Unexpected Credit Limit Increase

[shipo]

TDBank does it again 10 months later...

I logged in to my TDBank portal to pay my bill today and noticed my second auto-CLI in 10-months; this time from $8,500 to $11,500; I have to say, TD has really taken care of me.

Long story short, if one lives in the TDBank geographical area, I cannot recommend them strongly enough.

[Carmella]

Thanks for the info GL57months and shipo Both banks mentioned are close to my house, easily accessible. I will keep that in mind and I will most likely wait until next year, even though I have kept thinking about starting before BK is paid. Ironically I don't have accounts at either of those banks.

[GL57months]

shipo it would be really magical if I had 5K to deposit anywhere, LoL. The silver lining to that financial status is I have a larger after-tax income replacement percentage rate with my social security income. The bend factor helps those of us slightly under the middle-class income bracket stream. COLA helps also.

[shipo]

Congratulations on getting an account set up! Another option for folks in Ohio is Fifth Third Bank; I have no personal experience with them, but have heard good reviews on them. Per their web site, you can deposit enough to bring your secured credit limit up to a maximum of $5,000, which seems to be some sort of a magical number once the card graduates. In my unscientific studying, getting a secured credit card with that limit means, when graduation happens, secured cards on the MasterCard platform become World Elite cards, and cards on the Visa network become Signature cards.

On other well reviewed secured card is the one offered by Discover.

[GL57months]

I just checked their website as well, and Ohio is not on the list of states in the Location drop-down box. Bummer. I was not sure if allowed to reference banks here, but I think it is a great help that shipo has posted this info, thus I will report that Key Bank in Ohio, helped me with a small balance, savings account secured card, three weeks after my Trustee posted paid in full. They approved the card two days after the security deposit was made and the application was completed in the branch. The local branch employees were very helpful and respectful. A positive experience in my case.

[Carmella]

[shipo]

That's great! I looked up TD bank online and it looks pretty straight forward. I still get that feeling I want to open a card/apply for a card. When the time is right I will try a secured card with TD bank.

My only concern for you is there are no branches in your area, and I believe as a bank they are what is referred to as "Geo Fenced" in that they cannot open new accounts for folks who live outside their areas of operation. Checking a map, it looks like the closest branch to you is something along the lines of Leesburg, VA.

[Carmella]

That's great! I looked up TD bank online and it looks pretty straight forward. I still get that feeling I want to open a card/apply for a card. When the time is right I will try a secured card with TD bank.

[shipo]

Hello BKForum community, I logged into my TDBank online account today to pay my TDCash credit card and had to do a double take. It looks like sometime over the last week my credit limit on that card got a very nice bump from $5,000 to $8,500.

History of my TDCash card:

• Following the discharge of my Chapter 13 in March of 2020 I made a few false starts to get back into the credit game and ended up absorbing something like 12 hard pulls against my credit reports in the first few months; this certainly didn't help my scores.
• In late June of 2020 I decided to pony up for a $5,000 limit secured credit card from TDBank; the card was approved and I made my first charge in early July.
• In early January 2021, exactly six months from the day I made my first charge, the interest bearing savings account used for my security deposit was unlocked (i.e. my card was graduated to unsecured) and my TDCash card was upgraded from a regular Visa to a Visa Signature card.
• Then as reported above, in late February of 2022 my credit limit was bumped $3,500 without any associated request from me.

What I'm curious about is what caused the CLI:

• Was it due to the card being unsecured for 13 months?
• Was it due to my Chapter 13 falling off my credit reports last month and my scores rocketing up over 100 points?

Honestly, have no clue, but I'll take it.

Long story short, for those of you rebuilding following a bankruptcy, if you live in an area serviced by TDBank (roughly the eastern seaboard), I cannot recommend them strongly enough.