Should I ask for a limit increase?

[Anonymous]

My FICO score with equifax is 711. I made some late payments and had a delinquency about 3 years ago. I've made all my payments on time in the past 2 years.

Right now i have $3,000, $2,000, and $750 limit credit cards. The one I use the most is the $2,000 (discover), but the limit is too low for me since there are often times when my balance goes higher than the suggested debt to credit ratio.

So should I ask Discover for a credit limit increase to say $3,000? 

Message Edited by mrrunon on 10-28-2009 05:53 PM

[Red1Blue]

Does not hurt to ask.

[Anonymous]

i thought they do hardpulls when you ask for a limit increase?

[haulingthescoreup]

Hi, welcome to the forums!

I don't think that Discover does, although I could be wrong. Chase most definitely does.

When you say that your balance sometimes goes higher than the suggested debt-to-credit ratio guidelines, what are we talking about here? Your running balance during the billing cycle? The balance reported on your statement? The balance remaining on the due date, after you've paid the minimum?

[hemi961]

Give Discover a try, mine hit the 6 month mark on the 26th. Called the number on the back of my card that night and the request a credit limit increase option was available for the first time. Requested a $1200 increase and was instantly approved with no hard pull. Call the number and if it gives you the option, go for it.

[Anonymous]

Call 1-800-DISCOVER, option 5 - 2 and if it is a CLI option go for it. You have the option of hanging up if the automated system wants to transfer you to an agent. Good luck!

[Anonymous]

thanks guys, appreciate the help.