Credit Card Credit Line Increase Help

Anonymous · ‎06-12-2015

If monthly credit card is paid for, and the balance is kept at a 50% balance how often does a credit line increase occur, is there a process to speed up the line increase involved or no.

Anonymous · ‎06-12-2015

Call and ask. Rule of thumb is call after every fifth payment posts or six months, whichever is longer.

Paying in full every month maximizes the odds of a yes, and ask for a high (double or triple) increase and then let them counter offer.

takeshi74 · ‎06-12-2015

CLI's are not simply exchanged for time. Limits -- both initial and increases -- are determined based on what one's credit and income qualify for versus the creditor's underwriting criteria. Creditors do not have identical underwriting criteria so you cannot assume that you would get the same CLI from all creditors with a given credit profile and income.

Creditors can have a policy on how often CLI's can be requested but that doesn't mean anything with regard to whether one will get a CLI or not. That is, again, determined based on credit and income.

@Anonymous wrote:
and the balance is kept at a 50% balance

Revolving utilization is just one factor that falls under Amounts Owed. All factors matter.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

If you want to improve that specific factor then get your utilization as low as possible as long as you're not reporting all 0 balances. Keep in mind that the general recommendation is do not exceed 30%. Optimal is only one balance reporting at 10% or less.

If you're going to maintain 50% utilization I wouldn't recommend expecting anything. 50% is high. If you can pay it in full each month then you might want to adjust the reported balance prior to requesting the CLI.

@Anonymous wrote:
is there a process to speed up the line increase involved or no.

It's the exact same process as improving your credit and, no, there are no shortcuts.

Anonymous · ‎06-12-2015

I think if he has 50% utilization on regular basis, that he pays in full every month, then he is an excellent candidate for a CLI. In addition to the FICO lenders have an internal score that they calculate related to capacity for additional credit, that takes into account income and ability/willingness to pay. Paying a 50% utilization down every single month five or six months in a row is pretty good evidence of capacity for additional credit -- your capacity is based on being able to make the minimum payment.

Existentialist · ‎06-12-2015

@Anonymous wrote:

I think if he has 50% utilization on regular basis, that he pays in full every month, then he is an excellent candidate for a CLI. (response below). In addition to the FICO lenders have an internal score that they calculate related to capacity for additional credit, that takes into account income and ability/willingness to pay. (which as previously stated differs depending on lender in? and should in no way be considered uniform). Paying a 50% utilization down every single month five or six months in a row is pretty good evidence of capacity for additional credit -- your capacity is based on being able to make the minimum payment. (possibly, not absolutely given the number of members on this board alone who hav paid accounts diligently without benefit of CLI in months if not years in some cases).

And with all due respect U would be mistaken. U are making a theorhetical assumption that belies the reality. I see little point in restating whats been already said but U should re-read takeshi's comment for clarification as it is 100% accurate.