Why does the credit limit on my credit card keep increasing?

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keleoliver

Why does the credit limit on my credit card keep increasing?

roger v

Keep paying on time, and it will keep going up. It helps your credit because it lowers utilization but dont charge more than you can afford to pay. If you are not comfortable and feel you will get in trouble with that credit, simply call them and tell them and they will do as you say.

steduc543

As your credit score improves you will get more credit card benefits. It's kind of a trap, pushing you to spend more, because the credit card companies don't make money off of people who pay off credit right away. Just don't let it encourage you to be irresponsible with your money.

Nancy Kay

...they want you more in debt so they get more interest out of you!

jseah114

Because the card issuer sees that you are a good risk, so they are rewarding you by increasing the amount you can charge on your card.

sexytrojan

You have good credit and the bank wants to see you get into debt.

mattylakeydog

so one day when you use for and emergancy 'SNAP" The bank has you trapped.

Because you obviously keep your account in good order!!But be careful, they do this to get you into debt, then charge you when you cant get out of it!!

smellyfoot â„¢

You can ask them to lower it if you are not comfortable with it being so high. But I think it is just a "reward" for being a good customer. I think they do it in hopes you will get to a point that you spend more than you can pay each month, and be forced to pay interest.

dustin00420

probably because you pay on time. They feel safer loaning you more money.

tweaver001

Usually your credit limit increases because you may have a good payment history and your credit card company is extending you more trust. Sometimes they have criteria that automatically raise you up like for example if you've been a member for 6 months or a year without a late payment they automatically increase your credit. It benefits them because if you have more credit you are likely to spend more and keep a balance on them so they are making money off of you.

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