Question : How do you get your credit card limit raised?
I just got my first credit card and I was wondering how to increase the credit limit on it? Can I max it out and pay the entire bill off each month? Also, how can I get the limit raised and get my credit score increased as well?
- asked by Kay
All Answers:
Answer #1
#1 You call the card company and request a higherlimit.#2 Leave room for any interest to be safe.#3Having a balance and giving them money. i.e.paying the minimum payment or a little more, notpaying it off each month.#4 I would recommend tostay away from them...
- answered by bob d
Answer #2
dont max it, if you go over the limit there isusually a fee involved. You can ask them to boostit, however they may not if its your 1st card. SERIOUSLY-charge a tank of gas a month, pay itoff, dont give them 1 dime in int or financecharges and both your limit and credit score willgo up. I also have free bill pay thru my checkingaccount so I can save money on postage and time onfilling out the check thru them. Took about 6months and they increased my limit by a grand
- answered by dan
Answer #3
Usually you should wait six months before callinga bank and asking for a credit line increase.Since this is your first card most banks won'tgive you one. Some have a policy that after sixmonths of good payment history they willautomatically increase your limit. For example anissuer specializing in cards for new credit andbad credit may initially issue a 300.00 limit. Ifyou pay on time for specific amount of time theymight raise your limit to 500.00. Usually thecredit card company will tell you this to give youan incentive for paying on time.If you want toincrease your credit score don't max out or gonear your credit limit every month. You should usearound 40% of your credit limit. At the most 60%.If you max out your card every month it keeps yourscore lower because it looks like you could be apotential credit risk.
- answered by M K
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