AT&T Universal Card Increase

Discussion in 'Credit Talk' started by Hedwig, Jul 18, 2003.

  1. Hedwig

    Hedwig New Member

    Just wanted to share some good news, but first I need to give you a little history.

    Quite a few years ago (I don't know how many, I think the Universal cards were new) I received an AT&T Universal card. The credit limit was $2500. It may have started lower and been increased, I don't remember. But the important thing is that it was at $2500 when I was having credit problems. One day I received a letter stating that they had pulled a credit report as a routine review, and because of my report they lowered my limit to $500!

    I was determined that someday I'd get my $2500 back. I got several increases, I think they were automatic but I don't remember for sure. I went to $750, then $1000, then $1250. And there it sat for a long time.

    Finally, it got increased to $1800 and I could be increased to $3300 if I did a balance transfer. 3.9% for the life of the transfer. I made the transfer. I was past my original amount. It felt good, but gets better as it goes on.

    Then, a few months later, I got a notice that I could have a credit line increase to $5300 if I transferred a balance. Same deal, so I did it.

    In accordance with my procedure of paying highest interest first, I have been paying only minimum payments. I did set up autopay, which means they take the minimum payment out of my account on the due date each month, so I can never be late.

    Yesterday I got an e-mail that my credit limit had been increased. I logged on to the web site, and--drum roll, please--my new limit is $9,600!!!! As I said, I've only been paying minimum payments, and of course not charging anything. Maybe that's part of it. They've been sending me all kinds of offers to buy things. A lot of them are like the "it's free, just pay $3.95 for shipping and handling" kind of deals. The problem is that your payment is applied to lowest interest rate first, so if I did that, the $3.95 would keep accruing interest at my normal rate of 10.15% until my $4300 balance is paid off, which will be in about 4 years if I keep paying the minimum! That would be an expensive "free" item, wouldn't it?

    Anyway, I don't know when I've had an increase that large, and it feels wonderful. I didn't even ask for it. Now I'm more than three (almost 4) times my original limit!
  2. marci

    marci New Member

  3. wlewisj

    wlewisj New Member

    Universal has been good to me. My story is like yours - I got the card when I was trying to re-establish my credit in 1995 after paying 2 chargeoffs. My limit was only $500 @ over 21%. I paid on time and over the years my limit was growing. Also, then a friend told me that you could call and ask for lower rates (remember this was 1996-97). Long story short- my limit is over 10K and my apr if P+1.9. So, I have nothing but good things to say about them.

    Also, I got the same 3.9 for life offer and all I do is pay $100 a month - min-payment is $75. I do not use the card at all yet they continue to bump my limit. They pull AR's monthly so I guess they want to make sure that your total debt is shrinking before they give any limit increases.

    Again, congrats.
  4. Hedwig

    Hedwig New Member

    I've been working so many long hours that I haven't been checking my report very often, but I suspect they would pull every month. Not necessarily to see if your credit is shrinking as much as to make sure you're not defaulting on anything, so they can change the rate to the penalty rate. No way am I going to let that happen!!

    I wish they'd give some more 3.9% for life of transfer offers. I sure would like to take out my increase at that rate and pay it on something else.

    Thanks for the congrats, everyone!
  5. Hedwig

    Hedwig New Member


    If you have any other debt, you should only pay the bare minimum on this. Put the other $25 or whatever (the minimum should go down as the balance does) on a higher rate card. You'll get things paid off faster in the end. It's the same as transferring that $25 to the 3.9%--you pay the $25 on the other account and keep it on the 3.9%.

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