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Ok, I'm really frustrated now. I just got off the phone with both Chase and Capital One. Neither granted me a CLI, and I pay my balances off in full every month. I have one 30-day late with Capital One from 2.5 years ago and that's it. Capital One STILL hasn't raised my limit past $500, and Chase (albeit is only 11 months old) wouldn't bring it up from $7500. My credit score is 670 and I have a 3.5 yr credit history. I make a very good salary (well over $100K) and have no other derogatory info in my file. All of my accounts are in good standing.
I wanted a CLI because I'd like to keep my utilization low, and it's much easier for me to just pay for everything I need every month on one card, and then pay it off at the end of each billing cycle. This makes my life much easier, but with $8000 of total credit, that means that I can ring up much more than $1000/month to keep my utilization low. If I could bring my limit up to $12-$14K, my life would be much simpler.
Very frustrated.
Any advice?
Thanks
Do go for a new card next month. But then get real about your situation. All of your numbers are bad. Do a search and see what a "good" fico score is. Yours is just "fair" and in good times that wouldn't be so hot. Since these are bad times you will be lucky to keep what you have.
Get one new card and start working on your profile. Get your score up to 690 and you will have a nice start.
Good luck,
CI
If it were me, I'd look into some credit union relationships, as well as USAA, for a high limit credit card. USAA is now open to non-military members and you can apply for their Mastercard product, which is usually an Equifax pull. Another option might be Alliant Credit Union...also an Equifax puller. I would not recommend PenFed Credit Union at this point, since your history is fairly short and you have that late reporting. They are extremely conservative, but will be a fantastic option for you in a couple years or so.
If you could get in with Navy Federal Credit Union, they would take good care of you and give you all the credit you need and more. Check out their website to see if you might qualify.
Good luck!
Wow, that's kinda harsh. I think that OP's scores are able to soar pretty nicely by playing the CC statement timing game.
CHARGE_IT wrote:
Do go for a new card next month. But then get real about your situation. All of your numbers are bad. Do a search and see what a "good" fico score is. Yours is just "fair" and in good times that wouldn't be so hot. Since these are bad times you will be lucky to keep what you have.
Get one new card and start working on your profile. Get your score up to 690 and you will have a nice start.
Good luck,
CI
Sorry, I was writing about real life, not playing cc games.
CI
Just googled it:
Just wanted to give a heads up to those here that USAA is now unofficially open to everyone. As a non-military member, the only way to sign up is via phone. The number is 1-800-531-2265. As soon as the automated menu starts, just verbally say "representative." You'll immediately get a live rep, and begin opening your accounts. I can confirm that you, as a non-military member, can qualify for their checking account with full benefits, as well as their MasterCard, without rewards. The checking account gets all but one of the benefits given to military members, and IMO, may be the best checking account available on the market today. Below are the benefits.