Tips to Increase the credit line of my card

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kingson
 
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Tips to Increase the credit line of my card

Postby kingson » Wed Oct 28, 2009 4:49 am

I have a Chase business credit card want to increase the credit line , My company turnover is around 2,00,000 USD a year. Before when i applied it was only 80,000USD. My current credit line is 20,000 USD when i applied at the start i need to increase it to 50,000 usd how to do it now.


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Cucumber
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Postby Cucumber » Fri Oct 30, 2009 4:22 am

I don't know if it's as bad in the UK as it is here in the US but small businesses have really gotten shafted by the banks because they are worried about defaults. With so many business failures they have really cut back limits for them. It may be hard to get your limit high right now. Have you tried calling them to see if they would raise it?
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DoingHomework
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Postby DoingHomework » Fri Oct 30, 2009 4:55 pm

kingson wrote:I have a Chase business credit card want to increase the credit line , My company turnover is around 2,00,000 USD a year. Before when i applied it was only 80,000USD. My current credit line is 20,000 USD when i applied at the start i need to increase it to 50,000 usd how to do it now.


Your best route is to call Chase and ask for your limit to be raised. If they say no then ask what you need to do to get it raised.

It might be difficult as was already said because this is a business card. But if you agree to have Chase handle payroll or cash management they might up your limit.

Alternatively, talk to smaller banks. They would probably be happy to work with your business. That is a decent turnover for a small bank.

divea
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Postby divea » Tue Nov 03, 2009 8:35 pm

You may be able to use both you and your spouse's income for the household income that might get it higher.

ajdv
 
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Postby ajdv » Thu Nov 12, 2009 4:04 am

Your best route is to call Chase and ask for your limit to be raised. If they say no then ask what you need to do to get it raised.

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Postby Cucumber » Wed Nov 18, 2009 2:22 am

ajdv wrote:Your best route is to call Chase and ask for your limit to be raised. If they say no then ask what you need to do to get it raised.


Good luck with that! Chase is cutting up limits now like the Vince w/ the Slap Chop
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