I’ve had my Platinum card for 5 months. In that time I’ve only received one increase for $100, from $300 to $400, that was about 4 weeks ago. The previous 4 months I let a very small balance post or none at all. This month I used about 90% of my limit and let it post and paid it off alter day after the statement posted. Am I good to request another increase or should I wait several months showing high usage? Thanks in advance.
Credit Line Increase Timing
byu/_SIRBAUDELAIRE inCreditCards
Posted by _SIRBAUDELAIRE
1 Comment
1. Did you get a “hard inquiry” on one or more of your credit reports when you last requested a credit limit increase? You can check this by downloading each report on http://www.annualcreditreport.com -or- making free accounts with each credit bureau (https://www.identitytheft.gov/CreditBureauContacts). If yes, wait one year from the previous credit limit increase attempt to avoid stacking up inquiries. If no, it doesn’t matter when or how often you ask as far as I know.
2. A credit limit doesn’t “build credit.” Instead it’s age of accounts that builds credit
Does all that make any sense?