ 0⤋