What's the best method to get cl increases from them. I have had 4 secured accounts for a year now. And i have only gotten one of them to give me a cl increase. the rest say you have to increase your deposit. should i pay them all done to 0 and let them sit. they are 150, 300, 500. limits which is really SAD. but even with my perfect paying history for a year, they wont do it. companies will give you a 10,000 limit based on your experiences from other lenders, but having a 1 year realtionship with perfect paying history gets you crap. since im young and most my cc;s are only one year, i have 7 cards, how many should i keep open now? thanks.
I personally would not do anything. I would not increase my deposit and would not pay a fee for an increase. If you have seven cards, you are well on your way. If you are looking for unsecured, try Capital One and perhaps you can get an unsecured card with them. Too much isn't good and particular too much subprime isn't good...especially with Experian's NexGen scoring system that rates subprime consumers differently than the rest of the population. L
i have 3 secured and 4 regular. i just got approved for a 2,000 cl Gm card. thanks to equifax and not counting disputes into the fico score. however 3 of the regular cards are from house hold bank. so i really have no need for the 3 lowsy secured cards. Im just wondering if 2 years really makes a differnce in getting credit.
If it were me, I'd.... -Only keep 3 or 4 of the cards, the one with the highest credit limits including the card that gave you the credit line increase. For the secured cards you pay-off and close, you'll get back your deposits which you can use to pay down the one's you keep. -With the money rec'd from return of deposits on closed a/c's, pay off highest % int. rate cards kept. -Make new charges only on the cc that gave you the balance increase, paying-off all new charges on it each and every month. This cc company should get the vast majority of your business and with the increased activity and you paying-off every month, will be apt to give you more limit increases in the future.
Closing accounts may not help your score..it might lower it. Keep all the cards for now and see what develops. Eventually, banks will either offer you an unsecured card or raise your credit limit. Not all but some will. Have you thought of waiting to get a bigger credit line with Household on 1 or more cards, then asking for them to be combined? See this thread for more info on combining cards into one: http://a1248.svwh.net/BoardFAQ.htm#BDD It's not quite the same with a non-Citi card, but closing accounts and opening new ones doesn't seem to have a positive effect on credit. Haste makes waste! Robert
