No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi Guys,
I've been away for awhile getting adjusted with my new home purchase. Now I want to increase my credit lines on my credit cards.
Right before I closed on my home April 2012 I went on an app spree and opened a few cards. Here's what I have:
Best Buy Store Card - $1800 limit, balance $1690
Chase Freedom - $600 limit, $575 balance
Discover More - $1000 limit, $960 balance
Credit One - $850 limit, $790 balance
Sears Citi Mastercard - $4000 limit, $4009 balance
I don't know what my Fico is right now but I'm guessing around 660. My questions are 1) Which credit card do I have the best chance of getting a CLI from? 2) Do I have to pay down all of the balances to have a chance at a CLI or can I pay off one of them every month?
@JGWantsAHouse wrote:Hi Guys,
I've been away for awhile getting adjusted with my new home purchase. Now I want to increase my credit lines on my credit cards.
Right before I closed on my home April 2012 I went on an app spree and opened a few cards. Here's what I have:
Best Buy Store Card - $1800 limit, balance $1690
Chase Freedom - $600 limit, $575 balance
Discover More - $1000 limit, $960 balance
Credit One - $850 limit, $790 balance
Sears Citi Mastercard - $4000 limit, $4009 balance
I don't know what my Fico is right now but I'm guessing around 660. My questions are 1) Which credit card do I have the best chance of getting a CLI from? 2) Do I have to pay down all of the balances to have a chance at a CLI or can I pay off one of them every month?
With those balances none. Esp. since yor overlimit on one card.
You need to PIF all cards except 1 with a 1-9% balance then ask for a CLI. Chase will be a HP, Discover will be a SP unless they request a HP.
Ok. Makes since. I work on paying down the cards before I try to get any CLIs. Credit One gives me $100 auto increase every few months so I'll live with that for now. I have alot of inquiries from last years apping for mortgage and ccs so I don't want to chance a hp right now anyway.
If anyone has any other tips keep posting....
Thanks!
Purchased some new items for my house, mostly with cash but as you see some with credit. Now I can redirect my cash totally to paying these cards down but I'd rather have one or two cards with a decent credit limit instead of 5 cards.
I promise I'll be a responsible borrower
Wow. Over the holidays my cards was like that but I just didn't max it out. What I did was pay off the cards that have the lowest cli. And put 500 to 1000 a month on the high cli. In two months my score jumped from 650 to 730. My Chase Sapphire was close to it's limit which is 5k. But now I have at 2.3k left and that only because I still use it on a regular. BTW I was just approved for Amex Gold Premier. Good Luck bring down your limits
I would say you can start requesting CLI's once they are under 30%.
Focus high interest to low interest.
as an employee of Best Buy, I've yet to see one person get denied a CLI, granted I work in Magnolia and the Basic Home Theater section where they will be close to maxing it and want a better Utilization.
Now, it does appear that one card overlimit could hold you back.
(My best input on the topic is on the Best Buy Card as I've very limited input on the 2nd half)
The Sears card is not over the limit anymore, thats what was reported to the Equifax last month I really should have paid more attention to my available balance. Thanks for the tip on Best Buy. I have to pay it off before Oct because my 0% expires but I'd like to get an increase incase I want to buy some goodies on Black Friday.
Glad to help.