Credit limit increase or another card and transfer limits?

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paparoach429
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Credit limit increase or another card and transfer limits?

Postby paparoach429 » Sun Nov 04, 2012 1:03 am

So as the title says, as far as my Citi Forward card, I've had the card for 1 year and 8 months with no increase yet. Should I ask for a credit limit increase with that card or possibly apply for another Citi card and transfer the credit limit? Whats the best utilization on that card I should have before I ask for the increase? Should I lower it it that amount and wait a certain amount of time or it doesnt matter? If i ask for a relatively low increase with they do it on a soft pull? Whats the best reasons I should give them to make it possible? My limit is $1800, I would like it to be 3k +.


cashback
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Postby cashback » Sun Nov 04, 2012 1:07 am

Just ask for an increase. A year and 8 months is plenty of time for an increase. It will not affect your credit score and with Citi you can do it right online. When I did an increase with them I wanted to increase it by about $7000 and they came back with an increase of $4000. While they didn't give me what I wanted, at least they counter offered and didn't just deny it.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 1:56 am

Was that with a hard or soft hit? Also where exactly is the link to do it online since I've looked for it multiple times and cant find it. Also, is there an advantage on doing it over the phone or online? And what is the best "route" to take on asking for the increase and not getting denied?


cashback
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Postby cashback » Sun Nov 04, 2012 1:06 am

paparoach429 wrote:Was that with a hard or soft hit? Also where exactly is the link to do it online since I've looked for it multiple times and cant find it.


All I know is it wasn't a hard hit because it didn't show up on my report. None ever have with any company I've asked an increase(yes I have been denied before). To get there, sign into your account and at the top there should be a button that says "Tools & Services." That's where it is for me.

Also, is there an advantage on doing it over the phone or online? And what is the best "route" to take on asking for the increase and not getting denied?


I've only ever done it online. And I don't think there is an exact science to it. Just remember, whether your offer is accepted or denied, with most companies you can't ask again for 6 months. My credit has never been hurt from asking for an increase. Just my opinion, but don't be scared to ask. The worst they can say is no try again in 6 months.


I think I've requested an increase at least 8 times with my Amex card over the 5 years I have had it. Some denied. Some approved. You can't get to 25K CL without asking!
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 1:13 am

Thats what I've read on other sites (theres supposed to be a tools and services button" but mine only has "services", and theres nothing under it showing credit line increase.

cashback
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Postby cashback » Sun Nov 04, 2012 1:39 am

paparoach429 wrote:Thats what I've read on other sites (theres supposed to be a tools and services button" but mine only has "services", and theres nothing under it showing credit line increase.


Well that's strange... guess you have to give em a call then...
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

circle_k
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Postby circle_k » Sun Nov 04, 2012 1:41 am

I would ask for more than I wanted. If you want 3K ask for at least 5K. The best answer for why you want more credit is because you want to make your utilization look better.


paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 11:18 am

So I found the link online. It wasnt under the normal Citibank.com that I normally use, I think it was under Citicards.com.. Anyways, I requested it to be increased to $4k and it automatically got denied. I called and she said shes going to forward it to the department that handles that and to call back in a half an hour. At this point what are my chances of getting SOMETHING!? I dont want to have wasted the hard pull for nothing.

cashback
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Postby cashback » Sun Nov 04, 2012 2:14 pm

It's not a hard pull. Just call em back and see if they can give you something.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

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bisbicos
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Postby bisbicos » Sun Nov 04, 2012 3:53 pm

Just make sure you use the card alot so they have a reason to increase your limits. I got my forward card in 2010 and sonce then I have gotten 2 CLI. I started with 3500 and now its at 11,900. Both of them were not hard pulls.
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink



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