topic Re: Should I ask for a credit increase? in Credit Cards

Should I ask for a credit increase?

Mshellt — Wed, 13 Aug 2014 00:03:21 GMT

I have a Walmart credit card with a low credit limit. I have only had it for two months but have been paying it in full. There is a button in my Walmart account that says "request credit increase." My question is: Could it hurt to push this button? (Credit wise, I mean.) Will it run another credit check, or just deny or approve based on my tiny history with the Walmart card account?

Re: Should I ask for a credit increase?

Burned2manybridgesB4 — Wed, 13 Aug 2014 00:07:45 GMT

It'll just deny you outright, unless your income has signifcantly grown in the past two months.

Call up CS on the backdoor numbers, and tell them your needs, especially if you're maxing out/PIF.

If it's a no-go, then wait for the 4th posted statement, then hit them again.

Re: Should I ask for a credit increase?

red259 — Wed, 13 Aug 2014 00:08:39 GMT

@Mshellt wrote:
I have a Walmart credit card with a low credit limit. I have only had it for two months but have been paying it in full. There is a button in my Walmart account that says "request credit increase." My question is: Could it hurt to push this button? (Credit wise, I mean.) Will it run another credit check, or just deny or approve based on my tiny history with the Walmart card account?

I'm unfamiliar with that card. Usually it says near the button if it will result in a credit check or not. Who is the lender?

Re: Should I ask for a credit increase?

chalupaman — Wed, 13 Aug 2014 00:08:55 GMT

I think it's best to wait. Personally I've never had luck requesting it myself or doing Credit Solutions but have gotten generous auto CLIs even before the 4 months were over.

Re: Should I ask for a credit increase?

xXIDaShizIXx — Wed, 13 Aug 2014 00:09:07 GMT

@Mshellt wrote:
I have a Walmart credit card with a low credit limit. I have only had it for two months but have been paying it in full. There is a button in my Walmart account that says "request credit increase." My question is: Could it hurt to push this button? (Credit wise, I mean.) Will it run another credit check, or just deny or approve based on my tiny history with the Walmart card account?

I do believe it has to be at least 4 statements until you are eligible.

Re: Should I ask for a credit increase?

Mshellt — Wed, 13 Aug 2014 00:22:02 GMT

Can it hurt to try through? I just don't want to damage my credit by asking. Would Walmart take my request for an increase as permission to re-run my credit?

Re: Should I ask for a credit increase?

Burned2manybridgesB4 — Wed, 13 Aug 2014 00:23:14 GMT

If it's still GEMB running the show, it'll be a soft pull. Go for it. If you get the "letter in mail..blah blah blah," it's a denial.

Re: Should I ask for a credit increase?

elim — Wed, 13 Aug 2014 00:23:26 GMT

walmart luv button won't work yet. try it :] it's a soft pull so you can press it. It's best to use the card and pay on time. after 4th statement cuts, call credit solutions and get the most they will give you. "looking at a TV and would like to take advantage of 0% interest...need $xxxx.xx credit limit" or whatever your own wants/needs are. remember, it's a journey, not a race. one big factor is time.

i'm in the same boat with walmart, best of luck to you.

also, dont forget to let a balance report each month or it wont generate a statement that particular month.

Re: Should I ask for a credit increase?

Anonymous — Wed, 13 Aug 2014 00:26:13 GMT

@Mshellt wrote:
Can it hurt to try through? I just don't want to damage my credit by asking. Would Walmart take my request for an increase as permission to re-run my credit?

Can't hurt to try... But you never know what stupid little things a credit company keeps track of. If it were me, I'd wait - you are only 2 months away