When should you ask for credit limit increases?

[krave]

Try it after four months of payments because thats the threshold for cli's on the Walmart card.

Thanks for the tip eugene. =) I'll hit the Luv button again maybe sometime at the end of this month or next month...

[Wanderer]

It is hard but a good "rule of thumb" is to give a new account a chance to mature for six months. Some banks want a year. I have read Walmart would look at four months. Don't know myself. Card issuers want to see usage and a good payment record. For rebullders it is really important.

[belle]

Credit One does not offer cli's to me anymore, I have to call in and ask for one. Here is the catch, they charge you $25 for it

Thanks! but I hate to part ways with my $25 or any fee for that matter. just to get a cli. LOL . . . Do I think I'll just leave my cl alone for the meantime. :D

[belle]

I wouldn't depend on that either because it's easy for a lender to get rid of the evidence (statements) if you were trying to prove them guilty for something.

I agree. It's better to keep a hard copy until you've settled all accounts.

[Meya]

Thanks! but I hate to part ways with my $25 or any fee for that matter. just to get a cli. LOL . . . Do I think I'll just leave my cl alone for the meantime. :D

It doesn't hurt to ask, they did not do a hard pull on me. I know some creditors say they do, but actually never do it. I guess that is why they say "May" pull an updated report. Macy's ticked me off when they did it.

[krave]

It is hard but a good "rule of thumb" is to give a new account a chance to mature for six months. Some banks want a year. I have read Walmart would look at four months. Don't know myself. Card issuers want to see usage and a good payment record. For rebullders it is really important.

I guess you're right about Walmart would "review" your account after 4 months. I just checked my Walmart CC account online and I just found out that they gave me an $800 CLI bringing my current credit limit to $1,200. And since I also have a JCP CC (they're both GEMB), I also checked it online and it also showed that they increased my limit $800, bringing it to $1,500!

They gave me CLI without me even asking for it. yay!

[Wanderer]

krave - totally awesome. For some of you there is a credit guru. Congrats!

[belle]

I guess you're right about Walmart would "review" your account after 4 months. I just checked my Walmart CC account online and I just found out that they gave me an $800 CLI bringing my current credit limit to $1,200. And since I also have a JCP CC (they're both GEMB), I also checked it online and it also showed that they increased my limit $800, bringing it to $1,500!

They gave me CLI without me even asking for it. yay!

Cool! Does that mean you pay alway everything on time? Do you have any idea of their reasons for increasing your CLIs?:)

[julienne]

In order for you to get your score you will have to contact the three credit reporting agencies, TransUnion, Experian and Equifax or go to http://www.annualcreditreport.com/.

Is there a fee everytime I get my score from each agency?

[kdb030609]

Wow Congratulations !!! A CLI of $800 on two separate GEMB accounts. Without requesting it is very good. What kind of use are doing with the accounts . You're definitely doing something they like ! The most I've ever received without requesting it was $500 on my Universal Am Ex last year.

[krave]

Cool! Does that mean you pay alway everything on time? Do you have any idea of their reasons for increasing your CLIs?:)

I use my Walmart CC every month, and PIF each month.

I used my JCP CC heavily when they approved me last December 2009, PIF.
Used it again after 2 months just to get some activity on it (I also use it for purchases at Rite Aid). paid in full as soon as i get my statement.
Then used it again last april 2010, also PIF.

haven't got the chance to use it again yet... =)

[krave]

Wow Congratulations !!! A CLI of $800 on two separate GEMB accounts. Without requesting it is very good. What kind of use are doing with the accounts . You're definitely doing something they like ! The most I've ever received without requesting it was $500 on my Universal Am Ex last year.

Thanks! I requested for an increase in my Walmart card earlier, but was denied due to the fact that I a "short credit history" with them. But I guess I was lucky that after approx. 4-5 months of having the cards, they reviewed my accounts and got CLIs.

I just use my cards and PIF each month. =)

[Eldarwen]

With this credit climate, I never ask for CLI's. I find that the less you do it, you are more likely to fly under the radar and not get CLD's or ratejacks. If creditors give me a CLI and I don't have to ask for it, then it's great.

[Joeyman]

I use my Walmart CC every month, and PIF each month.

I used my JCP CC heavily when they approved me last December 2009, PIF.
Used it again after 2 months just to get some activity on it (I also use it for purchases at Rite Aid). paid in full as soon as i get my statement.
Then used it again last april 2010, also PIF.

haven't got the chance to use it again yet... =)

You use your JC Penny store card at Rite Aid? I didn't know they had a relationship. O_o

[ColoNative]

You use your JC Penny store card at Rite Aid? I didn't know they had a relationship. O_o

I know, I thought it was CVS. Not bad either way.