Every 4-5 months I call to get the automatic increase in there automated system, so like clock work I tried again and just got a denial in the mail. 3 reasons for the decline. 1. Your acct lacks sufficient pymt history 2. Your acct is too new 3. A BK filing has been reported to the credit bureau. Let me give you some background. This acct has been open since 1/1996, used monthly, and for the past two years we have been paying at least 500.00 a month on it, sometimes a lot more. We use it a lot obviously, kids clothes, house stuff, everything really. (Its our favorite store) Our credit line is only 1600.00, but we always pay so much on it each month so its not like we are ever max'd on it. Our BK-7 is almost 3 yrs old, we didn't include this card, we had a 0.00 balance on it until the BK was discharged...then we started using it again. We have gotten creit line increases since then, many times thru the automated phone, what is going on? I thought they were BK friendly anyway. Have they tightened their ropes? Jamee
Interesting....I did the automated thing one time and got a $100 increase. Then I called the same day and got another $100. Then waited the 91 days and did the automated and got the same letter as you. I called to see why and they said that the average payments I was making in relation to my LIMIT didn't warrant an increase. Meaning...if you want your limit to eventually be $1000, you have to be making over the minimum payment for IF your balance was $1000. Say the minimum on $1k is $50, you'd have to be making over $50/mo payments for them to give you an increase. So I guess that increases are done according to how much you pay per month. But in your case you say you make $500/mo payments. So I don't get it either.
I just called them a few minutes ago, because they also said my acct is too new which it was opened in 1996, the girl there said the reasoning she sees in the computer for my decline is because negative credit bureau. I have the BK from 3yrs ago. That just doesnt make sense because I have gotten increases since the Bk with no problem. We are just charging a lot on it right now because our house is almost done being built and we are buying new stuff for it. Its just crazy because I thought they were BK friendly anyway. Maddening. Jamee
I got the automated increase for $100 1x in January....then the same letter as you in April...I think they are just getting tighter...my visa I just got...$700 limit where others when they first came out were getting 5k, and 10k limits...my score was 700 on equ w/ no derogs and I pay my guestcard in full every month..so again..I think they are just shortening the purse strings...at least that makes me feel better about the low limit LOL
Also why I think they are tighter...I opened the guest card May 01...in Sept 01...they increased (without me asking) from $200 - $500....
I called a few months ago and tried to get an increase. They denied it. I spoke to the rep. she said they did away with getting an increase every 90 days. She said it's because of the economy. She asked if they could pull an inquiry. I asked is it hard or soft. She said hard, so I said don't bother. I've had my card since 1995 and only started getting increases when I joined this board. My limit is only $400 after almost 7 years. i'm going to try again and see if it goes through.
yes that was another thing, the rep did tell me she could pull an inquiry right then and evaluate it for me, but I said no thanks because they never used to pull inquiries when I went thru the automated before. I may just reopen my Mervyns, its at 1600 too, opened since 1994, but I closed it a couple months ago... you can use that at Target, too. I used to use it there all the time since they closed all Mervyns stores in my area, then I just decided to close it all together.
How about seeing if you can combine both Mervy's and Target into 1 Target card??? I don't see why you wouldn't be able to if you can use the Mervyn's card at Target and vice versa.
Thats what I tried first, they wouldnt do it so thats when I decided to cancel all together. Oh well. Maybe thats just telling me to quit spending so much money at Target, right? Thats what my husband would say anyway...lol Jamee
