What’s the best way to increase your credit limit automatically?

5 Comments

1. Caveat Emptor says:

   November 1, 2011 at 10:35 am

   On-time payments and low balances. Expect it to take 12 months or more.
2. Greg says:

   November 1, 2011 at 11:17 am

   early might hurt you to. ask for an increase.
3. bdancer222 says:

   November 1, 2011 at 11:41 am

   Credit card companies use to review accounts on an annual basis and offer limit increases. It ain’t that way anymore. Paying on time isn’t enough to get you a limit increase. If you carry balances, it is less likely that you will get an increase.

   Fastest way to get a limit increase is to use about 80% of your limit and pay the balance in full every month for about 9 months. Keep doing that and they will keep increasing your limit …. as long as you don’t start carrying balances.
4. HonA says:

   November 1, 2011 at 11:47 am

   The more you spend the higher the limit.

   It took us 6 years to $6,000.
5. DON W says:

   November 1, 2011 at 11:48 am

   BD (above) is correct. Even for good customers, it is becoming less and less common for the companies to automatically increase your credit limit. The banks are becoming more cautious (about time!) and are trying to limit their losses if customers default. If you have a good record, there’s no reason you can’t call the company and ask if you are eligible for a higher credit limit. The worse they can say is no….

   By the way, there’s no advantage, as far as the bank is concerned, in paying early every month. All they are interested in is that your payment is there by the deadline date.