Re: Can Someone Tell Me.....
01-24-2013 07:45 AM
You can't do it just once and maxing it out cards does not look good to lenders. 90% of the limit is considered maxed out. Lenders that are reviewing your credit want to see a high balance to show you are using the card fruitfully, but not too high. There has to be a pattern of this not just one occurrence. You also have to be proactive and not reactive when seeking higher limits. These two go hand in hand. It isn't all about score even though the final result is a higher score. There are steps that I outlined in my previous posts that you have to take to get there. It isn't a one step then results thing.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Last App: 4/5/13 Gardening until July 2014