Help Me Understand how to get more credit limit than 2K

[rebuildmeSC]

Ok i just started getting approvals 6 months with Discover, limit is at 1700. Amex 2K cap1 500 another discover 500. Need more. i would like all to be around 10,000. only building credit for 2years with a cap one. now i have all these cards but want higher limits already called they want more history of payments. no baddies no anything. HELP please 

[pizzadude]

Moving to credit cards forum

[coldnmn]

Credit is a journey not a race. It takes time and real good payment history to get that kind of limit.

[Odiseous]

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@rebuildmeSC wrote:

Ok i just started getting approvals 6 months with Discover, limit is at 1700. Amex 2K cap1 500 another discover 500. Need more. i would like all to be around 10,000. only building credit for 2years with a cap one. now i have all these cards but want higher limits already called they want more history of payments. no baddies no anything. HELP please 

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AmEx will help a lot with that, taking into account that they may counter-offer your CLI requests.

@Anonymous for CLI from 2k -> 6k using the 3x @ 61day rule. Then move to the 3x @ 6months rule, to go from 6k -> 18k.

Note: for me, they countered with a little under 11k.

Once your AmEx is where you want it (and reporting your new CL), start asking for CLIs with your other lenders.

Once my AmEx reported the 10K+ CL, BofA had no problem bumping me from 2k -> 10k.

[rebuildmeSC]

THANK YOU, but can you explain to me again im not getting you. At 61 days ask for a 3K increase?? Then another 3months after aks for a 6K increase? Thanks 

[09Lexie]

After 60 days ask for your CLI, if approved you aren't eligible for another CLI for 6 mos.

http://ficoforums.myfico.com/t5/Credit-Cards/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

[TheConductor]

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@coldnmn wrote:

Credit is a journey not a race. It takes time and real good payment history to get that kind of limit.

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Engrave this in your mind first.  Time is the greatest  asset to any credit journey.

Follow that link Lexie gave and request the CLIs from Amex according to the recommended schedule.  Other lenders will follow suit, sometimes without your even asking for a limit increase.

And above all, keep your payment history clean as a whistle.  Set up auto-pay wherever you can.  Use a service like Mint.com or Manilla.com to track the bills you can't automate.

Time and regular payments is all you need.  Good luck!

[enharu]

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@rebuildmeSC wrote:

Ok i just started getting approvals 6 months with Discover, limit is at 1700. Amex 2K cap1 500 another discover 500. Need more. i would like all to be around 10,000. only building credit for 2years with a cap one. now i have all these cards but want higher limits already called they want more history of payments. no baddies no anything. HELP please 

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what is your income?

There are four ways to go around getting high limits that I can think of.

1. High income. Obviously, the higher the better. 

2. Solid credit history. Maintain a good credit history for years and decades, and lenders will be more generous with you over time. This seems to be the route for most people.

3. Investing lots of assets with that particular bank. By being a private bank, HNW or UHNW client, that bank generally would be able to get you a credit card of some form.               

4. Putting in a large deposit for a secured card. Not exactly a real credit card since you're technically spending your money, but a high credit limit nevertheless.

[toppers555]

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@coldnmn wrote:

Credit is a journey not a race. It takes time and real good payment history to get that kind of limit.

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this.

You will appeaciate it more once you get to that position as well.  Not saying you are but if you "need" these limits I hope you are not living off cc debt.  With time the limits will come.  I had a FP 500 cc ,and 3k secured capitol one card when I first joined . and well know lets just say I have 3 card's with 5 figure digits, and those are not my only cards, and my income is nothing out of the ordinary.

[rebuildmeSC]

Thank you all for the quick response! Great info on here. I make about 80K and looking to secure about a 20K card from amex and a 10-15K on Discover, and lower APR. Also it would be nice to start using the card to benefit me finacially. Thanks