How often can i ask my credit card company to increase Credit limit?
There are a couple of reasons for this. The first, is that every time you request a credit limit increase, they are going to pull your credit score. This will act as a hit, which lowers your overall score as it appears as an inquiry towards adding more potential debt. Secondly, most credit or store card issues are going to look at your payment and usage history with them as they consider your credit limit. If they see you consistently getting near your limit, but then paying it off each month, their thought process can run along the lines of “Joey will spend $900 of his $1000 limit now…perhaps he’ll spend $1400 of a $1500 limit each month if we raise it”. 6 months of good usage and payments can be used as an indicator of continued good faith. I have a credit card that I’ve had since 1994 or so. I have never requested a limit increase, but I use it a lot and pay it off. As such, my limit is ridiculously high. I like knowing I have a large source of funds for that true emergency…
