Tale of Low Limit Cards

OroroMunroe · ‎05-24-2016

Many of us, at the beginning of our credit journey, started with cards with low limits. Some of us, later in our journey, received low starting limits due to credit apping mania :-)

As a consequence of not gardening like I should, I recently acquired a low limit Barclaycard. I searched the forum looking for advice about what to do with such a low limit card. Advice ranged from close the account to recon for a higher limit to keep it and watch it grow. For the purposes of this thread, I'm defining low limit cards as cards that started with $1000 or less. I thought it would be cool to create a topic just for our starter/should-have-stopped-apping cards (excuse me if this has already been done). How many low limit cards do you currently have? If you had cards that started with low limits, when did they start to grow, and how much have they grown? I hope we can collectively weave a tale dedicated to the low limit cards some of us love to hate.

Anonymous · ‎05-24-2016

I like the ideal of the thread. I have quite a few with low limits, mines I don't think is for apping, It has more to do with derogs (I should have waited, they are almost gone all three this year) but my impatience got the best of me as I watched my scores going up. But the good thing is most are moving, (not as fast I'd like) but I have a little thread of patience and I'll be growing mines and no more apping for at least 6 months for me.

OroroMunroe · ‎05-24-2016

@tamaralig wrote:
I like the ideal of the thread. I have quite a few with low limits, mines I don't think is for apping, It has more to do with derogs (I should have waited, they are almost gone all three this year) but my impatience got the best of me as I watched my scores going up. But the good thing is most are moving, (not as fast I'd like) but I have a little thread of patience and I'll be growing mines and no more apping for at least 6 months for me.

Thanks for the reply! I can relate. Building/rebuilding credit takes time and patience. Best of luck on your journey!

Anonymous · ‎05-24-2016

When I started my journey, ALL my cards were low limit (and I have a friend who's cards made mine look like Centurian Black cards).

One of those cards (US Bank), my 2nd oldest, remains at $500. It's a Kroger card, and since I don't have any Kroger companies nearby, it will never grow, as I have no use for it. Why not close it, you ask? Sentimantalism, I guess. I tried to PC it, and US Bank just opens new cards for me whenever i ask about it. (Go figure)

Gas stations here recently changes from P66 ($2100 limit) to Valero ($300 limit). I get better deals from Discover and Sams MC, so I haven't used it yet, and that means it likely will not grow. I don't want to close it so soon (and besides $0/$300 still helps util), but surely eventually will.

The only other low card I have is Citi DC (0% APR and great card, but useless at $500), I've tried twice to CLI it, 5th statement just closed, and I will pay it as soon as I get it (any day now), and will likely hit the luv button soon after that. (Should have a new FICO from their site, as well)

Anonymous · ‎05-24-2016

My Chase Amazon card started at a $500 limit, then was raised to $1000 at some point. It's stayed at $1000 for several years now. It was my only credit card for a while (as I didn't realize many of the differences between credit and debit cards until recently) and now it's my oldest card. It might be possible to increase the credit limit on it if I ask Chase directly for one, but from what I've read that would involve a reported credit inquiry and even then would probably not be approved. I use it every once in a while for Amazon purchases. I might ask them for a credit limit increase after my current inquiries time off, but for now I'll just let it be.

OroroMunroe · ‎05-24-2016

@Anonymous wrote:
When I started my journey, ALL my cards were low limit (and I have a friend who's cards made mine look like Centurian Black cards).

One of those cards (US Bank), my 2nd oldest, remains at $500. It's a Kroger card, and since I don't have any Kroger companies nearby, it will never grow, as I have no use for it. Why not close it, you ask? Sentimantalism, I guess. I tried to PC it, and US Bank just opens new cards for me whenever i ask about it. (Go figure)

Gas stations here recently changes from P66 ($2100 limit) to Valero ($300 limit). I get better deals from Discover and Sams MC, so I haven't used it yet, and that means it likely will not grow. I don't want to close it so soon (and besides $0/$300 still helps util), but surely eventually will.

The only other low card I have is Citi DC (0% APR and great card, but useless at $500), I've tried twice to CLI it, 5th statement just closed, and I will pay it as soon as I get it (any day now), and will likely hit the luv button soon after that. (Should have a new FICO from their site, as well)

Thanks for sharing! Thanks for reminding me that low limits help utilization. Best of luck on your journey!

OroroMunroe · ‎05-24-2016

@Anonymous wrote:
My Chase Amazon card started at a $500 limit, then was raised to $1000 at some point. It's stayed at $1000 for several years now. It was my only credit card for a while (as I didn't realize many of the differences between credit and debit cards until recently) and now it's my oldest card. It might be possible to increase the credit limit on it if I ask Chase directly for one, but from what I've read that would involve a reported credit inquiry and even then would probably not be approved. I use it every once in a while for Amazon purchases. I might ask them for a credit limit increase after my current inquiries time off, but for now I'll just let it be.

Thanks for sharing! I remember applying for a Chase Amazon card, but I was denied. It's great the card still serves a purpose. Best of luck on your journey!

Anonymous · ‎05-24-2016

@Anonymous wrote:
My Chase Amazon card started at a $500 limit, then was raised to $1000 at some point. It's stayed at $1000 for several years now. It was my only credit card for a while (as I didn't realize many of the differences between credit and debit cards until recently) and now it's my oldest card. It might be possible to increase the credit limit on it if I ask Chase directly for one, but from what I've read that would involve a reported credit inquiry and even then would probably not be approved. I use it every once in a while for Amazon purchases. I might ask them for a credit limit increase after my current inquiries time off, but for now I'll just let it be.

After a year, I called in and asked Chase for a CLI (no luv button). It cost me a HP, but went from $2k to $3k, and I feel that I could have gotten more, if I just asked.

Ghoshida · ‎05-24-2016

In Chronological order :

1. Cap One Platinum (02/2013) started at $500, credit steps to $2k. PC to Quicksilver. Two EO CLIs to $6k, then two SP CLI to $10k. Combined Venture into it to now $29k.

2. Discover It (04/2013) started at $750. HP CLI to $2k 11/2013. Auto CLI to $5.7k 05/2014. Since then, several SP CLIs to currently $34k.

3. US Bank REI (08/2013) started at $1k. First SP CLI to $3k 10/2014. Couple more SP CLI to $6.5k now.

4. AMEX BCE (12/2013) started at $1k. First Auto CLI to $2k 10/2014 pre-statement. 3x tried and successful immediately after statement. Couple more SP CLIs to currently $25k.

5. Chase Freedom (02/2014) started at $500. First Auto CLI to $1k 07/2014. Combined $1k Slate into it 09/2014. Moved some CL from my larger CSP CL couple of times to currently $10k.

6. Chase Slate (04/2014) started at $1k. Merged into Freedom 09/2014. I joined MyFICO after opening the Slate. Went to the garden after reading the first few suggestions. Put a freeze on my reports since then. The first time I temp lifted the freeze, I hadn't apped for 6 months (10/2014), my scores were up 60-80 points, and I apped and got the CSP and the Cash+.

7. US Bank Club Carlson (06/2015) started at $1k. One SP CLI later, at $2.5k currently. My last revolving credit card app. Only applied for the PRG since then. I got 3 cards on the same day, the Venture, 2nd Cash+, and this one. I think US Bank didn't like that I was applying for two of their cards, and probably too many inquiries across my SO and I that they could see on ARS / IDA which I didn't and haven't frozen.

There you go, my full cycle of low limit cards.

BTW, my first card ever in the USA, the UFCU card, started at $2k (not low limit) but never grew, even after taking a HP. So that's my current low limit card. Haven't closed it because of sentimental reasons, and no AF.

OroroMunroe · ‎05-24-2016

@Ghoshida wrote:
In Chronological order :

1. Cap One Platinum (02/2013) started at $500, credit steps to $2k. PC to Quicksilver. Two EO CLIs to $6k, then two SP CLI to $10k. Combined Venture into it to now $29k.

2. Discover It (04/2013) started at $750. HP CLI to $2k 11/2013. Auto CLI to $5.7k 05/2014. Since then, several SP CLIs to currently $34k.

3. US Bank REI (08/2013) started at $1k. First SP CLI to $3k 10/2014. Couple more SP CLI to $6.5k now.

4. AMEX BCE (12/2013) started at $1k. First Auto CLI to $2k 10/2014 pre-statement. 3x tried and successful immediately after statement. Couple more SP CLIs to currently $25k.

5. Chase Freedom (02/2014) started at $500. First Auto CLI to $1k 07/2014. Combined $1k Slate into it 09/2014. Moved some CL from my larger CSP CL couple of times to currently $10k.

6. Chase Slate (04/2014) started at $1k. Merged into Freedom 09/2014. I joined MyFICO after opening the Slate. Went to the garden after reading the first few suggestions. Put a freeze on my reports since then. The first time I temp lifted the freeze, I hadn't apped for 6 months (10/2014), my scores were up 60-80 points, and I apped and got the CSP and the Cash+.

7. US Bank Club Carlson (06/2015) started at $1k. One SP CLI later, at $2.5k currently. My last revolving credit card app. Only applied for the PRG since then. I got 3 cards on the same day, the Venture, 2nd Cash+, and this one. I think US Bank didn't like that I was applying for two of their cards, and probably too many inquiries across my SO and I that they could see on ARS / IDA which I didn't and haven't frozen.

There you go, my full cycle of low limit cards.

BTW, my first card ever in the USA, the UFCU card, started at $2k (not low limit) but never grew, even after taking a HP. So that's my current low limit card. Haven't closed it because of sentimental reasons, and no AF.

Thanks for sharing! Wow! Your journey has been great thus far. I'm sure your post will give many of us hope. Best of luck on your journey!