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The best way to get high limit credit cards

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I currently have a handful of credit cards, most of them have low limits between 1500-3000. I have been trying to get a good card with a large CL but every bank when they provide an offer wont go any higher than my highest CL currently or they advise they can only start me at 3000 and then review the account within 6 months and grant a CL icrease at that time. They say they need a history to review.

 

I am frustrated to say the least. My scores are all in the 700s so I dont see why I dont qualify for a large CL credit card. My util is low, dti is low.

 

Oldest reporting account is 9 years, 10 months. AAoA is 3 years. No recent baddies, except my auto loan which is showing INCORRECTLY due to Lexus being a bunch of morons and that is nearly 10 months old.

 

ANy idea what I should be doing? FICO says to simulate my best action is as follows for raising my score. I dont know why it says that considering my util is 6%!?

 

Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: The best way to get high limit credit cards

 


ngerasimatos wrote:

I currently have a handful of credit cards, most of them have low limits between 1500-3000. I have been trying to get a good card with a large CL but every bank when they provide an offer wont go any higher than my highest CL currently or they advise they can only start me at 3000 and then review the account within 6 months and grant a CL icrease at that time. They say they need a history to review.

 

I am frustrated to say the least. My scores are all in the 700s so I dont see why I dont qualify for a large CL credit card. My util is low, dti is high.

 

Oldest reporting account is 9 years, 10 months. AAoA is 3 years. No recent baddies, except my auto loan which is showing INCORRECTLY due to Lexus being a bunch of morons and that is nearly 10 months old.

 

ANy idea what I should be doing? FICO says to simulate my best action is as follows for raising my score. I dont know why it says that considering my util is 6%!?

 

Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months


Is this true or is it a typo?

 

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
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Re: The best way to get high limit credit cards

Its true.

 

http://yfrog.com/14captureqqp

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: The best way to get high limit credit cards

Why is your dti high?

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
Posts: 1,278
Registered: ‎06-01-2007
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Re: The best way to get high limit credit cards

DTI is low. Very low. Like 3%

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Valued Contributor
Posts: 1,278
Registered: ‎06-01-2007
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Re: The best way to get high limit credit cards

Opps, that was a typo. Util is low, DTI is low.

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Re: The best way to get high limit credit cards

I have had 4 CC accounts in the past with Chase. All PIF, never late, and closed them one by one over the years at different stages of my life. The last one I closed was a Circuit City card when they went under. Would I be better applying with Chase or a lcoal CU? I use Chase for my checking and savings currently. I may also be looking to open a Business Checking account with them as well.

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
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Posts: 16,385
Registered: ‎03-12-2007
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Re: The best way to get high limit credit cards

CUs are wonderful, it might be in your interest to got that route. Just keep in mind its not uncommon for major banks to only offer new cards with CLs similar to what's on your report.

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
Posts: 1,278
Registered: ‎06-01-2007
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Re: The best way to get high limit credit cards

I guess I am just spoiled. Years ago (10-12+) all of my credit cards limits were very high, 10k-20k but that was before a nasty seperation between myself and significant other. We had made the decision to close all accounts as they were all opened under both of our names as primary holders.

 

Then I suffered through identity theft and since then have not been able to get back to where I used to be, credit wise.

 

FInancially I am more than fine, but it would be nice to book and pay for an entire vacation months in advance and not worry about affecting my UTIL.

 

Know what I mean?

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007
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Re: The best way to get high limit credit cards

I understand! 

 

Do you have a debit card with a Visa or MC logo on it? You can always use that to book vacations.

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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