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Question By
SonnyHoney54

48 Contributions
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How can I get an increase in my credit limit?
I have one major credit card for 8 months. Limit $8000.00 (US Bank) I spend between $2000.00 - $4000.00 / month. I have paid the card off each month. My utilization rate average between 25 - 40% because of the way charges, payments and reporting dates overlap each other. My question is, should I wait for the Bank to increase my credit limit (to help with my reported utilization rate) or just call then up for an increase? I am looking to avoid an inquiry on my report. Anyone have any insight on how increases are giving out. Your advice would be welcome.

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Top Contributor
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If you ask for a CLI more likely they will do a Hard Inquire,   If you wait they might do the CLI without.   If you have had it for 8 months you might be  in line for a Automatic CLI.

If it were me I would go for another CC from soneone else,  Chase or Citi etc,  ( have you had any offers from them )  then you get the CC,  the Line of Credit to help with the income to debt ratio and over all utilization.

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