Credit Line Increase With Continual Usage of Credit Card
Guest: eriqnoodle
Post subject: Credit Line Increase With Continual Usage of Credit Card
Posted: Sat Sep 09, 2006 6:07 pm
I've had this card for a couple years now, they never have increased my CL when I hit the button; however, with continual usage of the card, they will increase the CL through their own reviews of the account. Now that MBNA is BOA, it may change because I know with BOA they do allow automatic CL increases much as like Amex does on their site.
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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Sep 09, 2006 7:24 pm
QikPass wrote:
Squeak, that QUANTUM card you have. Is there a minimum credit limit they start you out with on that? I'm thinking of switching my Charles Schwab card to that one if possible and was wondering that means an auto upgrate, etc. And any other differences between Quantum and say Signature/Worldcard other than the name?
WAS $5,000 or $10,000 (I THINK)
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Guest: Bikshu
Posted: Wed Sep 13, 2006 1:18 am
MBNA does not have a Luv Button, it will always present you with the form to fill out. This is because they are a judgemental lending institution (meaning a real human analyst always reviews the request, its not simply a computer quickly reviewing your FICO score). The good news is that with MBNA (this is not true with any other bank that I know of) CLI requests on existing cards are soft pulls... not hard pulls. Now if you have an MBNA account and apply for a new one, that would require a hard pull. But for a simple CLI on an existing account, it is a soft pull. Non-Transparent MBNA accounts should be running on BOA online banking by November so perhaps the Luv Button will become available very shortly.
In the meantime, given proper account usage the credit line hold should be removed from your account after six months at the latest. Once this hold is off you will begin to receive the auto CLI's every few months as long as you keep maintaining a good history/usage. CLI notices will be mentioned in the "Important News" section of your statements and may come on seperate BT offer notices every now and then. Also, if you call in to the BT department, reps will sometimes offer you instant CLI's as well (these CLIs tend to be the most generous auto CLI's the bank offers as well).
Mouse is correct. Quantum carries a minimum line of $10,000. Signature and World cards are both superior to Quantum in terms of benefits and features.
(MBNA hierarchy: Signature/World>Quantum>Platinum>Gold>Classic). Both feature no pre-set spending limits, extended warranties, special Visa/MC benefits, trip cancellation insurance, etc. that Quantum does not carry. My personal recommendation QikPass is stick with Schwab... you guys get preferrential rate and fee structures compared to regular MBNA/BOA accounts. Eventually Schwab will offer a Signature card and/or World card, it is in development now. At that point you can just upgrade your current account and keep the Schwab affinity (again this is definitely in your best interest).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Sep 13, 2006 1:51 am
Bikshu wrote:
MBNA does not have a Luv Button, it will always present you with the form to fill out. This is because they are a judgemental lending institution (meaning a real human analyst always reviews the request, its not simply a computer quickly reviewing your FICO score). The good news is that with MBNA (this is not true with any other bank that I know of) CLI requests on existing cards are soft pulls... not hard pulls. Now if you have an MBNA account and apply for a new one, that would require a hard pull. But for a simple CLI on an existing account, it is a soft pull. Non-Transparent MBNA accounts should be running on BOA online banking by November so perhaps the Luv Button will become available very shortly.
In the meantime, given proper account usage the credit line hold should be removed from your account after six months at the latest. Once this hold is off you will begin to receive the auto CLI's every few months as long as you keep maintaining a good history/usage. CLI notices will be mentioned in the "Important News" section of your statements and may come on seperate BT offer notices every now and then. Also, if you call in to the BT department, reps will sometimes offer you instant CLI's as well (these CLIs tend to be the most generous auto CLI's the bank offers as well).
Mouse is correct. Quantum carries a minimum line of $10,000. Signature and World cards are both superior to Quantum in terms of benefits and features.
(MBNA hierarchy: Signature/World>Quantum>Platinum>Gold>Classic). Both feature no pre-set spending limits, extended warranties, special Visa/MC benefits, trip cancellation insurance, etc. that Quantum does not carry. My personal recommendation QikPass is stick with Schwab... you guys get preferrential rate and fee structures compared to regular MBNA/BOA accounts. Eventually Schwab will offer a Signature card and/or World card, it is in development now. At that point you can just upgrade your current account and keep the Schwab affinity (again this is definitely in your best interest).
SOFT
LIE
(in my case)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Credit Line Increase With Continual Usage of Credit Card
Posted: Sat Sep 09, 2006 6:07 pm
I've had this card for a couple years now, they never have increased my CL when I hit the button; however, with continual usage of the card, they will increase the CL through their own reviews of the account. Now that MBNA is BOA, it may change because I know with BOA they do allow automatic CL increases much as like Amex does on their site.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Sep 09, 2006 7:24 pm
QikPass wrote:
Squeak, that QUANTUM card you have. Is there a minimum credit limit they start you out with on that? I'm thinking of switching my Charles Schwab card to that one if possible and was wondering that means an auto upgrate, etc. And any other differences between Quantum and say Signature/Worldcard other than the name?
WAS $5,000 or $10,000 (I THINK)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Bikshu
Posted: Wed Sep 13, 2006 1:18 am
MBNA does not have a Luv Button, it will always present you with the form to fill out. This is because they are a judgemental lending institution (meaning a real human analyst always reviews the request, its not simply a computer quickly reviewing your FICO score). The good news is that with MBNA (this is not true with any other bank that I know of) CLI requests on existing cards are soft pulls... not hard pulls. Now if you have an MBNA account and apply for a new one, that would require a hard pull. But for a simple CLI on an existing account, it is a soft pull. Non-Transparent MBNA accounts should be running on BOA online banking by November so perhaps the Luv Button will become available very shortly.
In the meantime, given proper account usage the credit line hold should be removed from your account after six months at the latest. Once this hold is off you will begin to receive the auto CLI's every few months as long as you keep maintaining a good history/usage. CLI notices will be mentioned in the "Important News" section of your statements and may come on seperate BT offer notices every now and then. Also, if you call in to the BT department, reps will sometimes offer you instant CLI's as well (these CLIs tend to be the most generous auto CLI's the bank offers as well).
Mouse is correct. Quantum carries a minimum line of $10,000. Signature and World cards are both superior to Quantum in terms of benefits and features.
(MBNA hierarchy: Signature/World>Quantum>Platinum>Gold>Classic). Both feature no pre-set spending limits, extended warranties, special Visa/MC benefits, trip cancellation insurance, etc. that Quantum does not carry. My personal recommendation QikPass is stick with Schwab... you guys get preferrential rate and fee structures compared to regular MBNA/BOA accounts. Eventually Schwab will offer a Signature card and/or World card, it is in development now. At that point you can just upgrade your current account and keep the Schwab affinity (again this is definitely in your best interest).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Sep 13, 2006 1:51 am
Bikshu wrote:
MBNA does not have a Luv Button, it will always present you with the form to fill out. This is because they are a judgemental lending institution (meaning a real human analyst always reviews the request, its not simply a computer quickly reviewing your FICO score). The good news is that with MBNA (this is not true with any other bank that I know of) CLI requests on existing cards are soft pulls... not hard pulls. Now if you have an MBNA account and apply for a new one, that would require a hard pull. But for a simple CLI on an existing account, it is a soft pull. Non-Transparent MBNA accounts should be running on BOA online banking by November so perhaps the Luv Button will become available very shortly.
In the meantime, given proper account usage the credit line hold should be removed from your account after six months at the latest. Once this hold is off you will begin to receive the auto CLI's every few months as long as you keep maintaining a good history/usage. CLI notices will be mentioned in the "Important News" section of your statements and may come on seperate BT offer notices every now and then. Also, if you call in to the BT department, reps will sometimes offer you instant CLI's as well (these CLIs tend to be the most generous auto CLI's the bank offers as well).
Mouse is correct. Quantum carries a minimum line of $10,000. Signature and World cards are both superior to Quantum in terms of benefits and features.
(MBNA hierarchy: Signature/World>Quantum>Platinum>Gold>Classic). Both feature no pre-set spending limits, extended warranties, special Visa/MC benefits, trip cancellation insurance, etc. that Quantum does not carry. My personal recommendation QikPass is stick with Schwab... you guys get preferrential rate and fee structures compared to regular MBNA/BOA accounts. Eventually Schwab will offer a Signature card and/or World card, it is in development now. At that point you can just upgrade your current account and keep the Schwab affinity (again this is definitely in your best interest).
SOFT
LIE
(in my case)
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 2:41 PM
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