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Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007
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I cannot seem to get a credit line increase on my visa or...

I cannot seem to get a credit line increase on my visa or master card becuase of a dmp listed on my cr. However, my department store cc's are giving cli - will this help my score? Dillard's just brought my credit line up from $4400 to $4900 and Victoria Secrets just upped it from $900 to $1300. Both cards are under 15% utilization.
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MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
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Re: I cannot seem to get a credit line increase on my visa or...

I think they all count towards uril%, so they should help
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007
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Re: I cannot seem to get a credit line increase on my visa or...

Thanks I am hoping as I got declined for a new card yesterday. So I am not applying for any new cards until January, 2008.
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
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Re: I cannot seem to get a credit line increase on my visa or...

If you have baddies in the past 12 to 18 months, that can slow down those CLIs. No cure except to just be diligent, keep UTI down, pay on time every month. Otherwise, just keep on keeping on.
- - - -
in a credit-scoring postnuclear Stone Age...
Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007
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Re: I cannot seem to get a credit line increase on my visa or...

No baddies in 4 years, just amex showing a dmp.
Regular Contributor
Pants
Posts: 155
Registered: ‎06-12-2007
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Re: I cannot seem to get a credit line increase on my visa or...

My question is. Are you enrolled in a DMP? Depending on which credit cards you have, some cards will kick you off the DMP if you apply, are granted or use revolving credit.
 
If the CLI increase doesn't involve a pull. You should be OK.
 
 
Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007
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Re: I cannot seem to get a credit line increase on my visa or...

I was and AMEX is the only that reports it.  Chase does not.  I finished the dmp with AMEX but from what I hear, it will stay on there for 7 years.
Regular Contributor
Pants
Posts: 155
Registered: ‎06-12-2007
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Re: I cannot seem to get a credit line increase on my visa or...

[ Edited ]
I think if you are no longer on a DMP. The notation "Consumer credit counseling" or "payments managed by a Debt Management" plan should be removed immediately when you complete the program. It is something you should try to dispute or correct on your report... I will quote a thread from Tuscani... This is the actual link...

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=6967
&query.id=8639#M6967

"When you've paid off each account, most creditors automatically remove the reference to CCCS because at that point it does, in fact, become obsolete. The account is no longer being paid through CCCS, it is closed and paid off. However, if you're nervous that a creditor might leave that comment line in place afterward, just withdraw the account from CCCS a couple of months before it would be paid off. Let it bill at the next bill date (at that point it is no longer in CCCS, ergo no CCCS remark) and then pay it off in full. Result? No ongoing reference at all that the account had been in CCCS." Pay extra through CCCS each time you can do so, even if it's not every month. The quicker you get the accounts paid off, the sooner you're done with CCCS and thus the sooner the remarks will come off of your credit report."

Message Edited by Pants on 07-19-2007 05:55 PM
Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007
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Re: I cannot seem to get a credit line increase on my visa or...

Pants,
 
Thank you for findind that thread for me.  I have confirmation from AMEX that I am finished with the program and will be reporting correctly in August.  I will pull my CR once I receive my statement and see how it is showing.  If incorrect, I will dispute.
 
With the program I was in with AMEX, I could not withdraw early, or I would have had to pay the interest in full (I was on an interest waiver program with them - and I understand they are no longer doing that program.  It is now a flat 9.9% for their dmp).
Regular Contributor
Pants
Posts: 155
Registered: ‎06-12-2007
0

Re: I cannot seem to get a credit line increase on my visa or...

[ Edited ]
I am on a DMP myself and you are correct. Amex has a new program where the interest is now 9.9%. BUT.. American Express will not budge on the due date. The date is too strict to where I am unable to make the payment using my DMP. I would be past due when my DMP disburses. SO.. I am paying for Amex myself. Amex is not reporting me using a DMP. I am making the payments.

At first I was upset we couldn't get Amex to work with the DMP.. but in a way I am glad Amex doesn't have the notation in my credit report.

One day late and I am back at 31.99% interest. 48 months is a long time. I hope I don't screw that up..

Message Edited by Pants on 07-19-2007 10:10 PM

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