Is this a way to entice me to take on more debt? Funny how it comes within a month of me closing a $3,600 LOC from Dell and having fully paid of my BoA account, which shall remain open for credit score purposes. I've never paid a cent of interest on my Chase card and I intend to keep it that way.
While researching how this would affect my credit score, it seems it will hit positively, if at all, since I don't carry a balance anymore (go me!). I still would've liked some notice...
Update: Bank of America felt like charging a vindictive last fee, so I had to add $12.44 to my budget. Meh, I don't care. It's the last cent of interest they'll see out of me for a long time, if not ever!
They do this all the time, helps your credit score but so easy to add up debt. My Citi card started with a very low credit line, now its up to 17,000..
ReplyDeleteHS
My credit card company did the same for my limit last year. I noticed it when I logged into my online account. I like having that extra room for large items such as buying furniture or car insurance, and not have to worry about going over the 50% total credit limit which will hurt my credit score :D
ReplyDeletethey love doing this hoping you will be lured into the dark side of debt again. But we all know your smarter than that :)
ReplyDeleteConsidering that the credit card was taken out by Tanner's mother, I think it's pretty clear that Tanner is not the one who went to the dark side.
DeleteDoesn't mean I couldn't go there. It's something I wonder too.
DeleteTanner I wasnt implying that you had incurred the debt I guess I worded it wrong and I apologize. You know I support you in everything you have done. I simply meant as we pay down debt and get rid of other cards for some reason they seem to increase our limits to try and lure us to spend more
DeleteI am sorry if I offended you
Got your message its all good :) You know I think your great
DeleteFirst time this has happened to me... my BoA card has always had a 4k limit, and I've had that card for 8 years. I guess I'm glad it didn't. It wouldn't have gone well!
ReplyDeleteThat's good though because it makes your credit score better. It can only benefit you, so long as you don't charge extra...I admit I would have a hard time with this!! I still have too much of a balance for them to ever consider raising my limit. I'm slowly paying them off, and unfortunately paying interest on them too. I have two: one with Capital One and one with Maurice's (a clothes store)...I was a dodo brain and closed my oldest card with Orchard Bank. It's probably saved me some money in interest although it's not helping my awful credit score (around 611 last time I checked). Wow what a TMI comment for you lol
ReplyDeleteGotta love CC companies.. not. lol! I'm all about cash! ;)
ReplyDeleteMine did that a few months ago. More than one company upped my limit just a bit. It also happened after I made some major payments. It definitely caught me off guard.
ReplyDeleteCongrats! :)