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Baby Credit Limit Hell!!!! HELP PLZ

Established Member

Baby Credit Limit Hell!!!! HELP PLZ

Hi, guys!

I'm new with an account here, as well as posting, but I've silently lurked for quite a while. LOL Anyway, I'm here for some advice. I just checked my credit scores and they are as follows:

Experian 619

Equifax 679

Transunion 660

These are the scores purchased from MYFICO... I've paid off all my credit card balances but they haven't yet posted completely so I expect to see my scores come up next month.

The issue is, I keep ending up with small credit card limits. I currently have three Capital One cards (2 with a $500 limit and 1 with a $300). I've had those cards since 2008 when my credit was in the early 500s. One of the Cap One cards I got in 2011 with an initial $500 limit. As you can see, I can never get an increase but from reading here, I'm aware that Cap One is really stingy on increases anyway...

I also have a BoA card with a limit of $500 that I got 6/2013. 

After seeing my scores and reading on the forum about ppl that got high limits with Amazon store card, I decided to apply and got a whopping $600. Smiley Sad I thought it would be much more. Oh, and I also have a CareCredit card for $1000...

 

TL;DR: With having so many cards with small limits, despite my okay credit scores, is there any way I can finally get a card with a higher limit? I'm afraid to keep applying for fear I will keep getting small CLs... Any suggestions on how to do this? Does anyone else have any experience with a situation like this?

Also, I have no baddies on my report since a medical collection ($420) back in 2008.

 

Sorry if I did this wrong or posted in the wrong place.

Starting Score: 2/14 EX 619 EQ 679 TU 660 (all from myfico)
Current Score: 6/15 TU 671 (Discover) EQ 665 (Citi)

Chase Freedom $2,200 | BOA Cash Rewards $1,500 | Discover IT $7,500 | Citi Diamond Preferred $2,750 | Citi DoubleCash $1200 |Amex BCE $1,000 | Amazon Store Card $1,300 | Capital One QS1 $1,250| QS1 $1,250 | QS1 $1,250 | Care Credit $1,000 | Bill Me Later $840 |
Mercedes Benz Financial Car Loan - 2011 C300 - $524.33/Monthly 60 Month Loan 1.99% APR
15 REPLIES
Established Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ


j_gizibe wrote:

Hi, guys!

I'm new with an account here, as well as posting, but I've silently lurked for quite a while. LOL Anyway, I'm here for some advice. I just checked my credit scores and they are as follows:

Experian 619

Equifax 679

Transunion 660

These are the scores purchased from MYFICO... I've paid off all my credit card balances but they haven't yet posted completely so I expect to see my scores come up next month.

The issue is, I keep ending up with small credit card limits. I currently have three Capital One cards (2 with a $500 limit and 1 with a $300). I've had those cards since 2008 when my credit was in the early 500s. One of the Cap One cards I got in 2011 with an initial $500 limit. As you can see, I can never get an increase but from reading here, I'm aware that Cap One is really stingy on increases anyway...

I also have a BoA card with a limit of $500 that I got 6/2013. 

After seeing my scores and reading on the forum about ppl that got high limits with Amazon store card, I decided to apply and got a whopping $600. Smiley Sad I thought it would be much more. Oh, and I also have a CareCredit card for $1000...

 

TL;DR: With having so many cards with small limits, despite my okay credit scores, is there any way I can finally get a card with a higher limit? I'm afraid to keep applying for fear I will keep getting small CLs... Any suggestions on how to do this? Does anyone else have any experience with a situation like this?

Also, I have no baddies on my report since a medical collection ($420) back in 2008.

 

Sorry if I did this wrong or posted in the wrong place.


That medical collection has the potential to hold you down until it's gone.  You are correct in that you should focus on growing the cards you have rather than apping for new ones.  Is everything else on the reports in good shape?  Those scores seem a bit low for having cards that are several years old and one old collections.  You may want to post in the Rebuilding your Credit forum to see if the folks there can figure out how to help you get your scores up.  After that, I'd definitely be firing off emails to the Capital One EO for some CLI's.

   
FICO Scores 800+
Moderator

Re: Baby Credit Limit Hell!!!! HELP PLZ

Grats on your Amazon approval Smiley Happy

 

Call Credit Solutions and recon the limit. Good luck.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

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Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ

Your EX score is lower than the other two - - do you have some baddies on there that you don't have on the others? I don't know what your credit profile looks like (lates, utilization, collections, etc?) but one suggestion is to work on increasing the limits with the cards you currently have. Have you tried the CL increase button on the Cap1 site? If you have not, I would actually reach out to them on Facebook or maybe even the executive office, provided you have a good relationship with them. I had to go the FB route for Cap1 recently also; I have had an account with them since 2005 that has always had a $500 limit, but I was able to get a $500 increase in Oct/Nov. Not much, but it is a start, and as your limits grow, your score will also and eventually you may be able to get higher limits on future cards. For now IMO I would just work on the ones you already have. Some people say higher limits beget higher limits. Best wishes!


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Current Score: EQ FICO 688 3/10/14 TU FICO 680 3/10/14 (Barclaycard) EX FICO 691 1/12/14 (LP)
Goal Score: 700
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Valued Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ


Leadberry wrote:

j_gizibe wrote:

Hi, guys!

I'm new with an account here, as well as posting, but I've silently lurked for quite a while. LOL Anyway, I'm here for some advice. I just checked my credit scores and they are as follows:

Experian 619

Equifax 679

Transunion 660

These are the scores purchased from MYFICO... I've paid off all my credit card balances but they haven't yet posted completely so I expect to see my scores come up next month.

The issue is, I keep ending up with small credit card limits. I currently have three Capital One cards (2 with a $500 limit and 1 with a $300). I've had those cards since 2008 when my credit was in the early 500s. One of the Cap One cards I got in 2011 with an initial $500 limit. As you can see, I can never get an increase but from reading here, I'm aware that Cap One is really stingy on increases anyway...

I also have a BoA card with a limit of $500 that I got 6/2013. 

After seeing my scores and reading on the forum about ppl that got high limits with Amazon store card, I decided to apply and got a whopping $600. Smiley Sad I thought it would be much more. Oh, and I also have a CareCredit card for $1000...

 

TL;DR: With having so many cards with small limits, despite my okay credit scores, is there any way I can finally get a card with a higher limit? I'm afraid to keep applying for fear I will keep getting small CLs... Any suggestions on how to do this? Does anyone else have any experience with a situation like this?

Also, I have no baddies on my report since a medical collection ($420) back in 2008.

 

Sorry if I did this wrong or posted in the wrong place.


That medical collection has the potential to hold you down until it's gone.  You are correct in that you should focus on growing the cards you have rather than apping for new ones.  Is everything else on the reports in good shape?  Those scores seem a bit low for having cards that are several years old and one old collections.  You may want to post in the Rebuilding your Credit forum to see if the folks there can figure out how to help you get your scores up.  After that, I'd definitely be firing off emails to the Capital One EO for some CLI's.


+1

 

Work on getting that medical collection taken care of and hopefully deleted from your credit report. Don't app for anything else right now. Too many apps in a short amount of time will guarantee you a place in low limit purgatory due to the new tradelines hurting your AAoA and the inquiries. Work with the Cap One EO to get your oldest account a major bump.

 

The scores you are showing are mostly the minimum score to get approval unfortunately. Also it could be that the creditors you're apping with are pulling your Experian score which is your lowest one. I'd pull your entire credit reports from www.annualfreecreditreport.com and see if there is any thing else on there that could be holding your scores back. A 6 year old collection *should* ding you a bit less than a more current one.

 

Also, what are your balances on each of those cards? If you're posting a balance on all of them, then that is hurting you. If you're posting a balance that is close to the total  limits, then that is really hurting you. What is your UTL per card, and over all UTL? Cap 1 is very balance sensitive so you'll get no where with them if you're carrying balances that are high compared to your limits.

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Mega Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ

Welcome to the forum! If you have high utilization when your current cards statements cut may be keeping your scores down. Paying them before statement cuts and keeping one <9% will help your score more then paying them all to zero. Also as mentioned contact the EO of Cap1. Good Luck hopefully a Mod will move to rebuilding.

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Senior Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ


gdale6 wrote:

Grats on your Amazon approval Smiley Happy

 

Call Credit Solutions and recon the limit. Good luck.


+1,  Welcome to the forum and wishing you the best in recon process!  Keep us updated

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Regular Contributor

Re: Baby Credit Limit Hell!!!! HELP PLZ

Are you a member of your local CU?

 

When my Ch 13 was discharged last May I talked to them about getting a CC and they said "All we can offer is secured.  Go get a CapOne card and come back in 6 months."

 

So I did... and they gave me a $7000 Visa.

 

 

Valued Contributor

u

USAA pulls eq, your best report--and they would give yo a 4 figure starting cl....I would use the eo of cap one to get a cli, and perhaps a pc to a quicksilver product (preferrably the one without an AF).



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Established Member

Re: Baby Credit Limit Hell!!!! HELP PLZ

I currently have balances reporting, but I've already paid them off. Just not in time for them to report and update my score. Currently my credit report thinks I owe $1500 but in all actuality, I only have a balance of $250 on one card (with a $500 limit). My combined credit limits is $3460 (with my newly added Amazon card). 

Starting Score: 2/14 EX 619 EQ 679 TU 660 (all from myfico)
Current Score: 6/15 TU 671 (Discover) EQ 665 (Citi)

Chase Freedom $2,200 | BOA Cash Rewards $1,500 | Discover IT $7,500 | Citi Diamond Preferred $2,750 | Citi DoubleCash $1200 |Amex BCE $1,000 | Amazon Store Card $1,300 | Capital One QS1 $1,250| QS1 $1,250 | QS1 $1,250 | Care Credit $1,000 | Bill Me Later $840 |
Mercedes Benz Financial Car Loan - 2011 C300 - $524.33/Monthly 60 Month Loan 1.99% APR