The “Establishing Good Credit” thread reminded me to post something I’ve been meaning to ask …
At what point should I ask for an increase in my credit limit and a decrease in the interest rate the companies charge me? I have a Visa and a Discover. I try to use the Discover whenever I buy something, but I don’t buy anything with the cards if I don’t have the cash and wasn’t planning to buy it in the first place.
I pay them off every month, on time, and I don’t ever carry a balance. Of course, if an emergency happened and I were forced to have something stay on my card, then I would prefer that the rates would not be as high as they currently are. I would also like to get a higher credit limit. I’ve had the Visa for a couple of years and the Discover for about 8 months. When and how should I ask about getting an increase on limit, and a decrease on interest rate?