You can only get a Mission Lane Visa® Credit Card credit limit increase when Mission Lane decides you're eligible and offers you one, as requesting a higher limit is not possible. Mission Lane will evaluate your account at least once within the first 12 months to see if you qualify for a credit limit increase.
Mission Lane Credit Limit Increase Requirements
You must have a history of on-time payments.
You must keep your balance under the current credit limit.
You must not have your charging privileges restricted.
You must keep the account open.
You must not have any bankruptcies on your record.
You must be able to afford minimum payments for a higher credit limit.
Mission Lane will review your account periodically to see if you meet their approval criteria for a credit limit increase. This is a fully automated process and will only result in a soft pull on your credit.
If you’re eligible for an increase, you will most likely be informed via email and through your online account. However, Mission Lane is not required to notify you before a credit limit increase, so keep an eye on your credit card statement.
$500 was my starting limit. I got an increase of $100 after 6 months. I went over my credit limit. I was surprised they increased it at all tbh. I paid the balance to 0 after 3 months. Now I pay it in full every month. I make a payment as soon as I use the card. My goal is to keep it under 30% utilization.
The Mission Lane Credit Card starting credit limit is $300. If you only qualify for this amount, keep in mind that your annual fee will be $75, which means your available credit will drop to about $225.
Credit limits are generally calculated based on your income and credit history. But Mission Lane will re-evaluate your account at least every 12 months to see if you're eligible for a credit limit increase.… read full answer
Yes, the Mission Lane is a good card for people looking to build or rebuild their credit. It doesn’t have any hidden fees, and the issuer offers periodical credit limit increases (if you use your card responsibly). You’re also given many credit-building tools such as:
Here’s some tips from my personal experience. I have been with Mission Lane for 6 months and I just received double of my opening credit increase. I received an email from Mission Lane that they increased my credit limit so I called them just to verify a few things and this is what I was told.
You can’t request a credit increase.
Mission Lane states on the contract that they will check your account periodically within a 12 month timeframe and determine if you are eligible for an increase.
The representative I spoke to was so helpful and gave me additional information. Mission Lane will start to check your account after 7 billing statements and there’s several things they consider when determining whether or not to give an increase or how much. If you are eligible for an increase, there’s certain factors that come into their decision.
-Always pay your bill every month. (In full if you can) if not, more than the minimum.
-Don’t get a late fee
-Don’t leave a $0 balance because they want to see you utilizing the credit you were given.
-Try to always keep your credit utilization under 30% And don’t max out your card to the limit.
Another thing to consider is making sure you follow all of those helpful tips for every card, loan, or anything on your credit report that you can manage and maintain a higher credit score.
Those were the top influences that determine how much of an increase you’ll receive, or if you will receive an increase at all at that time.
Mission Lane rarely gives credit increases from my experience. I have had my card for a few years and I pay in full every month. They do a hard pull. In the beginning any payments made will take a longer time to post to your account but after a few cleared payments, payments will post the following day. There's really no perks with this card. There can be an annual fee, no cash back, no increases. If you are trying to build credit it could help if they give you a good limit.
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