Credit limit increase

[Anonymous]

I have Discover IT and Amex Blue Cash cards, each with limits of about $31k. My Fidelity Visa has a limit of $25k and they've refused to increase it. It's managed by Elan, of course, a unit of US Bank, from whom I used to have a card with a $55k limit before I closed it. Don't understand why Elan/US Bank are so stingy with credit limit.

[K-in-Boston]

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@Anonymous wrote:

I have Discover IT and Amex Blue Cash cards, each with limits of about $31k. My Fidelity Visa has a limit of $25k and they've refused to increase it. It's managed by Elan, of course, a unit of US Bank, from whom I used to have a card with a $55k limit before I closed it. Don't understand why Elan/US Bank are so stingy with credit limit.

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Even as someone who has some hefty credit limits, I'd hardly consider $25k to be stingy, unless you find yourself consistently utlilizing a significant portion of the credit line. How often are you using the card, and what kind of spend are you regularly running through it? It's always good to remember that if you're extended credit, that's credit that a bank may not be able to extend to another customer. While I'd love for all of my cards to have $100k limits, I can understand many of my cards being $10-20k if I'm not really using them.

[AverageJoesCredit]

With all due respect to my dad, and myfico dad, CO_NATIVE. , can i be your son?

Lol, your limits are amazing so i guess getting stuck with a 25k might be kinda hard. USBank, what to do

[RadioRob]

K hit the nail on the head with her reply.  What's your usage like?  

And remember...  some banks just may not want to extend more than X (be it 5, 10, 25, 50K) to a single person from a risk perspective.  Each financial institution has their own risk tolerance levels and has limits on what they're willing to extend to a single person.  It's not meant to be personal.

[K-in-Boston]

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@RadioRob wrote:

K hit the nail on the head with her reply.

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Usually the incorrectly assumed gender is male for female not the other way around, so no offense taken. It’s the Kohl’s card, isn’t it?

[RadioRob]

One of my best friends is a drag queen.  Everyone is she/her or honey.  haha

(In reality, I've just got a horrible memory.  I can't remember my name by the end of the day half the time.)

[Anonymous]

I checked my account online just now and saw that my credit limit was raised by the requsted amount of $5k to $30,000. This after I was told on the phone that the increase had been declined AND after I received a letter saying that at $25k I already had the maximum amount of credit available. They just changed their minds, I guess.

I charge anywhere from $1,200 to $4,500 per month depending on what's going on. Pay in full every month with an auto debit and never carry a balance.

[Anonymous]

how much to jump on a TL? lol

[joltdude]

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@AverageJoesCredit wrote:
With all due respect to my dad, and myfico dad, CO_NATIVE. , can i be your son?

Lol, your limits are amazing so i guess getting stuck with a 25k might be kinda hard. USBank, what to do

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I wish i had these sort of problems....

Doubt ill ever see a 25K line of my own in the immediate future, or lifetime..

Thing about Elan managed cards......

Each Bank/CU has its own "profile" and limits for what it wants to extend... And Elan is basically a turnkey solution for CUs and banks to issue credit cards.. they tell them what they want for a customer, and thats what Elan does... Theres really no... well i have/had x limit with this elan card so ill get it on a different one... Yes it shows on your reports and they can see that.. but its not a case of monkey see monkey do.... they also may have actually gone to the issuing bank and asked them what they want to do, if they saw your profile is stellar ... 

Glad they changed their mind however.....

[Anonymous]

If you think about it, it's sort of crazy for any lender to grant someone a CLI if they aren't using at least half their limit per month if they are paying in full.  I mean, almost all of them do it and almost all of us on this forum try to push our limits higher.  From a risk/reward perspective, there's almost zero incentive for them to do this.  If one is putting $1k-$5k per month and paying in full on a $25k limit card, clearly the card holder doesn't need more credit on that line, as they're using 20% of their limit at most.

I think we (generalization, myself included) often get too emotionally invested in these things and tend to take it personal when we don't get what we want, especially if we see others seemingly getting what they want.  It's always good to take a step back though and see the situation through the lens of the creditor and when you do, it's simple to understand why we don't always get what we want.