do you know what factors the cc issuers use in determining credit limit increases? I requested a bump from $5k to $15k but they (PNC) only gave me $7500. Is it income? Credit rating? History of usage? Something else? I figure I have time to work on it.
I believe all of those can play a role, yes. Better to ask for more and see what they'll give you, IMO.
How likely is this still to be possible in 2 years?
You know, when I started this last June, I was thinking this maybe would last a year. I'd be ecstatic if it lasted two.
So I didn't open any new cards for this (and told people I probably wouldn't, and that I wasn't, when they asked if they should). Now I'm second guessing that.
It's been six months, and it's going strong. Even more importantly, the old recommendation has been in business four years, so I thought, hey, maybe there's a few years left.
But the new recommendation has been in business TEN years. I specifically asked the owner about the longevity of this stuff, and he says that while things change in the field (carriers get or remove restrictions, they have to provide different documentation, etc.), he doesn't see it going away, just constantly changing.
I'm about to be under 5/24 for Chase soon, and apply for the Sapphire Reserve, but once I get that, I may do a huge app-o-rama for like 10-20 cards for each of us, from a bunch of the different accepted issuers, basically apply for anything as long as it has no annual fee. Hopefully get a bunch, then request credit increases on them every 3 months, and wait two years.
It's hard to say it will last for sure, and I'm not counting on it... but I've definitely upgraded my probability of this being around at least 2-3 years as much more likely than not. No reason to not take advantage of it now, in case it does get cancelled (would be a bummer to keep delaying on doing it, then find out a new law or FICO scoring change makes it not feasible or something, and realize you missed out on six months or a year of tradeline sales just due to procrastination), but I do think it will be here for awhile.Summary: Six months of "wow, this really does work" combined with "wow, the new recommended company has been doing it a decade" has shifted my opinion to thinking this will be around for a good while yet.