ByAn Easy and Effective Way to Increase Your Overstock Credit Limit
If you're moving or refurnishing your home, the Overstock store can be a great place to buy furniture, bedding, kitchen equipment, and anything else you need for your home. Of course, furnishing your home doesn't come cheap.
Fortunately, Overstock has a credit card that can help you to afford everything you need in one go. But if you find that the credit limit they offer you isn't enough to help you buy everything you need, you can also apply for an Overstock credit limit increase.
For most people, it can feel a little embarrassing if they apply for an increased credit limit and get turned down. But this might happen because they didn't include all the relevant information when they applied.
If you use DoNotPay to apply for a , we'll make sure you present the best possible case for yourself, thus increasing your chances of getting the higher credit limit you want.
Some Facts About the Overstock Store Credit Card
The can only be used to shop on overstock.com. There is no annual fee for this card, and it allows you to buy what you want with no interest for a specific period of time.
- If you make a minimum purchase of $249, then you don't have to pay any interest if you pay that money back within six months.
- For a minimum purchase of $499, there is no interest if you pay it back within twelve months.
- For a minimum purchase of $1499, there is no interest if you pay it back within eighteen months.
- For a minimum purchase of $1999, there is no interest if you pay that amount back within 24 months.
The drawback is that if you don't pay these amounts off within the allotted time, then you're going to end up paying all the interest due retroactively. This is also true if you miss a monthly payment. So it's important to make sure you don't accidentally miss any payments on this card.
Advantages of the Overstock Credit Card
In addition to the fact that this card has no annual fee and gives you 0% financing for a limited period of time, it also has some other advantages.
- You get $30 off your first purchase of $300 or more.
- Anyone with a good to excellent credit rating can get this card. Your credit score should be over 580.
- You can be approved in as fast as one minute for this card.
Just keep in mind that the interest rate on this card is pretty steep (26.99% variable APR) if you don't pay it off within the allotted time period. So it's in your best interests to only buy the items that you will comfortably be able to pay off in the time period during which there's no interest.
How Do You Increase the Credit Limit on Your Card?
Let's say that you have the means to pay off what you owe during the period when there is 0% financing. But for one reason or the other, the store has issued you a low credit limit. What do you do then?
Contact Comenity Capital Bank
You can apply for a higher credit limit by calling Comenity Capital Bank, which issues this card. You can also log into Comenity Capital Bank's account center and request an increased spending limit there.
Hard Pulls vs. Soft Pulls
Keep in mind that when you request a higher credit limit on your Overstock credit card, this will result in a hard pull on your credit report. In general, when you apply for credit, it does result in a hard pull unless you are preapproved by the company/bank. Preapproval leads to soft pulls which are not reflected in your credit rating.
Effect of Hard Pulls on Credit Rating
A hard pull generally results in your credit score falling by five points which is not much unless you apply to several different places for a credit card. In that case, each place that you apply to will do a hard pull, and your credit score can drop by several points.
Avoid Too Many Hard Pulls
Given that too many hard pulls can lead to a drop in your credit rating, you should probably not apply for credit in too many places at once. Better still, you can go for a preapproved card; this is when the issuer of the card approaches you to sign up for a card.
Overstock: Hard vs. Soft Pulls
Sometimes, when you're browsing Overstock.com, you may come across a popup asking you to sign up for the Overstock credit card. If you sign up at that time, there will only be a soft pull on your card. But if you already have a card and just want to increase its limit, you might have to resign yourself to a hard pull.
Get Your Overstock Credit Limit Increased Via DoNotPay
There are so many things that you have to consider when you apply for a . You don't want your application to be turned down, and you don't want it to negatively impact your credit score. But it's difficult to know exactly what a company is looking for when it decides whether to increase your credit limit or not.
It may be a better idea to apply for your credit limit increase through DoNotPay because we'll collect all the relevant information about your financial background for you, then put it together in one letter and send it out to the credit card issuer on your behalf.
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
DoNotPay is:
| Fast | You don't have to spend hours trying to solve the issue. |
| Easy | You don't have to struggle to fill out tedious forms or keep track of all the steps involved in solving your problem. |
| Successful | You can rest assured knowing we'll make the best case for you. |
Increasing Your Credit Limit on Other Cards
It's not only the Overstock credit card that DoNotPay can help you with. It can also help you increase your credit limit on a number of cards that you might already have.
- Increase the credit limit on your Capital One credit card.
- Increase the credit limit on your American Express credit card.
- Increase the credit limit on your Apple card.
- Increase the credit limit on your Bank of America card.
- Increase the credit limit on your Discover card.
So if you want to increase the credit limit on any credit card, use DoNotPay to make your application.
DoNotPay provides a simple, easy and effective way to increase your credit limit while still giving you the option to reject hard pulls on your credit score. It's the best way to get the credit limit increase you want and preserve your financial wellbeing.