topic Re: Increasing my credit limit to increase my score in Credit Cards

Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 18:25:03 GMT

Hello all,

I have a question. I would like to request a higher credit limit so that my outstanding balance doesn't look as bad. However, if I request a higher credit limit, does my CC company put an inquiry on my report? That inquiry could drop my score and defeat the whole purpose. Any insight

Re: Increasing my credit limit to increase my score

autofly — Thu, 06 Sep 2007 18:29:19 GMT

sdlt21 wrote:
Hello all,

I have a question. I would like to request a higher credit limit so that my outstanding balance doesn't look as bad. However, if I request a higher credit limit, does my CC company put an inquiry on my report? That inquiry could drop my score and defeat the whole purpose. Any insight

Depends on which credit card company. Some do, some do not. I know for sure AMEX doesn't.

Re: Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 18:36:46 GMT

It's a WAMU card. CL is 5,800 with a 3,000 balance

Re: Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 18:41:08 GMT

Do you know of a good credit card that pulls from equifax that has a good chance off approving me with 633 eq score?

Re: Increasing my credit limit to increase my score

autofly — Thu, 06 Sep 2007 18:47:15 GMT

sdlt21 wrote:
It's a WAMU card. CL is 5,800 with a 3,000 balance

Do a search in the forums for WAMU CLI and you can read what other people have to say about the INQ's. I don't have one of their cards. I have read that sometimes they do pull and sometimes they don't. Either way I've heard it's like pulling teeth to get them to give you a CLI.

Re: Increasing my credit limit to increase my score

autofly — Thu, 06 Sep 2007 18:47:35 GMT

curve401 wrote:
Do you know of a good credit card that pulls from equifax that has a good chance off approving me with 633 eq score?

Check out www.whogavemecredit.com

Re: Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 18:58:13 GMT

Thanks for the help

Re: Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 20:55:13 GMT

@Anonymous wrote:

It's a WAMU card. CL is 5,800 with a 3,000 balance

That balance is probably going to rattle WAMU a little bit...usually you want to be carrying no more than 25% when you apply for a CLI, and ideally less than 10%.

You might want to hold off until you get the balance below $1000 at least.

Re: Increasing my credit limit to increase my score

Anonymous — Thu, 06 Sep 2007 21:02:27 GMT

WaMu reviews your account occassionally to consider CLIs, they are good about them as long as your uti isn't high. I don't think they do on demand CLIs though but it wouldn't hurt to ask.

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 10:57:56 GMT

@Anonymous wrote:

@Anonymous wrote:
It's a WAMU card. CL is 5,800 with a 3,000 balance

That balance is probably going to rattle WAMU a little bit...usually you want to be carrying no more than 25% when you apply for a CLI, and ideally less than 10%.

You might want to hold off until you get the balance below $1000 at least.

That's not what HSBC told me. They first denied me for "Account Utilization." I called to ask them what that means, they told me that "Well your highest balance was $800 on this card and that was a while back." So I told the lady that I'd be using the card more often if the limit was higher. I'm a big spender. blah blah blah. So then she gave me the CLI. Then I promised her (jokingly) to use the card more often and max it out if she wanted me to. hahahaha. She was fine with it. I was happy.

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 11:47:07 GMT

jizoe182 wrote:

That's not what HSBC told me. They first denied me for "Account Utilization." I called to ask them what that means, they told me that "Well your highest balance was $800 on this card and that was a while back." So I told the lady that I'd be using the card more often if the limit was higher. I'm a big spender. blah blah blah. So then she gave me the CLI. Then I promised her (jokingly) to use the card more often and max it out if she wanted me to. hahahaha. She was fine with it. I was happy.

jizoe, be careful with over utilization. HSBC walks a fine line with that and will rate jack yuo if your utilization is high for consecutive months. It happened to me. Had a measley 1500.00 limit and put some moving expenses on the card. UTI stayed up three months and BAM!!! Ratejack!!!

Re: Increasing my credit limit to increase my score

drjenn — Fri, 07 Sep 2007 12:05:34 GMT

I have a WAMU platinum visa.. started with a 3500 CL.. they increased it after 3 months without me asking to 4500.. without an inquiry...not even a soft inquiry..i think there limits are heavily history oriented and maybe salary driven...

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 12:08:19 GMT

drjenn wrote:

I have a WAMU platinum visa.. started with a 3500 CL.. they increased it after 3 months without me asking to 4500.. without an inquiry...not even a soft inquiry..i think there limits are heavily history oriented and maybe salary driven...

I agree. WaMu has been my best card for limit increases EVER!!!

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 12:12:27 GMT

@drjenn wrote:
I have a WAMU platinum visa.. started with a 3500 CL.. they increased it after 3 months without me asking to 4500.. without an inquiry...not even a soft inquiry..i think there limits are heavily history oriented and maybe salary driven...

Without a soft?
WAMU pulls soft INQ's every month.
Always TU for PFICO score and often on EX and EQ.

Re: Increasing my credit limit to increase my score

drjenn — Fri, 07 Sep 2007 12:17:19 GMT

im not sure if im special but i just looked at my reports to make sure... i have one hard INQ listed when i opened the accout in March of this year.. outside of that ..nothing else hard or soft...

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 14:03:54 GMT

@drjenn wrote:
im not sure if im special but i just looked at my reports to make sure... i have one hard INQ listed when i opened the accout in March of this year.. outside of that ..nothing else hard or soft...

Do you get PFICO on your account?

TU Soft Every month:
WASHMTL/PROV P O BOX 9007 PLEASANTON , CA 94566 Phone number not available

Requested On: 8/2007

On EX:
PROVIDIAN FINANCIAL

Date: July 23, 2007 , October 31, 2005 ,
August 25, 2005

Message Edited by Timothy on 09-07-2007 07:03 AM

Re: Increasing my credit limit to increase my score

Anonymous — Fri, 07 Sep 2007 14:34:00 GMT

@Anonymous wrote:

@drjenn wrote:

im not sure if im special but i just looked at my reports to make sure... i have one hard INQ listed when i opened the accout in March of this year.. outside of that ..nothing else hard or soft...

Do you get PFICO on your account?

TU Soft Every month:
WASHMTL/PROV P O BOX 9007 PLEASANTON , CA 94566 Phone number not available

Requested On: 8/2007

On EX:
PROVIDIAN FINANCIAL

Date: July 23, 2007 , October 31, 2005 ,
August 25, 2005

Message Edited by Timothy on 09-07-2007 07:03 AM

Sound like me all of mine are autopay for min on the day the statement falls. I pay the remainder before the due date

Re: Increasing my credit limit to increase my score

Anonymous — Sat, 08 Sep 2007 15:55:09 GMT

Wow, Brammy I never thought that Wamu was good with CLs. I love AMEX because there no soft or hard pulls. But you do run the risk of FR.

I have started using my Wamu and PIF. I will see if they increase my CL. I have only had the card a little more than a year without much use because credit line was so small at $1K

Re: Increasing my credit limit to increase my score

drjenn — Sun, 09 Sep 2007 10:57:55 GMT

I have a WAMU platinum card...started with a $3500 CL had a balance of 1800, when they increased my CL to $4500 automatically without me requesting the increase.I think they review ou account history and make increases based off that..... and im most sure your salary plays a roll...

Re: Increasing my credit limit to increase my score

Anonymous — Sun, 09 Sep 2007 12:36:17 GMT

curve401 wrote:
Do you know of a good credit card that pulls from equifax that has a good chance off approving me with 633 eq score?

Don't know if you consider it good, but Walmart Discover approved me with $2500CL at 635 EQ and DW at $3000CL with 617 EQ. They have APRs, based on your credit, so I am not sure which one you would get, if approved. I also got approved at Navy Federal Credit Union with 635 EQ. That one is 12.99%APR for me. Just a couple of ideas. Good luck.