raising my credit limit

[simple987]

I currently have 2 credit cards (Visa & MC), each with approx $4500 credit limit. I have never carried a balance, but rarely charge more than 500 in a month. In the last 6 years, they have periodically increased my limit but haven't recently. Next month I will move to a my own place and will have some large purchases. I plan to use my card and then pay it off immediately. I don't want to use more than half my limit on each card, and I will probly need more than that ($9000/2= $4500) since I am buying appliances and furniture.

Is it realistic to call the credit card company and request a higher limit? I have been reading how people call the company to request all kinds of things, has anyone done this before?

[sweeps]

Yes, companies often do raise limits upon request.

But I'm not sure it is necessary in your case. I'm guessing you're concerned about the debt ratio on your credit cards. This is really only a concern for those who have balances carrying over month to month, or who are taking out a mortgage or other loan in the immediate future.

[disneysteve]

I agree with sweeps. You can call and request a higher limit, but it probably isn't necessary. If you plan to pay the bill in full right away and are just using the card to get rewards, using more than half your limit isn't an issue. It won't affect your credit score unless they just happen to report that day when the balance is up which is unlikely.

[buzz]

In many cases, you can simply apply for a new card with the same issuer and then close one of the cards, merging their credit limits. One month is a rather tight time frame though. If you talk to customer service and explain your situation, they may give you a nice increase. It's a tough call with the current credit market.

Alternatively, you can pay your balance off immediately after making a purchase, without waiting for a bill. You will then have your full limit available again once the payment clears.

[Hypersion]

In many cases, you can simply apply for a new card with the same issuer and then close one of the cards, merging their credit limits. One month is a rather tight time frame though. If you talk to customer service and explain your situation, they may give you a nice increase. It's a tough call with the current credit market.

Alternatively, you can pay your balance off immediately after making a purchase, without waiting for a bill. You will then have your full limit available again once the payment clears.

It's a bad idea to close the older card since this might decrease the length of your credit history.

[safari]

It's a bad idea to close the older card since this might decrease the length of your credit history.

I am not sure that's true. I have some credit cards that I closed years ago, and they are still showing up on my credit report. The length of credit history is not dependent on whether the accounts are active or not.