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First CommonWealth Bank - Personal Line of Credit - Line Increase??

Valued Member

First CommonWealth Bank - Personal Line of Credit - Line Increase??

I wasnt sure quite which sub-forum to post this? So I figure General Topics fits for the most part.

 

I have a Personal Line of Credit through First CommonWealth Bank - $2,500

I have had it for about 6 - 7 months now.

Initially got it for a home project, and am in the proccess of paying it off.

normally paying more then the min. monthly based on work pay lol, and in a couple months when my auto loan is payed i'll be kicking up the monthly payments even more! Smiley Happy

 

Back at the time of applying I wasnt really aware of this forum. Also was not aware of how P-Lines of Credit Reported on files. as in Revovling Credit or Loan style.

 

But since then I've become aware that it reports basicly like a credit card effecting my revolving credit limits.

 

First off, I don't know what everyone's experiance with Lines of Credit, or First Commonwealth Bank for that matter lol. But can I request a line increase? At the bank itself, through a number, whichever??

 

Secondly since my util. for the individual account is still on the high side, if I can should I wait to get it down more before asking?

 

I ask because of the way I use the line I don't want to max out / have high utility usage for the line again which can hurt my scores until I pay them down.

______________________________
MyFico (Oct 8, 2013):
Experion: 701 -- Equifax: 705 -- TransUnion: 717

Discover IT: $2,650 -- Capital One Platinum $1K -- Cap One QuickSilver $3K -- Chase Freedom $3K
Message 1 of 2
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Valued Member

Re: First CommonWealth Bank - Personal Line of Credit - Line Increase??

oh, nevermind i guess, I contacted customer service email, and they got back to me rather quick, quicker then anticipated actually lol. Aperently they cannot just add credit onto an existing line but must create a new esablished line of credit with a higher limit. which basicly I'm taking that would create a new hard inquiry.

 

I was hoping the simplier route would have been avialable, but it's not, slightly unfortunite on my part but you live you learn.

Well I think I'll just sit on what i have for now, trying to build up credit for the future. My score will rise as I pay this down and continue other good credit habits and more opertunities will open.

______________________________
MyFico (Oct 8, 2013):
Experion: 701 -- Equifax: 705 -- TransUnion: 717

Discover IT: $2,650 -- Capital One Platinum $1K -- Cap One QuickSilver $3K -- Chase Freedom $3K
Message 2 of 2