I'm not entirely sure what you mean by "grow" each card. If you're talking about the card aging to help your credit score, then there's really not anything for you to control other than your patience. If you're talking about getting auto CLIs, then you can search these forums for the rules of thumb for each bank when it comes to CLIs.
A generic way that usually ends in them giving you a CLI without asking for one is if you max out (or come close to maxing out) your card and then pay off the balance within a day or two of the balance posting. Caution: only do this if you can afford to. This makes the banks think you need more credit and can be responsible with it.
Other than that, just show regular usage and you'll be in their good books in no time.
My advice isn't card specific. PIF, PIF, PIF every month.
Barclays isn't known for being generous with CLIs. As your scores rise and payment history grows, Discover and the rest will begin to give CLIs.
The CLI super stars in my wallet are Amex, USAA, BofA, Citi, Capital One and Synchrony bank backed CCs.
Unless your utilization is over 30% . Don't be afraid to let balances report. Just PIF by due date.
Cap1 likes to see usage, NFCU likes to see a good payment history, Discover is all over the place right now and the other 2 I'm not sure about.
@CorporalAv wrote:Hey guys, looking for some feedback here. I just entered the garden with some new cards. I recently just picked up the Barclaycard (Apple) and Discover IT card. I would like to know what is the best way to grow each card in my wallet with respect to receiving CLI's. I plan on keeping balances low and PIF if possible.
I recognize some issuers have pain points with spending habits as well for CLI's? So any tips for each specific bank would be appreciated. I understand some folks may have some institutional knowledge with each bank below that can provide some good insight.
I listed my current CL for each card. Thanks in advance, cheers!
Capital One Platinum $1,100
Capital One QS $1,100
NFCU Cash Back $1,000
USAA Platinum $1,000 (Card cannot recieve CLI)
Discover IT $1,600
Barclaycard - Apple $2,000
Both of those banks have been kind of weird lately, but here are my personal theories about how to maximize your credit limit growth.
Barclays
Best bet is to use the card regularly for purchases, staying in a range of 5% to 25% of the limit, and to pay in full every month, even before the statement cuts. And don't take advantage of balance transfers or cash advances. Never request a CLI online because it's always a hard pull.
Discover
There are numerous theories about Discover. (I have posited that its CLI's are determined in a roomful of monkeys with access to keyboards). But in my opinion the best method is to use the card for purchases each month, but only a little bit, like 5% - 10% or less. And again, don't take advantage of balance transfers or cash advances. Every once in a while you can ask for a CLI online, it's always soft pull.
@CorporalAv wrote:
@SouthJamaica wrote:
@CorporalAv wrote:Hey guys, looking for some feedback here. I just entered the garden with some new cards. I recently just picked up the Barclaycard (Apple) and Discover IT card. I would like to know what is the best way to grow each card in my wallet with respect to receiving CLI's. I plan on keeping balances low and PIF if possible.
I recognize some issuers have pain points with spending habits as well for CLI's? So any tips for each specific bank would be appreciated. I understand some folks may have some institutional knowledge with each bank below that can provide some good insight.
I listed my current CL for each card. Thanks in advance, cheers!
Capital One Platinum $1,100
Capital One QS $1,100
NFCU Cash Back $1,000
USAA Platinum $1,000 (Card cannot recieve CLI)
Discover IT $1,600
Barclaycard - Apple $2,000
Both of those banks have been kind of weird lately, but here are my personal theories about how to maximize your credit limit growth.
Barclays
Best bet is to use the card regularly for purchases, staying in a range of 5% to 25% of the limit, and to pay in full every month, even before the statement cuts. And don't take advantage of balance transfers or cash advances. Never request a CLI online because it's always a hard pull.
Discover
There are numerous theories about Discover. (I have posited that its CLI's are determined in a roomful of monkeys with access to keyboards). But in my opinion the best method is to use the card for purchases each month, but only a little bit, like 5% - 10% or less. And again, don't take advantage of balance transfers or cash advances. Every once in a while you can ask for a CLI online, it's always soft pull.
Thanks, I really like my Discover card with the cashback match for the first year. I was looking to use it for all my purchases and PIF monthly, should I not do this? If that is the case, then I will use the Barclay card for all my purchases instead and keep your suggested 5-10% utilization on my Disco.
That's what I did with my Discover IT CC. And because I was under a 0% promo, I didn't mind leaving a balance on my account, even when I was over 50%. This didn't stop them from giving me CLIs and my CL went from $3,500 to $35,000 in just under a year. But as always, YMMV.
