12-06-2007 02:01 AM
12-06-2007 04:52 AM
asyiasmami wrote:Ok, a few questions for you guys..This is regarding credit limit increases. I have a Cap 1 and Orchard bank card that are low credit limits. The Cap 1 is 1,000 and Orchard is 300. Util on Cap 1 is over 50% and the Orchard is PIF. What should I be doing in regards to if I want a credit limit increase? My payment history has been excellent but I do not use the cards...I also have Target and Nordstrom store cards. I have read through these forums that if paying well then they easily convert these into VISA cards. My credit limit for Target is $500, and Nordstrom is $700. Again, excellent payment history but I do not use these cards at all.. These cards also over 50% util. I recently spoke with Target and they said they cannot convert into visa based on my credit, even though I have a good history.. They had advised me to use the card more often, and maybe this will change their mind. Am I doing this all wrong? Should I be using these cards more often.. Utilization is key in getting credit limit increases and getting them converted into VISAs??I also have read through these forums about them being generous with CLI after holidays.. Is this correct?? And do i have to physically go in the store to request this??Thanks a bunch,
12-06-2007 04:57 AM
12-06-2007 01:53 PM
12-06-2007 02:00 PM
12-06-2007 02:06 PM
12-06-2007 04:04 PM
12-06-2007 04:06 PM
12-06-2007 04:10 PM
So this you are referring to the statement closing date, correct? So I should PIF, then wait until my statement reports 0 balance then start using the card and PIF or keep util low before the statement date..? Not due date..?
12-06-2007 04:11 PM
Also, If I have a lot of credit cards and store cards, how do I keep tabs on everything. This sounds pretty confusing. Sorry, I am very new to all of this!PS- Would it be in my best interest to PIF my store cards and not use them anymore..? I know they have high interest rates. Credit cards look better on my credit report?
The best thing you can do is rotate which cards you use. If you have balanes reporting on too many accunts that will also ding your score. Try somefinancial software like Quicken or Money. I actually have Money set my due dates on the statement date. It remind me 7 days prior.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.