Financial Information
Will my credit line increase request on my credit card be accepted?
Question : Will my credit line increase request on my credit card be accepted?
I have a $ 2500 credit limit. I am a student and have a job. Last month I requested for a credit line increase of $ 500 for a BofA card. I got it instantly but I need to increase it another $ 500 just to pay this month’s rent. I will be paying most of the card off in mid-September because that is when I will be getting my money. Will I be able to get the increase? Is it better to call the credit card people or request it online and see if I get it instantly? Should I tell them about this (rent payment and will be paying it off in mid-September so need it on a temporary basis)? I have paid $ 500 just 2 days ago, bought a ticket for $ 500 and then paid another $ 350 back today. Will that help at all? I have paid all bills on time (min. payment) and sporadically paid $ 250 or some higher than minimum amount. I have never been late on any payments whether it be the credit card or a water biIl. it best to call and request it? Rent is due by 3rd September. Any help will be greatly appreciated!!!
Had the card for about 9 months now. I do have another cc with a $ 2000 that is almost full too. I had to pay summer fees with that but am slowly paying it off.
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Best answer:
Answer by Phoenix
You just got an increase. Does your financial situation improve such as your salary increase? You can try but I doubt that you will have another increase so soon.
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#2 written by dolly blaine 1 year ago
By implementing these tips you could save hundred of dollars in interest in the long run and put cash back in your pocket in the short term.
1) Avoid using cash and borrowing from family for all your purchases. In the eyes of creditors no credit history is the same as a bad credit history. You may get away with paying cash for your car but when you buy your first home it will come back to haunt you. Even if you can afford to borrow or pay cash try opening an account to buy your furniture, automobiles, or home improvements. A diverse credit background will help with your credit score.
2) Your credit report tells all. Do not lie or stretch the truth to lenders, banks, or employers. They will easily catch you and the consequences are not worth it.
3) Do not cancel credit card accounts to improve your credit. The intended affect may be the opposite of what you expect. You can hurt your credit by canceling your credit cards; especially if you have a long history with the account. Losing a ten or twenty year credit history isn’t worth it. If you absolutely must stop using a card, try shredding it. An open account that doesn’t have a balance looks far better then no credit account at all.
4) Starting early is always better when establishing credit history. Getting a teenager or college student a credit card is a great way to get their history started. For those who don’t trust their child’s judgment yet there are many prepaid cards that report to credit bureaus. Read more from: http://www.credit-card-gallery.com/article/136,Seven_Must_Know_Credit_Tips
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#3 written by Lillie A 1 year ago
You can try it but nore than likely they are going to tell you no because you just got one and they need to see how your handle your bill with the increase you just got. Dont tell them your story, they may look at it as you cannot handle your debst and may be overextended ( depends on the customer service rep you get). Try opening a new card, that is not wise because you are over extendeding yourself and you should not get into anymore debt in general but you have a better chance of getting a new card ( and having it rushed to you) than getting another increase so soon. Good luck ( ps read into using too much credit…you dont want to get caught up where you have bad credit after school)
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