Question:

When is a good time to ask for a credit limit increase?

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My current credit limit is $2,500 and I want to raise it to $10,000. When should I ask? What about a few days after I pay off my bill?

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  1. People who have one or more significant assets, little debt, and a good credit history will generally be loaned more money.  If you're in that situation, with 0-1 missed payment in the last 12 months, little to no current debt, and assets such as a home or car available, you can probably get your limit raised immediately.  Each financial institution uses its own formulas and calculators to determine how much you may be entitled to, however, don't ever expect a single increase to more than double your current credit as the previous poster indicated.  

    On a side note, I cannot recommend that you get a credit card with a $10,000 limit.  If you don't maintain much of a balance on the card, it can actually adversely affect your overall credit score.  And why would you want or need to put that much money on a card in the first place?

    Consider everything before upping your limit that high.


  2. It depends on how LONG you've had the Card, and whether you've been making the Payments on time... Either way; don't count on it being raised to 10K so quickly... It's RARE for a Credit Line to more than Double at any given time; ESPECIALLY when Credit is "tight" like it is NOW...  :(

  3. If you've shown that you can pay off your present loans on time you shouldn't have too much problem

  4. 2-3 times a year and make a story about going on a vacation or threatening to switch.

  5. A few days after the balance has been paid, call to ask for an increase. Ask for the limit to be raised by the "maximum allowable amount". If you have a $2,500 limit, expect the absolute most they will raise it is by that amount. Most likely by another $1,000. Credit has to be built gradually. Don't expect to quadruple your limit overnight.

    I have a perfect payment history and got an AMEX card that more than doubled my available credit. You can try that route.

  6. depends on how much your balance is

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