Credit Cards

[elaine829]

i really WANT TO ASK FOR GUIDELINE INCREASE ON MONDAY BUT I am NOT SURE IF I SHOULD WAIT TILL THE END OF NEXT Month WHEN I PAY THE BALANCE OF 180 DOLLARS OFF . MY CREDIT LIMIT IS 900 DOLLARS. SHOULD I WAIT OR GO AHEAD AND SEE WHAT INCREASE I WILL GET? I am NOT PLANNING ON SPENDING ANYMORE ON THE CARD UNTIL MAY. MAYBE SMALL PURCHASES OF 20 DOLLARS TO KEEP CARD ACTIVE. GETTING A BIGGER INCREASE MAKES YOUR UTILIZATION GO DOWN ON YOUR CREDIT SCORE SO THAT'S WHY I ask.

Message Edited by elaine829 on 03-01-2009 04:58 PM

[haulingthescoreup]

I don't know if there is a particular tactic that helps with Macy's GLI's, but in general, I always think it's wisest to app (including asking for CLI's/GLI's) when your reports are as good as they can be. I'd pay and let the payment show up.

btw, if you could not use all caps when posting, you'd probably get more replies. It's hard to read, and it's generally interpreted as shouting.

[Schoolbuskid]

My Macys credit limit is a measley 100.00, i just concerned at how they are treating my account. Since they granted me this small credit line, i dont have any bad items in my credit report, just a collection for 200. My other balances are pretty high, but i am getting them down, i just wondering if it would be worth it to ask for a GLI!

Do they look at your account activity, is it a hard pull of soft pull?

[elaine829]

They determine guideline increases every three months if you call. I really dont know how they look at your account to determine guideline increases by credit score or by activity. Sorry i couldnt aswer your second question.

[elaine829]

What was your score when you applied was it the 503? thats why your credit limit is so low is your score higher now? also have you been buying and pif. Maybe you will get a increase this time. my score was 630 when i applied and i got a 800 credit limit after 3 mths i called for a guideline increase and only got a 100 dollars. Im at my 6th mth hopefully the increase is better. 

Message Edited by elaine829 on 03-01-2009 05:12 PM

[Schoolbuskid]

I  cant remember what my scores were, but they are at 584, 585, and 574 now! All because of my other balances, that tax money is going to come in handy in getting these down! I think they were in the low 600s when i applied!

[llecs]

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elaine829 wrote:
DID ANYONE HAVE A BALANCE ON THEIR CARD WHEN THEY ASK FOR THE GUIDELINE INCREASE? ALSO HOW MUCH WAS YOU SPENDING PER MTH?

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I actually saw higher GLIs (relatively speaking) when I had at or near $0 balances for both Macys and Bloomies. My last round of GLIs came with about $300-$500 balances that extended beyond 3-4 months old (balances were higher) and my spending for the past year was about $3000 for Macys (in fairness, $2000 of that was for a bed) and for Bloomies, my spending for the year was about $700 with about $500 of that in the past 2-3 months.

[elaine829]

What was the guideline increase with the balance on your macy card?

Message Edited by elaine829 on 03-01-2009 07:57 PM

[llecs]

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elaine829 wrote:
What was the guideline increase with the balance on your macy card?

Message Edited by elaine829 on 03-01-2009 07:57 PM

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If directed here, my last GLI was last month for $300 ($1500 to $1800) with a balance of $450 or so on the store card with about $1500 on the special purchase acct (0% apr). My prev. GLI was in August and had about $100 or less balance (maybe even $0) and that went from $800 to $1500 and didn't have the other acct then.

[slarano]

i was approved for a Macy's card in May '08 for $400. since then i haven't called in to ask for a CLI, but after viewing my recent report and calling into CSR for clarification, my current limit is now $2500, and it jumped from $400 originally to $600, then the large jump to $2500. my scores are in the mid 600's, and i've always had a $100-$200 balance on the card throughout.