Too soon to ask for a credit line increase?

[Anonymous]

I got a new credit card in May and woud like to ask for a credit line increase.  I've got about a $3000 balance out of the $4200 limit; I've paid close to $1000 each month.  Is it too soon to ask for an increase?  Is there an amount of time I should wait to ask?  Thank you.

[MarineVietVet]

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@Anonymous wrote:

I got a new credit card in May and woud like to ask for a credit line increase.  I've got about a $3000 balance out of the $4200 limit; I've paid close to $1000 each month.  Is it too soon to ask for an increase?  Is there an amount of time I should wait to ask?  Thank you.

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IMO it's too soon. Wait about 6 months and try and have that utilization very low before asking.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[Anonymous]

Thanks, marinevietvet.  That was my hunch and it helps to have someone confirm.  I'll take your advice!

[Anonymous]

6 months definitely worked for me.

Anyone know if 10 months is too soon to ask for CLI #2?

[Anonymous]

-bump- What period is ideal to ask for a second CLI? 10 months? 1 year?

[laz98]

someone said you can ask GEMB for a CLI every 4 months, "like clockwork".  i've never tried, so i can't speak from experience.  just FYI

[Red1Blue]

If it is GEMB you can ask for CLI every 4 months. Other companies I recommend to wait 6 months. You have nothing to loose by asking. Worst case they will say no. What you got to loose in asking?

[RobertEG]

Remember that a reqeust from you for a CLI is a request for additional credit.  It is thus clear authorization for the CCC to do a credit inquiry, and some credtiors will report such inquries under a "hard pull" code.  I recommend that you evaluate the chances of their grant of a CLI with such short history with them against the pretty good probabilty that, regardless of whether they grant it, they might post a hard pull to your CR.

What is the reason why you are anxious for an immediate CLI?  If it is primarily to increase your overall CL, and thus reduce your % util for an immediate FICO score increase, there is no rush for this.  % util has no historical memory.  Doing this 6 months or a year from now will put you at the same % util.

The longer you wait, the better your chances of approval.