Getting loans for med school

Icarus
Tue, 14 Jul 2009 16:17:30 +0000

I thought having your credit limit raised meant that since you would be using your card a lot



Thats not what it means, although if you have a good payment history and are constantly running into your credit limit, the card issuer will almost certainly raise your limit in the hopes of getting more finance charges out of you. But credit line increases are more typically granted after holding a card for a certain period of time with good payment history, or because you ask for it, or any number of other reasons.



So what you guys are saying is that since I had no trouble getting my limit raised when I needed it raised, that this indicates that I should have good enough credit to be able to get loans when the time comes?



No, we’re saying that because it sounds like you don’t have any of the disqualifying marks on your credit, you will be able to get the loans (assuming no disqualifying marks between now and then).



asking for your limit to be raised and being denied is a bad thing.



Only if the credit card company does a “hard pull” of your credit (which they often will not), and thats only a bad thing if you have a lot of hard pulls in a short period of time (e.g. applying to a lot of credit cards at once, etc.).