Should I request a credit limit increase before a mortgage?

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Should I request a credit limit increase before a mortgage?

Postby 2percentPlus » Tue Jul 31, 2012 2:37 pm

I'm thinking of applying for some investment property loans in the next 2-3 months. I currently have 0 Debt aside from car payment and a 780+ score. All cards are paid off monthly. I wanted to switch my Bankamericard Cash to a BofA Privileges.

I have:
Amex: 6,000
BOA: 14,100
BOA: 25,000
FIA: 25,000
Disc: 25,000
Citi: 22,400

I wanted to raise that BOA up to $25,000 and maybe the Citi, but don't want to bug Citi because my interest rate is insanely low even though I don't use it.

Would it help/hurt any to request a CLI on the small BOA card? I would do this before upgrading to Privileges is they allow upgrades. My plan is to raise the Amex every 60 days up to $30,000, I've neglected that card.

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Postby FutureBillionaire » Tue Jul 31, 2012 2:43 pm

I think some banks are concerned if you have alot of available credit. They assume that you could run up your utilization and not be able to pay your obligations. I forgot what the ratio is called that I am referencing here.
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