Yes I am the one with the high balance on the card. I've been paying it down, haven't transferred the balance yet. I put two payments a month at $85 on the card for a total of $170/month. my card is definitely being paid down.
Over all credit.. The GM card alone is 10yrs 3 mos. Average age is 7 yrs 5 mos. Total utilization is down to 49% from 52%. My GM card alone is at 93% utilization. Yeah I know not good. I have nothing bad on my report. 100% ontime payments. Of course I'm getting all my info from Credit Karma.
If they ask for finanical I have no problem providing them with that. Again I opend the card back in 2002, 10 yrs later I'm making significantly more money now.
I definitely DO NOT need the increase, with my utilization at 93% and over all 49%, the point of the CLI increase is to lower both of my utilizations down and to help boost my credit score a bit. Currently at 700 (accordign to Credit Karma).
Can you explain this more to me, for some reason I'm not following you..
The other way to go about a CLI is by calling and inquiring about balance transfers. Let them talk them up and go on. Then when they have finished their schpeal, you would say that you are interested but your current credit line would not allow for the balance transfer. Many times, banks hear this and offer a CLI for the balance transfer.
Maybe I will wait like you stated then. They sure as shiit will not lower my APR. Currently at 12.49%. Used to be at 6% before the economy tanked.