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Posts: 7,225
Registered: ‎09-16-2011
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Re: One card with a higher limit versus two with a lower limit

The only other thing I would suggest is a secured loan with a 12 or 18 month repayment term. Its a great way to prepare yourself for a mortgage and you do build an asset and a tradeline relatively cheaply. My chase banker told me about this in 2007; by 2008 I was approved for Fha (my situation was way worse as it was a rebuild instead of a build) Otherwise you are on the right track!

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Registered: ‎11-09-2012
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Re: One card with a higher limit versus two with a lower limit

Webhopper, would you make the same recommendation for someone rebuilding? 

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Registered: ‎08-20-2012
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Re: One card with a higher limit versus two with a lower limit

+1

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: One card with a higher limit versus two with a lower limit

US Bank can split your limit to another account as long as you maintain the required limits for the products you are seeking.

 

Although, I would just recommend you don't do anything for now and just Garden. Use the US Bank card and PIF each month. In 6 months they will likely be able to give you a CLI or approve you for another account.

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