How to ask for a CC Balance increase??

[Mossburg031]

Hey All!,

I'm looking to get an increase to my credit card so I can actually utilize my card for intended purposes vs. having to constantly go in and pay on balances so that the credit utilization does not hurt my score.

My scores just recently dropped because I had about $2000 hit my credit utilization when I was on vacation and forgot to pay before the statement hit which kind of put me over the edge to take action about it.

Monthly Income $10,400

Mortgage $2,000

Auto Loan $420

$0 balance on revolving credit with a good pay history to which I generally never allow anything to hit the statement. I was young and dumb at one point and had everything maxed out and paid minimum payments but have been straight arrow for about 2 years. Outside of my home and auto I have zero debt.

Prior to this balance credit utilization increase my scores were...

Eq: 758 Trans: 791 Ex: 772

Now my scores are...

Eq: 742 Trans: 776 Ex: 778

My credit card are as follows:

• Capital One - Limit: $3,500 - Member Date 2005
• American Express - $2,500 - Member Date 2015
• Bank Of America - $2,000 - Member Date 2006

What kind of increase should I ask for and what is the most effective way to do so?

TIA!

[SouthJamaica]

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@Mossburg031 wrote:

Hey All!,

I'm looking to get an increase to my credit card so I can actually utilize my card for intended purposes vs. having to constantly go in and pay on balances so that the credit utilization does not hurt my score.

My scores just recently dropped because I had about $2000 hit my credit utilization when I was on vacation and forgot to pay before the statement hit which kind of put me over the edge to take action about it.

Monthly Income $10,400

Mortgage $2,000

Auto Loan $420

$0 balance on revolving credit with a good pay history to which I generally never allow anything to hit the statement. I was young and dumb at one point and had everything maxed out and paid minimum payments but have been straight arrow for about 2 years. Outside of my home and auto I have zero debt.

Prior to this balance credit utilization increase my scores were...

Eq: 758 Trans: 791 Ex: 772

Now my scores are...

Eq: 742 Trans: 776 Ex: 778

My credit card are as follows:

• Capital One - Limit: $3,500 - Member Date 2005
• American Express - $2,500 - Member Date 2015
• Bank Of America - $2,000 - Member Date 2006

What kind of increase should I ask for and what is the most effective way to do so?

TIA!

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Cap One go to Services>More>Request Credit Line Increase, select card, answer questions

Amex go to More Options>Credit Management>Increase Line of Credit put in 4 digit number, answer questions

[Mossburg031]

Bank of America and Amex both require you to ask a specific amount... What would be a reasonable request?

[Anonymous]

For Amex, you enter 3x your current limit, so if your limit is 2k you ask for 6k. They will usually only do a 3x increase every 6 months. As for BOA, since your income supports it, why not ask for 25k?

[Anonymous]

Sorry I read your current limits wrong; since your Amex limit is at $2500, you can ask for $7500. Then if approved for the CLI, in 181 days from approval you can ask for 3x the $7500 (which would be $22,500).

[SouthJamaica]

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@Mossburg031 wrote:

Bank of America and Amex both require you to ask a specific amount... What would be a reasonable request?

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I don't have any knowledge of that.

It is widely believed in this forum that you can get a credit limit increase that will triple your present credit limit. And that may be so.

I personally have had 2 Amex revolvers for over a year and haven't been able to get any CLI in any amount.

[taxi818]

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@SouthJamaica wrote:

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@Mossburg031 wrote:

Bank of America and Amex both require you to ask a specific amount... What would be a reasonable request?

---

I don't have any knowledge of that.

It is widely believed in this forum that you can get a credit limit increase that will triple your present credit limit. And that may be so.

I personally have had 2 Amex revolvers for over a year and haven't been able to get any CLI in any amount.

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Its not widely Believed. It is a fact. you personal story is also typical. It really depends on your profile and credit scores. In cases like you are mentioning, having card so long and not getting love. Usually its the 1k or 2k limits that are doing this. The only way to get around this is to call after so long and get a Credit Rep to manually review your Request. even if you try to ask for more than 3x. The computer online will automatically bring it back down to 3times your current limit. my brother and cousin has never had an increase on their amex cards either. My first. Delta. in 61 days from having card. Went straight to 3x the limit. From 3500 to 10500 without any glitches. Just keep trying and it will happen. or the other thing people have done when they could not get increase. Was to apply for another amex and get extreme high lmit. Then move over the limit from the card not showing love. Good luck.

[Anonymous]

I know that Capital One doesn't allow you to request a certain amount for your CLI..  Whether you call the automated number of request online, there will be a few questions asked, income, if you carry a monthly balance, etc and they will come back with a increase amount or not.  Now if you are not satisfied with the CLI, you can call the EO and they will manually review the account and they will ask what amount are you looking for,  but that takes several days. Depending  on the outcome, it may be worth it! Good Luck!