5/20/2009

If you've been paying your bill on time, I would definitely try to get an increase. I don't see why it would effect your credit scores. Good luck on getting it!

I was told this by barclay's bank, but they wanted proff. Anyway, I apply with just my income and not my husbands, it did not stop me from getting cli's. Just thought I will throw a lil 2 cents in.

HJM331 I might have told you this on a past post but if you want BOA to increase your limit, if you live with your parents, report the total income in the household vs just your income. This was told to me by a BOA rep at a branch office. This alone will make your CLI request more acceptable to the powers that be.

Smcc, I have a perfect payment history with BofA and they haven't given me an increase for a while! They keep denying me because the limit I currently possess is sufficient for my expenses! Oh please, they're telling me how to spend my own money.

rcola71, I know that Bank of America first looks at your payment history and credit usage within the bank and if its to the banks liking they will approve a CLI without a hard inquiry. I had a credit line increase in November, and thinking they would not give me another increase in March, I applied to see what would happen and was approved.

rccola, have you received a CLI on those cards within the past 3-6 months? Creditors usually like giving CLI's every 6 months.

HJM, the credit cards that I currently have are an Orchard Bank MC and Visa, Capital One Platinum, The BEstBuy REwardzone MC, Merrick Bank, JCPenny, JCrew, Bloomingdale's, and Macy's. Should I request the CLI's all in the same day or space them out? :

HELLOOOO! [snap], and if they did, it will be so small until you probably would not notice it.

I'm talking about the Best Buy Rewardzone MC. Yeah, you're right, I don't remember seeing a hard pull on my report from them either. But either way, they don't give the CLI.

Hey HJM, which HSBC card are you talking about? Orchard never pulled a hard inq on me when I used to ask for a cli. Of course they say they will have to but it never showed on my credit report. I think they say that to discourage us for asking for one.

If you receive any sort of CLI, it will increase your score. If your card lender pulls a hard inquiry on your report, yes it will hurt your score. Some companies like HSBC will require for them to pull a hard inquiry on your report in order for them to determine if you qualify for a CLI.

Who's the lender you are trying to get a CLI from?

Hi Rccola, I have been out searching for your info and this should help

1. Accoring to Comsumer Affairs]
Eleven of the 21 banks with universal default policies are willing to reduce the higher rates if cardholders' credit histories improve. Three more banks said it was "possible." Twelve of them said that after six months of improved credit, the rate might be adjusted downward ? although not always to the original rate.
http://www.consumeraffairs.us/news04/2005/ca_universal_default.html

2. According to "Demesne"
http://www.demesne.info/Personal-Finance/Credit-Cards.htm

3. According to credit ratings
If you do become a victim, then consider utilizing a non-profit credit counseling service to help you deal with you debt situation.
http://www.cardratings.com/howtoavoidcreditcardinterestratehikes.html

I hope this helps. It looks like there is going to be a fight with this, but I say pay it down and bring everything back up to date and no late payments for at least 6 months-1 year.

Ouch! That hurts! Holy crap, good question, new ballgame. Ok, how long ago has it been since they have kicked in? If you make (from here on out) constant ontime payments, do not...I repeat....do not go over your limit again, ask them in 6 months or when they are all caught up and shows on your cr.

I think you need a spanking! But, I think you have learned a lesson. Please keep good contact with your cards, they are your best friend and can be your worse enemy. This is why the cli's can be a benefit to us, it can help us from going or should I say spending too much on a low limit card. Put your cards in the drawer and just pay them down.

Unfortunately, the universal default rates have already kicked in Meya!!!! Is there a way I can get the CCC's to reduce the rates?