@Andy77 wrote:
I am very very happy to report in the next month I will be paying 88k of the total 93k I am in the hole for on my cards.
If I pay off this and don't use the cards a lot, would the credit card companies CLD me ? Does this happen ?
Now, stupid question...how do credit card issuers justify increasing limits if you, lets say have a 33k limit on a card, zero balance and you only charge and PIF 500.00 a month ? Why would they increase your limit ?
Thank you
Yes - It can/does happen if you don't use the card for months on end. I experienced a CLD from $20k to $13k a few years back on a no AF Visa card I only used once in a 16 month time span. It is important to keep cards active (use them all at least once every 3 to 5 months). The charge(s) can be rather small - say $40 total for the month(s) you use a sock drawer the card.
Note: Allowing a no annual fee card to go inactive and remain inactive - particularly bank cards - can result in closure. A few posters have reported closure due to inactivily in a 7 to 12 month timeframe. I have not heard of that happening in fewer than 7 months.
As far as CLIs are concerned, you may not get any automatic ones but there is often an on-line option to request one. I suspect the on-line options typically look at income relative to CL - not really how much you use the card (except for "high" utilization).
Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
