Stuck with low limit cards

[Anonymous]

Haha not running out to apply for anything just yet. Really protecting my inquiries now. Already got the Costco Membership

Just been reading around the forums, some great info on here.

What I do want to know is would closing to two lowest limit cards ($300Limit) help at all? I know it would throw off my ratio but not really worried about that as I keep that down anyway. Just seems always get the limits other cards already gave me, looking to graduate to something better which might actually serve a purpose besides building credit.

[dalebb]

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@Anonymous wrote:

Haha not running out to apply for anything just yet. Really protecting my inquiries now. Already got the Costco Membership

Just been reading around the forums, some great info on here.

What I do want to know is would closing to two lowest limit cards ($300Limit) help at all? I know it would throw off my ratio but not really worried about that as I keep that down anyway. Just seems always get the limits other cards already gave me, looking to graduate to something better which might actually serve a purpose besides building credit.

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after i got my primes i droped the AF and low limit cards as fast as i could

[Smug]

I went for NFCU they gave me a 10k card, after that other followed.

[dalebb]

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@Smug wrote:
I went for NFCU they gave me a 10k card, after that other followed.

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how long ago?

[jamesdwi]

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@Anonymous wrote:

So here's my situation, I'm rebuilding my credit, didn't know much about credit made some bad choices and destroyed my credit. I'm on the recovery path and currently have FICOs in the mid 600s, only one recent 30 day late and that's about to hit two years, very low debt ratio, only one credit pull (well three was rate shopping auto) in the last year.

Now, my current credit cards are:

HSBC 520CL

Orchard 300CL

Best Buy(HSBC) 300CL

FPB 800CL

Cap1 750CL

Cap1 800CL

Amex Pref Gold Charge Card

Care Credit 4100CL (cosigner)

I have strong income, about $120,000 but due to my bad early credit have low limits on my cards, the credit limits I've received on these cards have all been small in the 100-200 range. My amex I charge 2-5k a month on and payoff no problems.

What I want to know is what's the best approach for getting credit cards with decent limits on them? Should I try getting better increases on current cards? Apply for a new card (just fear getting another 300CL starter card), do I need to wait to get into the 700FICO range.

It just seems that the credit card companies are only lending what I've already got.

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go on american express web site, see what cards are you are pre-approved for,  hopefully they have a revolver such as Blue Cash Everyday or just plain Blue (only points for rewards) they usually give good limits, i got 6k CL and it was my first card with them and 3 times my highest reporting limit. And I make less than 100k a year. 

Even if they give you a smaller limt to start, at 61 days you can ask for 3x your CL that should get you a decent limit, the card will be back dated, and no HP unless you are approved, might as well use your relationship with Amex. 

[dalebb]

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@jamesdwi wrote:

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@Anonymous wrote:

So here's my situation, I'm rebuilding my credit, didn't know much about credit made some bad choices and destroyed my credit. I'm on the recovery path and currently have FICOs in the mid 600s, only one recent 30 day late and that's about to hit two years, very low debt ratio, only one credit pull (well three was rate shopping auto) in the last year.

Now, my current credit cards are:

HSBC 520CL

Orchard 300CL

Best Buy(HSBC) 300CL

FPB 800CL

Cap1 750CL

Cap1 800CL

Amex Pref Gold Charge Card

Care Credit 4100CL (cosigner)

I have strong income, about $120,000 but due to my bad early credit have low limits on my cards, the credit limits I've received on these cards have all been small in the 100-200 range. My amex I charge 2-5k a month on and payoff no problems.

What I want to know is what's the best approach for getting credit cards with decent limits on them? Should I try getting better increases on current cards? Apply for a new card (just fear getting another 300CL starter card), do I need to wait to get into the 700FICO range.

It just seems that the credit card companies are only lending what I've already got.

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go on american express web site, see what cards are you are pre-approved for,  hopefully they have a revolver such as Blue Cash Everyday or just plain Blue (only points for rewards) they usually give good limits, i got 6k CL and it was my first card with them and 3 times my highest reporting limit. And I make less than 100k a year. 

Even if they give you a smaller limt to start, at 61 days you can ask for 3x your CL that should get you a decent limit, the card will be back dated, and no HP unless you are approved, might as well use your relationship with Amex. 

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totally agree

[JusdoNit]

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@Smug wrote:
I went for NFCU they gave me a 10k card, after that other followed.

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Details, please.

[dalebb]

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@JusdoNit wrote:

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@Smug wrote:
I went for NFCU they gave me a 10k card, after that other followed.

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Details, please.

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yes, more please

[rootpooty]

Can you get in with NFCU?

[dalebb]

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@rootpooty wrote:
Can you get in with NFCU?

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not me,, i lost my dd214 in a house fire back in 89