Reply
Member
sjf0sauf09u109
Posts: 16
Registered: ‎10-12-2012

credit limit increase: How much should I ask for

 Hi,

I wish to increase my credit line and I was wondering what amount is considered reasonable.
Is there a standard that people ask for? like 50% of current limit or doubling the limit.
I have 8k on chase and 6k on citi.
Is this reasonable to ask for double? I am asking because I want to make my chase 15k and 10k for my citi.

Thank you for your time reading my post and I appreciate all your input!

Frequent Contributor
Juan123
Posts: 494
Registered: ‎04-16-2011

Re: credit limit increase: How much should I ask for

ask for an unreasonable amount and let them counter with their best.


Starting Score: 575 (As Of Early 2011)
Current Score: TU: 767 EQ: 732 EX; 742 (As Of Feb 2012)
Goal Score: 750


Take the FICO Fitness Challenge

Long way to go ^_^
Frequent Contributor
TheConductor
Posts: 421
Registered: ‎07-24-2012

Re: credit limit increase: How much should I ask for

I wouldn't say "Ask for an unreasonable amount". I can imagine some creditors, if you asked for say $1 million, would just close the account then and there.

 

A better rule of thumb is to ask for a little bit more than you want and feel you can reasonably expect to be approved for.

 

As a guideline, 2x is reasonable with most creditors, and for certain creditors (GE for example) even 3x or 4x is reasonable.  

 

In OP's case, I'd probably ask for 17k and 12k on the cards, and settle for the 15k and 10k I really wanted.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12) Current: EQ 675 (myFICO 9/26/13), EX 712 (CreditSesame FAKO 10/9/13) , TU 696 (WalMart 10/3/13) Goal: 700+ x3
My Wallet: Amex BCP $10k, Amex Zync NPSL (> 10k), Chase CSP VS $9.2k, C1 Venture VS $5k, Amex SPG $4.5k, Barclaycard Apple V $2k, Walmart (Store) $1.2k, Chase Freedom V $600, BoA Cash Rewards V $500, Best Buy Rewards MC $500
Dream Wallet:Barclaycard Arrival WMC (replace C1 Venture), Amex Platinum (replace Zync eventually), Andrews FCU Global V (chip + PIN for travel). Otherwise, pretty happy with my portfolio now.
Valued Contributor
Epcot
Posts: 2,760
Registered: ‎10-10-2012

Re: credit limit increase: How much should I ask for

[ Edited ]

Are Chase and Citi HP's for CLI?


Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 780 EX 770 TU 774
App free since 4/11/13
Mega Contributor
Creditaddict
Posts: 16,868
Registered: ‎10-23-2007

Re: credit limit increase: How much should I ask for

Chase is HP and if you can take the HP I would call directly into backdoor and try to do it with Rep while on phone if they have any questions.

Citi should be soft and do it right online... if you are at $6k, $12-$15k would be where I would be asking.

Chase Id ask for $20k.

 

citi will counter and be instant most likely, chase im not as familiar with.

as long as you are asking tunder the $25k range I don't see much harm in what you ask for and i have never heard of an account getting closed on the spot because you asked for $1 million, why would that matter?

If you do automated system over phone for your $500cl Walmart and ask for a $1 million increase, if the phone system could laugh it probably would, but don't think you are going to hear sorry you are stupid to ask for that we have closed your account you are so stupid!

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Established Contributor
CruzImperial
Posts: 863
Registered: ‎07-04-2012

Re: credit limit increase: How much should I ask for

Are you sure cities is soft with online forms?
Recently it was a hard for someone I know. And rejected Btw.
Fico Scores: . Walmart TU 748 . App free since Aug 2013 .

Cap One Journey 500 | Discover IT 1k | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 6k | Barclays Apple 2.5k | BoA CR 800 | CSP 7.2k
Mega Contributor
Creditaddict
Posts: 16,868
Registered: ‎10-23-2007

Re: credit limit increase: How much should I ask for


CruzImperial wrote:
Are you sure cities is soft with online forms?
Recently it was a hard for someone I know. And rejected Btw.

within last year I have not seen HP done onlin when CLI request was done... but it seems to be like Macy's sometimes the computer kicks it for review and they will pull or just pull but 90% i feel it's suppose to be soft unless you want to push above computer offer or push above no offers on requests for years (maybe type of card product)

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Valued Contributor
armbenderc
Posts: 1,337
Registered: ‎09-11-2012

Re: credit limit increase: How much should I ask for

I did Citi CLI online, and it was soft pull. Actually, it said your credit was not pull at this time of credit increase.

 

I asked for 2x and got it. It has been 1 year since I open account, so YMMV.

 

Chase, from reading on here was HP. However, if you just opened the account, from experience with them it was SP for me.. YMMV

 

Open acct for Freedom with 2k, call and ask for CLI when I got my card, they used the same report and got the CLI almost 2x.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Valued Contributor
navigatethis12
Posts: 1,851
Registered: ‎01-24-2012

Re: credit limit increase: How much should I ask for

As others said, double the limit is always good. I have never known a lender to just deny without giving a counter offer of some sorts.

Mega Contributor
Creditaddict
Posts: 16,868
Registered: ‎10-23-2007

Re: credit limit increase: How much should I ask for


navigatethis12 wrote:

As others said, double the limit is always good. I have never known a lender to just deny without giving a counter offer of some sorts.


I have had creditors not counter BUT that's not because I asked for to much, it's because I was just flat out denied!

and I think we hear denied and then hear like oh I thought I should go from $100 to $10k... THATS NOT THE REASON!!!!

 

it's like amex and the 3x, Amex employees TELL YOU 3x and we still see daily that someone did a request but was afraid and ended up with what they asked for... others say i did ask for 3x and got $0 so then we are back to that person got denied, i don't want to get denied so i didn't ask for that much..... :smileyhappy:

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+