High limit for existing CC or new CC??

[Anonymous]

Hi , I have total credit limit of 30k and planning to increase my portfolio to another 20k so that i can use for any emergency purposes (balance transfers) would you gusy suggest if i apply for new CC rather than asking existing CC companies to increase the limit (not looking for any 0% APR offers) ??

Current CC - DCU , Chase Freedom ,BOFA total of 30k 

[austinguy907]

Just taking a stab in the dark but, the biggest bang for your buck would be AMEX for its quick growth potential and a good emergency spender would  be Discover.

AMEX - you can go for 3X your CL every 6 months

Disco - starts low but builds with time and you get double rewards when the 1st year is up

I started with AMEX at 10K and in less than a year ballooned it to $50K very easily.

I started with Disco at $4500 and slowly grew it to $48K in a little over a year as well.

Happy hunting!

[NRB525]

Welcome. 

Given that hat it is $30k on 3 cards, that may mean you should look at an additional card. 

There re may be possibilities to raise existing limits, though with both Chase and BofA my understanding is those use a HP for user requested CLI. 

[Anonymous]

Thanks for reply .!  but , sorry i couldnt get what do ypu mean by "Use HP" ? 

[Anonymous]

it's a hard pull if you request a cli

[austinguy907]

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@Anonymous wrote:

Thanks for reply .!  but , sorry i couldnt get what do ypu mean by "Use HP" ? 

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Some lenders will HP your reports when you request a CLI.  

HP will deduct points from your scores for 6-12 months and other lenders can see them.  

If it's a SP then no one see it besides you when you pull a full report to view your inquiries.