Anonymous
Anonymous asked in Business & FinanceCredit · 1 month ago

Is it a violation of fair credit reporting act if creditor denies credit increase because you don’t SPEND ENOUGH? ?

Literally got denied credit increase and the single reason was that my spending was too low. 

So basically, this is a situation where if you want a credit increase you have to spend more, and then your utilization goes up, credit score goes down, and then next time you request an increase they site “utilization is too high” “credit score too low” ??? This is something we can sue them for

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  • 1 month ago

    Sorry--this isn't really something you understand. If you want a credit increase, you first have to show the card company you can handle the higher bills. In order to get the higher bills, you have to spend more. Makes perfect sense. 

    Your score will only go DOWN when you increase utilization if you don't PAY or PAY LATE. Your score will ALSO go down if you have more credit debt than you can afford to pay--so if you CAN'T pay, WON'T pay, don't PAY on TIME, or have more debt than you have income, you really don't need to get a credit increase at all--you need to become a better manager. Card companies aren't stupid--they understand this much better than you, apparently. 

    Oh, and one last thing:  you can't sue them for a policy. You haven't had any damages you could recover, because their policy prevented you from them. So maybe you should write them a thank-you letter instead. 

  • Erik
    Lv 7
    1 month ago

    first world problems

  • Judy
    Lv 7
    1 month ago

    no...........................................

  • Scott
    Lv 7
    1 month ago

    No, this isn't something you can sue them for.

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  • n2mama
    Lv 7
    1 month ago

    If you aren’t using the credit you already have available to you, then why would they give you an increase? Just so your available credit is higher for your credit score? That doesn’t benefit the credit card companies at all. If you have 2k in available credit and the most you’ve ever used is 200, increasing your limit to 10k would make very little sense. Now, if you use 1800 of that 2000 limit regularly (paying it off appropriately), an increase might make more sense,  because if you had a higher limit, maybe you’d spend more, not pay it all off, and they would make interest on you.

    Not something to sue over, don’t be silly.

  • 1 month ago

    No, it is not a violation of the fair credit reporting act for your card issuer to deny you a credit limit increase.  

  • Anonymous
    1 month ago

    No, denying you a credit limit increase has nothing to do with the FCRA.  

    Look.   If you can't figure out how to spend more without increasing your utilization, you're dumber than a box of rocks.     You could have a card with a 5k limit and still easily spend 10k/month without going over your limit if you really wanted to.    You just sign on to your account once a week and pay what you spent that week.

    "This is something we can sue them for"       No it isn't.  NO ONE owes you a loan.   

    UGH...just another moron who can't figure out a way to solve a very simple problem without playing victim and threatening to sue.     *Rolling eyeballs*

    No clue why you need a credit increase since apparently you don't spend enough anyways...

  • 1 month ago

    They don't have an obligation to raise your limit EVER.  That has nothing to do with the reporting of your credit. 

  • Anonymous
    1 month ago

    Feel free to sue. The judge will laugh at you.

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