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HELP WITH MY LOW CREDIT CARD LIMITS............................

New Contributor

HELP WITH MY LOW CREDIT CARD LIMITS............................

Im trying to get credit cards with larger limits $10,000 and above with no luck. My scores and income are good- Income over $200,000 per year verifiable -Experian 741 - 17 inquiries,Equifax 753- 6 inquiries  ,Transunion 723- 6 inquiries. All these are Fico scores. The problem is that my credit limits are small on the credit cards that I have. And the new ones that Im applying for are the same. BOA $500.00 secured (have over 3 years) ,Bloomingdales $1,200 (have over 3 years), Bay Ridge Federal Credit Union $5,000 (have over 3 years),Cap One platinum mastercard $750.00 (have over 3 years), Discover it $1,000 (have 3 months), Citi Hilton $5,600 (have 3 months),Jc Penny $2,100 (have over 3 years), Macys $800.00 (have over 3 years), Paypal Mastercard $5,000 (have over 3 years), Capital One Venture One $3,000 ( just got approval today), American Express  Platinum,Premier Rewards Gold & Green are charge cards with NPSL- ( have 3 months).  I carry NO BALLANCES on any of my credit cards & Ive paid well over $6000 per month on my Amex's combined. I also have 2 car leases in my name $385.00 (have 6 months) $599.00 (have 2 months). What can I do to get some cards with higher limits??? Any and all advice and or comments would be appreciated. Thanks.....  

Message 1 of 33
32 REPLIES
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Valued Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

GARDEN! http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-September-2013/td-p/2414661

Too much activity in a short time frame. Over time your creditors will learn to trust you with larger limits. You can request CLIs and see where it gets you. New cards very rarely give you a limit higher than what you have on other cards, so you need one of your existing cards higher. You're getting there, but slow and steady wins the race!

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 2 of 33
Super Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................


SnackTrader wrote:
GARDEN! http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-September-2013/td-p/2414661

Too much activity in a short time frame. Over time your creditors will learn to trust you with larger limits. You can request CLIs and see where it gets you. New cards very rarely give you a limit higher than what you have on other cards, so you need one of your existing cards higher. You're getting there, but slow and steady wins the race!

+1 time to age those INQ's, AAoA, scores you also have some cards that I wonder why they haven't grown in 3 years.

Any baddies?

BofA secured 3 yrs and no graduation?

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 33
New Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

Thanks Snacktrader thats what I figured give it some time

Message 4 of 33
New Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

 myjourney there is nothing negative on my credit no late pays, slow pays ,charge offs, judgments NOTHING........ The only card I was not able to get a CLI on was the Cap One platinum mastercard. Everytime I apply for an increase I get a letter stating that the card is not eligible for increases....

Message 5 of 33
Super Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................


naptime wrote:

 myjourney there is nothing negative on my credit no late pays, slow pays ,charge offs, judgments NOTHING........ The only card I was not able to get a CLI on was the Cap One platinum mastercard. Everytime I apply for an increase I get a letter stating that the card is not eligible for increases....


Have you tried the EO route and have you asked BofA to graduate the secured?

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 33
New Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

I havent asked BOA to upgrade the secured card. I figured to many Inq and to much new credit now. What does "EO" mean?

Message 7 of 33
Valued Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

For what it is worth, Discover has shown lots of auto-luv on these forums in the past year and Capital One recently added a luv button to their website. So, you definitely have some cards that can grow, and its just a matter of time before they will grow. Listen, you make over 3 times what I make, but my limits are higher for a few reasons that you can EASILY replicate with a little time.

1) No baddies - let any that you do have age, and like I said, trust will come along with that
2) Space between applications - my first CC was 6 months before my next 3, then I waited another 5 months for my next. I'm approaching 4 months since my last application now and my EX has 5 INQs, the other bureaus have 2 and 1. Clearly I am not engaging in credit-seeking behavior (which is a big red flag).
3) I practice responsible spending, including PIF and reporting low utilization. This is especially key when applying for new cards.

Take a few months and enjoy the excellent cards that you have obtained. Sure, the limits are small, but you can earn a ton of rewards from those limits. Use the time to plan strategically how you will grow your limits. Best of luck!

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 8 of 33
Super Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................


naptime wrote:

I havent asked BOA to upgrade the secured card. I figured to many Inq and to much new credit now. What does "EO" mean?


EO = executive office of CAP1

And I will be sending you the info shortly PM.....give it a couple of months to let scores rebound tho

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 33
New Contributor

Re: HELP WITH MY LOW CREDIT CARD LIMITS............................

myjourney Thanks 

Message 10 of 33