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Request Credit Line Increase if student with employed spouse?

Request Credit Line Increase if student with employed spouse?

Old Feb 3, 13, 2:34 pm
  #1  
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Request Credit Line Increase if student with employed spouse?

I have a credit limit of 1,000 on my surpass. I would like to ask for a credit increase. I however have gone back to school and I am now unemployed. I live in a communal state and my wife has an income. What are y'all thoughts about a risk of FR? I put 100,000 for our income the first time but even with out my income now my wife makes almost 2x that amount. I guess if I start a new app or ask for a CLI and put STUDENT would that raise any flags. My problem is more I need that card for upcoming Hilton stays and ont care to go through an FR if I don't have to by just staying put
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Old Feb 3, 13, 2:57 pm
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Join Date: Oct 2012
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Originally Posted by phdtomd View Post
I have a credit limit of 1,000 on my surpass. I would like to ask for a credit increase. I however have gone back to school and I am now unemployed. I live in a communal state and my wife has an income. What are y'all thoughts about a risk of FR? I put 100,000 for our income the first time but even with out.com my income now my wife makes almost 2x that amount. I guess if I start a new app or ask for a CLI and put STUDENT would that raise any flags. My problem is more I need that card for upcoming Hilton stays and ont care to go through an FR if I don't have to by just staying put
I believe in communal states you are allowed to put combined income on your credit app. I do. My wife is the sole "bread winner" as she gets a salary and files tax returns. I manage our investments, but since all inside 401K/IRA, none of it is reportable income as we dont take distributions. Thus my "reported" income is zero.

I'd put your total combined income on your application in future. If they FR, you (presumably) show that on your tax returns, so no problem. They will likely do a hard pull for CL increase.

I'm curious why they only gave you $1K CL in the first place. Low FICO? Lots of other cards? Seems odd.
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Old Feb 3, 13, 3:00 pm
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Join Date: Mar 2012
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Originally Posted by phdtomd View Post
I have a credit limit of 1,000 on my surpass. I would like to ask for a credit increase. I however have gone back to school and I am now unemployed. I live in a communal state and my wife has an income. What are y'all thoughts about a risk of FR? I put 100,000 for our income the first time but even with out my income now my wife makes almost 2x that amount. I guess if I start a new app or ask for a CLI and put STUDENT would that raise any flags. My problem is more I need that card for upcoming Hilton stays and ont care to go through an FR if I don't have to by just staying put
If you live in a community property state, technically your wife's income IS your income. Assuming you file jointly, I would understate income slightly, based strictly on what is on your tax return, (so that nothing would happen in the event of an FR). Whether this would perhaps cause an FR is anyones guess.

To be clear, I'm not a tax/legal professional nor am I purporting to be one, and my advice is based solely on my own personal ethical compass on this matter.
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Old Feb 3, 13, 3:10 pm
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Originally Posted by farwest101 View Post
I believe in communal states you are allowed to put combined income on your credit app. I do. My wife is the sole "bread winner" as she gets a salary and files tax returns. I manage our investments, but since all inside 401K/IRA, none of it is reportable income as we dont take distributions. Thus my "reported" income is zero.

I'd put your total combined income on your application in future. If they FR, you (presumably) show that on your tax returns, so no problem. They will likely do a hard pull for CL increase.

I'm curious why they only gave you $1K CL in the first place. Low FICO? Lots of other cards? Seems odd.
I had a 684 at that time I stupidly aor after a car loan. I applied for a Starwood and surpass they held up one app 7 days so two pulls. After that I learned my lesson. I also had a bit of a utilization issue which was about %51 at the time. I have since learned my lesson and my score is up to 730 now, I have a utilization of %17 now and it will have been a year since my last app in April. I made newbie mistakes but I learned from them and have done much better with my wife's aor. I would like to come out of the garden soon though and app.

I thought a CLI wih Amex was a soft pull?
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Old Feb 3, 13, 3:13 pm
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Thanks cffrost and farwest!
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Old Feb 3, 13, 3:25 pm
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Join Date: Mar 2012
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Originally Posted by phdtomd View Post
I had a 684 at that time I stupidly aor after a car loan. I applied for a Starwood and surpass they held up one app 7 days so two pulls. After that I learned my lesson. I also had a bit of a utilization issue which was about %51 at the time. I have since learned my lesson and my score is up to 730 now, I have a utilization of %17 now and it will have been a year since my last app in April. I made newbie mistakes but I learned from them and have done much better with my wife's aor. I would like to come out of the garden soon though and app.

I thought a CLI wih Amex was a soft pull?
I did a CLI once with Amex to accommodate increased expenses from moving and (if I remember correctly) there was no hard-pull. The rep had me tell him what I wanted to increase the limit to, and he could submit that number for approval or denial. I believe he said I could request up to 3 times my current limit (I requested more than double but less than three times and it was approved).
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Old Feb 4, 13, 6:09 pm
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Join Date: Apr 2012
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Originally Posted by CFFrost View Post
I did a CLI once with Amex to accommodate increased expenses from moving and (if I remember correctly) there was no hard-pull. The rep had me tell him what I wanted to increase the limit to, and he could submit that number for approval or denial. I believe he said I could request up to 3 times my current limit (I requested more than double but less than three times and it was approved).
You can request up to a 3x CLI online and it's a soft pull only. If you're not approved for the 3x, they often counteroffer automatically.
gloreglabert is offline  
Old Feb 4, 13, 11:26 pm
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Originally Posted by gloreglabert View Post
You can request up to a 3x CLI online and it's a soft pull only. If you're not approved for the 3x, they often counteroffer automatically.
I am still nervous to pull the trigger. I have an SPG and Surpass. I am thinking I will just man up and do it. I mean it's only a 3k limit I am asking for. I spend 1,800/month no problem and pay like 3 times a month. I just don't want the heat given I am going to stay at a Sheraton in a month and a Hilton sometime in April.
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