Will I get a higher limit if I use my card more?

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dbatl13
 
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Will I get a higher limit if I use my card more?

Postby dbatl13 » Sun May 12, 2013 11:07 pm

I received an Orchard Bank card with a $300 limit which is not much, I know had it for about 1 1/2 years. What I started doing is using it all the time but I made multiple payments throughout the month especially before the statement close date to reflect only a few dollars.

I just recently applied for a BofA secured with $500 (was surprised I got it as I was declined a year or two before).

Now those limits are a drop in the bucket for me as make quite a bit of money now. I screwed up my credit during the crash but since came back and have been paying everything on time for the past 3+ years.

So I am just wondering, I keep my utilization with the credit agency pretty much at less then 5% each month but want to know if I use the card a lot and make a lot of payments throughout the month does it flag with the credit company as maybe we can increase the limit?

My orchard I charge about $200 then when it posts I pay it off and I do it like every 2 weeks.

I tried several tactics but none of them mattered one way or another. I wonder with BofA if it would matter?

Also I realize Orchard was just bought by Cap One so most likely they won't touch these accounts until the complete transition this Summer. I can use cash or credit, I just use credit instead of cash to see if I can get more credit but I don't have to use credit at all.


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FastSRT8
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Postby FastSRT8 » Tue May 14, 2013 2:14 am

As the age old saying goes....time heals all wounds.

What you need to do us continue to use your cards. Max out and pay on time. Don't be late and don't be delinquent.

In time, your limit will raise.

Your past history is hurting you. But as stated above, time will heal this.
Carpe diem quam minimum credula postero!

MemberSince99
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Postby MemberSince99 » Thu May 16, 2013 6:27 pm

I would not even think a CLI with Orchard will be a possibility. You may as well use that for what it's intended for and forget that.

The BofA may grow with you. Treat it well I hear they like PIF.

DoingHomework
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Postby DoingHomework » Thu May 16, 2013 6:38 pm

FastSRT8 wrote:As the age old saying goes....time heals all wounds.

What you need to do us continue to use your cards. Max out and pay on time. Don't be late and don't be delinquent.

In time, your limit will raise.

Your past history is hurting you. But as stated above, time will heal this.


I almost agree. Don't max out though. Never have a balance higher than 30% of your available credit, $150 in your case right now. If you pay on time for a few months I bet they will have you up to $3000 by the end of the year. You can spend more than $150 per month by making payments during the month if needed.



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