Credit Line Increase Tips

Author: sally
Posted: Mon Jul 05, 2004 7:58 am
Post subject: Credit Line Increase Tips
4/19/2002 6:21 pm CDT

Mr Mason,

I believe you stated in a previous post that you are or were a credit analyst for MBNA. My question is regarding credit line increases. I have a new MBNA card. What is the best way to get my credit line increased? Would it be to pay off my balances monthly or carry a small balance but pay about 75-80 percent of the mininum. Is it necessary to carry a huge balance and pay it off slowly to get a credit line increase. What criteria does MBNA look for when increasing you credit line. Any input would be appreciated.

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Author: Ed Mason
Posted: Mon Jul 05, 2004 7:58 am
Post subject: Credit Line Increase Tips

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4/19/2002 9:47 pm CDT

Sally,
MBNA is very agressive in regards to Line Increases,
Most of the time, if your Credit with MBNA and all of your other creditor remains in good standing, you will recieve periodic increases... A couple of suggestions

1. Wait at least 6 months before asking for a Line Increase
2. Do Not make just Minimum Payments..
3. No delinquency on any of your accounts
4. DO not open a lot of new revolving accounts
5. Keep Your Revolving usage under 60 % of your limits
6. Keep your Debt / Income under 30%
There are just a couple of suggestions.. Hope this helps..

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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