Credit Cards

[7PM789]

I got my first credit card (a secured card) through my credit union 18 monthes ago. It graduated after 6 monthes and 2 monthes after that I requested and received a cli from 500.00 to 2500.00; Two monthes ago I requested a cli from 2500.00 to 5000.00 and was denied. The highest line of credit they offer is 10,000.00 if I transfer/deposit 7500.00 to be frozen would the card report the same and how would this effect my credit score which is currently between 716 and 729. The reason I want to do this is to balance and keep my utilization low as well as display financial responsibility enabling myself to receive higher initial credit limits in the future. I would like to apply for a chase freedom visa before the end of the year.

[jamesdwi]

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7PM789 wrote:
I got my first credit card (a secured card) through my credit union 18 monthes ago. It graduated after 6 monthes and 2 monthes after that I requested and received a cli from 500.00 to 2500.00; Two monthes ago I requested a cli from 2500.00 to 5000.00 and was denied. The highest line of credit they offer is 10,000.00 if I transfer/deposit 7500.00 to be frozen would the card report the same and how would this effect my credit score which is currently between 716 and 729. The reason I want to do this is to balance and keep my utilization low as well as display financial responsibility enabling myself to receive higher initial credit limits in the future. I would like to apply for a chase freedom visa before the end of the year.

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I personally would try for a revolver from AMEX, it should easily net you a CL of 2k or more with your score  at  61 days reqyest a 3x CLI   this should net you a minimum of a 6k CL probably more. AP for an AMEX Zync use it to help and eliminate your UTL since its a charge card its reported balance doesn't hurt UTL, take the 7500 and put it in a CD with a highest rate you can find. 

[7PM789]

I already have a Amex gold card npsl and a discover more - 2500.00 I pif every month. I want the freedom so I have an Amex, discover, mastercard and visa. I plan on getting a Amex bce in the future so I can boost my aaoa by having it backdated.

[7PM789]

If I do transfer/deposit the 7,500.00 it would be frozen in my savings account and it would continue to compound interest. What I am curious about is whether or not discover will be generous when it comes time for a cli and if I apply for a chase freedom could I expect a decent initial cl (2,500.00<) ?