Increasing Credit Card Limit - will it go on my credit history report

I currently have an ANZ credit card with a $1,900 limit. I wish to increase it to a $3,000 limit.

I have already received pre-approval letters from the bank etc for this amount.

I would prefer that the limit increase does not appear on my credit history, as it is already crowded with loan applications etc.

Does anyone know if the credit card limit increase would appear as an entry on the credit history report?

thanks
 
If it is the bank offering you a new pre-approved increase then these usually do not hit your credit file. You just sign to say you can afford the increase and pop it back into the envelope that they paid the postage on.:)

If it is you applying, then it probably will hit your credit file.
 
i rec'd a similsr offer from ANZ which i took and they did do a credit check on my file

Well there you go! rugrat was right.

I get a copy of my credit file every year and I've never had one entry for one of these auto-credit limit updates.....and I've been getting them for nearly 30 years ;)
 
Thanks for reminding me. I'm going to get a copy from here: http://mycreditfile.com.au

Yeah I also get my yearly automatic monitoring from Veda advantage. Its great knowing what info you will need to explain to the bank when trying to apply for a loan.

When I asked the ANZ guy if the increase would appear on my credit file, he said "whats a credit file" lol

He then said that it would appear but given his first question I am not so sure he knows what he is talking about. :D



cheers
 
Anyone here work in a credit centre for the majors or anyone from Veda?

They are now putting new entries for existing cards as a continuous credit item. Cheeky! I thought having a card for 10 years will fall out as the histories are only kept for 5 years.
 
I don't think an increase of the cards limit will show up on your credit report. If on the other hand you start becoming delinquent in your payments of the card, that's a different story.

The increased limit however will effect your DSR with the bank, even if you haven't used it. The bank assumes the card is at it's limit for calculations.
 
I don't think an increase of the cards limit will show up on your credit report. If on the other hand you start becoming delinquent in your payments of the card, that's a different story.

The increased limit however will effect your DSR with the bank, even if you haven't used it. The bank assumes the card is at it's limit for calculations.

thats correct,

they work out a certain %, say 5% (just an example) of the limit as your repayment, so if you have a $10k credit card, they will assume that you will/need to pay back $500 per month and hence take it out of your income for serviceability, maybe its an average value of the average australians credit spending,

as for enquriing about limits, I would never ask for a limit increase, that being said, I never go near my limit, if you keep your card long enough, they should offer you more and more, I started off at 18 with a $1000 or $2000 or $3000 limit, every year or so ive taken a limit increase, ive got 2 cards, and if my higher limit one needs to go to get a loan, it will be cut up in seconds!!

ps. I would also think that missing your minimum repayment per month, even if it was $10 might not do your credit any good, or maybe it has to be repeated missings, because sometimes people do simply forget, so if your full balance is $5k, the minimum payment might be $100, or if the balance was $1k, the minimum payment might be $20, its easy to forget $20 but I wonder at which point your credit file gets affected,

note: my current balance is $6200 odd ,and minimum payment is $131, so about 2%
 
P.S sorry to hijack my thread, but maybe someone can answer since the bank is already closed,

Minimum amount due $1500.00 CR 20/10/2009
Previous statement closing balance $1500.00 DR 20/10/2009

my dormant credit card was charged $1500 for a additional card holder fee, which I don't actually have, which was refunded within a few days (YES $1500, it was obviously a bank error)

but checking my bank statement, it says minimum amount due is $1500 CR (note the CR), and my previous closing balance was $1500 DR, so the minimum amount due is NEGATIVE $1500, ie the bank owes me $1005, but my previous closing balance, the one that you normally have to pay is, I owe them $1500,

that being said, I don't want to get a hit on my credit report saying I didn';t pay, I also don't want to get interest charges on $1500, AND I don;t want to pay $1500, and then transfer it back out which would be charged as a cash advance......

hmm.... scratching my head
 
99% sure they don't put it on your credit file for missing ONE monthly due payment. I've missed them before through forgetfullness and nothing shows up on mine.
 
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