topic Re: credit limit increase: How much should I ask for in Credit Cards

credit limit increase: How much should I ask for

Anonymous — Mon, 29 Oct 2012 17:01:05 GMT

Hi,

I wish to increase my credit line and I was wondering what amount is considered reasonable.
Is there a standard that people ask for? like 50% of current limit or doubling the limit.
I have 8k on chase and 6k on citi.
Is this reasonable to ask for double? I am asking because I want to make my chase 15k and 10k for my citi.

Thank you for your time reading my post and I appreciate all your input!

Re: credit limit increase: How much should I ask for

Anonymous — Mon, 29 Oct 2012 17:06:09 GMT

ask for an unreasonable amount and let them counter with their best.

Re: credit limit increase: How much should I ask for

TheConductor — Mon, 29 Oct 2012 17:20:55 GMT

I wouldn't say "Ask for an unreasonable amount". I can imagine some creditors, if you asked for say $1 million, would just close the account then and there.

A better rule of thumb is to ask for a little bit more than you want and feel you can reasonably expect to be approved for.

As a guideline, 2x is reasonable with most creditors, and for certain creditors (GE for example) even 3x or 4x is reasonable.

In OP's case, I'd probably ask for 17k and 12k on the cards, and settle for the 15k and 10k I really wanted.

Re: credit limit increase: How much should I ask for

Epcot — Mon, 29 Oct 2012 17:31:55 GMT

Are Chase and Citi HP's for CLI?

Re: credit limit increase: How much should I ask for

Creditaddict — Mon, 29 Oct 2012 17:55:44 GMT

Chase is HP and if you can take the HP I would call directly into backdoor and try to do it with Rep while on phone if they have any questions.

Citi should be soft and do it right online... if you are at $6k, $12-$15k would be where I would be asking.

Chase Id ask for $20k.

citi will counter and be instant most likely, chase im not as familiar with.

as long as you are asking tunder the $25k range I don't see much harm in what you ask for and i have never heard of an account getting closed on the spot because you asked for $1 million, why would that matter?

If you do automated system over phone for your $500cl Walmart and ask for a $1 million increase, if the phone system could laugh it probably would, but don't think you are going to hear sorry you are stupid to ask for that we have closed your account you are so stupid!

Re: credit limit increase: How much should I ask for

Anonymous — Mon, 29 Oct 2012 18:06:58 GMT

Are you sure cities is soft with online forms?
Recently it was a hard for someone I know. And rejected Btw.

Re: credit limit increase: How much should I ask for

Creditaddict — Mon, 29 Oct 2012 18:10:06 GMT

@Anonymous wrote:
Are you sure cities is soft with online forms?
Recently it was a hard for someone I know. And rejected Btw.

within last year I have not seen HP done onlin when CLI request was done... but it seems to be like Macy's sometimes the computer kicks it for review and they will pull or just pull but 90% i feel it's suppose to be soft unless you want to push above computer offer or push above no offers on requests for years (maybe type of card product)

Re: credit limit increase: How much should I ask for

armbenderc — Mon, 29 Oct 2012 18:22:56 GMT

I did Citi CLI online, and it was soft pull. Actually, it said your credit was not pull at this time of credit increase.

I asked for 2x and got it. It has been 1 year since I open account, so YMMV.

Chase, from reading on here was HP. However, if you just opened the account, from experience with them it was SP for me.. YMMV

Open acct for Freedom with 2k, call and ask for CLI when I got my card, they used the same report and got the CLI almost 2x.

Re: credit limit increase: How much should I ask for

navigatethis12 — Mon, 29 Oct 2012 18:24:30 GMT

As others said, double the limit is always good. I have never known a lender to just deny without giving a counter offer of some sorts.

Re: credit limit increase: How much should I ask for

Creditaddict — Mon, 29 Oct 2012 18:29:13 GMT

@navigatethis12 wrote:
As others said, double the limit is always good. I have never known a lender to just deny without giving a counter offer of some sorts.

I have had creditors not counter BUT that's not because I asked for to much, it's because I was just flat out denied!

and I think we hear denied and then hear like oh I thought I should go from $100 to $10k... THATS NOT THE REASON!!!!

it's like amex and the 3x, Amex employees TELL YOU 3x and we still see daily that someone did a request but was afraid and ended up with what they asked for... others say i did ask for 3x and got $0 so then we are back to that person got denied, i don't want to get denied so i didn't ask for that much.....

Re: credit limit increase: How much should I ask for

navigatethis12 — Mon, 29 Oct 2012 18:57:31 GMT

@Creditaddict wrote:
I have had creditors not counter BUT that's not because I asked for to much, it's because I was just flat out denied!
and I think we hear denied and then hear like oh I thought I should go from $100 to $10k... THATS NOT THE REASON!!!!

it's like amex and the 3x, Amex employees TELL YOU 3x and we still see daily that someone did a request but was afraid and ended up with what they asked for... others say i did ask for 3x and got $0 so then we are back to that person got denied, i don't want to get denied so i didn't ask for that much.....

I was going to type that but forgot. The one time I was declined I just spoke with someone else because the denial letter did not really explain anything. I asked for 3x (30000) with American Express and was countered like I knew I would be.

Re: credit limit increase: How much should I ask for

Epcot — Mon, 29 Oct 2012 18:59:39 GMT

I have a Citi AA Amex. I just want to confirm that it is Citibank using an Amex branded card, so the CLI is done via Citi protocol and not Amex, correct?
I hope that made sense!

Re: credit limit increase: How much should I ask for

Anonymous — Mon, 29 Oct 2012 19:02:50 GMT

@Epcot wrote:
I have a Citi AA Amex. I just want to confirm that it is Citibank using an Amex branded card, so the CLI is done via Citi protocol and not Amex, correct?
I hope that made sense!

Citi is the issuer. Not Amex.

Re: credit limit increase: How much should I ask for

Anonymous — Mon, 29 Oct 2012 19:08:06 GMT

So we should shoot for a reasonable amount of credit we want without the fear of being denied because the new limit we requested?

This makes sense with ge since they always send me I done have enough experience with my current limit x)

Amex follow similarly with the 3xcli.

I wonder is every bank is like that. Would they counter based on your income if all other things equal?