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How to increase available credit

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How to increase available credit

What are good ways to increase available credit on the cards that I already have? Tom Falater

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Member

Re: How to increase available credit

Good morning. I'm on mobile so I can't see your portfolio or scores, but in general the best way to grow is to garden, use what you have responsibly and not app all over the place for cards you have no use for. Too many folks obtain numerous store cards with low startling cls and end up hurting themselves in the long run. In time, creditors see responsible usage and reward for that. Good luck and happy new year!
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Valued Contributor

Re: How to increase available credit

1. Pay down current balances = more credit available

2. Depends on cards... Some let you request a CLI with only a soft pull while others require a hard pull. Sometimes you can just hit the CLI button and sometimes you need to chat or call.

Happy New Year!

Message 3 of 6
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Super Contributor

Re: How to increase available credit


@tomfalater wrote:

What are good ways to increase available credit on the cards that I already have? Tom Falater


Welcome, and it depends on the specific cards you have. You will get good suggestions after you list out the cards you have, including card issuer, and the card brand name. Existing credit limits and your FICO score also help to put things in context.

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
Message 4 of 6
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Community Leader
Super Contributor

Re: How to increase available credit


@tomfalater wrote:

What are good ways to increase available credit on the cards that I already have? Tom Falater


Research the forums on the cards you have and who allows soft pulls or hard pulls for CLIs. Keep utilization below 30%. 1% to 9% is said to be ideal. Show usage on the cards.

Meaning allow them to report some usage if you can, without going over 30% reporting to the credit bureaus. Pay in full by due date..Not statement date.

Pay EVERY reoccurring bill you have with a CC if it doesn't cost you extra or you atleast break even. 

 

Welcome to the forums!😀



My most prized tradeline.
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Established Contributor

Re: How to increase available credit


@Appleman wrote:

1. Pay down current balances = more credit available

2. Depends on cards... Some let you request a CLI with only a soft pull while others require a hard pull. Sometimes you can just hit the CLI button and sometimes you need to chat or call.

Happy New Year!


1. Pay down current balances = more credit available

 

and if you do this every month and continue to do it in the long run. CC providers will reward you with a higher credit line.

 

Its all about being responsible..

________________________________________________________________________________________
Goal: FICO Scores 800+. Started at 588 last yr.
Current FICO 8 Scores as of 05/03/18: TU: 724 - EQ: 735 - EX: 711

Cards: Amex BCE, Amex EDP, Chase Frdm, Jetblue Plus, Discover IT, PenFed Plat Rwrds, Amazon Prime Visa, BofA Asiana, Amex Delta Gold, Amex Delta Plat, PayPal Mstrcrd, Amex Plat, Amex SPG, Chase CSR.
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