When I first opened my card in 8/01, several reps told me at the 4 month mark I would be eligible for an increase. SO I did the auto option on the phone, got a letter denying it *no inquiry* and called three reps to ask why. Same reason: account must be open six months for increase. Is anyone else having this problem? Having a $200 retail line bites. I would like $500.
Author I think Target is tightening its belt with the limits and the credit increases and they insist that you must wait 6 months. you are not alone. Cypri
That totally bites. A $200 card is a crock. If I don't get a decent increase in a few months, I'm gonna close it. Why should I have another open card with such a pathetic limit? I have enough cards to do my twice a month shopping at Target without their sad ways.
Here's more... I waited until exactly 1 day after the 6-month mark and did an auto request. Denied. Days later the explanation letter came saying "you haven't had a sufficient number of paid statement periods." No inquiry was made on the CRs. I called and was told I had to USE the card every month within that 5 month period to get the auto increase at the 6-month mark. I feel blind-sided!
Not only do you have to wait 6 months for an increase but they should have also told you that is has to be 6 months of **payments**. So for example if you opened your card on 6/1 but you didn't use it till 7/1. Your 1st payment was probably due on 8/1. So you make a payment on 8/1, 9/1, 10/1, 11/1, 12/1, 1/1. You would not be able to get a credit line increase until after the 1/1 payment and if I am not mistaken that 1/1 statement would have to have closed. In other words not only did you make the 6th payment, and it posted but they also want that statement cycle closed. I just went through this with Target. I opened my acct on 5/28. And they always told me that I could get an increase after 6 months. So on 12/1, I called and they said I didn't have enough payments to get an increase. I didn't have to make a payment until July and I didn't make a pymt in Oct because I had a zero balance. I threatened to cancel and actually did cancel (for a whole hour time span) but they wouldn't budge. I really like Target and with their stupid return policy, I like having all of my purchases on the card so that if I do lose a receipt, they can just look it up. So I called back up and reopened it And by the way don't get too happy after you make those 6 payments, they told me the increases are mostly $100 and even occasionally $200. But anything bigger then that they have to pull a hard inquiry on your credit report.
So basically they are trying to force you to use their card to get an increase. Sounds like they are trying to raise the bar everytime you come close. Good info! Cypri
Actually guys, I got quite a surprise with this card. I had originally requested an increase at the 3 month mark (I had heard that from a Rep I believe) and was instantly denied. I asked another Rep, and she told me I needed 6 months of credit history. I make all my payments on time, online, and well in excess of my minimum, not to mention that I do use my card. Well, I got a pleasant surprise on my last statement (December 4th) and found that my $200 CL was raised to $500! My point: Have patience, and a little bit of persistance, and it can happen. I'm pretty satisfied with my current CL now, and can imagine that if I continue this way, I may see another $100 to $200 CL in 2002. Best, A. J. "I don't have a snazzy saying, but at least I'm in quotes!"
Hmm, I've had my Target card for 3 billings cycles (or at least 3 payment cycles) and when I got my 4th bill, I noticed the credit limit was increased to $500 from $200, without my requesting it. I"m not complaining, but was quite pleased.
Same thing for me. Got my card and used it Memorial Day weekend and on the 4th billing cycle the limit was raised from $200-$500.
IrishDiva and MP$40, did you two pay your balances in full for each of those cycles, if you don't mind my asking? That's what I'm doing now (not that difficult with a $200-limit card), but I've read that some companies frown upon this, at least when it comes to issuing increases, for some reason.
No wonder, I can't get a credit line increase. I pay my balance in full each month. There is no way I am going to pay 19% interest.
Yeah...I understand where you're coming from but sometimes you have to make sacrifices when re/building credit. Once I get my limit to where I want it to be, I'll start using the card less and pay in full.
Yeah and understand where your coming from and that is why you have a $500 limit and I still have $200 though I have used the card every month except for one since June. And my payments have always been on time, but paid in full.
