topic Re: LIMIT INCREASE QUESTION ? in Credit Cards

LIMIT INCREASE QUESTION ?

Anonymous — Wed, 18 Nov 2015 21:14:25 GMT

Hi,

Please help me with this questions :

I have 2 credit cards capitalOne with $ 6500 limit on it and I owne about $ 200 balance, and Amex card with $ 1000 balance on it and limit about $ 3000.

I am trying to increase my credit score so what I should do ?

Do I ask for incress on my credit cards limits and how hard to get the incress ?

What us I should do please ?

I have a home loan and no car loan.

Thanks so much

Re: LIMIT INCREASE QUESTION ?

Anonymous — Wed, 18 Nov 2015 21:22:20 GMT

To maximize your score I would recommend a third card. Only allow one card to report a ballance less than 10% of it's limit and pay the other two off in full just before the statements cut. You can also pay down you American Express card down to 10% and request a 3xCLI to aid your utilization.

Re: LIMIT INCREASE QUESTION ?

tntexans72 — Wed, 18 Nov 2015 21:41:31 GMT

Since you already have a mortgage and not looking to get an installment loan, I would consider adding 1-2 more cards...maybe add a Chase, Citi to name a couple. Op will chime in good luck.

Re: LIMIT INCREASE QUESTION ?

taxi818 — Wed, 18 Nov 2015 21:49:12 GMT

Asking for increase would lower your utilization and bring your sscore up. also paying your card down. Which in this case is leave small balance on 1 card. You could get another card. but honestly 3 cards are not really necessary. it helps mostly with utilizatin. Not sure how much a boost you would get but it would go up for sure.

Re: LIMIT INCREASE QUESTION ?

tntexans72 — Wed, 18 Nov 2015 22:06:45 GMT

CL: 9500

util: 1200

You are right around 15% util or so which is good. Sometimes the banks will not risk anymore credit exposure with you. Only way to find out is requesting a cli. Alternative is to open more trade lines. You don't need a new house? Auto loan? That's the quickest way to increase your limit IME.

Re: LIMIT INCREASE QUESTION ?

SouthJamaica — Wed, 18 Nov 2015 22:10:40 GMT

@Anonymous wrote:
Hi,

Please help me with this questions :

I have 2 credit cards capitalOne with $ 6500 limit on it and I owne about $ 200 balance, and Amex card with $ 1000 balance on it and limit about $ 3000.

I am trying to increase my credit score so what I should do ?

Do I ask for incress on my credit cards limits and how hard to get the incress ?

What us I should do please ?

I have a home loan and no car loan.

Thanks so much

By increasing your limit you decrease your utilization, which increases your score.

And both Capital One and Amex are soft pull.... i.e. no 'hard inquiry' on your credit report.

So merely click on the link and apply online for a credit limit increase on both cards.

It's not necessary to add another card.

Re: LIMIT INCREASE QUESTION ?

Anonymous — Wed, 18 Nov 2015 22:32:16 GMT

1. Get a cli on your amex first. 3x
2. Let the new limit report. Ur score will go up.
3. Let amex report balance
4. Pay off cap one.
5. Ur score will go up more.

Re: LIMIT INCREASE QUESTION ?

tntexans72 — Wed, 18 Nov 2015 22:32:52 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Hi,

Please help me with this questions :

I have 2 credit cards capitalOne with $ 6500 limit on it and I owne about $ 200 balance, and Amex card with $ 1000 balance on it and limit about $ 3000.

I am trying to increase my credit score so what I should do ?

Do I ask for incress on my credit cards limits and how hard to get the incress ?

What us I should do please ?

I have a home loan and no car loan.

Thanks so much
By increasing your limit you decrease your utilization, which increases your score.
And both Capital One and Amex are soft pull.... i.e. no 'hard inquiry' on your credit report.
So merely click on the link and apply online for a credit limit increase on both cards.
It's not necessary to add another card.

Sorry...wow! You have a lot of CC I see. I must catch up! Lol ok back to the original thread.

Re: LIMIT INCREASE QUESTION ?

Anonymous — Thu, 19 Nov 2015 01:36:29 GMT

Hi,

I just want to thank evrybody for the help and the responds to my question.

Sorry I just forgot to mention that I do have a store card that the limit on it is $ 700 and the balance on it is $ 300 so I did not know if it will make any different to my sutation ?

What do you think now ?

Thanks again

Re: LIMIT INCREASE QUESTION ?

Anonymous — Thu, 19 Nov 2015 01:44:37 GMT

PIF the store card.

Re: LIMIT INCREASE QUESTION ?

Anonymous — Thu, 19 Nov 2015 01:51:37 GMT

I am sorry what PIF means .

Sorry I feel stupid asking.

Anonymous — Thu, 19 Nov 2015 21:45:01 GMT

Yes, store cards count towards your overall limit.

Re: LIMIT INCREASE QUESTION ?

taxi818 — Thu, 19 Nov 2015 22:01:42 GMT

@Anonymous wrote:
Hi,

Can anybody please tell me if the limit on a Store Card account do counts toward your total limit with my othere credit cards to bring your ratio down ?

Thanks

Yes and credit card counts. Store or otherwise.

Re: LIMIT INCREASE QUESTION ?

Anonymous — Fri, 04 Dec 2015 02:27:44 GMT

To increase your credit score, I recommend paying off your credit card balances (statement balances) each month. Also keeping your credit utilization 10% or lower (for example not exceeding $1K on a $10K total limit. Having a combination of credit such as credit cards and a mortgage. Hope this helps.