Credit Card Limit: Fastest Way To Raise?
- Thread starter Cashito
- Start date
I heard Capital One are giving high limit gold credit cards to everyone, regardless of your credit. At least that's what I see from their adsense banners all over the place.
Call your credit card company, ask them what they can currently raise your limit to, and go from there. Tell them what you're using it for (assuming ad spend from media buys) and why you need higher daily limits, and they'll likely run your credit and raise to an amount that they deem appropriate (the latter will happen over a few days, not likely to happen over the phone).
If you can...Buy a large asset...When I got my new car I decided to do monthly payments for four years cause it was 0% financing so I figured just leave the rest in a bank and gain 5% interest on it. About two months after I did that all my cards limits jumped up about 400%...
every 6 months, you can call up and ask to raise your limit (as well as drop your interest rate). i usually try to pay it off or bring down the balance on not only that card, but all my other cards before i ask. they're going to check your credit report cuz of the new laws/credit squeeze, so try to group all your cards together when asking.
weird story actually: i tried my hardest to raise my limit on my amex blue but could never get it raised for months even with awesome credit. when i maxed out the card buying a few things that would be paid off that month, they tripled my limit out of the blue without me asking.
weird story actually: i tried my hardest to raise my limit on my amex blue but could never get it raised for months even with awesome credit. when i maxed out the card buying a few things that would be paid off that month, they tripled my limit out of the blue without me asking.
Just called in to a card the other day, and said "I'm spending (33% of credit limit) per day, and making profit on it. I can't keep sending you small checks every 3 days and hoping it gets processed on-time, I need these charges to go through EVERY DAY. I have paid it in full every 3 days, 5 times in a row. Please give me 5x the current limit." They gave me 4x the current limit *shrugs*.
thats correct. You can also do it with CDs ( certificate of deposits )
you open one with the bank you want the loan from ( yeah they pay shit these days but at least is something ). Now, you get a loan and use the CD as collateral. Usually the loan will last as long as the CD. If the CD matures before then it is renewed until the loan is repaid.
Not only you'd get a nice interest on the loan but you can subtract the APR you are already making on the CD...
"small checks"!?? lol WHAT? Who the fuck sends the credit card company a check anymore? (Who uses checks for anything anymore?)
Don't you pay them straight from your bank account online?
True. That and tell them you have other credit cards that have contacted you about getting a higher credit line, but you didn't want to go with it since you are so loyal with said cc company and want to know what they can do for you.
I work for the banks doing asset litigation, usally vehicles, this question comes up alot when repo'ing. Best way to do it is as you said make a big spend.
Try not to max it out, go near your limit but not to it. This shows banks you arn't abusing the power by using every last drop (trust me it works).
You can choose to pay it off daily, which is good or weekly which is just as good, they won't measure it by days, aslong as you are making payment on time especially every week. Everyday should make your case stronger if the person you are asking if looking at your payments.
Once you make a big spend on the card and pay it back, give at least a few days wait before using it again. Banks often see continual use as you are dependant upon credit and may fall into arrears in the near future if someone goes wrong.
Just my advice for a repo man's experince
I work for the banks doing asset litigation, usally vehicles, this question comes up alot when repo'ing. Best way to do it is as you said make a big spend.
Try not to max it out, go near your limit but not to it. This shows banks you arn't abusing the power by using every last drop (trust me it works).
You can choose to pay it off daily, which is good or weekly which is just as good, they won't measure it by days, aslong as you are making payment on time especially every week. Everyday should make your case stronger if the person you are asking if looking at your payments.
Once you make a big spend on the card and pay it back, give at least a few days wait before using it again. Banks often see continual use as you are dependant upon credit and may fall into arrears in the near future if someone goes wrong.
Just my advice for a repo man's experince
I can definitely agree to this!
I would actually pay off more than your balance so you have a credit. So if your balance is 1k pay $1500 and spend it all every month. In my mind that should be a good reason to give you a higher balance.
^^
fuck 1500... ive spent twice that b4 i wake up in the morning... id hope its way more then that...
OP... get an amex ... its a charge card different from credit card... and its capped on your spending habits (basically unlimited if you call them)...
fuck 1500... ive spent twice that b4 i wake up in the morning... id hope its way more then that...
OP... get an amex ... its a charge card different from credit card... and its capped on your spending habits (basically unlimited if you call them)...