Credit limit increase

tracy24582_2

If you ask your credit card company for a limit increase and they refuse, is there a chance they could then reduce your limit to ensure you don't max it out?

hattiefats

They can but from my own experience they didn't until I made late payments/maxed out card. This was a couple of years ago.If you are maxing out the card each month and only making minimum payments then they might start reducing your limit. You might be better off getting increased overdraft if you need the cash.
Sorry its not great advice but just thought i'd say how it worked for me! (Oh and I have paid it all off now and have a new mse attitude to money!!)

Dylanwing

My experience is that limits are getting very random. The Card Companies seem to be getting so hung up on computer credit scoring that past history and common sense are flying out of the window.

Chrysalis

yeah this seems the case with anything financial, a massive over reliance on computer scoring. It doesnt matter if you been with a bank 20 years eg. they will still typically check the computer based on external credit and score you on that.

I get the impression capital one do monitor your record with them tho as I have had 4 increases so far in a 2 year period. My limit is now 10x my starting limit.

debtdestroyer007

my cap 1 classic - i have now had for 2 years and still no increase.....

everytime i put in a request for an increase, they reply back saying, u r not eligible at the moment, but we will write to you once your account can get an increase

what a load of bull****

bingy_burge

debtdestroyer007 wrote: »

my cap 1 classic - i have now had for 2 years and still no increase.....

everytime i put in a request for an increase, they reply back saying, u r not eligible at the moment, but we will write to you once your account can get an increase

what a load of bull****

#

did u not get the 4th statement increase?

Have you ever missed a payement ? Gone over limit?

Chrysalis

debtdestroyer007 wrote: »

my cap 1 classic - i have now had for 2 years and still no increase.....

everytime i put in a request for an increase, they reply back saying, u r not eligible at the moment, but we will write to you once your account can get an increase

what a load of bull****

asking probably makes you look desperate, all mine were automatic.

never pay only the min payments either.