I Got a Home Depot Credit Card Limit Increase, but Not on Household Bank
Author: usmsci
Posted: Tue Jul 11, 2006 9:27 am
Post subject: CLI on Home Depot card after 6 months...Household bank nada
ive had my home depot card now for 6 months, actually 7 but 6 billing statements... CLI from $1,000 to $1,200. I was hoping for more than a measley $200. has anyone got a CLI from them and how much? i read the HD thread but dont remember if anyone talked about this.. ill go back and read it.
Anyway Household Bank, i have 2 cards that i have had for over a year now. at 8 months i got a CLI from $300 to $500 and one from $500 to $700. i am still waiting for a CLI but i am left sitting here twiddling my thumbs. It seems Home Depot(aka citibank) might be better and giving out CLI's but i dont know. I also have a best buy card(aka HSBC) with a CL of $2,000 that i got over 6 months ago and nothing out of them yet either even though they say they review every 6 months. maybe household bank is junk.. i dunno. Is HSBC same as Household ?
any ideas?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Tue Jul 11, 2006 10:20 am
Post subject:
Re CLI -- The question is, what has happened over the last 6 mo. the would give you cause to expect at CLI. I'm not being cynical ... but you don't detail what charge/repayment history you've incurred on the cards during this time.
If you had no charge activity, or just nominal, I wouldn't expect that they'd leap to give you a large increase. It's unlikely that there's been a huge change in your credit picture overall -- more to the point, you haven't demonstrated either that you'll handle the card responsibly once you do place a sizable charge on it, nor have you demonstrated a need for a CLI.
If you have charged a significant amount on these accounts and been making substantial payments (say at least 2x the minimum), then there's good room that they should consider a CLI. However, each creditor has their own practices.
I can tell you I was assigned a $4000 CL w/ HD a year ago last spring. I charged $700 on it shortly thereafter and repaid it over the course of 10 mo (prior to the end of the 12 promo 0% period). I haven't seen an increase on the card. I don't know if I requested one if it would be granted.
I'll say in general, if your current balance is at over 50% of the card limit, this will disincline them from an increase. They'd prefer to see a signficiant balance reduction before any CLI.
I don't have recent experience with Household/HSBC to comment on. Yes, they are part of the same financial family. HSBC (formerly Household Retail Services) specializes in providing credit services for merchants.
In general, while there's no guarantee, the best means to a CLI is to actively use the account and make sizable payments on it. It's likely that charging the account up to 30%-40% of the limit and then aggressively paying it down (preferably not in one installment) is one of the strongest avenues to a CLI.
btw, is there a particular reason that you're anxious for CLI's at this time?
Author: usmsci
Posted: Tue Jul 11, 2006 11:03 am
Post subject: I Got a Home Depot Credit Card Limit Increase, but Not on Household Bank
[quote="hdporter"]Re CLI -- The question is, what has happened over the last 6 mo. the would give you cause to expect at CLI. I'm not being cynical ... but you don't detail what charge/repayment history you've incurred on the cards during this time.
If you had no charge activity, or just nominal, I wouldn't expect that they'd leap to give you a large increase. It's unlikely that there's been a huge change in your credit picture overall -- more to the point, you haven't demonstrated either that you'll handle the card responsibly once you do place a sizable charge on it, nor have you demonstrated a need for a CLI.
If you have charged a significant amount on these accounts and been making substantial payments (say at least 2x the minimum), then there's good room that they should consider a CLI. However, each creditor has their own practices.
I can tell you I was assigned a $4000 CL w/ HD a year ago last spring. I charged $700 on it shortly thereafter and repaid it over the course of 10 mo (prior to the end of the 12 promo 0% period). I haven't seen an increase on the card. I don't know if I requested one if it would be granted.
I'll say in general, if your current balance is at over 50% of the card limit, this will disincline them from an increase. They'd prefer to see a signficiant balance reduction before any CLI.
I don't have recent experience with Household/HSBC to comment on. Yes, they are part of the same financial family. HSBC (formerly Household Retail Services) specializes in providing credit services for merchants.
In general, while there's no guarantee, the best means to a CLI is to actively use the account and make sizable payments on it. It's likely that charging the account up to 30%-40% of the limit and then aggressively paying it down (preferably not in one installment) is one of the strongest avenues to a CLI.
btw, is there a particular reason that you're anxious for CLI's at this time?
- Harry[/quote]
well i have had a high credit at one point on both of those cards.. $382 is my high credit on the $500 card and i actually went over my limit on the other card with a $709 high credit on that. Both balances are now $0 when i paid them off in full. this was 3 months ago or so and havent really charged anything to them since.
The Best Buy card(financed by HSBC) like i said is a $2,000 limit and my high credit on it is about $982 with a balance left of about $300. since most of this balance was a big purchase i am paying no interest for 18 months and still have until may of 2007 to pay it off without incurring past due interest.
My home depot card i rarely used but for nick nacks here and there..with until recently only a minimal balance with the $1000 CL. only until recently did i make a HUGE purchase for about $600 to do some landscaping and that was last month but now i have that balance down to $290 after paying half of the balance off. Due to their 12 months no interest on $299 purchases and up i am sitting with that also no interest. its likely that home depot had already gave me the CLI before that big purchase though b/c i think it takes a month for it to show on your account after they approve you. regardless i have had a higher percentage/CL ratio on the HSBC cards and no CLI from them.
My credit scores have gone up in the past year and i havent been 30 days or more late on anything for 46 or 47 months now. Oh yeah a few months ago i was even late on my home depot card because i forgot to make an online payment and was 2 days late. i payed the late fee yet they still give me a CLI. just seems householdbank seems relunctant.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Jul 11, 2006 9:27 am
Post subject: CLI on Home Depot card after 6 months...Household bank nada
ive had my home depot card now for 6 months, actually 7 but 6 billing statements... CLI from $1,000 to $1,200. I was hoping for more than a measley $200. has anyone got a CLI from them and how much? i read the HD thread but dont remember if anyone talked about this.. ill go back and read it.
Anyway Household Bank, i have 2 cards that i have had for over a year now. at 8 months i got a CLI from $300 to $500 and one from $500 to $700. i am still waiting for a CLI but i am left sitting here twiddling my thumbs. It seems Home Depot(aka citibank) might be better and giving out CLI's but i dont know. I also have a best buy card(aka HSBC) with a CL of $2,000 that i got over 6 months ago and nothing out of them yet either even though they say they review every 6 months. maybe household bank is junk.. i dunno. Is HSBC same as Household ?
any ideas?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Tue Jul 11, 2006 10:20 am
Post subject:
Re CLI -- The question is, what has happened over the last 6 mo. the would give you cause to expect at CLI. I'm not being cynical ... but you don't detail what charge/repayment history you've incurred on the cards during this time.
If you had no charge activity, or just nominal, I wouldn't expect that they'd leap to give you a large increase. It's unlikely that there's been a huge change in your credit picture overall -- more to the point, you haven't demonstrated either that you'll handle the card responsibly once you do place a sizable charge on it, nor have you demonstrated a need for a CLI.
If you have charged a significant amount on these accounts and been making substantial payments (say at least 2x the minimum), then there's good room that they should consider a CLI. However, each creditor has their own practices.
I can tell you I was assigned a $4000 CL w/ HD a year ago last spring. I charged $700 on it shortly thereafter and repaid it over the course of 10 mo (prior to the end of the 12 promo 0% period). I haven't seen an increase on the card. I don't know if I requested one if it would be granted.
I'll say in general, if your current balance is at over 50% of the card limit, this will disincline them from an increase. They'd prefer to see a signficiant balance reduction before any CLI.
I don't have recent experience with Household/HSBC to comment on. Yes, they are part of the same financial family. HSBC (formerly Household Retail Services) specializes in providing credit services for merchants.
In general, while there's no guarantee, the best means to a CLI is to actively use the account and make sizable payments on it. It's likely that charging the account up to 30%-40% of the limit and then aggressively paying it down (preferably not in one installment) is one of the strongest avenues to a CLI.
btw, is there a particular reason that you're anxious for CLI's at this time?
Author: usmsci
Posted: Tue Jul 11, 2006 11:03 am
Post subject: I Got a Home Depot Credit Card Limit Increase, but Not on Household Bank
[quote="hdporter"]Re CLI -- The question is, what has happened over the last 6 mo. the would give you cause to expect at CLI. I'm not being cynical ... but you don't detail what charge/repayment history you've incurred on the cards during this time.
If you had no charge activity, or just nominal, I wouldn't expect that they'd leap to give you a large increase. It's unlikely that there's been a huge change in your credit picture overall -- more to the point, you haven't demonstrated either that you'll handle the card responsibly once you do place a sizable charge on it, nor have you demonstrated a need for a CLI.
If you have charged a significant amount on these accounts and been making substantial payments (say at least 2x the minimum), then there's good room that they should consider a CLI. However, each creditor has their own practices.
I can tell you I was assigned a $4000 CL w/ HD a year ago last spring. I charged $700 on it shortly thereafter and repaid it over the course of 10 mo (prior to the end of the 12 promo 0% period). I haven't seen an increase on the card. I don't know if I requested one if it would be granted.
I'll say in general, if your current balance is at over 50% of the card limit, this will disincline them from an increase. They'd prefer to see a signficiant balance reduction before any CLI.
I don't have recent experience with Household/HSBC to comment on. Yes, they are part of the same financial family. HSBC (formerly Household Retail Services) specializes in providing credit services for merchants.
In general, while there's no guarantee, the best means to a CLI is to actively use the account and make sizable payments on it. It's likely that charging the account up to 30%-40% of the limit and then aggressively paying it down (preferably not in one installment) is one of the strongest avenues to a CLI.
btw, is there a particular reason that you're anxious for CLI's at this time?
- Harry[/quote]
well i have had a high credit at one point on both of those cards.. $382 is my high credit on the $500 card and i actually went over my limit on the other card with a $709 high credit on that. Both balances are now $0 when i paid them off in full. this was 3 months ago or so and havent really charged anything to them since.
The Best Buy card(financed by HSBC) like i said is a $2,000 limit and my high credit on it is about $982 with a balance left of about $300. since most of this balance was a big purchase i am paying no interest for 18 months and still have until may of 2007 to pay it off without incurring past due interest.
My home depot card i rarely used but for nick nacks here and there..with until recently only a minimal balance with the $1000 CL. only until recently did i make a HUGE purchase for about $600 to do some landscaping and that was last month but now i have that balance down to $290 after paying half of the balance off. Due to their 12 months no interest on $299 purchases and up i am sitting with that also no interest. its likely that home depot had already gave me the CLI before that big purchase though b/c i think it takes a month for it to show on your account after they approve you. regardless i have had a higher percentage/CL ratio on the HSBC cards and no CLI from them.
My credit scores have gone up in the past year and i havent been 30 days or more late on anything for 46 or 47 months now. Oh yeah a few months ago i was even late on my home depot card because i forgot to make an online payment and was 2 days late. i payed the late fee yet they still give me a CLI. just seems householdbank seems relunctant.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:05 PM
0 Comments:
Post a Comment
<< Home