
Originally Posted by
Melonie
^^^ actually, this has changed in the last 3 months as regulatory guidance has instructed banks to tighten their creditworthiness standards. Now, instead of 'pushing' additional unsecured credit to credit card holders with 'average' credit rating, credit committees are starting to take a much harder look at individual financial situations. In many cases, credit committees are unhappy with the credit limits that have already been approved credit card holders with 'marginal' credit rating.
Bottom line is that regulatory guidance now requires lenders to take a hard look at the amount a person earns, and at the amount they are already committed to spending in order to pay existing loans and credit card balances, as well as the cost of living they must pay (which is rising). Thus if you don't have the verifiable income, and you do have the other loans and credit card balances, and if you live in a high cost of living area (which is rising faster), credit committees simply aren't going to increase limits just because the cardholder made a couple of months of on-time payments.
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