Getting limits increased on a cc | TigerDroppings.com

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MontyFranklyn
Alabama Fan
T-Town
Member since Jan 2012
4633 posts

Getting limits increased on a cc


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 at 8:25 am



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Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
5725 posts

re: Getting limits increased on a cc


Yes, they will. Give yourself six months after account opening or last request for an increase and have at it.





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MontyFranklyn
Alabama Fan
T-Town
Member since Jan 2012
4633 posts

re: Getting limits increased on a cc


quote:

Give yourself six months
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






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PlanoPrivateer
LSU Fan
Frisco, TX
Member since Jan 2004
1326 posts

re: Getting limits increased on a cc


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.





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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
31953 posts

re: Getting limits increased on a cc


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.






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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18118 posts

re: Getting limits increased on a cc


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



This post was edited on 3/22 at 9:46 am


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TigerTatorTots
New Orleans Pelicans Fan
Mandeville, LA
Member since Jul 2009
64948 posts
 Online 

re: Getting limits increased on a cc


quote:

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 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






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29665 posts

re: Getting limits increased on a cc


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.






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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
10559 posts
 Online 

re: Getting limits increased on a cc


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.






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MontyFranklyn
Alabama Fan
T-Town
Member since Jan 2012
4633 posts

re: Getting limits increased on a cc


quote:

This is correct, they're called "swipe fees". If you use the card enough they'd probably be happy to increase the credit limit.
Add in the fact that I pay off the entire balance every two weeks, I bet they love me.






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