Credit line increase on credit cards

3 Replies

Obviously you shouldn't lie ;). That being said when requesting a credit line increase for a credit card and they ask for your annual income obviously the more the better, but what about monthly rent or mortgage is it better to give a lower number for that category? Also when they ask how much do you spend monthly with credit cards, is it better to report spending more or less? In other words what information would one need to provide on these specific topics in order to maximize the credit line increase?

I've done this a couple of times.  When it come to reporting my monthly housing payment, I am honest.  With the spending, I am not sure how much it would help you reporting a lower number.  It actually may help if you report high levels of spending.  The CC company wants you to swipe that card!  

The biggest thing they will look at is your income and current debt liability (mortgage payment, car payment, other CC payments, etc.).  High income, low debt liability, with higher spend reporting would likely yield a good credit line increase.

Seems like this is a fairly high risk, low reward question. If we are running sound personal financial positions, we should probably not rely on credit to run business or personal finances. 

On the other hand, it's great to have as much credit as possible, to expand our options. It's the ability to access it when opportunity presents itself that counts. To that end, it seems to me that slow and steady wins the race.

I just focus on increasing my income and reducing your expenses, while making regular payments. I then regularly request increases every 6 months or so. A year or two into doing this and I have access to tens of thousands in credit. I think that cheating the game to get a mall short-term boost is really not worthwhile, in my opinion. 

I think the amout of spending you put on a card can often lead to high limits. I run alot of business expenses through a credit card, so like $30 or $40k a year in spending on the card...and that card has the highest limit of any of my cards at $85k.

Russell Brazil, Real Estate Agent in Maryland (#648402), Virginia (#0225219736), District of Columbia (#SP98375353), and Massachusetts (#9​0​5​2​3​4​6)
(301) 893-4635

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