TD Bank will raise the limit when they feel like it. There's no way around it. There's a theory here to update your income every month then let a balance post to trigger an increase. It hasn't been proven one way or the other.
@mgs2010 wrote:Hey Everyone!
I haven't posted on here in a LONG time. Long story short, over a decade ago I filed ch7 bk and never burned Target. They were my first card I was approved for right after my discharge. Started with a $300 limit; currently sits at $600 limit. Little to no growth as you can see. My scores are currently in the lower 800s - I have a very nice portfolio of prime cards with very high limits. I just don't think I have a use for this tiny limit redcard anymore, though I fear that closing it out will hurt my score. I never carry balances - my overall utilization is 1% which is just the statement balances that get PIF every month...I'm just at a loss that this account will not grow with me.
Any tips on how to make some headway with this account? I don't necessarily want to give it up since it's been with me since my bankruptcy discharge so she and I go WAY back but it's annoying that every other card I have aquired over the years has grown with me except this one.
I appreciate your input!
When was the last time you tried a manual CLI?
@MileHigh96 wrote:
@mgs2010 wrote:Hey Everyone!
I haven't posted on here in a LONG time. Long story short, over a decade ago I filed ch7 bk and never burned Target. They were my first card I was approved for right after my discharge. Started with a $300 limit; currently sits at $600 limit. Little to no growth as you can see. My scores are currently in the lower 800s - I have a very nice portfolio of prime cards with very high limits. I just don't think I have a use for this tiny limit redcard anymore, though I fear that closing it out will hurt my score. I never carry balances - my overall utilization is 1% which is just the statement balances that get PIF every month...I'm just at a loss that this account will not grow with me.
Any tips on how to make some headway with this account? I don't necessarily want to give it up since it's been with me since my bankruptcy discharge so she and I go WAY back but it's annoying that every other card I have aquired over the years has grown with me except this one.
I appreciate your input!
When was the last time you tried a manual CLI?
TD Bank doesn't do user initiated requests.
@mgs2010 wrote:Does Target even do manual CLI? It's been many years since I have called them to ask but If I remember correctly, they said something like they do not review customer initiated requests for limit increases.
I use the card monthly for small purchases because my rule of thumb is to never go beyond 6% util on any account ever...so this $600 limit makes it rather difficult to do any real shopping on. I guess it doesn't hurt to keep it around, but it would sure be nice it Target would recognize the effort that I've put into literally rebuilding my credit from absolute trash to over 800s today.
So, when you say you never go over 6%, do you mean you just flat out don't spend past that at any point in a cycle, or you mean you don't want to let a balance over 6% *post*? Because there's a big difference between the two. You can really spend as much as you want and just pay down the card to 6% or less before the cycle closes.
@mgs2010 wrote:Does Target even do manual CLI? It's been many years since I have called them to ask but If I remember correctly, they said something like they do not review customer initiated requests for limit increases.
I use the card monthly for small purchases because my rule of thumb is to never go beyond 6% util on any account ever...so this $600 limit makes it rather difficult to do any real shopping on. I guess it doesn't hurt to keep it around, but it would sure be nice it Target would recognize the effort that I've put into literally rebuilding my credit from absolute trash to over 800s today.
The only real benefit I've found for my RedCard, is that they sell groceries. So it's basically just being used as a 5%cb emergency or convenient grocery spend card and the random last minute quick gift card for someone.
Other than that, I really don't use it, so I suppose it's now a "just in case" card that I put a few bucks on every few months to keep it open.
You may not need a just in case grocery card, so my methodology may not apply to your situation.
