Providian=2,000 limit=1,900. balance Orchard=300.00 limit=290.00 balance Capital one=1,000 limit=900.00 balance Capital one 1,000 limit= 950.00 balance Capital one K mart 600.00 limit=550.00 balance DMB secured 500.00 limit 350.00 balance Total around 5,400 owed annual income 40,000 No one will give me an increase no other bills
If you want more credit, and you're paying on time, get more cards! citibank, chase, nextcard to name a few..
ALL AT THEIR LIMITS...THATS WHY NOBODY WILL GIVE YOU AN INCREASE. Sugestion...pay off the card with the highest interest rate and see if that helps, if not pay off the next highest. OR GET ALL DOWN TO 50% AND SEE WHAT HAPPENS.
I agree with George. Being maxed out creates the perception of financial distress . Pay those cards down and you will get increases and better offers.
Yeah....it seems pretty bad to me. You're MAXED out on ALL of your cards. You say you make $40k and you have no other bills......why are you at your limits? Stop using your cards and pay them down to at least to 50% if possible. Then someone might want to give you an increase.
Well you ratio is 92% on your total debts, that my friend is high. I think that may be why you are not getting an increases.
I was afraid to say this, but yes, you make a decent salary, and should have plenty of cash after bills/rent to pay a significant chunk of your cards down. If nothing else, think about all the money you are spending on interest per month! If you crunch and pay all your debts as much as possible you'll be debt free and have more cash per month to spend. Then you don't really need to use credit cards unless you have an emergency or are buying a major item (ie car repair, wedding ring)
When I spoke with the AMEX Rep., she stated that you need to be no higher than 40% debt ratio Reshod Momof3 wrote: ------------------------------- Well you ratio is 92% on your total debts, that my friend is high. I think that may be why you are not getting an increases.
Remember to caculate finance charges in or you will be going over your limit with a few small additional charges. Gets a little expensive for over limit fees.
Reshod- Are you talking about the conventional 40% debt to income ratio (total of all monthly payments divided by gross monthly income) or are you talking about 40% utilization ratio (total of all revolving balances divided by total limits/high-credit reported)? Reshod wrote: ------------------------------- When I spoke with the AMEX Rep., she stated that you need to be no higher than 40% debt ratio Reshod Momof3 wrote: ------------------------------- Well you ratio is 92% on your total debts, that my friend is high. I think that may be why you are not getting an increases.
Reshod- Are you talking about the conventional 40% debt to income ratio (total of all monthly payments divided by gross monthly income) or are you talking about 40% utilization ratio (total of all revolving balances divided by total limits/high-credit reported)? I am talking about his utilization ratio of revolving balances at 92% he will have trouble getting creditline increases.
