11-20-2013 07:26 PM
To High when looking for large limits Pay down first
apply for the Duck or Beaver Card... hope you get approved for $15k and BT all this debt to 1 place to bring that util WAY DOWN!
11-20-2013 07:30 PM
11-20-2013 07:33 PM
oregon duck card or beaver card... if you google you will find link....
it's a credit union that offers these 2 cards to people outside of oregon and you don't need to joint the credit union and MANY have been applying for last 2 or so weeks on board and getting approvals for $15, $20, and $25k pretty simply.
My partner just got approved for $15k tue.
11-20-2013 09:35 PM
11-21-2013 12:50 AM
11-21-2013 03:35 AM
65% utilization is way to high, I would recommend your friend pay down his credit cards to at least 10% . IMO, banks might think giving higher limits with that much util is risky.
11-21-2013 06:55 AM - edited 11-21-2013 06:58 AM
Credit score alone will not grant an approval. With your current util, be prepared for 1. Denial 2. low CL or 3. high APR.
^ This. It's never about just one single factor such as score. There are no simple and direct relationships such as "X score = Y credit limit".
I'm essentiially repeating what Lexie's saying but it can't be emphasized enough. One can certainly get approvals with high utilization but the terms will not be favorable. With high utilization Chase would only approve me for a Slate with a $2K limit and the highest APR in the bracket. Once I dropped my utilization (no other changes aside from ~6 months time) I was able to get cards from Chase with $25K limits and my APR's were at the bottoms of the brackets. Not saying your friend's credit and situation could support these limits and APR's but just providing that as an example of how limiting high utilization can be.
11-21-2013 07:07 AM
My friend has a 715 score And is looking for the highest limit card he can get for the score... Any ideas?
They say util has no history. Imagine you can get a short-term loan to zero your cards. Your score is likely to increase considerably. You apply and get approved for some nice cards; one may come with 0% APR for a year. As months go by, you charge everyday stuff on this card and pay off your loan during the first half year, then focus on bringing down the card the second half year. Some discipline is needed of course.
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