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what is a reasonable credit increase to ask for?

HouseHunter
Frequent Contributor

Re: what is a reasonable credit increase to ask for?



Donovanbrown wrote:
what did you credit and income look like? my score is 679 and i make about 94k a year.

My score was 689, income not as much as yours.  Got denied for $600 increase from Chase but just days later, got approved for a new card from a different issuer for $3200 - same report pulled for both.  I have only positive TL's reporting.  
Message 11 of 22
db23
Frequent Contributor

Re: what is a reasonable credit increase to ask for?

How old is the card? 10K may be pushing it if it's a somewhat new card. CCCs seem to care less about income and more about score and history. I've seen people that make about half of your 94K with cards that have CLs of 40K+.

What baddies are on your CR? there's gotta be a reason it's 679. High utilization on other cards?
Message 12 of 22
Donovanbrown
New Member

Re: what is a reasonable credit increase to ask for?

umm maybe i need to pull a new report, 679 kinda low?
Message 13 of 22
HouseHunter
Frequent Contributor

Re: what is a reasonable credit increase to ask for?

I don't know - it all depends on what else is in your report.  Score isn't everything.
Message 14 of 22
Brammy
Moderator Emeritus

Re: what is a reasonable credit increase to ask for?

When I ask I ask that they at least match my highest or lowest major limit depending on the circumstances.  Usually wind up with a meeting place if its the highest.  Usuall can get more than the lowest. If they don't I sockdrawer it.  Already took the hit for the inq may as well keep it for an emergency.  I'll buy something small maybe twice in the next few months and ask again.


Message Edited by Brammy on 08-19-2007 11:28 PM
Message 15 of 22
db23
Frequent Contributor

Re: what is a reasonable credit increase to ask for?



@Donovanbrown wrote:
umm maybe i need to pull a new report, 679 kinda low?


Low is a relative term. 679 isn't a bad score - but FICO does go up to 850 - not that most people ever come close to 800-850.

You can ask for 10K, worst they'd do is say no. If you're going to call and ask for a CLI you may even want to ask the CSR what you can increase it to instead of throwing a number out there right away. I'm not sure if they'll counter your request if you do it online.
Message 16 of 22
Donovanbrown
New Member

Re: what is a reasonable credit increase to ask for?

i asked for 10k they give me 3k, how sad. they are soo mean.. We are taking this opportunity to inform you that your request for a credit line increase on your credit card account has been partially approved. Your new credit line may be viewed online. A letter explaining the reasons why we are unable to grant the full credit line increase has been mailed to your billing address. The letter will also include the name and address of the credit bureau agency that the report was requested from for our decision. Please allow 5 to 7 business days for receipt of this letter. Under the Fair Credit Reporting Act, you are entitled to receive a free copy of your credit bureau report from this agency if you request the report within 60 days of the receipt of the letter. We encourage you to obtain and review a copy of this report. If you then suspect that there are errors in your credit bureau report, you may work with the credit bureau agency to correct those errors. If you later advise us that corrections have been made to your credit bureau report, we will be happy to evaluate a new request for a credit line increase. When we receive your request, we will obtain a current credit bureau report and conduct a new evaluation on your behalf. We appreciate the opportunity to serve your financial needs online and look forward to providing you with exceptional servicing in the future. Thank You,
Message 17 of 22
Brammy
Moderator Emeritus

Re: what is a reasonable credit increase to ask for?

Well at least its something and not a flat out no.  I don't think you would be able to get a 10K limit with a 679.  10K out of the gate is usually reserved for scores of 720 or above, or as bait to win back a lost customer.... Patience


Message Edited by Brammy on 08-20-2007 09:44 AM
Message 18 of 22
Donovanbrown
New Member

Re: what is a reasonable credit increase to ask for?

did they pull a new credit report and give me a hard inquirie, for that cli?
Message 19 of 22
Brammy
Moderator Emeritus

Re: what is a reasonable credit increase to ask for?



Donovanbrown wrote:
did they pull a new credit report and give me a hard inquirie, for that cli?

Was it an increase at act? Usually no but it depends on the issuer.  I usually ask. I got a sucky limit with Cap1 (who's surprised?) called to close it, they doubled the limit an then the next month added an additional 500.00. Never pulled a hard.  I think some approve yo on a low to high scale and offer the low end to see if you will take it but there is some wiggle room built in.
Message 20 of 22
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