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New Contributor
StudentSam
Posts: 72
Registered: ‎07-12-2012
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Raising my Current Limits & Getting New Credit Card

hey guys, love the community a lot.. I've never known where to turn to for advice about this I feel everyone is out for their own good with credit specialists andc redit repair firms I always steer clear of that so I figured you guys could help?

 

I'm 24 years old, I have 100k in the bank (business bank account), I have absolutely ZERO business credit. It's an LLC and I'm the sole owner. I have an EIN # and a D&B number but beyond that it's all relying on my personal credit score.

 

My personal score is now a 580. The reason it's so low is because I have 2 defaulted student loans being rehabbed at the moment and those 2 defaults will come off my credit in about 4-5 months.

 

I have no other negatives by a charged off ( And then Paid/settled (not in ful)) Chase Credit Card 

 

Current Cards-

 

Capital One Card -$500 limit (paid always)

BoFA Card - 1k Limit (Paid ALways)

 

I bank wiht chase, and my banker tried to get me approved for Chase INK multiple times, even with special considerations of my large account balance and history of banking with them...

 

 

What can I do to:

 

a) establish biz credit

b) raise my current credit card limits

c) eventually be able to get biz credit cards and an amex.

 

 


Starting Score: 506
Current Score: 720
Goal Score: 800


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Regular Contributor
gijoe4500
Posts: 232
Registered: ‎05-12-2010
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Re: Raising my Current Limits & Getting New Credit Card

You could always get a secured card for as large of a limit as you want.  $5k, $10k, etc.  Then, hopefully they'll unsecure it, and you'll have a badass credit limit.

Last Hard Pull 05/24/2013

Starting Score: MyFico TU: 621 EQ: 610
Current Score: AmEx EX: 700 Walmart TU: 711 EQ: 699
Goal Score: 700's baby! (made it 4/10/2013!)
New Goal: 740!!


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Frequent Contributor
bbb3601
Posts: 328
Registered: ‎01-26-2012
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Re: Raising my Current Limits & Getting New Credit Card

how old is your cap 1.......could call exec office and try n get a limit increase. 

NFCU Cash Rewards 20,000,NFCU Plat 17,000, NavCheck 15,000, USAA Cash 4,000, USSA Rate Adv 2,000, USAA AMEX 3,500, Freedom 2,000, Capital One 2,000, Barclay's Apple 1,500, Barclay's Ring 1500, Various Store Cards.




Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
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Re: Raising my Current Limits & Getting New Credit Card


gijoe4500 wrote:

You could always get a secured card for as large of a limit as you want.  $5k, $10k, etc.  Then, hopefully they'll unsecure it, and you'll have a badass credit limit.


+1

 

Secured business credit card.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
New Contributor
StudentSam
Posts: 72
Registered: ‎07-12-2012
0

Re: Raising my Current Limits & Getting New Credit Card

Hey guys. Im back from hiatus. My cap one is from 2007, i can call exec office? What is their number?

 

Happy to say my creditg score is now a 664! I still want to build up buisness credit

 

ideas?

 


Starting Score: 506
Current Score: 720
Goal Score: 800


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Moderator
09Lexie
Posts: 26,592
Registered: ‎09-13-2012
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Re: Raising my Current Limits & Getting New Credit Card

Frequent Contributor
NewtoCredit80
Posts: 324
Registered: ‎04-12-2013
0

Re: Raising my Current Limits & Getting New Credit Card

Well if you student loans are current then you have a good chance of approval. You could apply at a branch.


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