Credit Card questions

Ryry1 · ‎09-25-2010

How is it my Discover card got a increase credit line? my credit limit was 2,000 then it bump up to 2,600 with 0% APR as I only had the Discover card for merely 3-4 months but in Dec it will be 18% APR.

my Capital One card with 1,000 credit limit remain the same for past 5 years since 05 since it was 0% APR when I started then slowly raise to 22.9% APR.

I heard a lot of people gotten that 22.9% due to economy went bad last year, right?

my Lowe's card with 500$ limit (haven't active 1-800 number on the card to active it since Oct 09) as I dont use it despite on my 3 credit bureaus still say good standing on it.

I don't know my credit score because all 3 major credit bureaus I check when it go free only shows 3 of my Credit Card in good standing as I dont have no loan, no mortages, no bankruptcy, no loans, or anything except for 3 Credit Card.

I am hoping my credit score is in the 600-700+ range but haven't order the FICO to see what it is to see it since all I got is 3 CC in good standing on 3 major credits bureaus.

thank you for your help for giving me an idea on this.

Anonymous · ‎09-25-2010

@Ryry1 wrote:
How is it my Discover card got a increase credit line? my credit limit was 2,000 then it bump up to 2,600 with 0% APR as I only had the Discover card for merely 3-4 months but in Dec it will be 18% APR. Sounds like you are probably using this card and making timely payments. Discover will often look at your account for CLI i fyou are a responsible user.

my Capital One card with 1,000 credit limit remain the same for past 5 years since 05 since it was 0% APR when I started then slowly raise to 22.9% APR. This is typical!!! Many of the Capital One cards don't grow with you. They will give first timers a chance and start them out with a low limit, but they will rarely give increases; if they do, it will be very small and stay there forever!!! It sounds like this was your first card so chances are, it's one of their starter cards. Most likely, they will never increase you but may offer you promotional interest rate reductions from time-to-time. You can always call the backdoor # and request a CLI. I had 4 Capital One accounts (until recently,) three of them started at $200 and after a couple of years, they increased me to $500 and had stayed there ever since. The other one started at $1000 and has never gotten a CLI. About a month ago, I called the number on the back of the card and requested increases and was shot down on ALL 4!!! Then after reading about backdoor numbers on the forums, I called one and they increased one of mine from $500 to $2,000!!! I couldn't believe it!! The back door numbers really work!!! Again though, it will depend on which card you have. I cancelled two fo them recently (bc of the ridiculous annual fees and low credit lines.) Of the two I kept, I requested the increases through the backdoor #. The CSR explained to me that some cards will NEVER be eligible just becasue of the kind of card it is. After being told no, on the first one, I was a little nervous to ask for such a large increase on the second and was really surprised when I got it!!! Anyway..... that was a really long way of saying that all of this is really normal and if you would like to see if you can get an increase on Capital One, you should try the backdoor #.

I heard a lot of people gotten that 22.9% due to economy went bad last year, right? I would request a decrease on this at the same time. Worst case is they tell you no, they lowered mine to 9.9% for 24 mos....

my Lowe's card with 500$ limit (haven't active 1-800 number on the card to active it since Oct 09) as I dont use it despite on my 3 credit bureaus still say good standing on it. You might want to activate and use this and then PIF just to show some activity on it so they don't close it on you.

I don't know my credit score because all 3 major credit bureaus I check when it go free only shows 3 of my Credit Card in good standing as I dont have no loan, no mortages, no bankruptcy, no loans, or anything except for 3 Credit Card.

I am hoping my credit score is in the 600-700+ range but haven't order the FICO to see what it is to see it since all I got is 3 CC in good standing on 3 major credits bureaus. I would guess you are probably in the high 600's if you got a new Discover and you now have 3 cards in good standing. It more than worth it to check your scores through this site. Youcan find discount codes online by googling myfico discount codes.

thank you for your help for giving me an idea on this.

Ryry1 · ‎09-25-2010

thanks.

Discover More 5% Cash Bonus back is recently new but what funny is I never apply for it and Discover called me to do appl by phone to get approve.

Its nice to get Cl increase by 600$.

the Lowe's Card I will leave it as I have no desire to do activation the card by calling them. If they close it, then so be it.

I only got it b/c former co-worker trying his best to get ppl to sign lowes cc appl. I got approved for 500$ limit at the desk but no desired to use it as I still got Lowe's Mail with cc unopen in my drawer with cc (sticker still on card).

the 1,000$ credit limit on Capital One for past 5 yrs is good..

I always pay between 100-600 dollar range on each CC payment in split on each payday since I never go for minimal payment.

CapOne (22.9% APR) minimal payment is like 15$-25$ range while Discover (0% APR till Dec) minimal payment is 40$.

both card has No-Annual Fee.