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Ways To Increase Your Credit Limit 

There are several reasons an individual wants to increase his/her credit limits, but one of the major reasons is for credit score purposes. The very first law to increase credit limit is that you should keep your credit line as lower as you can, which will urge the credit card issuers to increase your credit limit, however, there are several different way to increase you credit limit, especially, if you cannot want for the automatic increase from bank.

Here I will try to explain things that how can you increase your credit limit.

Most of the time people want to increase their credit limit is for their FICO credit score. The credit cards an individual use plays a major role in good or bad credit score. The increase in the credit card credit limit allows an individual to reduce the utilization of the credit limit, which directly affect that individuals credit score. (Increase of the credit score)

However the important thing is that an individual must not increase the number of accounts to achieve the higher credit score, because applications for a new account always end up in hard inquiries, damaging your credit score.

The importance of this tactic has increased since the recent credit card bill has passed. A lot of credit card issuers/banks have changed their credit card policies, such as Citibank has recently introduced an annual fee for the credit card holders, who spent less than certain amount that led to many cancellations of their credit cards as well.

The first thing to achieve an increased credit limit it is important that you should be patient. The credit card issuers need at least six months of you spending and payment data, to consider a raise in your credit limit, which means you have to be patient for six months, not only that you have to be very careful in your spending and payments as well, if you want to increase credit limit.

Follow each and every terms and conditions of the credit card, which is good to follow anyway, but especially when you want an increase in your credit limit.

If you want to increase credit limit then you have to use that credit card frequently, but responsible. Let's take a look into the issue openly and put yourself in those credit card companies shoes for a moment, why they want to increase you credit limit if you hardly use their credit card, or you use their credit card only in emergencies. You doesn't need the increased credit in the first place, so why they wanted to give you some more credit.

The first step in how to increase credit limit would be you ask the issuers online. A number of credit card issuers, such as Citibank have an automated online system for credit limit increase. This is a quick and easy way to get an increase on your credit card without any inquiry, however, if the issuer asks for more details and information about your employment and salary that is the best time to quit, because you do not want yourself to be surrounded by hard inquiries.

If the credit card issuer do not have an online system to peruse a raise in the credit limit call and ask for the procedure for credit limit increase and then follow the instructions. However never forget to ask the Customer Service Representative 'CSR', if a credit check is required and if the answer is yes, then drop the idea of perusing the credit limit increase because the issuers will put a hard inquiry on your credit report.

One your credit limit is increased don't push the issuers for another increase soon, wait at least for six months this will ease things for you, however you need to remember one thing, if you want another increase in your credit limit after six months or so, you need to follow the rules and regulations of the credit card issues strictly.

 
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