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Regular Contributor
Denny33142
Posts: 179
Registered: ‎07-12-2011
0

Getting Past the $500 Barrier

I am very proud of what i have achieved in the past 2 years and in no small part due to this forum, i feel like i have gotten some very nice cards however it has been bugging me that i have not been able to get any with a CL over $500, this is frustrating because i always have to check to make sure i don't go over the limit and also because my limits are so low i always have a high Ulitization.

 

My Cards:

 

Amex Zync: $500 Limit (I was thinking of closing this card but decided to just keep it open for now).

Chase Freedom: $500 Limit (Just got this one a month ago)

Capital One Cash Rewards: $500 Limit (I have had this one for about 3 months)

Capital One Secured Platinum $250 Limit (Have had this one for 2 years, my oldest card).

Public Savings Bank Secured $200 Limit (Will be closing this before AF Hits).

 

What do you guys think i should do? The only idea i have had so far is maybe calling Cap One Exec Office and asking for a CLI on the Cash Rewards.

Regular Contributor
luckelle
Posts: 168
Registered: ‎12-05-2007
0

Re: Getting Past the $500 Barrier

seems that half your cards are under 6 months old. if so. I suggest garden my credit friend a few more months. From what I have come to understand is when one of the 500 cards get its CLI the rest will soon follow. Closing a card this soon may styful your forward progress. Patients and gardening ( yes i know hard to hear) is what i suggest. Good luck in the near future!

Starting Score: 5/2012 TU 595, EQ 565, EX fako 547
Current Score:as of 9/2012, TU 626,Walmart 612, EQ 600, EX fako 623
Goal Score: 640 by dec 2013
BofA Au 13000, Amazon 600, Capt1 300, Walmart 150
When all else fails pay it!


Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Getting Past the $500 Barrier


Denny33142 wrote:

I am very proud of what i have achieved in the past 2 years and in no small part due to this forum, i feel like i have gotten some very nice cards however it has been bugging me that i have not been able to get any with a CL over $500, this is frustrating because i always have to check to make sure i don't go over the limit and also because my limits are so low i always have a high Ulitization.

 

My Cards:

 

Amex Zync: $500 Limit (I was thinking of closing this card but decided to just keep it open for now).

Chase Freedom: $500 Limit (Just got this one a month ago)

Capital One Cash Rewards: $500 Limit (I have had this one for about 3 months)

Capital One Secured Platinum $250 Limit (Have had this one for 2 years, my oldest card).

Public Savings Bank Secured $200 Limit (Will be closing this before AF Hits).

 

What do you guys think i should do? The only idea i have had so far is maybe calling Cap One Exec Office and asking for a CLI on the Cash Rewards.


if you have anyone in the military in the your family or if you can scrounge up a military roommate join navy federal, they'll cure your low limit woes :smileywink:  also you got secured cards just feed it more imo =)    and you could just keep paying the cards multiple times a month to keep utility down.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
firstladyd
Posts: 143
Registered: ‎05-23-2011
0

Re: Getting Past the $500 Barrier

Have you tried Discover? They gave me $5500 cl recently. At the time $5500 was the total cl of all my accounts combined. My actual CC was a $300 cap1 all the rest were store cards and I was @ about 35% utilization. I appd for the more card.

Starting Score: 585
Current Score: TU 734 Walmart EQ 704 FICO EX 721
Goal Score: 750 Across the board


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Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Getting Past the $500 Barrier


luckelle wrote:

seems that half your cards are under 6 months old. if so. I suggest garden my credit friend a few more months. From what I have come to understand is when one of the 500 cards get its CLI the rest will soon follow. Closing a card this soon may styful your forward progress. Patients and gardening ( yes i know hard to hear) is what i suggest. Good luck in the near future!


+1. You really need to garden since those inqs and new accounts are impacting your scores. I can't see you getting much higher currently until you increase your AAoA and let those inqs fall off.

 

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Regular Contributor
SportBike4Life
Posts: 123
Registered: ‎07-22-2012
0

Re: Getting Past the $500 Barrier


luckelle wrote:

seems that half your cards are under 6 months old. if so. I suggest garden my credit friend a few more months. From what I have come to understand is when one of the 500 cards get its CLI the rest will soon follow. Closing a card this soon may styful your forward progress. Patients and gardening ( yes i know hard to hear) is what i suggest. Good luck in the near future!


I second this advice! =)

Jun 2012 FICO® ~ 734 EQ
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA

Goal for 2014 ~760+

Trying to stay in the garden...but also trying to get as many apps as possible for now :smileywink:
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: Getting Past the $500 Barrier

+1

Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008
0

Re: Getting Past the $500 Barrier

[ Edited ]

Do not call the executive office for a 3 month old account.  Most lenders don't even think about CLIs until you have 6 months of soild history with them.  Capital One for sure will probably knock you down.  This would be considered abuse of the executive office in my book.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13
Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
0

Re: Getting Past the $500 Barrier

I think so far you are in the right place but haven't had credit long so once you establish 6mo to a year of positive history with the accounts you have you should see growth l
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Established Contributor
YahComb
Posts: 599
Registered: ‎03-10-2012
0

Re: Getting Past the $500 Barrier

right now the chase and the cap one cash rewards are the only cards that might Grow with you. You should try that exec office for cap1, but they have turned down a few people so YMMV still.

 

Also, is money very tight, because you've had the capital one secured for two years, and the lowest CL they give for that is $200. That would have been a good way to juice your limits over the last couple of years, adding a $100-200 deposit every few months.

 

IF possible perhaps try getting that up to 1K, or even the max 3K if you can afford it. then maybe try to get a cli with chase around the 6 month mark.

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

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