Nordstrom credit lines?

[Anonymous]

So here's the deal. i have had a nordstrom visa for the last 7 years. started with a 2k limit now up to 15k. i have had the 15k limit since 2005. i have tried to call twice in the last 5 years and ask for a cli increase. well the last time was in November of 2009. they had me on hold forever. the rep came back and said we couldn't approve it at this time. i request a 5k increase to up me to 20k. i only have this credit card. i use to have b of a but closed it 2 years ago cause they pissed me off. i have great credit. last time i checked 760 equifax score. i do have a balance on the card around 6k. they asked the usually why you want the increase and i told them this is the only card i have/carry. does anyone have any tips or experince in dealing with them on these issues. imo they don't seem like they want to budge wants the card holder reaches 15k limit. maybe they would request pay stubs. i dont know. any feedback would be great.

Message Edited by creditcrazy25 on 01-07-2010 04:15 PM

[manyquestions]

All your assumptions are correct.  Nordstrom goes to 15k pretty easy but does not often go beyond that.  They may go up to 30k with docs.  Lately they seem more interested in limiting their exposure unless you are using the card heavily in their store.  I can understand that.  The best advice I can give you is get a couple more cards with other creditors. 

[Red1Blue]

I came from $2k to $12k so far. I tried to see if they can increase it to $15k. I tried 3 times and they keep saying no.

[Anonymous]

hey manyquestions. You are right they will go to 15k pretty easy but once your there its like your stuck, i have done my homework on this one and thats why i am not seeking advice with others that have the card to see what their experiences have been. my friend went from 3k to 10k with one phone call. i encouraged her to call and request it. she was thrilled. right now in my life i am downsizing and i am trying to pay cash for whatever i can and use credit less. i use to have cards in the past with bank of america, providian, 2 cap one's and those accts are all closed and paid. i just want the 1 credit card for emergencies. my largest cli was 12.5k with bofa i the past. the nordys is a visa sign. so it doesnt report my 15k limit. i am almost tempted to go back to the platinum once my balance is paid down.

[Anonymous]

concorduser ...i have the same problem with trying to get to 20k. they have said no 2 times in the last 5 years. everything else was always yes. maybe i got to use to that. they do seem like they have gotten more conservative. i was also bummed when they raised the tier 1 apr to 10.9%. it was so much better when it was between the 4% and 7.9% mark. now it just seems like an avg. car instead of a better than avg. card.

[haulingthescoreup]

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creditcrazy25 wrote:
hey manyquestions. You are right they will go to 15k pretty easy but once your there its like your stuck, i have done my homework on this one and thats why i am not seeking advice with others that have the card to see what their experiences have been. my friend went from 3k to 10k with one phone call. i encouraged her to call and request it. she was thrilled. right now in my life i am downsizing and i am trying to pay cash for whatever i can and use credit less. i use to have cards in the past with bank of america, providian, 2 cap one's and those accts are all closed and paid. i just want the 1 credit card for emergencies. my largest cli was 12.5k with bofa i the past. the nordys is a visa sign. so it doesnt report my 15k limit. i am almost tempted to go back to the platinum once my balance is paid down.

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I understand the wish to simplify life and just have credit for backup, but there's a lot to be said for having 3 CC's, each from different lenders. We've all seen the capricious acts of lenders (looks like you went through this with BofA.) Having tradelines from several lenders gives you some redundancy if your main card starts giving you problems.

You might want to think about getting a card from a credit union, etc. They don't seem to mind using smaller amounts of their CL's. I have a $27K CL on a card from USAA and $20.4 on a Penfed card, and I rarely get to 10% on either of them.

And again, having CC's doesn't mean having debt. I just use mine for everything I'd normally pay cash for. I pay them off monthly right before the statement drops (so that they report $0) and go on my way. I think of my CC's as being really slow debit cards. I don't charge anything that I can't pay off at the end of the month.

[Creditaddict]

Nordstrom use to require income verification to go over 15k, so consider yourself lucky to get to 20k without proving it, if you have great income then call them up and ask them if they want to see to go higher.

[Anonymous]

hey Haulingthescoreup - You do have a great point. thanks for understanding me wanting to be simple. its all the simple things in life that keep me afloat. I couldn't agree with you more about CREDIT UNIONS. this is the way to go. suze orman is finally preaching this to people on her show. i did join a local cu about 3 years ago and have been a very happy customer. i first joined by opening a checking acct. and then a few months later got an auto loan  with them for a used car at 4.9%  apr where the dealer wanted to charge me 8.5%. the difference in apr and by me paying $25 more a month in payments with the credit union instead of the dealers bank i am able to pay the car off in 60 months instead of the 72 months the dealer was going to have me at. 1 year difference and Savings $$$ over the life of the loan in interest. my credit union just came out with credit cards last year and they do seem like attractive offers. i have been tempted to be honest.

[Anonymous]

Creditaddict- You are right i have heard this too if you want more than 15k limit its time to prove income level. just curious what kinda income do you think would be acceptable for them for a 16k-20k limit on their cards?