Is there any way to get my credit cards to post my new credit limits without having to do a dispute for each card with each of the three credit bureaus? Some of the credit cards I received increases on have already updated but that is just because they happened before the statement cut date (like my Care Credit that went from $500 to $2000). I know my Walmart increase from $300 to $1000 will post when the new statement cuts on 11/8 which is also when my Navy CLOC that went from $500 to $1500 should post, but my TJ Maxx ($300 to $1000) and my Marvel card ($1500 to $2500) have already posted statements so will I have to wait until the end of November to see these increases reflected in my overall utilization? I'm having to carry balances on a higher than normal ratio of my cards (6 out of my 13 will post a balance this month with one card carrying 65% util and the other five will range between 6%-20% utility). I'm hoping the new increase is immediate because I need the extra padding on my overall utilization since that one card that is going to post 65% util is going to drag my score down (temporarily, I know...but still!). Even without the extra padding on the newly increased line my overall was going to be around 20% but the lower the better! Anyone have any advice?
Sorry I dont think there is anything you can do to speed it along. I have only been doing this for 15 mo. and the only time I see updates is the day after the statement close date (I guess that's what you call it, lol). Even when I added my fiancee as an authorized user, it didn't show up on his credit report until then too. UGH..it certainly takes a lot of patience huh. The good thing is you only have to wait a month to be able to completely change the utilization rate on your report!
You can always request the update via message with most banks. Some are great about it and some aren't. I would not file disputes although just to update the limits. They are only required to update as the statements cut and if they report it early, it's really just a courtesy. We all hate to see dips in our scores, but you know how it goes.
Is there a reason you're in a hurry? If you're not apping for anything big, it'll be OK.
All you can really do is wait it out. As suggested above you can request that the creditors that gave you CLIs report early. Unless you are apping though, there's no need for your scores to be higher at this moment. You're likely only looking at a few points anyway, maybe 10 points at best due to the utilization change which isn't a real make or break situation generally speaking.
I know how you feel. It's hard to wait. BoA just gave me a $3100 increase, which will lower my utilization nicely, and my statement doesn't cut until the 19th.
Maybe other forum users can back this up, but I think if you dispute a valid debt on your credit report, you can expect the creditor to cancel your credit card or line of credit. Your high utilization is accurate, regardless of your limit increase.