enharu & Mj will say this: "credit is not a race, but a journey".
If all your accounts are fairly new (less than 6months), then put good usage on all your cards, maintain 1-9% Util, after 6months to a year ask for CLIs. Be ready to take HPs from lenders (don't know which cards you have). Most lenders would like to see history w/ them, so age them well. Also, work on any baddies, if you have any.
Well... I'll tell you what one of Chase's back door reps told me when I spoke to them about applying for a CSP, their $5k mininum CL card, as someone with "no experience with high limit trade lines":
1. At least six months of history, 1 year preferable.
2. No baddies.
3. Low utility.
4. Inquiries aren't too much of a concern provided they're not in the double digits.
5. AAoA doesn't need to be stellar, but of course, the longer the better.
6. Pay more than the minimums on the cards you already have. They DO actually check for this.
7. Be prepared to either slash the CL on, or close out any existing cards you may have with them.
My highest trade line is only $2500. Scores all mid-to-upper 600s. No baddies, no lates, no nothing. Lots of INQs on TU and student income of $20k, though, but she said they were willing to work something out provided I reapply with a lower util (50% at the time due to early holiday spend).
Even though this is all from Chase's perspective (and Chase is one of the more forgiving lenders when it comes to recons), the takeaway is that you have to approach a lender with as clean a report as possible. Someone will eventually give you a chance, but you have to make them feel as if you're not a $5000 charge off waiting to happen.
One way to get high CLs quickly is to open secured cards that graduate for as much money as you need CLs. I'm retired and 65 y/o so time (for a journey) isn't on my side. I needed the CLs now. Secured cards were the way I did it. At one time I had CCs with much higher limits than I have now but made the mistake of using debit cards for convenience. Doing that has the side effect of eliminating all your LOCs over time. I was, of course, unaware of that side effect at the time.
While people starting out do't often have the money for large secured cards they do have the time to build credit. For peeps like me that are retired but still need credit high limit secured cards is the way to go and many retired people have the assets to establish the needed credit.
The smart thing to do is to keep your credit files current enough that there is no need to do this and most people, unlike me in my ignorant days, are very aware of this.
I was in the same position last year. I applied for a Chase Sapphire and was denied even though I already had two cards with Chase (Amazon and Freedom). My highest card limit at the time was $1000. The Chase reps are very helpful in explaining why you got denied. The rep explained that Visa Signature cards start at $5000 and that I needed more time on my current cards and they wanted to see more of a positive payment history with their cards. This is what I did and I hope it helps.
1. I was a member of a Credit Union so I applied for their card and got a limit of $1500. I used my cards and paid them down.
2. I paid attention to the cards that I was paying an interest on, paid them down to zero, and SD them. Now I only use them enough now to keep them active but I pay them down to zero. My scores spiked up when my utilization/balances went down.
3. A few months later I applied for the Sapphire again and got it for $5000. I've since gotten cards higher than $5000.
Try getting CLIs on your current cards to get them up to $1000 or apply for a decent card that will get you a limit of at least $1000. Use it regularly and pay it down; don't carry a balance. It takes time but before you know it you will be where you want to be.
