2 Rules in Increasing Credit Limit

Insatiability is one of the many things that most people can't get over with

. Just when you think you have enough, something comes up and you are simply not satisfied with what you currently have. This insatiability is applicable in all aspects of human life including credit limit. This is the very reason why many people request for a credit line increase from their credit card issuers.

In order for one to successfully achieve credit line increase, the need to understand the ins and outs of the system is a must. One needs to know the regulations in order to abide by it and succeed in their goal of increasing their credit limit. Read further and understand the rules of credit line increase applicable to all regardless of the company that they are affiliated and are dealing with.

Rule Number 1: Understand the Process

Requesting for a credit line increase is not that easy especially if your credit score is lower than normal. You need to wake up and smell the coffee. You credit card issuer does not exist to help you but rather, to take money from you. The approval of your request for a credit line increase is based on your credit worthiness and your profitability. The reason why people with good credit end up with their credit line increase request denied is due to their unprofitability. Just because your credit is good doesn't mean you are profitable to your credit card issuers.

There are 4 factors which are taken into consideration by credit card issuers. One is outstanding debts. This includes credit cards, overdrafts, loans and the like. Next factor is the available credit. This is the amount that is available for you to borrow whether or not you are borrowing. Third factor is the history of your repayment. This is where missed, late and inability to pay comes in. Last factor is the bank's scoring out system. What they do is score out individuals that they see to be playing with the system.

Rules Number 2: Choose the card that suits you best

This can be a bit challenging considering the number of credit cards available out there and their claims of being better than the other. Dealing with the right credit card issuer and using the right credit card will help you in achieving your goal easily. Bear in mind that, the better the deal that you choose, the lesser your chance of developing huge amount of debt will be.

In trying to request for a credit line increase, it is best to ask your issuer every now and then. A good relationship with your credit card issuer can be of help when it comes to building trust and credit worthiness and eventually approval of your credit line increase.

2 Rules in Increasing Credit Limit

By: Louie Pinto

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