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High Credit Line increase when balance is low?

fritscher
Regular Contributor

High Credit Line increase when balance is low?

If you ave a credit card with say 5000 credit limit and only have charged minimum items can you still get a limit increase or do banks tend to target people that usually charge close to their current limits..I would never have 3000 or 4000 or more on my card or charge that much but would like the higher limis

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mjb59463
Regular Contributor

Re: High Credit Line increase when balance is low?

I'm sure different lenders have different standards, and I could imagine that the lower the balance, the safer you look to them. Obviously, keeping your balances low is just a generally good practice, whether you're chasing a CLI or not. 

 

I had this kind of situation come up with Amex recently. I had a 3k balance for a month or two on one of their cards, and the day after I paid it off fully, they bumped my CL from 11.5k to 13.5k. 

 

I'd advise you to use your cards as you normally would, don't charge more than you can afford for items just because you want to look better to a lender, and CLI's will take care of themselves in time. If by chance they don't, call in and ask. 

Scores: 790 TU (Barclay), 780 EX (Fico8), 790 EQ

Chase Freedom Unlimited (6k), CSP (20k), Amex Delta Platinum (13.5k), Amex Marriott Bonvoy (16k), Barclay Apple (12.5k), USBank Flexperks Travel Rewards (12k), Wells Fargo Visa Signature (10k), Citi Double Cash (8k), Amex Gold, Amex Platinum, Amex BBP (15k) Marriott Bonvoy Boundless (15k)
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NRB525
Super Contributor

Re: High Credit Line increase when balance is low?


@fritscher wrote:

If you ave a credit card with say 5000 credit limit and only have charged minimum items can you still get a limit increase or do banks tend to target people that usually charge close to their current limits..I would never have 3000 or 4000 or more on my card or charge that much but would like the higher limis


Each bank is different, each has it's own quirks about how to approach for a CLI.

Can you list out each card you have, which bank, the card brand, current CL and latest statement balance? That will get you specific advice on how to approach each card.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
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