Walmart reduced my limit...what to do?

[Anonymous]

Last summer, Walmart reduced my credit limit from 1000 to 215 last summer.  It probably happened because I nearly defaulted on student loans.  But now it's been about a year, and I have had ZERO problems since then- how should I go about asking for my limit increase?  Should I be nice or hardball?  The Walmart card is for my x-mas shopping, and it really does me no good at only 200- I need at least twice that.  ideas?

[Creditaddict]

Just call, you could get an increase every 6 months of good history.

[FretlessMayhem]

That was over a year ago, but you might be able to call in and ask for your original CL to be reinstated per your good history.

It's worth a shot. The worst they can do is say no.

[Anonymous]

Well I wanted to report back to everyone.  I am not happy, but not too disappointed, I guess.  They offered to raise my limit by 90 bucks.  So now my limit is 290.  It just p&^(*& me off, because my limit was like 1500 before.  She did say that I could call again in 4 months to get more.  I was very polite in explaining that my Walmart card is used primarily for christmas purchases, and that if I didn't have a limit of at least 500 by then, there would really be no point in having the card at all.  So *sigh* we will just see what happens in 4 months.  I am depressed.

[Anonymous]

Try not to feel too depressed. You could be starting from the bottom of the barrel like me and not even qualify for the Walmart card and have to pay cash for all your Christmas shopping. 

[Anonymous]

COngrats as long as you pay on time! U will have the xmas CL u want! GL pay on time ....

[thrasher865]

Don't wait four months, call them back and explain that the card does you no good at that limit and tell them you want to close it.  When they ask why tell them they dropped your limit to a worthless amount and see if they offer to raise it more.

[Anonymous]

Yeah but the problem with that is that I've had this account since 2001, and I think maybe it will hurt my score if I actually close the card, so I would be bluffing!  Should I actually bluff, does that ever work?

[thrasher865]

It would work a lot better if you weren't actually bluffing, because you would take it a lot farther.

Don't worry about it hurting the age of you accounts in the short term.  It won't affect the average age for another 7-10 years, not sure the right number for it to drop off.  The only reason you should keep it open is if it were one of your few oldest accounts.  If so, you could try bluffing anyway.

[Anonymous]

Just remember, They may call your bluff. I have heard of that happening as well. If you dont mind them calling your bluff, then go for it!

I guess it all depends on how much you like the card.