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Best time to ask for a credit card limit increase ?

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  • Nasqueron
    Nasqueron Posts: 10,627 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    AnotherJoe wrote: »
    Yes you can ask on the website via a form without needing to phone, so I'd presume it will be judged by an algorithm not a person, hence me wondering what the algorithm favours. Close to the limit, or paid off ?
    This is the third occasion I've had the "you are close to your limit" message so I guess its not going to happen automatically. I think I'll wait on the grounds that if their algorithms are set to increase limits for high spenders they would have done it by now. I'll give it til next week when the payment goes out and then ask.


    It will always be judged by a computer first, someone on a call centre line won't make the decision. They will have a record of your spending each month, paying off in full but showing you could do with more of a limit shows good behaviour. Purely my opinion but if you were asking for a limit increase while you have a large balance suggests you are perhaps expecting financial trouble and want to run up more debt while you can, I can't image the system would make a decision to give you credit or not based on whether you had debt or not as it would enable you to game the system

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

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