Request Free Transunion Credit Report
2010
When should I increase credit limit on bank credit card?
I opened a credit card through my bank approximately 6 months ago and started with a $1,000 credit limit.
I have tried to keep spending around 10-20% of my available credit limit and I have not kept any balance and have always paid on-time.
I just checked my free credit report and purchased my credit score and am sitting at 750 (I was at 711 6 months ago). Also, I just paid off an $8,000 (48-month) car loan in less than 30 months so I expect this to reflect positively within the next year.
Anyway, one of the recommendations from TransUnion is to increase the available credit limit with my bank credit card.
Is 6 months too soon to request an increase? If not, how much should I increase my credit limit?
Thanks.
Eek! There’s no need to ever keep balances so ignore that guy. I have credit card limits in the double digits and I’ve never carried a balance.
The only thing you can do is call and ask. I agree that 6 months is a little early for that. I like to wait a year if possible. The other variable is your income. If it has stayed the same or gone up since you opened your account, you’ll be more likely to get a credit limit increase. Good for you, it looks like you’ve done your research and you’re growing your credit well. Keep at it!
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