I was denied a credit increase for $500

Peeved at B of AI know, I know… why was I asking for a credit increase?

DH and I have decided to start using our Hawaiian Airlines card exclusively in place of our debit card.

We want to rack up our Airline miles for our trip in April and any future trips we take to Hawaii.

Why we didn’t think of this sooner, I don’t know. Oh ya, probably because we didn’t feel like we were on more solid financial grounds.

Why we were denied: in the past I was making larger monthly payments per our budget schedule. But our budget changed and I started paying the minimum monthly payments.

Bank of America told me I had to be more agressive with my monthly payments!

Um, hello. I have always paid on time, paid the minimum (if not more), my husband who owns a house is on the account, we both have excellent credit scores.

I don’t get it!

I am not as dismayed as i sound to be. I know I am better off without the increase. But the reasons behind the denied credit increase are really lame to me.

Anyone else experience such issues?

10 thoughts on “I was denied a credit increase for $500

    1. admin

      Just a bit over half. Which could of contributed. Who knows. I heard companies are rather picky these days about issuing credit. I guess this proves the case.

      Reply
  1. Sharon

    Suze Orman discussed how this was going to happen. Credit card companies are on the look out for those only paying the minimum. It doesn’t matter what your credit scores are. They feel if you are only paying the minimum, then something is wrong, and they will cut you off. Suze said in most cases, they will even cut your credit line further.

    Reply
    1. admin

      Well, I am glad they haven’t hacked my credit limit. But the interest rates went up on some of the cards. Luckily those cards were PIF’d B4 that. I don’t really need the increase so it all works out. This whole bad economy needs to go away! πŸ˜‰

      Reply
  2. Debt Ninja

    I don’t really get how the CC companies decide if you are worthy of an increase. About a month ago I called B of A, and they bumped me up from $6,500 to $10,000 no problem. I called Chase yesterday to have my other cards limit increased to $10,000 from $2,500, but they only gave me a $500 bump. Apparently BoA likes me more than Chase. Oh well, it’s not like I was actually going to use the credit limit.

    Reply
    1. admin

      I think it depends on what mood they are feeling. LOL. B of A has never really liked me. I don’t know why. Too bad I like there card.

      I know… its not like the credit limit was going to be used. Just would of a personal enjoyment to have a higher increase. Oh Well! πŸ™‚

      Reply
  3. Anne

    I always pay at least $5 over the minimum payment due on my card (usually more than that) so that it always shows as paying more. I’m nto sure how much more you have to pay to make it count but try paying a dollar or two more. It can’t hurt.

    I routinely have to tell my bank to stop giving me credit increases, even after everyone was saying that credit is getting tight and that banks were going to stop increaseing people’s limits.

    Reply
    1. admin

      Hi Ann, Thank U for visiting

      I usually pay more than the minimum (oh ya, I just sent them a $270 payment. Hello B of A?), but we are trying to pay off another card aggressively due to its promotional deadline. Hmmm… I don’t really think I want to try again for a credit limit increase. Fear rejection. lol. plus, I don’t need it. Live & Learn.

      Reply
  4. Debt Ninja

    Cool thing about getting rejected for a credit increase is you then have a right to request a copy of your credit report for free. It is kinda of a cheaters way to get more access to your credit report without having to pay for it πŸ™‚

    Reply
    1. admin

      LOL. Good laugh from that one. thanks for the reminder though cuz I was about to order one. πŸ˜‰

      Reply

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