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Message
Do some credit card companies give credit line increases only to those with heavy usage?
Posted on 8/13/19 at 1:03 am
Posted on 8/13/19 at 1:03 am
I ask this because I have several cards with 6-8k credit limits that I use every month, pay in full every month, but never go over maybe 6-8% of usage.
I've never missed any payments, and my credit score is in the 780 range.
I don't ask them for an increase, but they have not automatically given me an increase for at least 3 years.
The cards I'm primarily talking about are Chase and Barclays.
Discover Card, on the other hand, has consistently raised my credit limit.
I've never missed any payments, and my credit score is in the 780 range.
I don't ask them for an increase, but they have not automatically given me an increase for at least 3 years.
The cards I'm primarily talking about are Chase and Barclays.
Discover Card, on the other hand, has consistently raised my credit limit.
This post was edited on 8/13/19 at 1:11 am
5
Posted on 8/13/19 at 1:32 am to cypressbrake3
You need to ask for an increase every 6 months.
My capital one, discover, and citibank have all given me increases when I request them every 6 months. It doesnt effect your credit, count as inquiry, etc. Most of them you can request an increase within their app or on their website. Takes just a minute or two.
If you are denied it'll just say try again later basically.
My utilization is usually reported around 1% because I pay them off several times a month.
Now you may eventually top out, but it shouldnt be at 6-8k.
My capital one, discover, and citibank have all given me increases when I request them every 6 months. It doesnt effect your credit, count as inquiry, etc. Most of them you can request an increase within their app or on their website. Takes just a minute or two.
If you are denied it'll just say try again later basically.
My utilization is usually reported around 1% because I pay them off several times a month.
Now you may eventually top out, but it shouldnt be at 6-8k.
This post was edited on 8/13/19 at 1:39 am
Posted on 8/13/19 at 8:02 am to cypressbrake3
The one that cracks me up is Kohl's.
Our Chase Visa and our Bank of America Visa both have credit limits approaching 30K.
We have store cards for Lowes and Home Depot that have CLs between 8K and 10K.
We have a JC Penney store card with $9K CL
Then there is Kohls. When we opened it, we were given a CL of... $300. This was 6 years ago. Wife uses it at least once per month, and we pay it off each month. They have never raised the limit on their own. Twice, she has requested a raise. First time it went from $300 to $500 and second time it went from $500 to $750.
We have never come close to $750 (I think the most she's ever charged in a month on it is like $450) but it just makes me laugh that the limit is so low.
Our Chase Visa and our Bank of America Visa both have credit limits approaching 30K.
We have store cards for Lowes and Home Depot that have CLs between 8K and 10K.
We have a JC Penney store card with $9K CL
Then there is Kohls. When we opened it, we were given a CL of... $300. This was 6 years ago. Wife uses it at least once per month, and we pay it off each month. They have never raised the limit on their own. Twice, she has requested a raise. First time it went from $300 to $500 and second time it went from $500 to $750.
We have never come close to $750 (I think the most she's ever charged in a month on it is like $450) but it just makes me laugh that the limit is so low.
Posted on 8/13/19 at 6:10 pm to cypressbrake3
Applied for a chase card a few weeks ago..
Opening credit limit of $25,000
I’ve been a discover user for 4 years now... started at like $ 8,000 I believe and just recently applied for a credit increase and they gave me up to $13,000
I never put more than $3,000 on discover and pay entirety each month
Credit score of 815 give or take
Opening credit limit of $25,000
I’ve been a discover user for 4 years now... started at like $ 8,000 I believe and just recently applied for a credit increase and they gave me up to $13,000
I never put more than $3,000 on discover and pay entirety each month
Credit score of 815 give or take
Posted on 8/14/19 at 7:01 pm to cypressbrake3
When I got my Capital One card, it was at 4K, i asked and was appoved for a 3K increase in 5 months, and then to 13K a year in. Year 2 it went to 18K and now I am at 23K...I paid the bill a month early IN FULL and had charged on it no more than 5% at any one time.
Posted on 8/16/19 at 6:47 am to cypressbrake3
My understanding is that is true and I’ve heard you have to borrow a bit each month as well
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