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AMEX on crack credit limit $34,000, pulled back at credit crunch to $500, now with the push of a button $1,000. Wow.

it's back was $25k during the crack days, went down to $500 after slight AA for balances too high, asked for $5k, they countered with $1.5k, I accepted.

Just went from 8.5K to 11.2K on a Bus. AMEX Platium Rewards. I asked for 12K.
Are we getting a hard hit to our credit?

Asked for and got a 33% bump on my AMEX card. Will let people know if I get a hard hit.

It sounds like i should be counting my blessings compared to some folks responding on here. My pre meltdown limit was $25k and was reduced to $1.5k during the crisis. I'm 30 and never paid anything late! They had me feeling like one of those folks with bad credit. I was calling them like every week complaining i couldn't use my card because i kept hitting the limit and can you can only pay it once per 24 hrs to get the available credit back. last year, i called them the month before my rebate would be credited (blue cash) it was roughly $3,200 maybe but my limit was still $1500. i was asking them how in the hell that made any sense, to see the pending Cash Back amount, to see my spending patterns, my payment history of never paying late with them or anybody, and having to pay multiple times per week just to use their card, and i still got shot down and stuck with the college student limit.

I'm scared to try the button. lol

something to consider about credit: I have read that in order to maximise one's credit score one should have and use a credit limit to use ratio of about 1/3. For example if one's credit limit in $10,000, then use and pay off about $3,333/month.

Do your own research about this as I am just recalling from memory and this is what I try to do with my own limit/use ratio.

http://www.experian.com/ask-experian/20090121-requesting-a-decre...


or

http://personal-finance.thefuntimesguide.com/2010/12/credit_scor...

I tried this about a month ago with blue cash and was bumped from 3000 to 6000 with no hard inquiry

Fivefooter said:   something to consider about credit: I have read that in order to maximise one's credit score one should have and use a credit limit to use ratio of about 1/3. For example if one's credit limit in $10,000, then use and pay off about $3,333/month.

Do your own research about this as I am just recalling from memory and this is what I try to do with my own limit/use ratio.

http://www.experian.com/ask-experian/20090121-requesting-a-decre...


or

http://personal-finance.thefuntimesguide.com/2010/12/credit_scor...


Stop spreading bogus information. You do not need to carry a balance on your credit card (or even use the card) to maximize your score.

WantTheBest said:   
I'm scared to try the button. lol


I hear ya, but this is your time, just hit the button and get whatever limit you want. If they review, you will be able to defend your 1500 limit. You are fine either way.

funny

theboogeyman said:   Fivefooter said:   something to consider about credit: I have read that in order to maximise one's credit score one should have and use a credit limit to use ratio of about 1/3. For example if one's credit limit in $10,000, then use and pay off about $3,333/month.

Do your own research about this as I am just recalling from memory and this is what I try to do with my own limit/use ratio.

http://www.experian.com/ask-experian/20090121-requesting-a-decre...


or

http://personal-finance.thefuntimesguide.com/2010/12/credit_scor...


Stop spreading bogus information. You do not need to carry a balance on your credit card to maximize your score.



Are you retarded?...did I say anything about carrying a balance on your credit card?...read what I said jerk!

fllniks said:   MFFNike said:   
I went to "Profile & Account Management" and "Account Management". Under Credit Management, one of the options is "Increase your Line of Credit."

Anybody else have any luck? I'm about to try with another one of my AMEX cards.

Hmm...for some reason it does not show me that option at all.


Likewise, however I have a reduced CL from a FR two years back. Are you in the same boat?

$8,000 -> $12,700 instantly.

AMEX Blue Cash - limit was $7,000. Asked for $15,000. Got $12,300.

trex005 said:   Nope, not there for me either. Only options I have are
  • Check the status of a Balance Transfer
  • Check Recent Declines




I have the same. Oh well.

i have Delta options card don't see the CLI option under credit management .

I did AMEX on crack several years ago. I had three cards, jacked two of them up to $24,500, and the other up to about $15,000. Called a CSR and combined them. The result was and currently is two cards about ~$1,500, and my main AMEX card at a tad under $60,000. No FR, no AA. It's all good. Been this way for 4 years.

-Pak

Fivefooter said:   theboogeyman said:   Fivefooter said:   something to consider about credit: I have read that in order to maximise one's credit score one should have and use a credit limit to use ratio of about 1/3. For example if one's credit limit in $10,000, then use and pay off about $3,333/month.

Do your own research about this as I am just recalling from memory and this is what I try to do with my own limit/use ratio.

http://www.experian.com/ask-experian/20090121-requesting-a-decre...


or

http://personal-finance.thefuntimesguide.com/2010/12/credit_scor...




Stop spreading bogus information. You do not need to carry a balance on your credit card to maximize your score.



Are you retarded?...did I say anything about carrying a balance on your credit card?...read what I said jerk!



A bit of both. You don't have to carry a balance, but if you DO then utilization (per card and overall) counts. If you pay off your balance every month it doesn't really matter at what level you keep it as long as its well below 50% on any particular card.

I have one account with my revolving amounts from major purchases like central AC that is at 40% utilization and I pay all my other accounts off monthly.

If you pay off monthly then your balance on credit reports usually is going to show your previous months activity since they tend to report whatever your "final" balance. At least my cards tend to do that.

---
Edit:
My main AMEX is a charge card so its CL isn't as obvious. I have a Blue I never use, but might try just to see what they do. (my charge is Plat so not as worried about them getting shirty unless they are tired of getting an annual fee)

Blue Cash
Previous CL 12,400
Approved Instantly for 20,000

Put 48K on it last year, Househould income of 99,000

Anyone with a 24k limit feeling brave?

Costco TrueEarnings, 15K to 20K, instant approval.

dl73 said:   Anyone with a 24k limit feeling brave?

Naw, I'm too chicken. I'm an unemployed college student with a $25k limit but only charge about $100 a month.

Another data point:

Didn't feel like playing too dangerous since I like my card:

$5,500 -> $7,500 instantaneous.

2500 -> 5000

100% increase. I was a little hesitant, but glad I pulled the trigger.

For those of you like me who did not see the option to increase your credit limit check again.

I checked tonight and the option has appeared in one of my accounts that had the CL slashed as the result of a FR.

Went from $1,700 -> $3,000.

I asked for $3k because I didn't want to risk attention/denial and $3k is what I need to make this a usable card again.

Always good to have a cushion on these things. Thanks OP.

Poked the bear. $5k -> $10.8k on SPG. I requested $15k. $100k HHI.

Clear

$4,200 -> $10,000 instantly

$20k spending last year

No magic button for me

theboogeyman said:   Fivefooter said:   something to consider about credit: I have read that in order to maximise one's credit score one should have and use a credit limit to use ratio of about 1/3. For example if one's credit limit in $10,000, then use and pay off about $3,333/month.

Do your own research about this as I am just recalling from memory and this is what I try to do with my own limit/use ratio.

http://www.experian.com/ask-experian/20090121-requesting-a-decre...


or

http://personal-finance.thefuntimesguide.com/2010/12/credit_scor...


Stop spreading bogus information. You do not need to carry a balance on your credit card to maximize your score.
Actually any small balance - even if it's just $10 can increase your score. Back in the old days when FICO codes were all over the place and you could get a score for $7-$8, I pulled my report a couple dozen times in several month period. I was monitoring with BofA Privacy Guard and when I noticed a change there...inquiry, balance, or otherwise, I'd go and pull my score from myFICO. In one of my experiences, paying off ALL my debt and going to $0 lowered my score by 8 points. Then one the following card, a month later - I had a $10 balance report and I got those 8 points right back. They don't give you higher scores for being debt free. They give you higher scores for managing your DEBT. If you have no debt, you apparently got dinged for that. I have no way of knowing if the algorithm is the same these days, but at one point, it appeared to be true.

jesternl said:   No magic button for me Usually only women have a magic button.

No go for me; link is not available.

-Cardmember since 2004
-Limit slashed from $12K to $7200 few years ago.
-800 FICO, 0% utilization

I don't use the card anyway so doesn't really matter to me.

faztcobra said:   Actually any small balance - even if it's just $10 can increase your score. Back in the old days when FICO codes were all over the place and you could get a score for $7-$8, I pulled my report a couple dozen times in several month period. I was monitoring with BofA Privacy Guard and when I noticed a change there...inquiry, balance, or otherwise, I'd go and pull my score from myFICO.com. In one of my experiences, paying off ALL my debt and going to $0 lowered my score by 8 points. Then one the following card, a month later - I had a $10 balance report and I got those 8 points right back. They don't give you higher scores for being debt free. They give you higher scores for managing your DEBT. If you have no debt, you apparently got dinged for that. I have no way of knowing if the algorithm is the same these days, but at one point, it appeared to be true.

It is worthwhile to note the distinction between having a balance and carrying a balance. You build credit by having a balance on your card when the information is reported to the credit bureau. Information is usually reported at or shortly after the close of your statement. That's the point at which it matters whether you have a zero vs. non-zero balance. If you pay off the statement balance before the due date, you owe no interest. In contrast, carrying a balance means that you don't pay off your statement in full--that a portion of the balance from statement month 1 carries over to month 2. In this circumstance, you pay interest and your credit score is no more affected than if you were not carrying a balance.

No hard pull reported. Anyone else getting this?

Went from $500 up to $2000. Asked for a lot more, but I guess that's all I get. Anyone with two cards try to up the limit on both?

Have an older blue from 2007 with 4k limit
got costco true earnings in 2010 with $5k limit.

Requested $10k on the costco card and it went through instantly.Glad that I did and hope its not a hardpull. Family income $155,000

I can't find the button of CLI and I am wondering if the option is available for me. If you find it, could you please describe where it is?

Thanks.

Man that CLI option was buried. I'm used to Citi's link being pretty much out in the open. I got my Citi up from $800 to $10.1K during college and now their website won't let me do credit increases online anymore. I applied for my Costco AMEX about a year ago and got a $4.5K limit - plenty for my use but I'm starting to use it more.. My last statement balance was almost $1900 and I'd prefer more breathing room.

I asked for $12K and this is what I got:

"Request a Line of Credit Increase

Congratulations!
Your request to increase your line of credit to $12,000 has been approved and will be available for use within 15 minutes."

Hopefully it's not a hard pull, but I decided it was worth it even if it was.

Bottom line: $4.5K > $12K

Stupid question and I apologize in advance - but is there any financial benefit other than having more credit to having a high CLI? I have $25,000 but only use about $8,000 at most... Any money making opportunities here? Please PM me. No app-o-rama stuff.

Friend was told that above $25,000 CL you need to submit income verification.



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