@haroony wrote:I am need of prime cards soon with enough credit lines to
take advantage work related expenses. Especially cash back
and reward cards.
Here is my credit profile at the moment.
(s)= secured card
us bank(s) 0/300 9 months
usbank (s) 0/300 9 months
BOA visa(s) 0/300 9 months
Discover 140/2000 3 months
Macys joint 0/100 6yr 4 months
MYFICO eq-754 utilz-6% inq- 3 income- 78k
no major debts or car payment.
I want to apply in next week for about 6-8 cards with about 15-30k credit lines.
Not sure exactly what cards to apply for but i was thinking
Citi, Chase, Lowes , Walmart,
Is it possible to get over 20k in credit lines and any suggestions
to which bank with rewards to apply to?
Seems that you have a very thin file and is new to credit. I would advise you not to apply for 6-8 cards in the next week because you will not get the CL you want. Garden what you have and build your profile proficiently and slowly. Building good credit and file takes time. Garden. Good luck!
Welcome to the forum!
I agree with chnceit. Although your income is acceptable, your file and current limits will not get you those CL's. Walmart/Lowes may in a year or so. Chase you are looking at $1500 tops.
You might get lucky with a CU for $5k but your biggest issue is 4 new TLs less than 1 yr old.
I agree with chnceit. Although your income is acceptable, your file and current limits will not get you those CL's. Walmart/Lowes may in a year or so. Chase you are looking at $1500 tops.
You might get lucky with a CU for $5k but your biggest issue is 4 new TLs less than 1 yr old.
I might get flack for this, but I think you might be able to land an Amex BCE.
Yeah, it's a thin file, but your score is 750 (amex usually pulls experian, you should get a MyFico Exp score first) and your income is good.
When I recently got my student loans rehabbed and removed, my score shot up to 767 (it was 666 a week before from Prosper) and I applied for a BCE. I had an AU on chase that helped my AAoA, but my only other cards were a 6 month old secured cap one card ($700) and 5 month old Walmart ($400) and Amazon ($1,100) store cards. My income is 42K. 4 inquiries. 1% utilization. AND a 5 year old collection for $450.
They approved me instantly with a CL of $12,500.
One week later, I was feeling courageous, and applied for an Amex Blue Sky. New Experian pull, now 6 inquiries, and Ex score of 751.
approved instantly with a CL of $15,000.
I can only assume they didn't mind the thin file, and based the approval solely on the exp score and income.
Obviously, YMMV, but I think it's worth a single hard pull. Just check your Exp score here on MyFico first!
Starting Score: 573 (Exp 10/12)
@haroony wrote:I am need of prime cards soon with enough credit lines to
take advantage work related expenses. Especially cash back
and reward cards.
Here is my credit profile at the moment.
(s)= secured card
us bank(s) 0/300 9 months
usbank (s) 0/300 9 months
BOA visa(s) 0/300 9 months
Discover 140/2000 3 months
Macys joint 0/100 6yr 4 months
MYFICO eq-754 utilz-6% inq- 3 income- 78k
no major debts or car payment.
I want to apply in next week for about 6-8 cards with about 15-30k credit lines.
Not sure exactly what cards to apply for but i was thinking
Citi, Chase, Lowes , Walmart,
Is it possible to get over 20k in credit lines and any suggestions
to which bank with rewards to apply to?
I don't think this is such an impossible quest, due to the 6 year Macys account and an Equifax score of 754. Start with the people you've already had dealings with. Discover and US Bank.
First call Discover and mention that you heard they have a new policy where it is possible to get a credit increase after only 3 months. Mention your 754 Equfax score, and explain why you need a $10,000 credit limit. You just might get it. They also have a Miles card, if those types of rewards interest you.
After that, I would walk into a US Bank office and have a chat about this. Request the Cash+ card, its their best cash back card and if their computer rejects your application you get the Cash Rewards card which gives 1% cash back, and which can be converted to the Cash+ in as early as 6 months. Cash+ has 5% cashback categories that you get to choose every 3 months. Then ask about getting another card with travel rewards.
OP, wanted a spree of 6-8 new TLs with CL's of $15-30k, I'm sorry but I can't see that happening even with a 754 EQ. OP should try for an Amex, chances of the CL eventually getting to the figure mentioned are within the realm of possibility - again not on the first approval.
So, if we are then looking at 6-8 new TLs that equal the amount needed- I'd suggest a combination of CLI's and with new apps .
Good luck, that's a lot if new cc's on a thin file.
So, if we are then looking at 6-8 new TLs that equal the amount needed- I'd suggest a combination of CLI's and with new apps .
Good luck, that's a lot if new cc's on a thin file.
