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I recently applied for and was approved for a Chase Freedom card, but only with a limit of $500. Should I have, or should I still, try to get a Walmart card to see if I can get approved for a higher limit card? One of the negatives on my report says "Credit Cards with limits under $2000. I was also approved for an AMEX Zync NPSL recently. I was looking to retire my old low limit Capital One card, but with only a $500 on my Chase that Capital One card might be around for a little bit longer.
if its really recent id call the recon line and ask for a cli
and say something like i want to put all my transactions through this card
did you consider that you will still get a low limit?
im not being pessimistic but you know.
walmart will grow with you.
im not sure how chase does cli but i heard it was always hard pull(unless reconing in the beginning) which is a bummer since i also have a 500 limit
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
@Calbuc wrote:I recently applied for and was approved for a Chase Freedom card, but only with a limit of $500. Should I have, or should I still, try to get a Walmart card to see if I can get approved for a higher limit card? One of the negatives on my report says "Credit Cards with limits under $2000. I was also approved for an AMEX Zync NPSL recently. I was looking to retire my old low limit Capital One card, but with only a $500 on my Chase that Capital One card might be around for a little bit longer.
How long have you had your Cap One? Do you have any baddies on your CR? There is some reason why Chase only gave you $500 besides the fact that your Cap One has a low limit.
The first thing I'd do is work on whatever changes you need to make to improve your CR. If everything on your CR is fine, then I would garden your Cap One and Chase. I wouldn't get anything else right now. Then take a look at your FICO in 6 months, and you should be much better off to get a higher CL CC and/or CLI Chase.
I have two satisfied judgments from 2006 and 2007. And five 30 days late on student loans from 2006 - 2008. Not my most responsible years. Last 4+ years have been spotless though. I've had my Capital One card for two years.
@Calbuc wrote:I recently applied for and was approved for a Chase Freedom card, but only with a limit of $500. Should I have, or should I still, try to get a Walmart card to see if I can get approved for a higher limit card? One of the negatives on my report says "Credit Cards with limits under $2000. I was also approved for an AMEX Zync NPSL recently. I was looking to retire my old low limit Capital One card, but with only a $500 on my Chase that Capital One card might be around for a little bit longer.
If you apply for a Walmart card don't expect a high limit, its okay GE is reallly friendly wih CLI's usually every 4 months, you may get a small one at first but then you may get a larger one. In 9 months I went from a $900 starting limit to $1700 it just takes time, usage and payments.