Comments on: How do I convince a credit card company to give me a high limit?

By: Theresa M

Theresa M — Sun, 08 Mar 2009 15:36:21 +0000

Instead of hasseling with finding a credit card with a higher limit, have you thought about applying for a bill consolidation loan? I think that would be your best bet. Good luck.

By: Joe S

Joe S — Sat, 07 Mar 2009 05:13:42 +0000

You have to make 6 months or more of huge payments to show that you have the income to payoff your debt. Pay one card off first and don’t use it. You will receive Zero % balance transfer offers after a few months of inactivity. But they hope you take the zero % offer because most people dont pay off in the allowed time and they generate income through interest charged.

An increase in income also helps.

It is hard to convince them as the decisions are based on your information in the computer system and historical data. You may get lucky with a customer service rep, but they will not put their job on the line for you. You may be too high of risk if you have negatives in your payment history.

If you have $7500 on 5 cards and let them know you want to transfer all of your cards to them, they MAY allow it, but you will have to do it then. Have your cards readily available. And close the accounts as they are paid off.

But paying off debt with more debt is not a good way to eliminate the issue – overspending. Talk with your bank/credit union about a personal loan to pay the cards off. 10 to 12% is cheaper than credit card interest rates. They would be willing to loan you money if you are using the money to pay off the CC’s and may help you do it right then and there. My Credit Union does this for people.

Good luck.

By: snagelfritz

snagelfritz — Wed, 04 Mar 2009 07:02:07 +0000

You can try paying off the best one you have and just pay the minimum on the others until you do.
One I did, was just overcharge the limit, and then keep it paid. They just up my limit to my new self-induced limit, nothing said.

By: gtofinancial.tomvoli

gtofinancial.tomvoli — Tue, 03 Mar 2009 13:02:23 +0000

Credit card companies look at future risk associated with the credit profile and high current balances will affect what you will be offered on new cards. There are ways to improve this rapidly. I wrote a paper on this subject. Go to the link provided for more information on Rapid Rescore of your credit profile.

By: May I help You?

May I help You? — Sat, 28 Feb 2009 18:26:48 +0000

1. Start paying off your most expensive credit card debt first.

2. Pay off all credit cards timely….all credit card companies!

3. Your debt will only go down if you stop using your credit cards.

4. Try to limit the use of credit cards to only what you need….and convince yourself that a year from now you will have many of the credit cards paid off!

5. Look at your buying habits, and why are you buying when perhaps you need to look inside and check out your spending habits that are not working for you!

It’s not the credit card companies that maxed your spending….and when you face that it is YOU, then your debt will go down….another credit card won’t fix your spending….only you can control YOU!.
Good luck!