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Credit Limit Increase

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Credit Limit Increase

I havd a few credit cards with low limits. 1 is a visa with Wells Fargo with $1500, the other is care credit which has $2000. Ive had the Visa for 2.5 yrs. the Care Credit card for a year and s galf. Ive used the care credit card twice for $300 and paid it back in full as soon as it posted. The visa with my bank i use regularly and pay in full every month. All of my scores are in the 700's. I finance my Audi, which is always on time. I have a capital one MasterCard which i never use because it was s starter card from 6yrs ago and they never gave me an increase so i said screw them and use my other cards instead. How do i get my limits to start inching up toward $10,000? I get credit card offers often, in fact Wells fargo just asked me to apply for a personal line if credit. But why havnt they just increased my limits with the cards i have?
Message 1 of 10
9 REPLIES 9
Regular Contributor

Re: Credit Limit Increase

WF is kinda an odd ball, you need to call customer service and request a CLI. If you are willing to sacrifice a HP and your profile has increased, have them actually pull your credit for the increase. It may get you to 5k+.

That Cap 1 card will probably never grow, you'll have to app for a new card under good FICO score. Try the Savor or Venture if you want the best shot at a high CL. You could also just get the QS (NOT the QS1) and have that one grow over time.

I have no idea how Care credit works, so someone else will have to chime in.

If you just have the three cards...you'll just have to app for others to see higher CL. Amex cards are good for 3X SCL after 2 months (I believe) and Discover is another good card that will just grow slowly, but continuously.







Message 2 of 10
Super Contributor

Re: Credit Limit Increase

Care credit is backed my synchrony, which generally does a SP for a CLI. OP, you just need to ask them. 






Message 3 of 10
Valued Contributor

Re: Credit Limit Increase

2 things I'd make sure of while building your profile. Keep your income updated on your profiles. I think many look at that to see if it's worth giving you a CLI based on the income. Just the other day, my coworker (who never updated his income) asked me regarding the limit and why it had never increased other then the first year (card is close to 10 years old). I checked his account and his income was the same for 10 years ago. He had requested a CLI around 6 months ago and was declined. I had him update his income and try again, and viola - he got 2X his current limit.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 4 of 10
Established Member

Re: Credit Limit Increase

You could also see if capital one will upgrade your current card.

Goals: Garden until August 2020

Amex Rose Gold: NPSL
Citi Double Cash: 3500
Capital One Venture: 8900
Chase Sapphire Preferred:5000

Message 5 of 10
Regular Contributor

Re: Credit Limit Increase


@xaximus wrote:
2 things I'd make sure of while building your profile. Keep your income updated on your profiles. I think many look at that to see if it's worth giving you a CLI based on the income. Just the other day, my coworker (who never updated his income) asked me regarding the limit and why it had never increased other then the first year (card is close to 10 years old). I checked his account and his income was the same for 10 years ago. He had requested a CLI around 6 months ago and was declined. I had him update his income and try again, and viola - he got 2X his current limit.

^^^ Very true, I update mine every year after taxes (or when I get a huge bump in pay)








Message 6 of 10
Community Leader
Valued Contributor

Re: Credit Limit Increase

Congrats on that punctual Audi. My car is always AT LEAST 15 minutes late. 

 

Lol sorry sorry. If you’re willing to take a HP, you could always ask for an increase. If you don’t think you’ll get one, maybe go for that new card. Sounds like you’re in a bucket with your Cap One card. The best way to get increases, though, is HEAVY use and frequent payments. Good luck!

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 7 of 10
Established Member

Re: Credit Limit Increase

Wait what?? I have a 645 credit score TU and i just applied 2 days ago for carecredit was approved for 1k now today i went to the website asked for a 6k and was approved ,asked again for a 8k and was giving a 7-10 letter but over all i was granted a 5k increase 2 days prior to opening my account!! Roll the ball and ask for the desired as far as i know it was a soft pull on my end! Goodluck! Mind you that i have only 1 year of history of credit average of 6 months of age with no baddys!



Starting score 06/29/2019

July score

Current score[08/12/19]-

Message 8 of 10
Community Leader
Super Contributor

Re: Credit Limit Increase

Credit cards do not always get auto increases no matter how good your payment history. As for Cap One, it may be a starter card but nonuse usu as lly leads to no cli lol. You hsve to at least show usage. Cap One likes high usage. With good scores all you need to do is tesearch which card brings you most benefits to your spending habits and apply. Also check on how cli requests are handled for that bank/CU. Most of the big banks are well covered here so its usually no secret on how to get increased credit linesSmiley Wink
#ChaseCreditCardHobby Enthusiast
Message 9 of 10
Established Contributor

Re: Credit Limit Increase

Cap1 won't grow in its current form.  When you replace it with a non-starter though you have to use it heavily as someone mentioned to get it to grow.  Cap1 in my book has a place and it's to start building or recovering from a bad profile.  Once you've done that then it's beyond useful.

 

WF requires a call to CLI.  Sometimes it's a SP if you hint at an APR reduction and follow up with if there's an offer for a SP CLI.  

 

Care Credit is the oddball w/ Sync... they flip flop between SP/HP from the reports over the years but, if it's not being used it might be a stretch to get a CLI on it.  Strong TU then go for it online, aim high like 25K and then let them counter back with their highest offer.

 

As to supplementing and expanding your profile and CL's.... what are you interested in beyond the 10K threshold?  Points? Cash? AF/no AF? SP CLI's?

500K+ TCL / 800+ FCOs
Message 10 of 10
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