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I have a question about what is the best way to go about getting increased limits and all of what im asking i can do equally without any issues and i also have to say if it consists of getting charged interest i could care less also.
1)Use my cards and just pay them down per month then use it again when the limits get lower? say using them to the limit.
2)Use them to almost the limit and then payoff once per month leaving $10 on each?
3)Use them almost to limit everytime and payoff as many times as i want per month? like 3-4 times in the month.
The reason im asking is do using my cards more throught the month help my chances faster to get higher limits, i have 4 cards with each having $300 limits. And please remember i dont care about the interest if needed, all i care is getting higher limits the fastest way i have the $ to pay everything anytime.
If one of them is secured and doesnt report as secured (like Cap1 card), you can increase your CL on that card and let it report with the higher limit. Once it reports you can then try to get higher CL with your other cards. Ive read that cards like to have someone else be the first one to give you increase. Also, you can try credit unions as they seem to give higher limits as well.
I have 4 cards orchard bank, credit one, first premier, and cap1(only card that is secured). All with $300 limits. I also am an authorized user on 4 of my girlfirends cards, citi diamond, mets card, royal carribean card, and amazon card.
Already started with the credit union and took out a small loan to build. I also have an average card life of 5years. Im building now but don't really know how the banks think in terms of usage and higher limits. Like i said i have the money to play around with to help me out to build to where i want to go and my girl help me with her good credit.
Im not really planning on applying until my default student loan comes out of default in 8months and i get the 2 negatives off my report and they fall off next year but im trying to get them off now at the moment.
@webhopper wrote:
I would suggest closing first premier and credit one, you don't need them. In 8 month, when your stdent loans are reporting positively, head for an amex charge card. The amex will open doors for future prime banks. Increase your deposit on cap 1 secured card to 2 k
+1 Good advice!
I would suggest try Discover now. Discover provides unsecured cards for students or people without much credit history. Of course, when you build the discover card (like the more card). Don't add any sign up bonus request (It could be up to $200, but may not be good for you).
I don't want to apply for new cards until fix everything that needs fixing. I also would prefer not to get rid of any cards at the moment until i get approved for better cards, the thing is im using all my cards so its only helping me not hurting me.
I really just wanted to know the best course of action to take so i know whats the best way for how to make it look good to the banks in there eyes and i would use and pay the cards off that way. But i will definetly be adding more during this year to my cap1 secured since it will help give me higher limits when im ready, i will keep depositing until it get to the max credit line of 3k.
But after i get some good cards i will fire those 2 cards that were mentioned(first premier and credit one).
If u guys have any other suggestions i can do in the meantime of this process my ears are open to anything else.