Sunday, December 4, 2011

What is the fastest way to get credit card limit increases?

I have several credit cards, each open about 2 years. I have a $0 balance on all of them. I have received a credit limit increase on only one of the cards. What is the fastest way to get my limit increased? Do I need do put charges on the cards to get increases faster?|||You need to use those cards about every 4 months to keep them active. Some accounts are being closed after 9 months of inactivity.





Most banks are cutting limits. Getting an increase is much more difficult now. If you charge 70% or 80% of the limit on a card and pay it off each month, you are more likely to get an automatic increase.|||Use it and pay it back on a normal basis, gradually increasing the comfortable amount. Then ask. They'll give it and be glad|||yup. you need to spend more money in order for limit increases. just pay your bill on time and your good.|||This is not a good time for that.





Just a year or two ago breathing would have qualified you for regular increases...doubling even.





Now it's a different world. Everyone who looks like they might be a risk is having their limits cut and interest rates increased.





My WAG is that you would have to call them up and ask them for it.|||Sometimes it's as easy as picking up the phone. If you have not done so, call the customer service line and ask if your limit can be increased. Of course, the availability of credit is a little more difficult these days, but it doesn't hurt to ask.|||Actively use your CCs and make payments on time to show that you're responsible and capable of handling a larger limit. Then you can wait until they automatically increase it for you or you can put in a request to increase the limit.

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