07-24-2013 11:36 AM
Hello all!.....and WAR EAGLE!
My question is this. Did everybody here start with low limit cards and build up to the larger limit(ie$1,000+) cards, or did you just start getting the higher limit cards from the start? You can see my cards listed at the bottom of this post. The highest limit on these cards are the victoria's secret($500) and Total Rewards Visa($500). The other cards vary from $300-$400 limits. I know that PIF each month is key to CLI's. Does salary come into play with the limits issued, upon opening accts? I recently got an offer from First Premier Bank() with a preapproved limit of $700, and I actually considered it becuase of the limit, itself. I hear that the cc companies look at your current limits and base their decision off of your current limits, or somewhere close(is that right?). I did not take the offer, but should I? I have recieved some excellent advice from my friends here(creditaddict) as to call credit solutions and my various other creditors and simply ask for the increases....which im still patiently waiting to do(i wanna get myself to a better place before i do). So did you guys have to work for those limits-or-did they come easy?
Thanks for y'alls time!!
07-24-2013 11:44 AM
I think everyone starts low, I know I did, I still want to get that Total Rewards card but waiting foir some more Util to drop
whatever you do don't get first premier...have you tried the preapproval link for capital 1?
07-24-2013 11:45 AM
07-24-2013 11:50 AM
I started with low-limits. $500 for Freedom, and $700 for BofA Cash Rewards 8 months into my credit history. 9th month Barclays took a chance with me and approved me for $2000. The other cards that I've acquired within the last month, one of the issuers matched my previous highest limit, and the others offered me higher limits. So I believe it's all a matter of how thick or thin of a file you have
07-24-2013 11:53 AM
No, not everyone started with low limit credit cards. In today's day and age though.. most likely..
I know my first card, about 10 years ago was a Bank of America card. I got a preapproved offer in the mail.. I applied.. $10k limit. I had nothing else on my credit report other than a student loan in deferral...
I know of a younger person though who just got approved for a Bank of America card with a highish starting limit of $3k. He's had an account with them since he was first born. He's only 19 and obviously puts money through his checking account. He had absolutely nothing on his credit report. The banker inside said she's recommend to the analyst that he get it because of the banking relationship for the past two decades. Approved!
This might be rare, but you never know. Banks aren't giving out credit cards like they used to though.
07-24-2013 11:55 AM - edited 07-24-2013 11:55 AM
07-24-2013 11:57 AM
Walmart started me off with $100 CL! And this was back in '05. I guess it was a lot back then? Can't buy crap for a hundred bucks these days. lol
07-24-2013 12:00 PM
07-24-2013 12:03 PM
07-24-2013 12:06 PM - edited 07-24-2013 12:06 PM
One of my close friend started off with 30000 CL with Citi Dividend Card right out of grad school. He only had one other card from BofA for 900$. I know it's hard to believe but true... I made him show his online account just to verify he isn't bluffing lol
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