After how many months should you call and ask for a credit limit increase? I got a MC 3 months ago, have always made payments on time, and want to increase my limit by an additional 2,500.
2007-09-23 08:08:33 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
no time like the present...go for it.
2007-09-23 08:16:26 · answer #1 · answered by JRM 3 · 0⤊ 0⤋
Not long enough. After 6 months, some credit cards will automatically increase your limit if you've been paying the card in full evey month. If you don't have any other credit history, you probably will have to wait a year and probably won't get that much of an increase.
Why do you need such a large limit increase? Do you have a lot of business travel expenses? Carrying a balance on a credit card is a bad idea. Only charge what you can afford to pay off evey month. Save on the interest and stay out of debt.
2007-09-23 08:21:00 · answer #2 · answered by bdancer222 7 · 1⤊ 0⤋
With some companies it's once per year, and with others it may be as little as 3 months. If you call, it won't be a negative, so don't be afraid to call. I wouldn't expect to get such a large increase immediately. I have a credit score over 750, and the most they usually give me is $1000 increase, so don't have high expectations.
If you need a $2500 increase, I would suggest applying for another card, but don't keep balances on both cards, and for heaven's sake, pay these things off timely, and soon, otherwise your debt will in increase.
Finally, if you really need this increase, is it an emergency? If not, ask for the $1000, and then save up the $1500, then pay off $1500 from the card, and then charge it.
2007-09-23 08:21:27 · answer #3 · answered by Steveo 5 · 1⤊ 0⤋
You can ask as many times as you want. What you have to remember is that every time you ask they run your credit report, which is going to count as an inquiry. Inquires hurt your score. I would suggest you only ask twice a year. Allowing six months between each one. Depending on what you are using the money for this may not be your best outlet to draw upon. There are a variety of low int rest loans that are available.
2016-05-17 05:13:47 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You have nothing to lose by inquiring.
2007-09-23 08:19:19 · answer #5 · answered by The Authority 1 · 0⤊ 0⤋
Don't do it, wait till you can pay cash. Run from the cards run, run . Please listen they will RUIN your life!!!
2007-09-23 08:51:42 · answer #6 · answered by Barcadcadacada 6 · 1⤊ 3⤋