@SantaMar wrote:
i have three cards...
best buy 0/2600 limit
wells fargo 225/5k limit
credit union 1900/10k limit.
this puts me at 13% utilization. i see some people on this board with crazy amounts of credit. over 100k in credit limts. thats sounds like a comfortabel insurance policy. i was wondering if i were to ask for an CL increase, how do you word it? does it matter or is it just "ok, just fill this out and we will call you?" should i ask the credit union or wells fargo? whats the criteria by which they approve you?! i also just closed on a mortgage 6 months ago....not sure if that helps or hurts me....
ORRRR would you consider an app spree with other cards!?!
You are in pretty good shape from a revolving credit perspective. But, the ideal starting point for optiming your revolving utilization is one card showing less than 9% utlilization, while having all other cards reporting zero balances. You might try this before you look to increase your existing credit limits.
Creditors will vary on their approval criteria for a credit line increase, however you should expect them to pull your credit - in some cases they don't, but it happens with most creditors.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
