When should you ask for credit limit increases?

[sg2416]

I too received my cap1 in 10/08, from The initial cl of 300 to 750 came in may 09. I was really shocked when I got another cli in July which increased to 1,000.00, this was not supposed to happen until sept, 09...will see if i get another one. I never called any numbers to request a cli on any of my cards, especially gemb....they have lost their minds. If this helps, I live in Oklahoma, not sure if demographics play a roll or not.

[Brian23]

I too received my cap1 in 10/08, from The initial cl of 300 to 750 came in may 09. I was really shocked when I got another cli in July which increased to 1,000.00, this was not supposed to happen until sept, 09...will see if i get another one. I never called any numbers to request a cli on any of my cards, especially gemb....they have lost their minds. If this helps, I live in Oklahoma, not sure if demographics play a roll or not.

WOW! I had to wait the full 4 mths for the 2nd credit steps increase... Congrats... I gave up calling them and asking for a CLI, cause I called shortly after I got the other credit steps and the rep told me that they were frozen from offering anything at the time. I figured I would wait it out till 6 mths had passed on the credit steps.

[charonh]

I too received my cap1 in 10/08, from The initial cl of 300 to 750 came in may 09. I was really shocked when I got another cli in July which increased to 1,000.00, this was not supposed to happen until sept, 09...will see if i get another one. I never called any numbers to request a cli on any of my cards, especially gemb....they have lost their minds. If this helps, I live in Oklahoma, not sure if demographics play a roll or not.

Maybe Capital One isn't in as bad shape as GEMB. I couldn't stop laughing after I read your post, because they truly have lost their minds and it doesn't appear that they'll be finding it anytime soon. They are closing accounts with small limits ($300) with no histories of late payments, decreasing already pitiful credit lines of $175 to $75. They're a joke.

[rsty99]

I too received my cap1 in 10/08, from The initial cl of 300 to 750 came in may 09. I was really shocked when I got another cli in July which increased to 1,000.00, this was not supposed to happen until sept, 09...will see if i get another one. I never called any numbers to request a cli on any of my cards, especially gemb....they have lost their minds. If this helps, I live in Oklahoma, not sure if demographics play a roll or not.

Yes I also shut down both my GEMB cc.

Todd

[ColoNative]

Yes I also shut down both my GEMB cc.

Todd

GEMB is a riot. Maybe now that GE has unloaded NBC Universal, they will have more to lend.

[eugene66]

GEMB is a riot. Maybe now that GE has unloaded NBC Universal, they will have more to lend.

I closed all my Gemb accounts last year and now they keep sending me pre approvals for the chevron visa........no thanks

[belle]

This may not be what you're wanting to hear but I have never requested a credit line increase - Never needed to. As long as there is no default, the creditors issue credit limit increases on their own volition. When the creditor initiates the credit inquiry on their own, it is a soft inquiry (which will only be visible to you) with no effect on your credit report.

I agree. HSBC can increase your credit limit without being asked as long as you pay on time and in full. :)

[hjm331]

HSBC has never been a lender that grows with their consumers. They approve you for a new account when others won't and open doors to better cards. They offer prime cards but most of their accountholders are consumers who are building/rebuilding their credit.

[julienne]

HSBC likes giving CLI's every 6 months.

really? I'll observe my billing statements to see if it also applies to my limit coz I'm still trying to pay my dues to zero out my bill.

[julienne]

RivasGlo, I wouldn't depend on my computer to hold the files for me. You never know when your computer might crash. I used to have an external hard drive for 2 years and thought it was unbreakable. The external hard drive contained valuable info that I never backed up on CD and it crashed last month and I was never able to get my info out of it. I learned a lesson the hard way.

Some creditors' website (with your login security) keep their clients' electronic statement for 6months so you don't necessarily have to keep a copy in your harddrive.

[hjm331]

Some creditors' website (with your login security) keep their clients' electronic statement for 6months so you don't necessarily have to keep a copy in your harddrive.

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.

[Wanderer]

All - this "green" paperless thing saves the mailer money NOT you. Also, you don't have any physical evidence if a mess were to develop. Think about it. I make all my business connections mail me bills, invoices and the like even proof of deposits. NO I don't trust!

[hanna]

All - this "green" paperless thing saves the mailer money NOT you. Also, you have any physical evidence if a mess were to develop. Think about it. I make all my business connections mail me bills, invoices and the like even proof of deposits. NO I don't trust!

I hope I won't have to encounter any problems with my creditor coz going paperless is convenient for me.

[Wanderer]

All - you can still do online business... you make them send you paper bills. Everybody has to do what works for them. I have had a BK so I am very through in what I do. No one else is going to cover my back! This I know from living with things for years. The big boy banks won't help!!!

[Aleatha]

I thought this topic was for "when should you ask for credit limit increases". You should ask for credit limit increases with the banks or CU went you know you are a responsible paying customer with your CC and that you PAID ON TIME. Please makesure that you credit score is around 700 or better and you do not have to many inquires.