Originally Posted by
InsaneTravel
Here's another tip with CIBC, call every 6 months to increase your Credit Limit whether you need it or not. High limits are very good for your credit score (as long as you don't use all of the available credit). when you call they'll ask why you need a higher limit, just say Home Reno or planning a vacation.
becareful with this... as that is what I had been doing for last 15+ years where my no-fee dividend card had a very very high limit. When I tried to apply for the MC Aventura card and they actually reject it and they didn't even explain to me why in the letter. When I called in and question on how the heck I can be reject and they said CIBC had already granted the maximum credit limit that CIBC can on that one card that I have. After many call and "negotiate" with each agent, it was until I suggested to "move" the credit limit from the div card over for my MC and that is when the last agent said "off course we can do that." then 5 min later "sir, you are now approved, card will be send out...." Not sure why the agent didn't suggest that at first as that is the problem. So in my case, I move 20K limit over, but the agent just ask me how much I want.