Is it a bad thing to click on 'Request Credit Increase' and have it actually work, every time?

[aphex]

I did it on a whim a few months ago and bam, twice the limit. Well today i was just looking over my account and thought, hey worth a try... BAM..... another fairly large increase....

I wont click on that damn button again, but did i just make a booboo?

 

[TuxDave]

Beats me. My credit card company has been automatically increasing my credit limit every couple of months. Right now the limit is higher than all my cash combined.

 

[aphex]

Originally posted by: TuxDave
Beats me. My credit card company has been automatically increasing my credit limit every couple of months. Right now the limit is higher than all my cash combined.

Well my card actually has a negative balance on it right now because they just sent me my yearly cash reward....

 

[BigJ]

Just recently got my credit limit extended to $1200 from $1000 after being with Citi Dividends Platinum Select for 2 months. Too bad I'll never charge that high cause I don't have the cash to pay it off.

 

[mchammer187]

maybe i should try

i only have 7.5K of available credit though and had the same card for 3 years

started out around 1K and i have never requested an increase

 

[TuxDave]

Originally posted by: aphex

Originally posted by: TuxDave
Beats me. My credit card company has been automatically increasing my credit limit every couple of months. Right now the limit is higher than all my cash combined.

Well my card actually has a negative balance on it right now because they just sent me my yearly cash reward....

SPEND!

 

[aphex]

Originally posted by: TuxDave

Originally posted by: aphex

Originally posted by: TuxDave
Beats me. My credit card company has been automatically increasing my credit limit every couple of months. Right now the limit is higher than all my cash combined.

Well my card actually has a negative balance on it right now because they just sent me my yearly cash reward....

SPEND!

The last thing i need to do is get in more debt....

Im a 1st year law student looking at 24k a year in loans

 

[Yzzim]

I just got my credit limit increased from $1000 to $2000

Bumped my FICO score up about 40 points as well (helps that I've been paying ontime).

Only have $246 left and I'm debt free (from credit cards, at least). Such a good feeling

 

[CrazyDe1]

You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

 

[DaWhim]

i will only do that on the phone. I always ask the rep to try to give me an increase WITHOUT pulling my credit report. btw, I have credit score of 680.

 

[SNC]

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Amex uses your credit score and stated income to dictate credit increases. They place very little on your history with just them. If you have lower than a 700 you are really out of luck for that large increase.
I have the ability to charge 40,000 per month. Not that I want to. Having a super large limit is not always a good thing. I was told my a CSR that you need a 740 to get a limit of 12,000 monthly.

 

[Yzzim]

My score is 646 and that was only after they raised my credit limit to $2000 from $1000

 

[TuxDave]

Originally posted by: SNC

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Amex uses your credit score and stated income to dictate credit increases. They place very little on your history with just them. If you have lower than a 700 you are really out of luck for that large increase.
I have the ability to charge 40,000 per month. Not that I want to. Having a super large limit is not always a good thing. I was told my a CSR that you need a 740 to get a limit of 12,000 monthly.

Sounds about right. Last time I checked my score was around 800 and I have a backup credit card of roughly $13,700 where all the increases were done by the credit card company. I monitor this card veerrrrrrrrrrrry carefully.

 

[lavagirl669]

you must have excellent credit.....

I don't even have a "click" credit increase option

 

[Mill]

Originally posted by: SNC

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Amex uses your credit score and stated income to dictate credit increases. They place very little on your history with just them. If you have lower than a 700 you are really out of luck for that large increase.
I have the ability to charge 40,000 per month. Not that I want to. Having a super large limit is not always a good thing. I was told my a CSR that you need a 740 to get a limit of 12,000 monthly.

Actually Amex is an enigma. There are those of us who have multiple cards with high limits, and Amex refuses to give me matching limits. My highest card with Amex is only 5k, wheres I have 10k on numerous other cards. My income is plenty, and I've had an account with them for several years. FICO wasn't an issue either.

 

[Mill]

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Heh, Fatwallet finance unite! Seriously, Amex has gone to great links to piss me off. I really think they care a LOT about account history and heavy volume. The best increase they've given me was from 2k to 5k, and that was on a Blue Cash. Of course even with financials they complain the account age isn't enough to go any higher at this time.

 

[EvilYoda]

hehe, I've always wanted to click mine, but know I shouldn't

 

[Dr. Detroit]

I did that once,

I asked for my limit to be raised from $1,800 to $10,000. Approvedthe next day!


Current balance = $0

 

[jagec]

Originally posted by: mchammer187
i only have 7.5K of available credit though and had the same card for 3 years

started out around 1K and i have never requested an increase

Pretty much the same thing here.

I bet I could get an increase if I asked. I don't want to...who carries that much CC debt? Current balance is $2000 (college ), but I'm going to pay that off before the end of the month.

 

[PowerMac4Ever]

Originally posted by: Mill

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Heh, Fatwallet finance unite! Seriously, Amex has gone to great links to piss me off. I really think they care a LOT about account history and heavy volume. The best increase they've given me was from 2k to 5k, and that was on a Blue Cash. Of course even with financials they complain the account age isn't enough to go any higher at this time.

What do you guys mean by "prepaying"?

 

[Mill]

Originally posted by: PowerMac4Ever

Originally posted by: Mill

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Heh, Fatwallet finance unite! Seriously, Amex has gone to great links to piss me off. I really think they care a LOT about account history and heavy volume. The best increase they've given me was from 2k to 5k, and that was on a Blue Cash. Of course even with financials they complain the account age isn't enough to go any higher at this time.

What do you guys mean by "prepaying"?

Paying balance way before due, immediately paying after charges and/or paying to a negative balance so you can then charge more than your limit. Just a way to increase your limit but not really. MBNA hates it as well IIRC.

 

[PowerMac4Ever]

Originally posted by: Mill

Originally posted by: PowerMac4Ever

Originally posted by: Mill

Originally posted by: CrazyDe1
You guys are lucky...my CC company won't let me prepay anymore. They think I'm abusing the limit by prepaying. Bank one is good with increases...everytime I ask they extend whatever I want. My local bank blows. Amex also blows...max the thing, pay off in full, repeat for 3 years straight. They won't ever give me more than a 500.00 increase.

Heh, Fatwallet finance unite! Seriously, Amex has gone to great links to piss me off. I really think they care a LOT about account history and heavy volume. The best increase they've given me was from 2k to 5k, and that was on a Blue Cash. Of course even with financials they complain the account age isn't enough to go any higher at this time.

What do you guys mean by "prepaying"?

Paying balance way before due, immediately paying after charges and/or paying to a negative balance so you can then charge more than your limit. Just a way to increase your limit but not really. MBNA hates it as well IIRC.

Hmm, I do this all the time with American Express.

 

[CTrain]

Amex is really weird.
My friend applied for the Amex Blue and got only a $2000 limit to start. He makes like $90K++.
I applied for it and got the same $2000.
I remembered asking for an increase after a couple of months and got denied.
Before I moved to Cali, I asked again and just randomly picked $6000 and got approved.
They are weird.
Citibank is the best CC.

 

[Kelemvor]

Thei higher your credit limit, the lower your credit score goes because it gives you the potential to get yourself further in debt if you were to max them out. We just went through and lower all our limits to normal amounts a couple weeks ago. Do I really need a $15k limit on a credit card? No. But when someoen does a credit check for a loan or mortgage or whatever, they see that as potential debt you could use at any time which is bad.

 

[Demon-Xanth]

My credit card company automatically bumped me twice and now wants me to request to be bumped again. But a $12,000 credit line is more of a liability at this point. They have literally sent me three flyers asking me to request the increase. I have never even had 10% of that amount on credit cards at any time.