If you didn’t request a credit limit increase yesterday, you should have. After I read this article, I got online on all my credit accounts and requested a credit limit increase on most of them!

Here’s a quote from the article:

“It is impossible to price assets in the funds because there is a lack of liquidity,” BNP’s spokesman Jonathan Mullen added. Which meant there was no market for the assets in the funds.

The German Xetra Dax Index ($DE:DAX) fell 2% to just under 7,454. The FTSE 100 Index ($UK:UKX) in London was off nearly 2% to 6,271. The CAC-40 Index ($FR:PX1) in France was down 2.2% to 5,625.

The panic was so bad that the European Central Bank injected more than $130 billion into the continental banking system. Standard & Poor’s said that move was unprecedented. The Federal Reserve was also putting extra cash into the U.S. banking system.

Did you catch that bold part? “The federal reserve was also putting extra cash into the U.S. Banking System” translates into “Plenty of more 0% APR offers for credit cards, cars, and maybe houses.”

And sure enough, my credit line on my AMEX card went from 12k to 30k just by asking!

credit.png
Other credit cards weren’t so quick but I suspect they’ll all be approved by tomorrow. Of course, I also noted a funny thing. Bank of America had been repeatedly sending me offers for 3.99% APR for the past 12 months on balance transfers and I noticed today that the new rate was 0.99% APR for balance transfers. Good times are here again baby! The Feds opened the spigot to easy money and I’m getting ready to profit from it!

UPDATE: This is so funny….Overall, I received $26,000 in credit line increases on my top 3 cards. This represents a 28% average increase from my old lines. ALL of the banks that I asked for an increase gave them to me; very nice of them ;)

I probably could have gotten more but I didn’t really need the increases so I didn’t ask for much. I’m curious how my FICO will be affected. Technically speaking, I now have lower debt levels because of increased available credit. I’m still waiting to see how my last 25k arbitrage pay back will impact my score. I should know that next week.