ByHow to Increase the Credit Limit on Your CU SoCal Card
You want to put a major purchase on your credit card to spread it over a few months, but you have a lower limit on your card. Or, perhaps, you want to quickly decrease your credit utilization ratio. TIf this is the case, then you might be wondering how to get your credit card limit increased.
Doing so will allow you to borrow more money, but always make sure you are confident you can pay it back. Or it will improve your credit score quickly. not only with CU SoCal but with other card issuers, including American Express, Bank of America, Discover, Apple, Wells Fargo, Credit One, and Citi.
When Can I Request a Credit Limit Increase From CU SoCal
Credit card issuers limit your credit for a reason. They generally won't take requests from people they consider a potential poor risk. This includes new customers.
Most issuers will not look at a request until you have been a customer for at least three months. CU SoCal does not make its specific requirements public, however. Because of this, you will need to check with them to find out whether you are eligible for a rate increase.
They also do not make their frequency limits available, how often they hand out automatic increases. (Most credit card issuers do increase limits automatically over time as the customer builds experience with them).
The best times to request an increase are:
- When you get a raise, promotion, or higher-paying job.
- When your credit score is particularly good.
- When your track record with the company is good.
Thus, it's best to wait at least several months before requesting an increase. You can also potentially avoid having to make a request by finding out when they do automatic increases and how much those are; it might be that if you wait a little bit, you will get what you need without asking for it.
What Information Will CU SoCal Ask For?
CU SoCal does not post a specific list of the information they ask for, which makes this particularly annoying. However, most companies will ask for:
- Your income for the last year.
- Your employment status.
- How much you pay for your rent/mortgage
- How much of an increase do you want. Make sure you know this upfront. Don't be vague about it.
There shouldn't be much more to it than that. They just want to know your current state of financial health.
Things to Consider Before Requesting a Credit Limit Increase From CU SoCal
There are some things you should take into account before you request a credit limit.
| Hard Credit Inquiries | Issuers often pull a hard inquiry on your credit report, which can hurt your score. You don't want to do this right before or right after looking for another loan. CU SoCal does not state whether they make hard inquiries, so check with them before making your request. |
| Timing | For example, don't make a request right after you lose your job. |
| Standing | Pay off as much of your existing balance as you can and make sure you have a few months of on-time payments. |
| Temptation | Is it a good idea to increase your credit limit right now? Are you likely to borrow more than you can pay back? |
In most cases, though, you benefit in a number of ways from a higher credit limit. If you feel that you're due for a limit increase, read on.
How to Request a Visa Credit Limit Increase From CU SoCal on Your Own
CU SoCal provides three ways to request a limit increase.
- Submit an application online. This is the easiest way for many people, but if you do it wrong, you have less breathing room.
- Call 866-287-6225 and talk to a representative.
- Visit your nearest branch.
Option three is obviously the least convenient unless you live very close to your branch. Talking on the phone can be stressful. However, as mentioned, your online application has to be close to perfect to be successful without further hassle. You may need to haggle, negotiate, or convince.
Next Steps for Requesting a Credit Limit Increase From CU SoCal If You Can't Do It Yourself
Unfortunately, if you fail, you are likely to have to wait a few months before you can ask again. Make sure you get from them why they turned you down so you can address those factors.
It can take many months to get your limit increased, which does nothing to solve whatever your reasons for requesting one were. Thankfully, there's a better way to get it done elsewhere.
How to Request Higher Credit Limits Using DoNotPay:
This is where you need to aggravate the problem. Talk about the main issues of trying to reset your password and the common problems most people face.
How to request higher credit limits using DoNotPay:
If you want to request higher credit limits but don't know where to start, DoNotPay has you covered in six easy steps:
- Go to the Credit Limit Increase product on DoNotPay.
- Select which type of card you own and your credit provider.
- Tell us more about your card, such as when you first created this card, your current credit limit, what you would like your new limit to be, your card number, and whether you've missed past payments.
- Tell us more about your current income and expenses and why you would like to request a limit increase.
- Indicate whether you want to allow hard inquiries to be made into your credit history. Upload a copy of your ID and provide your e-signature.
- Submit your task. DoNotPay will deliver the request letter on your behalf. You should hear back from the card provider with confirmation or a request for more information within a few weeks.
Why Use DoNotPay to Request A Credit Limit From CU SoCal
DoNotPay will deliver a request letter to that will contain all of the information they need. No need to call or, worse, physically go over there. It's easy, and we will make the best case for you.
What Else Can DoNotPay Do?
DoNotPay can solve all of your tedious credit-related problems and many more. For example, we can help you with:
- Getting a chargeback or refund.
- Applying for a new credit card.
- Filing a complaint.
Count on our AI Consumer Champion to make sure that you get your issues solved faster, with less hassle, and a far higher rate of success.