topic Re: Credit Union Credit Line Increases? in Credit Cards

Credit Union Credit Line Increases?

Anonymous — Mon, 11 Mar 2019 02:54:04 GMT

Hi all!

Question for you all, how do credit unions treat credit line increases? for example, do they even increase or are you stuck with limit ? if they do increase typically how long do you have to wait to ask for increase? If anyone has some advice on my CU's below and if any experience getting CU increases would love to hear!

1. Logix CU Platinum Rewards (15k) since July 2018 ( perfect history, low balance, 20 year CU member)

2. Los Angeles Federal CU Platinum (5K) since July 2018 (perfect history, low balance, have paid off loans with them)

3. Alliant CU Platinum (5K) since July 2018 (perfect history low balance)

Thank you!

Re: Credit Union Credit Line Increases?

Anonymous — Mon, 11 Mar 2019 03:11:45 GMT

Credit unions generally will increase credit limits but they almost all want a hard pull to do so.

Best option is to call and find out the CU policy for the timelines but 6 months is usually somewhat safe to ask for one. A year definitely.

Re: Credit Union Credit Line Increases?

Anonymous — Mon, 11 Mar 2019 03:11:42 GMT

Each credit union/financial institution has it's own way of doing things.

I have FedEx credit union and they are NOT generous. I also have Navy credit union and they are known to be generous.

Re: Credit Union Credit Line Increases?

Anonymous — Tue, 12 Mar 2019 15:54:41 GMT

@Anonymous wrote:
Each credit union/financial institution has it's own way of doing things.

Agreed.

NFCU bumped one CC from 7.8K to 17.8K within 7 months of issue & another CC 20K to 25K within 4 months;

RBFCU increased CL from 8K to 20K within 4 months;

Penfed prefers my CL remain forever at 2K;

Alliant would rather I deal with another FCU entirely.

Re: Credit Union Credit Line Increases?

zerofire — Wed, 13 Mar 2019 21:20:32 GMT

Each CU has their own style of lending. The only thing consistent is that they like to follow reporting rules and make all new credit an HP including CLI's unless there is a grace period or special promotion.