Secured credit card got converted to unsecured. Raised limit!

[gluck]

Heres the deal. I have been using a BA secured card for more than one year now with a limit of $500. A few days ago I received a letter from BA saying that my card wasn't secured anymore. Last night I called up the CS to get my limit raised. She checked her records and asked me what new limit I wanted. I said atleast $1500 and then she says that I can have a limit of $8000. Yuppie so I have a limit $8000!! I couldn't imagine that. I wan't to know if this is something normal or was I lucky to get my limit raised that much. I have just started establishing my credit. Its been more than one year now.

 

[KK]

So did you get your 500 dollars back?

KK

 

[woowoo]

It's normal
You took a step up on the credit ladder.
Congrats

 

[StageLeft]

$8k, wow that's not bad growth.

 

[gluck]

Originally posted by: KK
So did you get your 500 dollars back?

KK

I have a checking account with BA. So they offered me a secured card with $500 limit and an annual fee of $29.00 for which I had to deposit $99.00 in a saving acct. Yes they have taken off the hold on my savings acct. so now I can withdraw my $99. I was charged another annual fee $29.00 again this year but I made them take it off.

 

[Orsorum]

I really need to just call and ask to have my limit raised to at least $2000. I've gotten raises once a year for two years (500 to 1000, 1000 to 1500), but I've never actually asked for one.

 

[gluck]

Originally posted by: Orsorum
I really need to just call and ask to have my limit raised to at least $2000. I've gotten raises once a year for two years (500 to 1000, 1000 to 1500), but I've never actually asked for one.

They didn't take the initiative to raise my limit. It was still on $500. I use my card alot, even pay rent with it, so wanted to get my limit raised as I was always worried about going over the limit and had to use my check card always.

 

[Demon-Xanth]

I had one of my cards get it's limit raised automatically from 2500, to 5500, then 8500. Not once have I ever had more than $650 on credit cards at any one time. The most amusing item was when one company sent a 9.9% card application, which I decided to turn in, followed by a 8.9% a week later (which I turned in, 8.9 is better than 9.9), and then they topped it with a 7.9%. I ended up getting approved for the first two, canceled the 2nd, and the first I got the 7.9 fixed rate. I love it when a company competes against itself 😀

 

[gluck]

The rate for me doesn't matter coz I have made it a point that I will never go over the limit and wan't to pay everything without keeping any dues. So I never wan't to pay interest to these people.

 

[Liviathan]

This will be the start of a slow fall into credit card debt!

 

[DaWhim]

$500 to $8000? :Q
More power to you :beer:

 

[gluck]

Originally posted by: Liviathan
This will be the start of a slow fall into credit card debt!

I realised that the moment I checked my statements. Now I don't have to worry about crossing my limit and may end buying more.
Hope I don't fall prey to this bait.