Is requesting a limit increase considered a new application?

[smit0847]

I want to increase the limit of a card I've had for a long time and want to know if it will be considered a new application on my file (like a brand new card would?)

 

[TomVexille]

Not that I've seen.

 

[ComeFlyWithMe]

I want to increase the limit of a card I've had for a long time and want to know if it will be considered a new application on my file (like a brand new card would?)

They will most likely do a credit check but I've seen these go through as a $0 amount.

 

[RooFlyer]

Not the way the CBA does it. Just happens - the next day your limit is up. Banks love you doing this, so they make it as easy as possible!

 

[Foreigner]

Citi upped my limit overnight after my accepting their invitation to increased limit.

 

[Duffa]

If it's Citi then yes it does affect you.
Even making an enquiry locks you out for a further 6 months if you are unsuccessful.
Can't say how it might impact your Veda score though
As always YMMV

 

[JMFK]

If it's Citi then yes it does affect you.
Even making an enquiry locks you out for a further 6 months if you are unsuccessful.
Can't say how it might impact your Veda score though
As always YMMV

This has been my experience as well.

A couple of years back Citi wouldn't approve a personal loan at the full amount I wanted as I'd recently accepted a limit increase on my Signature card that THEY had offered ME.

When I pushed back and said that I didn't apply for the limit increase, and it was offered to me, the best they could do was 'split the difference' and told me to ask again in six months.

 

[smit0847]

So i asked for a limit increase for an existing citi card and my score has dropped 126 points in a month!!! Is this an error?

The 'enquiry' had the requested limit in it (ie not a $0 enquiry). I thought an enquiry was just checking your suitability not recording what looks like a brand new card?!
Is requesting a limit increase considered a new application while just accepting a limit increase invitation is not?

 

[burmans]

So i asked for a limit increase for an existing citi card and my score has dropped 126 points in a month!!! Is this an error?

The 'enquiry' had the requested limit in it (ie not a $0 enquiry). I thought an enquiry was just checking your suitability not recording what looks like a brand new card?!
Is requesting a limit increase considered a new application while just accepting a limit increase invitation is not?

I wouldn't describe as an error as much as a limitation of the "old" credit reporting system. When you apply for credit they are supposed to supply amount applied for (though I don't believe it mandatory, hence the sometimes zero figure). The whole point of a credit reporting system is that it's reciprocal, I.e. For them to check whether you are suitable they need to supply the information they have, ie that you have applied for credit and how much. Even "accepting" a limit increase companies have been known to do a credit check (mainly to verify you have no defaults) but you can't get this info without disclosing the reason you are asking, ie an application for additional credit.

 

[Sora]

Commonwealth Bank, these days allow you to up your limit, no credit check is done, and if approved you simply get it added straight away - log in, log out.