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Started By
Message
Getting limits increased on a cc
Posted on 3/22/14 at 8:23 am
Posted on 3/22/14 at 8:23 am
Will my bank increase my limit even though they don't make money off of me? I pay my entire balance every two weeks. Doing that allows me to save more money since i'm not swiping my debit card all the time, but I check my statement and they haven't earned a single penny of interest. I doubt they will increase my limits seeing my patterns.
This post was edited on 3/22/14 at 8:25 am
2
Posted on 3/22/14 at 8:31 am to MontyFranklyn
Yes, they will. Give yourself six months after account opening or last request for an increase and have at it.
Posted on 3/22/14 at 8:38 am to Joshjrn
quote:That is what I was thinking as well. If they double my limit it will only help my credit score. I may just open up another card at another bank
Give yourself six months
Posted on 3/22/14 at 9:10 am to MontyFranklyn
They still make money every time you use the credit card. The merchant doesn’t get all of the money you charge. The credit card company gets to keep a percentage of each purchase.
Posted on 3/22/14 at 9:20 am to MontyFranklyn
Any idea how high they will go?
I've got one card at $18,000 and one at $20,000. I don't know anyone with limits as high as mine and many of them make much more money.
I've got one card at $18,000 and one at $20,000. I don't know anyone with limits as high as mine and many of them make much more money.
Posted on 3/22/14 at 9:43 am to I Love Bama
You're pretty up there. Without knowing more, I'd say you don't have much room unless you put ALOT of spend on that card. If they see you use the shite out of it and you're responsible, you might get a little more.
But you're right, another issuer will get you more bang, since they seem quite comfortable matching a previous credit line from another bank. You'd probably get approved for at least or near 10,000 from another bank up to around the limits you currently hold.
ETA: I mixed posters up but yall should get the gist
But you're right, another issuer will get you more bang, since they seem quite comfortable matching a previous credit line from another bank. You'd probably get approved for at least or near 10,000 from another bank up to around the limits you currently hold.
ETA: I mixed posters up but yall should get the gist
This post was edited on 3/22/14 at 9:46 am
Posted on 3/22/14 at 10:05 am to I Love Bama
quote:I was on my parents card in HS/college and found out after looking up my credit scores recently that the card has a $45,000 limit
Any idea how high they will go?
I've got one card at $18,000 and one at $20,000. I don't know anyone with limits as high as mine and many of them make much more money.
Posted on 3/22/14 at 12:19 pm to PlanoPrivateer
quote:
They still make money every time you use the credit card. The merchant doesn’t get all of the money you charge. The credit card company gets to keep a percentage of each purchase.
This is correct, they're called "swipe fees". If you use the card enough they'd probably be happy to increase the credit limit.
Posted on 3/22/14 at 4:35 pm to I Love Bama
quote:
I've got one card at $18,000 and one at $20,000. I don't know anyone with limits as high as mine and many of them make much more money.
You have your own business, right?
Talk to your bank. I have a business rewards card through my bank. It's underwritten by the bank and the minimum limit is $25000. I have to spend $100k a year but that isn't a problem for me. I'll get over 200000 miles from it this year.
Posted on 3/22/14 at 5:27 pm to foshizzle
quote:Add in the fact that I pay off the entire balance every two weeks, I bet they love me.
This is correct, they're called "swipe fees". If you use the card enough they'd probably be happy to increase the credit limit.
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