Wednesday, October 28th, 2009

When is a good time to ask my credit union to raise my credit limit?

raise your credit limit
Mikey asked:


I got my first credit card in December, and spent $350 and paid it off in full in January. Spent $400 in January and paid it off in full in February. I know raising your credit limit slightly helps raise your credit score. So when is a good time to ask?

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This entry was posted on Wednesday, October 28th, 2009 at 12:00 am and is filed under Credit Limits. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “When is a good time to ask my credit union to raise my credit limit?”

robert w Says:
October 29th, 2009 at 12:03 am

never.
visit dave ramsey.com to learn b4 u find credit snakes in ur bed.
get book ‘credit cards for dummies’
‘personal fiances for dummies’ read them
‘total money make over’

Jeremy Kitching Says:
October 30th, 2009 at 9:06 am

If you are going to continue to use debt, and want to raise your credit limit, I would wait at least 6 months before applying or asking for a credit limit raise. Also, you will want to make sure that your balance is not close to the limit (i.e. having a $450 balance on a $500 credit card). Try to keep the balance under 25% of the available credit.

Michele W Says:
November 1st, 2009 at 2:07 pm

about 6 months

Monica A Says:
November 1st, 2009 at 6:09 pm

You need atleast six month of on time payments but after one year would be ideal. You should check your credit report and FICO score before asking them to increase your limit.

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