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Thread: My credit card upped my limit! Yayyyy!!

  1. #1
    PhillyDancer1982
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    Smiley My credit card upped my limit! Yayyyy!!

    When I logged onto my Citibank Visa's account today, I noticed that they bumped my limit up 67% from the previous limit. Wow! This is coming from a company that is normally very stingy with credit limit raises, too. (They haven't raised my roommate's limit since college, which was 9+ yrs ago for him). It took me nearly a year of begging, pestering, and threatening to close my account, before they made my limit 50% higher. And now, they raised it an even higher increase, without me having to ask for it! I'm excited because this means I can pay off a loan and some other stuff without worrying about how much money I have left over. And of course, I'm gonna have the balance paid off in a month, it's just that August has been a bad month for me money-wise, because 1) the strip club industry is in a "slow" season, and 2) I've been taking time off from dancing to work new non-dancing jobs, but am still in the training period so right now the money isn't great.

    I wonder why they automatically raised my limit? Maybe it's due to a high enough credit score? Not sure, but I hope they do this more often.

  2. #2
    Veteran Member Scout's Avatar
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    Default Re: My credit card upped my limit! Yayyyy!!

    They do it because you have demonstrated that you pay on time.

    They do it in hopes that you spend more.

    They do it so that maybe one day you will carry a balance and they can collect interest.

  3. #3
    Featured Member blondi553's Avatar
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    Default Re: My credit card upped my limit! Yayyyy!!

    i wish mine would up my limit.....all of mine are maxed and i have bills coming up.....sux to be me! but im happy for u.....good job, u r doing something good apparently for them to raise it.....=)

  4. #4
    PhillyDancer1982
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    Default Re: My credit card upped my limit! Yayyyy!!

    Yeah I heard that they raise it because I'm a good customer that pays on time, but I wonder why they didn't raise it last year, when I was still always paying on time? It's probably because I've been constantly near-maxing out my card, then paying it down the very next day, then near-maxing it out again, paying down the balance by the statement date(because that's the balance that gets reflected on my credit report and calculated into my credit score)...it was probably pretty obvious that I was a good customer whose spending needs required a bigger limit. I hope they keep with the increases! Increased credit limits strengthen my credit score because it shows lenders that I am trusted to be responsible with a big limit.

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    Default Re: My credit card upped my limit! Yayyyy!!

    Quote Originally Posted by blondi553
    i wish mine would up my limit.....all of mine are maxed and i have bills coming up.....sux to be me! but im happy for u.....good job, u r doing something good apparently for them to raise it.....=)

    This is probably why they aren't upping your limit. Credit card companies get nervous when your card(s) are maxed out. If you pay it off/way down, they are more likely to extend you more credit, as they see you are able to pay your bills.
    I believe you Dottie and you have my support

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    Default Re: My credit card upped my limit! Yayyyy!!

    How funny, they just raised mine too!
    I'm a puppy in the credit world, so after having mine for 8 months they finally upped my limit. Upped it 100% actually!



    Because there ain't no tits on the radio

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    God/dess NinaDaisy's Avatar
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    Default Re: My credit card upped my limit! Yayyyy!!

    No one's said it yet, so I will.

    If your cards are maxed out, it lowers your credit score. A higher credit limit is not an automatical license to go out and spend more. Ideally, you should pay your balance off in full, but since that's not do-able for a lot of people, if you do carry a balance ideally it should be no more than 25-33% of your limit.

    Amounts owed is about 30% of what they factor in to calculate your credit score, so it's not to be taken lightly.
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

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    Default Re: My credit card upped my limit! Yayyyy!!

    I pay mine off every month. I'm way too paranoid about slipping into debt. I'm just happy they upped my limit because I can put bigger items (like tuition payments) on it and not have to worry about having the money in my checking account all at once.



    Because there ain't no tits on the radio

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    God/dess NinaDaisy's Avatar
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    Default Re: My credit card upped my limit! Yayyyy!!

    Quote Originally Posted by hardkandee
    I pay mine off every month. I'm way too paranoid about slipping into debt. I'm just happy they upped my limit because I can put bigger items (like tuition payments) on it and not have to worry about having the money in my checking account all at once.
    Those super-low rate balance transfer checks from the card company can be good for stuff like that too.
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

    Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham


  10. #10
    PhillyDancer1982
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    Default Re: My credit card upped my limit! Yayyyy!!

    Yeah I read that your credit score starts to get lowered when you accumulate credit card balances of 35%+ of the total credit limit. HOWEVER generally the only balances that get sent to your credit reports, are the balances that print on your monthly statements. E.g., if you pay off your balance 100% by the due date, but buy a $1000 TV a few days later before the statement prints on a card with a $1200 limit, you will look "too deep in debt" to other creditors...they won't even be aware that you'd paid your due balance in full, all they see is the statement's balance. That's why I generally make two payments...one payment before the due date, and then a second payment by the statement date so that I can pay down any big purchases made between the card's due date and statement date. The best balance to carry, is around 9% of the limit...it shows that you're nowhere near maxed-out, but it also shows that you still use the credit card enough to have an active revolving balance.

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