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Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Credit limits

I currently have 2 credit cards, ones limit is $300to and the others limit is $500. My credit scores have gone up to the 759 and 786 since i got both of them. Scores were in mid 600's when i got them.

Will those small amounts affect my chances of getting a new card with a high limit? I make around 50k a year so I would like a higher limit card to keep my utilization low.

Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


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Valued Contributor
mxp114
Posts: 1,356
Registered: ‎09-01-2011

Re: Credit limits

Most lenders will match or exceed the limits by a certain percentage, you're probably looking at $1000 - $2500 right now based on your existing lines. I can't imagine anyone going beyond that until you establish more experience with higher limits.

Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011

Re: Credit limits

Try Barclays, Chase or AMEX (charge) 

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Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Credit limits

[ Edited ]

I think the Chase Freedom would be a good option. They may give you a high limit, but they can offer low limits instead of a flat out denial.

 

After you see how that goes, you can look at an amex revolver with a starting limit of $2,000. The 61 day cli will get you where you want to be.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Valued Contributor
kevinjjc
Posts: 1,301
Registered: ‎01-14-2009

Re: Credit limits

Are you eligible to join Navy Federal CU? They are known to give out high limits. Another good route is an AmEx revolver for their soft CLI's. Also, Walmart card for the free TU08 FICO score and soft CLI's.
Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012

Re: Credit limits

I can only speak for myself here, but I had no problems with lenders exceeding my existing lines.  I only had two $750 lines reporting, and Amex gave me a $6,000 limit on my Blue and Chase a $2500 limit on my Freedom.  However, I had also had an Amex charge card for almost two years when I applied for both of those cards, that I had put just about all of my spending through.  I'm sure that was influencing Amex more than my two CapOnes.  Anyway, don't assume you'll have to put up with more low limits.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Frequent Contributor
GBPac12
Posts: 252
Registered: ‎12-09-2011

Re: Credit limits

Your best bet would be trying to join a CU and applying for one of thier CCs. They are usually pretty flexable and your more involved with the application process, where your usually met with a CU rep and they help you along the way.


Starting Score: EQ: 600, EX: 580, TU: 599
Current Score: EQ: 710 on 01/22/12, TU: 763 on 02/02/12, EX: 753 on 1/28/13
Goal Score: EQ: 775, TU: 775, EX: 775


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Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Credit limits

I currently belong to a credit union.  I was thinking either trying at the CU or going with the Chase Freedom card.  Thanks for all the info


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


Take the FICO Fitness Challenge
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Credit limits


AJC1987 wrote:

I currently belong to a credit union.  I was thinking either trying at the CU or going with the Chase Freedom card.  Thanks for all the info


Usually credit unions don't offer real great rewards.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
CruzImperial
Posts: 863
Registered: ‎07-04-2012

Re: Credit limits

Like said before, try to set dates with Amex. Even a charge card will bring you backdate later on and guarantee you don't get any more hps from them.
Fico Scores: . Walmart TU 748 . App free since Aug 2013 .

Cap One Journey 500 | Discover IT 1k | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 6k | Barclays Apple 2.5k | BoA CR 800 | CSP 7.2k

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