Comments on: My Credit Line Got…Increased? http://www.debtkid.com/my-credit-line-gotincreased Get Out of Debt @ DebtKid.com Tue, 16 Mar 2010 07:14:50 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: abbydabby http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19446 abbydabby Tue, 09 Jun 2009 11:10:30 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19446 It's happening everywhere, these companies are desperate now they have lost so many risky customers. It’s happening everywhere, these companies are desperate now they have lost so many risky customers.

]]> By: Ryan http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19293 Ryan Mon, 18 May 2009 17:40:14 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19293 To speak to the lowering credit available, I have had a particularly annoying experience lately. My cards were not maxed, but I was in need to pay down debts. I was making great headway on paying off debts, then this mess all hit. They started slashing my available credit like it was the cool thing to do, and have it set up to automatically drop my limit to the next highest $100 mark every time I make a payment. Not that I am interested in keeping insanely high credit limits, but here is how it gets annoying. <b>They cut my limit, then charge my finance fee, which puts me over my limit, then charge me for being over the limit</b>. I was $10k under my limit before they started slashing the available credit and now I have had to pay over limit fees twice because they give me a razor thin margin to work with. Pay too much and my credit limit gets lowered, and if there is not enough room on the card for the finance charge I am screwed. To speak to the lowering credit available, I have had a particularly annoying experience lately. My cards were not maxed, but I was in need to pay down debts. I was making great headway on paying off debts, then this mess all hit. They started slashing my available credit like it was the cool thing to do, and have it set up to automatically drop my limit to the next highest $100 mark every time I make a payment. Not that I am interested in keeping insanely high credit limits, but here is how it gets annoying.

They cut my limit, then charge my finance fee, which puts me over my limit, then charge me for being over the limit. I was $10k under my limit before they started slashing the available credit and now I have had to pay over limit fees twice because they give me a razor thin margin to work with. Pay too much and my credit limit gets lowered, and if there is not enough room on the card for the finance charge I am screwed.

]]> By: will knight http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19289 will knight Sun, 17 May 2009 20:28:42 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19289 i would return the postcard back to sender with the note: "NO THANKS." i would return the postcard back to sender with the note: “NO THANKS.”

]]> By: LC http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19284 LC Sat, 16 May 2009 20:01:02 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19284 Sorry, but I have to call you out on this. I see a lot of debt-addict type thinking here, with the obsession with credit limits and FICO scores. Your credit days are behind you for a while. Just face it. You are so much better off not being a slave to the banks like you are right now. You are buying your freedom right now. Have a birthday party when you become debt free. Sorry, but I have to call you out on this. I see a lot of debt-addict type thinking here, with the obsession with credit limits and FICO scores. Your credit days are behind you for a while. Just face it. You are so much better off not being a slave to the banks like you are right now. You are buying your freedom right now. Have a birthday party when you become debt free.

]]> By: MB http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19281 MB Sat, 16 May 2009 15:49:04 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19281 I always ask my credit cards to cease increasing the credit limit when they get to about 8K. I would never spend that much in a single month, and I've heard somewhere that higher credit limits put you at greater risk for identity theft. Does anyone know if that is true? I always ask my credit cards to cease increasing the credit limit when they get to about 8K. I would never spend that much in a single month, and I’ve heard somewhere that higher credit limits put you at greater risk for identity theft. Does anyone know if that is true?

]]> By: Lisa http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19280 Lisa Sat, 16 May 2009 11:33:33 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19280 Is there a credit crunch? I too had had an increase on one of my CC but I don't really want it - I have also be reappoved for a loan - it's that nice! but I don't want it either. Must be my credit rating is so good now they all want me back in debt! Is there a credit crunch? I too had had an increase on one of my CC but I don’t really want it – I have also be reappoved for a loan – it’s that nice! but I don’t want it either. Must be my credit rating is so good now they all want me back in debt!

]]> By: debt kid http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19276 debt kid Fri, 15 May 2009 19:02:11 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19276 @ Rick - No charge. I'm thinking of putting a few thousand in a secured credit card though to get a decent limit that will report on my score. @ Rick – No charge. I’m thinking of putting a few thousand in a secured credit card though to get a decent limit that will report on my score.

]]> By: Craig http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19275 Craig Fri, 15 May 2009 18:55:32 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19275 I recently called up my CC company and had them raise my credit line. I don't need it to be raised, but having it raised helps your FICO score. I would recommend you trying this out especially since you pay in full every month. Just tell them you have some upcoming expenses and would like to increase your line. Takes minutes. I recently called up my CC company and had them raise my credit line. I don’t need it to be raised, but having it raised helps your FICO score. I would recommend you trying this out especially since you pay in full every month. Just tell them you have some upcoming expenses and would like to increase your line. Takes minutes.

]]> By: Rick http://www.debtkid.com/my-credit-line-gotincreased/comment-page-1#comment-19274 Rick Fri, 15 May 2009 18:33:06 +0000 http://www.debtkid.com/my-credit-line-gotincreased#comment-19274 Some of the "credit rebuilder" cards charge you a "credit limit increase fee". I hope yours isn't one of these. That's why they would usually want to increase your credit limit by $50 -- so that they can charge you the $29 (or whatever) credit limit increase fee. Some of the “credit rebuilder” cards charge you a “credit limit increase fee”. I hope yours isn’t one of these. That’s why they would usually want to increase your credit limit by $50 — so that they can charge you the $29 (or whatever) credit limit increase fee.

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