Yay, free credit limit increase…
February 1, 2007 – 5:29 amIf you're new here, I suggest you subscribe to my RSS feed. or bookmark this blog. You'll be able to easily keep up to date with new posts. Thanks for visiting!
I was on Citi’s website checking my purchases and whatnot when I decided to hit the “credit limit increase request” button. Instead of the usual, fill in your information and then we’ll do a hard pull on your credit report and think about it, I got a statement reading:
“We love you so much and would like to give you a credit limit increase because you pay all your statements in full and never pay just a cent in interest so the only way we’ll make money is with the transaction fees we charge to merchants. We also won’t do a hard pull on your credit report.”
Okay, maybe it didn’t say that word for word on the page. I got a free (free as in no hard pull) bump up to $5,000 from $4,000. Interesting how this was my first credit card and in less than a year of having it, it has been bumping up steadily from $800 to $5,000.
Also, to add, that weasly Chase Cash Plus that gave me a $200 limit bumped me up to $700, which is still, well, pathetic.
4 Responses to “Yay, free credit limit increase…”
More credit = more finance charges and compounding interest. I just paid all of my consumer debt and hope to remain that way.
By ExecutiveOpinion on Feb 3, 2007
Not for me.
More credit = less utilization %, better fico
I’ve disciplined myself to not buy needless consumer items. I pay off my cards in full each month.
By HeJustLaughs on Feb 3, 2007
Do you even use anything close to the credit limit?
By Mitchiko on Feb 4, 2007
Sometimes, generally when I have to pay tuition or pay for textbooks. When I use to have $1,000 limit I would get close every month, and my credit score would suck because of the high utilization. Now that it’s $5,000 my utilization percentage has dropped and my credit score is a lot higher.
By HeJustLaughs on Feb 5, 2007