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| How to increase your credit limits? http://www.propertymaps.com/village/viewtopic.php?f=3&t=431 |
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| Author: | gabal [ Wed Aug 06, 2008 2:39 am ] |
| Post subject: | How to increase your credit limits? |
I have a credit card that is almost to its limit. Normally I would never want to increase my credit card limit, but an emergency situation has occured and I need money as soon as possible. What does a credit card company look at to determine if you are eligible for a credit card limit increase? Will increasing my credit card limit hurt my credit rating? What will a credit card lender look at to determine if I qualify? |
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| Author: | ginsoo [ Thu Aug 07, 2008 12:59 am ] |
| Post subject: | Re: How to increase your credit limits? |
I understand there are times when you need more money from your credit card lender to pay for emergency expenses, but I would try to avoid raising your credit card limit because it will affect your credit score. in addition, the larger the amount a lender is willing to trust you with, the more it may influence another credit card lender to grant you a similar credit line, which will generate an additional credit card. This of course, will look unfavorably on your credit report. Your best choice is to save your money and avoid credit cards as a quick source to money. |
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| Author: | heigada [ Mon Aug 11, 2008 2:10 am ] |
| Post subject: | Re: How to increase your credit limits? |
If you need emergency money, I suggest applying for a loan from your bank if you are unable to be approved for an extension on your credit card limit. One of the benefits of getting a loan is lower interest rates and a lower payment plan. In addition some people who take out a loan have better payment policies such as if you become unemployed during the life of the loan you might be able to defer your loan payment for a specified amount of time so you can become financially secure again. |
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| Author: | jamesquay [ Fri Aug 22, 2008 11:14 am ] |
| Post subject: | Re: How to increase your credit limits? |
I suggest calling your credit card company up and threatening that you are going to close your account with them. Usually credit card companies don't want this to happen and will immediately try to find something that will make you stay, such as lowering you interest rate. In your case, you can request a larger credit limit. Chances are if your a good customer and pays the min balance every month without being late, the credit card company might just extend your credit to keep you as a customer. |
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| Author: | webly [ Mon Nov 03, 2008 1:56 pm ] |
| Post subject: | Re: How to increase your credit limits? |
Not too long ago my credit card company bumped me to a diamond membership. This qualified me for more credit just because I pay my monthly payment on time. However, I was amazed to realize that the company also kept my previous credit policy plan. This means that I have two credit cards under the same company. Each credit card has a separate credit limit. I was shocked to see this on my monthly statement. One credit card has a credit limit of $15,000 and the other credit card has a credit limit of $25,000. Of course, I'm no where near these limits and don't plan to, but for others it can be tempting. |
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