Question : How do I request an increase in my credit limit?
I just found out that keeping my credit debt percentage at 25% of my credit limit helps my credit score. I have a $500 credit limit and would like to spend up to $250, so I'd like to upgrade my credit limit to $2000 to keep my credit debt below 25%. Is this a good idea?
- asked by Malaia
All Answers:
Answer #1
yesCall the 800 number and askIf your credit isgood they will do it immediatly
- answered by idtshadow
Answer #2
Contact the company by the # on your card.
- answered by wendy a
Answer #3
Just call the customer service number on your cardand ask. If you have a spotless payment recordthey will probably raise it.
- answered by information_police
Answer #4
I think you can also do it online if you haveaccount.
- answered by brandy s
Answer #5
This is a dumb idea. We're talking about 250bucks. Either use the card then pay it off withintwo months or save the 250 and pay cash. Also, itisn't really going to help your fico score. Ficois based on 5 things - Payment history (35%),Amounts owed (30%), Length of debt history (15%),New credit (10%), types of credit (10%). Nowhereis using 25 percent of your credit limit factorinto the equation. Putting another 250 on a cardgoes into the amount owed which is 30 percent ofyour fico equation. You're idea hurts you.Finally, I can't imagine a credit company agreeingto increase your limit from 500 to 2000 dollars.Just pay cash or pay it off quickly.
- answered by JB
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