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NEED CREDIT HELP.

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novimom
New Member

NEED CREDIT HELP.

I have been working on my credit for about 18 months, when  I started I had a fico score of 600. I opened a three thousand dollar secure mastercard, then a capital one card for  $750. I am also an authorized users on two capital one card one is $2500 the other one is $3500, two student loans totaling about thirty five thousand dollar. I got a car loan for $19,000 Feb. of 2012 I paid it off five months later. I later open up two cards with limits of $500 each. And two GE money bank cards for$3000 each (never used) I started receive offers in the mail on from cards I really wanted amax gold , amax blue cash, Citi Diamond card and bank of Omaha. I applied and got them all on the citi for $2500 , the amax gold and the amax blue for $2500, the bank of Omaha for $4000. I was told my amax I can call after 60 days to request an increase. I have never been late. I need higher limits on my cards because of my business. My when I checked my fako score was 680 but amax said my fico was 711. I know my score took a hit from applying for the cards all in one day. What is the best way to get lenders to give me higher limits. I might need a loan for business reason in march.  I am never late on any payments and often pays the balance in full  monthly. My income is about 85k and my husband's 82k.  as of to day my fako score is 699 not sure of my fico today.  P.S. I told my sister to remove me  as an authorized user. Should I close credit cards that have limits under $1000.  I know it's a lot to take in but I could really use some help.    Thank in advance!

Message 1 of 8
7 REPLIES 7
_jb_
Frequent Contributor

Re: NEED CREDIT HELP.

I am by no means an expert, but I would say do not cancel/close any of your cards, regardless of what the credit limit is, and if your sister's card that you are an AU on has a decent/long credit history, stay as an AU on there as well. As for CLI, check around here on site to find out if your current CC companies use a SP or HP to determine if you are eligible, and then call them or go online and give it a shot if they are SP.

 

Welcome to the best thing to ever happen to credit seekers!



Starting Scores: myFICO EQ: 678, myFICO TU: 676, myFICO EX: 678 (01/2013)
Latest Scores: myFICO EQ: 789, myFICO TU: 782, myFICO EX: 788
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Gardening since 02/07/17
Message 2 of 8
beb86
Valued Contributor

Re: NEED CREDIT HELP.


@novimom wrote:

I have been working on my credit for about 18 months, when  I started I had a fico score of 600. I opened a three thousand dollar secure mastercard, then a capital one card for  $750. I am also an authorized users on two capital one card one is $2500 the other one is $3500, two student loans totaling about thirty five thousand dollar. I got a car loan for $19,000 Feb. of 2012 I paid it off five months later. I later open up two cards with limits of $500 each. And two GE money bank cards for$3000 each (never used) I started receive offers in the mail on from cards I really wanted amax gold , amax blue cash, Citi Diamond card and bank of Omaha. I applied and got them all on the citi for $2500 , the amax gold and the amax blue for $2500, the bank of Omaha for $4000. I was told my amax I can call after 60 days to request an increase. I have never been late. I need higher limits on my cards because of my business. My when I checked my fako score was 680 but amax said my fico was 711. I know my score took a hit from applying for the cards all in one day. What is the best way to get lenders to give me higher limits. I might need a loan for business reason in march.  I am never late on any payments and often pays the balance in full  monthly. My income is about 85k and my husband's 82k.  as of to day my fako score is 699 not sure of my fico today.  P.S. I told my sister to remove me  as an authorized user. Should I close credit cards that have limits under $1000.  I know it's a lot to take in but I could really use some help.    Thank in advance!


Welcome to the forums!!!! After 61 days you can request up to 3x your limit with AMEX........as far as you being an AU I would only keep that if that card has clean history and low low UTIL.....as far as closing cards the will still report positive history for 10 years from the date closed.....the closed accts will have an affect on your open UTIL. 

 

p.s. can we get a mod to move this in the CC forum please and thank you!!

Message 3 of 8
novimom
New Member

Re: NEED CREDIT HELP.

Thank you for your help, I keep less then ten percent balance on each card most of the time.

Message 4 of 8
Imua
Frequent Contributor

Re: NEED CREDIT HELP.

you said you need  higher limits on your cards because of your business

 

have you thought of opening a business cc?

chase has the ink business card, amex has a business card, not sure of any others.

Message 5 of 8
SpiceIslander
Frequent Contributor

Re: NEED CREDIT HELP.


@Imua wrote:

you said you need  higher limits on your cards because of your business

 

have you thought of opening a business cc?

chase has the ink business card, amex has a business card, not sure of any others.


Agree! Credit card companies tend to frown upon the personal cards being used for business purposes. Best of luck!

Meg.

FICO: 4/2016 - TU 841 | EQ 840 | EX 837

FNBO 23,600 | Amex SPG 13,900 | Amex BCP 13,400 | Barclays/Sallie Mae13,000 | Discover IT 12,500 | Lowes 10,000 | PLOC 9,300 | NASA FCU 8,700 | Citi Simplicity 6,200 | BOA Platinum+ 6,000 | Achieva CU 5,500 | Chase CSP 5,000 | Sam's Club 3,000 | Sears 900
Message 6 of 8
ceemee2203
Regular Contributor

Re: NEED CREDIT HELP.

AMEX has great buisness cards for small buisnesses. My current company relies on them (less than 100 people) and so does my previous company (less than 15 people). 

Current Cards: AMEX Everyday ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 7 of 8
novimom
New Member

TRe: NEED CREDIT HELP.

Thank you all!

Message 8 of 8
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