Credit limit increase

[redsky009]

I'm applying for a credit limit increase on my new credit card as they only gave me half of what i need to get my new pc bleh

I gotta send in bank statements and proof of savings to them on monday along with a letter explaining why I need more - anyone have any advice on what to put in the letter, should I just say that I need a higher limit to get the pc and I have enough savings to cover the payments? or is there a way of putting it to make it more likely to succeed?

And if they say yes do you think that it will apply immediately or will I have to wait till the next billing cycle (its a Mint card)?

Any advice??

[ACiD303]

Ive heard varying advice with how to approach increasing your credit card limits (although the best one being: dont, unless you really have to), though the best one was when my mate wanted to go to Japan, and he outrightly just said that and got it.

If your history with Mint is good, then they will probably be more likely to increase your limit - afterall, they'd rather have your money than you give it to some other credit company. If you missed a few payments on a regular basis then that will kinda scream to them they might not get any of it back. I think your relationship with Mint, and your period of custom, will probably be more important than why you want the increased limit - I think that is just so people should'nt say "oh yeah, I wanna go to Japan and it costs ****loads."

Ive had my credit card limits increased about 3 times in the past 12 months (balance transfers, not more expenditure), and each time has pretty much been effective as soon as I was notified. Thats with Barclaycard, though Im sure everyone else does the same - they can't wait for you to spend more, so why delay.

[redsky009]

Thanks, I'll give it a try

Problem being its a new card so they don't really know me as a customer but I have another card which I have paid in full on time every month which is on my credit report. This one just has 0% on purchases for 9 months so I can pay it off interest free (I wont say that to them)

Not too worried about the increased limit as I have enough in savings to cover it should things go wrong but if I take the money out I lose my good interest rate so thats why I got the 0% credit card deal... anyway, will give it a go and see what happens.