Ever had a credit limit increased automatically?

CC companies (you can see their views on your credit report) tend to pull your credit report once a year (some pull it quarterly). If your balance is relatively low to your credit limit and your FICO score has increased, and you have ontime payment history...they'll bump it up.

great info guys thanks.

Am I to assume the increase in credit available will offset any hard inquiries involved in the process?

interesting. I guess if it is not borrower initiated then it counts as a "soft" inquiry...?

I might take a look at my CR and see if anything shows up. Anyway, it is good news as I am hoping this will help my score over time as it improves my debt/credit ratio by double on this account.

very common. I worked at a bank, and we had an automated credit limit increase process. we would run it every 6 months or so, depending on other factors.

The bank would only give me a $2k credit card when I worked there, which surprised me b.c they were my employer and knew exactly how much I made. They seem to increase it every year. I still get my employee T&Cs despite having left them 10 years ago.

You may want to request an increase if you are reaching more than 30% of your credit limit each month even if paying it off. That negatively effects your credit score.

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I had to get it raised manually.

I'm hoping they notice that I am putting about $25,000 a year in charges on a card that now has a $3K limit and realize I make an OK amount of money and that its paid off at all times.

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I've recently taken an aggressive hold of my credit report/score so I will tell you what I learned.

1. Your bank makes a "soft" inquiry every month on you. I have no idea why but Capital One does. I don't have any outstanding loans with them.

2. Don't ever try to manually raise your limit. It counts as a hard inquiry and often times they won't raise it anyway. Best thing to do is leave the card cleared out or with little balance and let it sit. My interest rate was cut from 23 to 9.9% on my Bank of America by doing that. Limit hasnt changed though

3. AMEX charge card is your best bet for your finances. I'll never use another credit card again.

4. Hard inquiries on your report will hurt you. I've made alot of changes over the past 1.5 years and I probably have had 7-8 hard inquiries (Insurance, car loan, new credit card, increase limit, etc.) and it dropped my score.

Hard inquiries only come from you initiating credit, don't do it unless you have to. I went from high 700s to middle 700s- a 25 point drop over it.