geting subprime increases

Discussion in 'Credit Talk' started by making, Jun 28, 2001.

  1. making

    making Well-Known Member

    Figured I'd start a topic.

    Any advice in getting credit line increase for subprime land? Specifically by calling and asking.

    Specific questions:
    -which is better on say a card. charge it to 80% each month and pay off completely each month or charge it 80% and pay twice the minimum payment.

    -will you get flagged if you call the same place say 5 times in one week? My (very limited) experience seems to indicate the primary reason to get approved is a nice agent.

    -what about flagged for calling retention? or just generally strategies for talking to retention. I dont want to say "I am closing the account" because the reward of an increase isnt worth the risk of them doing it.

    Any other thoughts would be appreciated.
  2. creditwork

    creditwork Well-Known Member

    Don't know about subprime, but I have been rewarded time after time for borrowing close to 90% and making large payments and making them on time. I carry a balance as long as interest is in the single digits.
  3. sam

    sam Well-Known Member

    i always paid my cap 1 secured on time, after 14 months it was a gold card, unsecured, $1600 limit.

    I feel this was because of my payment history. Nearly pay in full each month.

    Plus with their 25 day grace period, it doesn't cost you interest like some other subprime card.

    Besides, if you can't make more than a decent payment, you might think to yourself? What got you into this subprime market in the first place?

    Change your habits, cause old habits die hard, and when you screw over the sub prime lenders, you'll be hard up to find anyone to give you a chance..
  4. making

    making Well-Known Member

    sam, what you got is exactly what I am looking to get. Can you be a little more specific about what you mean as far as nearly paid in full each month? Like did you charge $200 and pay of $180 or something? I'd find an example of a few months helpful.

    I dont need credit at all right now; I just want higher limits to get better credit scores ( get rid of annual fees and get rid of security deposit would be nice too) I'm willing to burn some money by not paying in full, but if I'll get the same increases either way, why bother giving them money?
  5. sam

    sam Well-Known Member

    actually my car limit was $500, i charged nearly $1000 a month to it, making 2-3 payments per month.

    believe it or not, capitalone reps do see how many payments you make.

    Citi is the same way, they see on their screen # of payments you've made.

    use the card for everything, and take advantage of cap 1's multiple payment per month plan.

    It will get you use to correct way to use a charge card:

    put all your expenditures on it, and pay it off in full every month.

    good discipline to have!
  6. Laray

    Laray Well-Known Member

    i have been making 1-2 capital one payments per a month and i have stopped using it as much as i did before and they still have me at the same old freaking limit.

    i have had my aria card since mid march and have been making a minimum of two payments per month, except for the month of june where i had made 5 payments (one every friday) i know they do increases every three or four months so hopefully i am in line for one now!
  7. creditwork

    creditwork Well-Known Member

    Capital One is not the best bank for line increases. My vote goes to MBNA. I tend to disagree with the posters that don't want to carry a balance. It has worked extremely well for me. The reason I started CreditWorks with my sister 5 years ago was to allow us and any one else that participated in our program to carry a balance and possibly make some money in the process.

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