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Wow! I'm a millionaire, have a credit score well over 800, have held the same job for thirty years, my youngest CC account is fifteen years old, and I still only have $42,500 in combined CC limits. What's your secret?

Do you want more than $42,500 in available credit limits? If not, then why worry about it?

If you do want more, here are some tips:
- If you only have 2 or 3 cards, and you want more in total credit limit available, you probably need to open some additional accounts. Look for cards that offer a significant cash back bonus for opening, and if it's a rewards card, be sure that it rewards your current spending patterns. (It doesn't do a lot of good to get a hotel brand rewards card if you never stay at those hotels, for instance.)
- Be sure that your credit card issuers have updated income information - since your most recent account was opened 15 years ago, if you haven't kept the issuers in the loop on your income, they may still be using your income from 15 years ago (or longer)
- Ask your credit card issuers what you need to do to increase your credit limits - different issuers may have different criteria that they look at when granting credit limit increases. And the criteria aren't just based on you - they also have to take into account the issuer's available capital. So it's better to ask for credit limit increases when your issuer has been reporting record earnings, rather than when they are having a bad year.

AJ
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