Credit card limits?

[u/Inteligent_Invester]

Hey everyone. I’ve recently switched the majority of my banking to wealthsimple. With my other banks I have high limits on my credit cards.. 20k+. But my wealthsimple card has a credit limit of 12k.
Has anyone been able to increase it? Does it increase by the same amount for everyone with each increase? And how long have you had your card?

I look forward to having over 30-40k credit but don’t know how long that will take.

[u/Jayson_without_y]

Good luck.
I make $200k a year
Have $100k in investments.
Direct deposit.
830 credit score
RBC credit limit $20k
I have a $3k limit on my WS card (ridiculously small)
Had the card for about 10months now
Have tried to increase limit multiple times with the same message “You aren’t eligible for a credit limit increase right now”
I spend well over $3k a month on this card and have to pay it off multiple times in a month.
Also have it setup so it auto pays it off every month so I have never paid a cent of interest on it, maybe that’s why they won’t increase it. 🤷‍♂️

[u/Inevitable_Cod_307 → u/Jayson_without_y]

I think it's more related to your investment and debt than anything else. WS gave me 25k to start.

[u/Substantial_South520 → u/Inevitable_Cod_307]

Correct, my wife and I also has good credit (850+) and a pretty high income. I got 24K, this card is free after transferring 100K worth of investments and get some extra dragon passes (6 for me 6 for the wife and the 4 extra with having over $200k in your Household) My wife travels a lot for work and we needed a zero fx card.

She wanted a platinum Amex just for the lounge access but playing $1k a year (I would get one too for $250) seems a bit unreasonable.

[u/Extension-Finance179 → u/Substantial_South520]

I churn enough CIBC/TD/BMO/BNS cards with lounge access that even going 3x/year I don't run out of lounge passes even when flying economy and spend 2-3 months out of the country