topic Re: Credit Card Limit Increase Strategy in Credit Cards

Credit Card Limit Increase Strategy

Anonymous — Thu, 05 Apr 2012 16:59:37 GMT

Hi Everyone.
I'm trying to re-establish my credit to include prime cards with high credit limits. Currently, I have a Capital One with a $2000 limit and an Orchard Bank with $400. Is it possible for a merge my orchard bank and capital one together. I rather not have orchard bank apart of my credit file. I know the only this could be possible is when the acquisition is completed. If I'm able to due that, my limit will incease. I was told by the Capital One representative that my account would automatically get a CLI in 5 months. In the end, if everything works perfectly, that'll move me up to $3000 on my capital one.
Afterwhich, I plan to call Chase and ask for a CLI. I would them to grant me $3000.
I'm waiting for my mortgage to show up on my credit report, it'll reflect a $3000 payment, further indicating I have the income to repay any debt. Any tips or techniques to increase these limits?

Re: Credit Card Limit Increase Strategy

Anonymous — Thu, 05 Apr 2012 19:02:45 GMT

I highly, HIGHLY doubt Capital One will merge your cards. They would rather you re apply for one of their dead end cards. Also, if your are accurate in your statement that you will recieve a CLI in 5 months, I would assume that it is safe to say that that will be your one and only CLI from Capital One. I would just falt out close Orchard if you are wanting to get rid of them that badly.

As far as getting a CLI from Chase, I believe that it is a HD if it is initiated by the customer. You really need to look at how long you have had your Freedom account open to determine how much you think you should ask for in an increase. I haven't seen many people have starting limits below $500 with Chase, so I would think that $500 is their minimum credit line, for them to approve a $2500 increase, all at one would be, in my opinion, tough.

How long as your account with Chase been open?

Re: Credit Card Limit Increase Strategy

Anonymous — Thu, 05 Apr 2012 19:42:01 GMT

I just got an approval for a Chase Freedom last week. I plan to wait 6 months to a year before I ask for a CLI.