Short version: I got a USD Visa card from RBC a couple of weeks ago, but I'd like to have a larger credit limit. How long should I wait before asking for it to be increased?
Long version: I'm self-employed, and most of my company's expenses (and income) are in US dollars. Since it seems to be almost impossible for a small business to get a USD credit card, I decided to get one for myself and have the company reimburse me. I have a good credit rating (equifax says a score of 823), but RBC only gave me a $5k credit limit (the minimum for that card); I'd like to use the card for payments larger than this. I have $10k parked in a savings account at RBC, and I'd happily "pre-pay", but RBC told me that wouldn't work. It seems that the solution is to convince RBC to give me a higher credit limit; but I can't imagine they'd be very happy with someone getting a credit card and immediately asking for the limit to be increased -- so how long should I wait to have a good chance of success?
Long version: I'm self-employed, and most of my company's expenses (and income) are in US dollars. Since it seems to be almost impossible for a small business to get a USD credit card, I decided to get one for myself and have the company reimburse me. I have a good credit rating (equifax says a score of 823), but RBC only gave me a $5k credit limit (the minimum for that card); I'd like to use the card for payments larger than this. I have $10k parked in a savings account at RBC, and I'd happily "pre-pay", but RBC told me that wouldn't work. It seems that the solution is to convince RBC to give me a higher credit limit; but I can't imagine they'd be very happy with someone getting a credit card and immediately asking for the limit to be increased -- so how long should I wait to have a good chance of success?