For those with 6+ Credit Cards how do you obtain more credit?

[B335is]

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@gen-specific wrote:

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@FinStar wrote:

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@B335is wrote:

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@CreditGuy03 wrote:

I have 

Barclays Carnival Mastercard $2000 - opened 2009

Capital One Quicksilver $1500 - opened 2009

Capital One Spark Visa Business $1000 - opened 2011

Target Redcard $350 - 2014

Home Depot $500 - 2009

My scores are around 680-690 range and I make about 75k a year. 

Whenever I try to apply for another card either with my credit union or Barclays, Amex, Chase they always tell me I have too much credit and deny. 

I had to beg and plead with the Underwriters just to get a CLI on my Barclays Carnival.

For those with More than 6+ Cards and more credit lines than me how do you do it?

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Credit Unions are almost always going to think you have too much credit especially if it's new.

1)  Clean credit reports (no negatives whatsoever).

2)  Keep utilization reasonable (under 10%).

3)  Apply with different lenders (BMO, GE, Comenity, Commerce, BoA, Citi, WF, Cap1, US Bank, Nasa, etc....).

4)  Use Amex backdating to your advantage.  I've applied for a few of their cards strictly for that purpose to cushion my AAoA.

With multiple cards from the same bank, know your limits and try to find out what your max exposure is.  I've had this discussion with Chase, Citi and Boa and they don't usually give you an exact amount, but can say "you're reaching your maximum credit exposure with us."  Also it has been helpful to space apps with the same lender out by 6 months each.

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I would agree.  And, while everyone's approach and goals may differ, the above has worked for me.  Items 1) and 2) are definitely key drivers.

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what is AMEX backdating?

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In a nutshell all subsequent Amex cards I apply for have a listed "open date" on my credit reports of 1998 - the date Amex considers me a member (MSD).  So every 6 months or so, I try to add an additional Amex card that is backdated for 16+ years and counting and it increases my AAoA by about 10 months.  I'm closing PRG and possibly BCE in a day or so and will apply for something else in January 2015.

[HiLine]

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@CreditGuy03 wrote:

I have 

Barclays Carnival Mastercard $2000 - opened 2009

Capital One Quicksilver $1500 - opened 2009

Capital One Spark Visa Business $1000 - opened 2011

Target Redcard $350 - 2014

Home Depot $500 - 2009

My scores are around 680-690 range and I make about 75k a year. 

Whenever I try to apply for another card either with my credit union or Barclays, Amex, Chase they always tell me I have too much credit and deny. 

I had to beg and plead with the Underwriters just to get a CLI on my Barclays Carnival.

For those with More than 6+ Cards and more credit lines than me how do you do it?

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What they probably mean is, you have too much credit for someone with negative items on credit reports. Don't worry about it. Income is not your issue, either. If I were you, I would focus my spending on one card or two and ask for a credit limit increase after a few months. Once your credit limits reach a certain level, it should become much easier to get even more credit.

[Anonymous]

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@HiLine wrote:

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@CreditGuy03 wrote:

I have 

Barclays Carnival Mastercard $2000 - opened 2009

Capital One Quicksilver $1500 - opened 2009

Capital One Spark Visa Business $1000 - opened 2011

Target Redcard $350 - 2014

Home Depot $500 - 2009

My scores are around 680-690 range and I make about 75k a year. 

Whenever I try to apply for another card either with my credit union or Barclays, Amex, Chase they always tell me I have too much credit and deny. 

I had to beg and plead with the Underwriters just to get a CLI on my Barclays Carnival.

For those with More than 6+ Cards and more credit lines than me how do you do it?

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What they probably mean is, you have too much credit for someone with negative items on credit reports. Don't worry about it. Income is not your issue, either. If I were you, I would focus my spending on one card or two and ask for a credit limit increase after a few months. Once your credit limits reach a certain level, it should become much easier to get even more credit.

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If he has too much for someone with negative items on their credit, then i'm WAY over the line.

And to think, my name isn't even smokey.

[AndySoCal]

What are yourFICO score reasons ?

[Jerry45]

Home Depot and Target seem to be stingy, do they give out CLI's. Walmart is much more generous with credit limit jumps. You have had that Quicksilver a long time, have you talked to Cap one on the phone?

[Kenny]

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@Jerry45 wrote:

Home Depot and Target seem to be stingy, do they give out CLI's. Walmart is much more generous with credit limit jumps. You have had that Quicksilver a long time, have you talked to Cap one on the phone?

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Home Depot can be quite generous with CLIs. It will be a HP but you can jump verrrrrry high than where you were before... say you were at like 3k.. you can ask for 20k and get it! lol (Obviously, depends on your profile to an extent, but they are lenient.)

Target's not generous at all. lol
 

[Anonymous]

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@Kenny wrote:

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@Jerry45 wrote:

Home Depot and Target seem to be stingy, do they give out CLI's. Walmart is much more generous with credit limit jumps. You have had that Quicksilver a long time, have you talked to Cap one on the phone?

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Home Depot can be quite generous with CLIs. It will be a HP but you can jump verrrrrry high than where you were before... say you were at like 3k.. you can ask for 20k and get it! lol (Obviously, depends on your profile to an extent, but they are lenient.)

Target's not generous at all. lol
 

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They're the grinch of store cards.

[Imperfectfuture]

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@Anonymous wrote:

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@Kenny wrote:

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@Jerry45 wrote:

Home Depot and Target seem to be stingy, do they give out CLI's. Walmart is much more generous with credit limit jumps. You have had that Quicksilver a long time, have you talked to Cap one on the phone?

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Home Depot can be quite generous with CLIs. It will be a HP but you can jump verrrrrry high than where you were before... say you were at like 3k.. you can ask for 20k and get it! lol (Obviously, depends on your profile to an extent, but they are lenient.)

Target's not generous at all. lol
 

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They're the grinch of store cards.

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Yep, don't know how long they've been with TD, but I had them around 1999 til bk in2001, and they were tight back then.

[takeshi74]

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@CreditGuy03 wrote:

For those with More than 6+ Cards and more credit lines than me how do you do it?

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It's a matter of one's income and the usual factors:

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

If you have dergos then get them addressed as they will likely kill your Payment History which is the biggest slice above.

If your utilization isn't in check then get it under control as it's the next biggest factor (Amounts Owed).

All the rest just takes time and responsbile usage to build.

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@HiLine wrote:

What they probably mean is, you have too much credit for someone with negative items on credit reports.

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^ This.  It's the OP's credit that makes them leery about extending more credit.