Credit Limits

[rockinw]

When I started re-building 7 or 8 months ago i applied for and recieved Cap one $300.Cl it went to $500 at 6 months. Then got discover it with $1000. I am an AU on wifes Citi Sears card with $4500 CL. Recently recieved pre-qual for BoA card applied and recieved $11000 CL. Was amazed and didnt really believe it untill I recieved my card. I have since used the BoA almost exclusively and ran ~ $1000 thru this card in the short time I have had it. I pay it off every few days and plan to let a very small balance report. All other cards are at 0 balance. What is the best plan of attack to get my other cards CL raised. Almost forgot, I got the BoA PC'ed to cash rewards. Thanks for everybody on the forums help. You people are a God send to me on this journey.

[takeshi74]

Limits are based on the creditor's critiera, your credit and your income.  Best way to improve the latter two and request CLI's as the creditors allow them and your credit and income improve.  As always, consider the usual factors that play into credit scoring:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

If you're making payments on time, keep utilization in check, have 2-3 revolving accounts plus a good mix of other types of credit then it's just a matter of putting in the time to build positive payment history and AAoA.  See if AmEx offers any cards of any use to you to get your MSD established for backdating purposes down the road plus to take advantage of the 3x CLI (see the thread if you haven't alread).  Credit unions can sometimes provide higher limits as well.

[rockinw]

Thanks for the reply. Cap one did pc my platinum to the Quicksilver but no CLI. I guess what I was really hoping is that Discover and Cap one would take notice of the higher CL on BoA and adjust theirs accordingly. It is hard to utilize toy limits and keep UTIL in check. Really I am just very happy they gave me a chance.

[Creditaddict]

Once your new BofA card is reporting on your credit report I would take the hp and ask for a CLI on Discover to $10k, if they don't come up at least to $5k I would ask to speak with an underwriter and have the request manually looked at.

Capital One you will have to send in an email to the presidents office and ask for the CLI that way, leave your contact information and they will call you.

[rockinw]

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@Creditaddict wrote:

Once your new BofA card is reporting on your credit report I would take the hp and ask for a CLI on Discover to $10k, if they don't come up at least to $5k I would ask to speak with an underwriter and have the request manually looked at.

Capital One you will have to send in an email to the presidents office and ask for the CLI that way, leave your contact information and they will call you.

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Thanks for the advice. I have some old baddies that i may wait to drop off first. The BoA is my go to card now and if I keep low UTIL across the board maybe they will come up on their own. This is an addictive pastime. haha