High credit limit card

[jay_s]

Hi All

My credit score is 714/719 - juct checked this morning

I had a few missed payments in Oct 2007(1 60 day, 1 90 day and 2 30 days) across 3 accounts

After this I have not missed a single payment and paid off a car loan

My credit cards(with credit limits) are CapOne platinum for $1500, CapOne MC for $750, I mostly pay it off before statement runs

My store cards are bobs furniture $2600, sleepy's $1000 - both have 0 balance for last 8 months

I like to get a card with high credit limit (say $10k or so). I live in NJ. Pl give suggestions to apply for CUs and bank cards,

[JM-AM]

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@jay_s wrote:

Hi All

My credit score is 714/719 - juct checked this morning

I had a few missed payments in Oct 2007(1 60 day, 1 90 day and 2 30 days) across 3 accounts

After this I have not missed a single payment and paid off a car loan

My credit cards(with credit limits) are CapOne platinum for $1500, CapOne MC for $750, I mostly pay it off before statement runs

My store cards are bobs furniture $2600, sleepy's $1000 - both have 0 balance for last 8 months

I like to get a card with high credit limit (say $10k or so). I live in NJ. Pl give suggestions to apply for CUs and bank cards,

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Your late payments may play a part in credit limit. IMO I would look more into 1st applying for a credit card that is not issued by CAP ONE. You would more then likely have to gradually increase your credit profile to build up to a 10K limit.

[clocktick]

My recommendations honestly are first a credit union and then possibly Citi, Barclays and/or Amex.  With the last 3 though, it may not be right away.  They seem very good with CLIs from my own personal experience and from reading on here.  I don't know if I'd expect $10k immediately opening the card, however. 

[tntexans72]

I don't know what your AAoA is but it does play as a huge factor in determining your CL. Your Fico score alone is not enough. Having said that, I would try Amex first. Amex backdate so the sooner you get in with Amex, the better. Once your in and say you wanna app for another Amex card 5 yrs down the road, it will backdate to the original year you received your first card, therefore helping your AAoA which in turn will help boost your score. Now, I have read that Amex revolving card is hard to get, but your YMMV may vary. They will more than likely pull your EX and maybe TU if they need additional infor.

Amex may start you out with a low CL, say $2K in most case, but you can request a CLI after 60 days using the 3x your CL rule. The great thing about Amex is, any future CLI...it's a soft pull and that will not ding your score. Before you know it...I would say you can be at your $10k mark after 1yr or 2yrs depending on how you use the card and on-time payment.

There's not alot of cards right now that will start you out with a $10k CL. If your AAoA is 5+ yrs, you have sufficient income, a clean credit report than I would say you can be more selective.

Discover, Chase, BoFa are frugal but as stated, if you have a clean report, they will start you out with a generous CL and you can work your way up from there. Most/all of us have started out with a lower CL and have worked our way up to a higher CL....it takes time and these things don't happen overnight.

Good luck!