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I was issued a credit card a few month ago. But the limit is just $1000. Is there any way to increase the limit soon?
8 Answers
- roderick_youngLv 75 years ago
Yes, it's too early. Get a debit card linked to your bank account, and use that for most of your purchases. The debit card will essentially have no limit, as long as you have a healthy balance in the account. In time, your credit card limit will increase. If you were eager for the limit increase right now because you don't have the bank balance to pay off a potential purchase in cash, then it's kind of good that you can't get an increase right now - that would have gotten you into trouble.
- SPIFIMAN1Lv 75 years ago
Considering it takes 6-months of made as agreed payments for credit cards to effect your credit the possibility of increasing your credit limit in only a few months is very, very slim.
Use your card for everyday things you would normally pay for in cash and pay if off every month in full after you get your statement but before the due date and you will get the maximum good as far as credit score goes.
Your payment history makes up a full 35% of your score and your debt to credit ratio another 30% so by following those two simple rules your score will go up quickly.
Good luck and I hope this helped.
Source(s): Finance Manager for over 14-years (retired), certified credit counselor. - ?Lv 75 years ago
You first have to establish steady payments/on time. Wait about a year. Right now it is too soon. If you were to ask now, you would be declined. telling the Credit CO, you cannot handle your finances.
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- BiffLv 75 years ago
not in only a few months - that takes years and you are getting yourself in trouble if you are maxing out a card already after only a few months
- Anonymous5 years ago
A "few months" is way too soon. Wait a year.