feedup Posted April 27, 2007 Report Share Posted April 27, 2007 Right now one of the biggest challenges is my debt to avail credit ratio. I would LOVE to pay off more of the debt but can't. (at least not in the short run)SO ... my thinking is that the other way to improve this ratio is to increase the amount of credit I have available. I realize that running out and applying for a bunch of new cards is not the answer; however what about increasing the limit on those I already have?Bottom line - how should I go about asking? On what grounds should I ask for the request? What can I do to improve the chances of being told YES Link to comment Share on other sites More sharing options...
txsquirrel Posted April 28, 2007 Report Share Posted April 28, 2007 When I asked for a credit line increase they pulled my credit report then turned me down. Also it showed up as a hard pull. I thinking that the best way to get it is to pay the card down first. Link to comment Share on other sites More sharing options...
malcolmkms Posted April 28, 2007 Report Share Posted April 28, 2007 I'm in the same boat feedup with the utilization so I've been concentrating on paying down accounts. When I asked about a credit increase (thinking the same thing, this would reduce my utilization) I was told that they would run a credit check so I decided against that because of the inquiries, plus I didn't think they would approve the increase based on the credit report or it would be minimal. Good luck to you, stay positive, and hang in there. Link to comment Share on other sites More sharing options...
SugarNspice Posted April 28, 2007 Report Share Posted April 28, 2007 Ask if they pull your report. Some will even do an account review. It's always good to check before. Link to comment Share on other sites More sharing options...
feedup Posted April 28, 2007 Author Report Share Posted April 28, 2007 This is helpful! SO my next question is that when they do offer a line increase (without my asking) is this also after a hard pull? Also, does anyone know if the criteria is HIGHER or about the same as someone applying for a new card altogether? For example if you know that a score of 620-650 should get you approved for the card initially; does your score have to be around the same or higher? Link to comment Share on other sites More sharing options...
txsquirrel Posted April 28, 2007 Report Share Posted April 28, 2007 Good Question. I was wondering the same thing. Link to comment Share on other sites More sharing options...
SugarNspice Posted April 28, 2007 Report Share Posted April 28, 2007 I've noticed from experience when I would get a CL increase without asking for it it would be listed under soft inquiries. As far as scores go I'm not sure because I still had CL increases with a lower score than when I applied. Link to comment Share on other sites More sharing options...
FICOrebound Posted April 28, 2007 Report Share Posted April 28, 2007 That is not fair they should do soft inquire each time. Link to comment Share on other sites More sharing options...
CleverCynic Posted April 29, 2007 Report Share Posted April 29, 2007 I just tried the JCPenney increase request link... it went straight to a page saying they couldn't increase it at this time and a letter would be sent explaining why. It was VERY quick and I don't think a credit report was involved because it didn't disclose and also was just...too quick as I said. I think it is because the account isn't a year old yet. I've paid the card in full every month since I've had it. Link to comment Share on other sites More sharing options...
zowie Posted April 29, 2007 Report Share Posted April 29, 2007 when i have called and asked for a CLI, i always ask if it is a hard or soft. On BOA and AMEx website where you ask for an increase if it doesn't say they will pull your credit it will be a soft. if they are gonna pull they will ask you first. Link to comment Share on other sites More sharing options...
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