What are some thoughts on the timing for a Credit Line Increase? Is there an ideal Usage Rate possibly. Need the CLI becasue the usage is high on the card and would like to get the higher limit so the Usage rate is lower?
What are some thoughts on the timing for a Credit Line Increase? Is there an ideal Usage Rate possibly. Need the CLI becasue the usage is high on the card and would like to get the higher limit so the Usage rate is lower?
Definitely not if your utilization is high. CLI's are basd on your credit and income. Utilzation plays a major role. See:
It's not so much a matter of timing (you can't just wait for X time to pass and expect a CLI) as it is whether or not your credit versus the creditor's criteria has some headroom for a CLI or your credit improves. As an example: through applying for cards with Chase I hit my internal limit. I could have requested CLI's up to my internal limit. Howeve,r after hitting the internal limit Im not going to get any CLI's until my credit and/or income sufficiently improve to raise my internal limit with Chase.
What are some thoughts on the timing for a Credit Line Increase? Is there an ideal Usage Rate possibly. Need the CLI becasue the usage is high on the card and would like to get the higher limit so the Usage rate is lower?
Definitely not if your utilization is high. CLI's are basd on your credit and income. Utilzation plays a major role. See:
It's not so much a matter of timing (you can't just wait for X time to pass and expect a CLI) as it is whether or not your credit versus the creditpr's criteria has some headroom for a CLI or your credit improves.
Exactly. OP - try to lower the utilization accross the board to improve those chances. Make sure your profile is also ideal to qualify.
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