Question : How to predict credit limit change on credit cards?
How to predict credit limit change on credit cards?I have two credit cards . I never missed payments. Usually I would pay off the balance in full. I am wondering how popular credit card companies increase credit limit. DO they double the limit? I am in AustraliaI heard limit practically doubles every 6 months. Is that so?
- asked by Swagato
All Answers:
Answer #1
I have a capital one card and only have receivedone credit limit increase in the past 3 years I'vehad it. I've read that they do go by how much youpay on your balance and if you are on time. Every6 months or so I believe the credit card companiesgo through and see who is eligible. You couldalways call them and ask for an increase if youneed it. If you're not eligible they will send youa letter (from my experience) as of why you cannotget the increase. Hope this helps!
- answered by amber8949--
Answer #2
Every company has their own policy. There is noreliable way of predicting. Some base it oninternal factors only; others base it also oncredit reports. If you want a CLI you do not haveto wait for the company to offer it to you, youcan call them and ask for one.
- answered by clawedlemew
Answer #3
It really depends on which card and your usage. If you use the card and pay if off every month,you might see an increase every 6 months to year. You're move likely to see automatic increases ifyou run the balance up and pay in full or at leastmake large payments.How much the increase reallydepends on what your current limit is. If yourlimit is only $500, they might double it. But ifyou limit is $2000, they might only increase by$700.
- answered by bdancer222
Answer #4
I agree with the poster above. I had a credit cardwith a 7k limit and a 3k balance. I paid theentire 3k off one month and sure enough, theyincreased me to 10k....funny thing about it was Iapplied for a jcpenny card a few weeks ago (for aspecial discount promo) and they only found me'worthy' of a $250 credit line...not that itmattered, my purchase was about $150 but I couldnot see how one card thought I was worthy of 10kand the other only $250. I dont get it
- answered by lisa s
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