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Regular Contributor
Posts: 133
Registered: ‎03-29-2009
0

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.
Valued Contributor
Posts: 1,547
Registered: ‎09-01-2011
0

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
Posts: 1,115
Registered: ‎10-31-2011
0

Re: Credit limits

Try Barclays, Chase or AMEX (charge) 

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Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Valued Contributor
Posts: 1,441
Registered: ‎01-14-2009
0

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
Posts: 731
Registered: ‎02-15-2012
0

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
Posts: 252
Registered: ‎12-09-2011
0

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
Posts: 133
Registered: ‎03-29-2009
0

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

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

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 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | 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 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |

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