Personal Finance

Does increasing the limit with one card help increase the limit with my others?

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  • Jan 2nd, 2015 12:10 am
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Jan 1st, 2015 10:30 pm
bruenor9 [OP]
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON

Jan 1st, 2015 10:30 pm

Does increasing the limit with one card help increase the limit with my others?

So I have 3 credit cards. Ones the Tim Hortons garbage, the other is the TD Gold Elite and MBNA Smartcash.

I have a 500$ limit on both cards, while my Gold elite is is obviously a 5000$ credit limit.


Anyways, I'm wondering is having a 5000$ credit limit will help me like raise my limit for my MBNA Smartcash?
5 replies
Jan 1st, 2015 11:45 pm
604nation
Deal Addict
Aug 31, 2014
1505 posts
563 upvotes
YVR, BC

Jan 1st, 2015 11:45 pm

No - if you bank with TD it is likely why the limit is higher?

The others you would need to contact them to ask for a higher limit, generally most issuer's wait up to 6 months before increasing a credit limit and would do a hard pull on your report.
Jan 1st, 2015 11:47 pm
panda470
Sr. Member
Sep 24, 2010
917 posts
65 upvotes
Toronto

Jan 1st, 2015 11:47 pm

Increase in the limit depends on many factors e.g. Length/quality of credit history, credit score (which includes different factors like utilization ratios etc),and annual income.

So yes, if you are using the cards responsibly, with time the lenders will raise your limits (some require you to request, and some offer you pre-approved increases that you only have to accept.
Jan 1st, 2015 11:48 pm
panda470
Sr. Member
Sep 24, 2010
917 posts
65 upvotes
Toronto

Jan 1st, 2015 11:48 pm

604nation wrote: ↑No - if you bank with TD it is likely why the limit is higher?

The others you would need to contact them to ask for a higher limit, generally most issuer's wait up to 6 months before increasing a credit limit and would do a hard pull on your report.
I believe most will do soft pull for the limit increases. But there could be exceptions.
Jan 2nd, 2015 12:02 am
bruenor9 [OP]
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON

Jan 2nd, 2015 12:02 am

But for example MBNA, would they increase my limit because now i stepped up my game and have bigger limit increases.



Also will these bigger limits increase my credit score?
Jan 2nd, 2015 12:10 am
604nation
Deal Addict
Aug 31, 2014
1505 posts
563 upvotes
YVR, BC

Jan 2nd, 2015 12:10 am

you would have to request it - they would not look at your TD credit limit and say "hey he has 5K with TD, we should do the same"

you would need to ask for the 5K limit and they would do a soft or hard pull to make a decision based on their own criteria and your credit utilization etc.

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