02-12-2013 04:55 PM
I have a few credit cards which I'm trying to reestablish my credit for the future....new home! I have a Capital One secured card, Orchard Bank (now capital one), Merrick Bank, and a couple retail store cards that were used for Christmas then paid off...target, victoria secret, walmart, and kohls. I used my first few cards regularly and carry balances, sometimes maxed out, but I read different posts about people getting CLI and I'm just curious with the cards i listed, how can I get them to raise the limit? ANyone have any experience? I pay them on time every month. ive had my cards for about 8-10 months so I'm not really sure what to expect.....
02-12-2013 05:20 PM - edited 02-12-2013 07:36 PM
Capital one will give you a CLI (usually $100-$300) by the time you hit six months with this secured card ans unfortunally you cannot request a CLI on your own it's up to Cap 1 whether you get this Increase or not and of course you can send them more money up to $3000 and they will increase your limit. As for GE Walmart and Victoria Secret (Comenity Bank) well you can try to request a CLI every six months on internet (if you have online access to your acc) or by phone.... The good news is all these cards will give you a CLI (if you qualify) without getting a credit hard inquiry so there's no harm to try .... I cannot tell you about Khols or Target but i think almost every creditor will ask you for 6 months of on time paymets before granting you an increase (some excemptions apply: Amex will grant you a CLI 60 days after your account is created) Of course your're credit wothiness and income play an important factor when requesting a CLI