Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 415
Registered: ‎04-02-2012
0

Experience with $5,000+ CL cards

I said in another thread that I ended my app spree due to that I got denied a Chase Sapphire card.  I tried to recon it via backdoor but still nothing, mostly because they just gave me a Freedom Card with $5k.  The next day I tried to do a 2nd recon, but again, denied and the rep said it's really because I don't have experience with a $5k+ CL's, according to my credit reports, which is definately true.

 

So now that I got some $5k cards coming in, what's a good way to "gain experience" using these cards?   Just using them like any other card?  I probably won't even charge up more than $500 at a time unless I mostly use them for my everyday normal expenses and bill paying.

 

I just want to keep that info on hand for when I go app crazy fall 2013 when all of my inquires don't count against me.  For now I'll be gardening.  I'll be eyeing the Chase Sapphire Preferred and AMEX Blue Cash Preferred then.

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Experience with $5,000+ CL cards

They just want to see some more 5k+ tradelines that have a little age.  Nothing to do with use etc.  They only like to issue Sapphire Preferred with 5k limits minimum.  So the more tradelines you have over 5k, the more comfortable they are giving you at least 5k.  If you could get some of your older cards past 5k, that would help.  Don't think there is easy way for them to determine when a tradeline got a CL increase.

               LIMITS IN CARD DESCRIPTIONS
Frequent Contributor
Posts: 415
Registered: ‎04-02-2012
0

Re: Experience with $5,000+ CL cards


Crashem wrote:

They just want to see some more 5k+ tradelines that have a little age.  Nothing to do with use etc.  They only like to issue Sapphire Preferred with 5k limits minimum.  So the more tradelines you have over 5k, the more comfortable they are giving you at least 5k.  If you could get some of your older cards past 5k, that would help.  Don't think there is easy way for them to determine when a tradeline got a CL increase.


Ya, she told me Sapphire "is their premium card and starts at $5k" - this was after I explained that while I just opened accounts, I'd be happy if they started me at $2k.  I was so embarassed.  Smiley Embarassed

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

Re: Experience with $5,000+ CL cards

None of the cards in your sig are reporting yet right? New or not, they would have helped your cause(especially the Discover) 

 

Since you do have the Freedom now, you may want to try recon one more time, seeing if you could get approved for the Sapphire by moving some 2-3K of your Freedom limit over. It might be that the total exposure limit (amount you can have between all cards combined) is under 10K for right now.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Experience with $5,000+ CL cards

Wait 6 months and go for it, the 5k+ TL's will have some age then.



EQ FICO 548 3/3/16
Frequent Contributor
Posts: 415
Registered: ‎04-02-2012
0

Re: Experience with $5,000+ CL cards

No none of them are reporting yet as I just apped them.  I thought about decreasing my Freedom line for the Sapphire line when I was reconning, but decided to just hold off and that.  Beggars can't be choosers right?

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Experience with $5,000+ CL cards

It's always worth a shot if you really want the Sapphire now, but is wait until they all report then revisit it.



EQ FICO 548 3/3/16
Frequent Contributor
Posts: 415
Registered: ‎04-02-2012
0

Re: Experience with $5,000+ CL cards

I'm just going to garden for 6 mnths and reapp.  No worries.

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Established Contributor
Posts: 731
Registered: ‎02-15-2012
0

Re: Experience with $5,000+ CL cards


Razeus wrote:

I'm just going to garden for 6 mnths and reapp.  No worries.


I think that's your best course of action.  I would also recommend giving your Freedom some decent usage during this six months and always pay in full.  I think this will help you get another $5K line from Chase without having to move over any of your Freedom line.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Valued Contributor
Posts: 2,361
Registered: ‎09-16-2011
0

Re: Experience with $5,000+ CL cards


LS2982 wrote:
Wait 6 months and go for it, the 5k+ TL's will have some age then.

+1

 

they just want to make sure you don't go crazy its a lot harder to pay off/down a $5k  than a $2k card. 

 

 

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak/Freeom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5.5k Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 7k, Discover IT 15.5k and a nice stack of store cards.
Last APP/HP 9/5/2016

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.