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Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
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What are the "minimum" CL's at app?

[ Edited ]

Hey, I think a very useful thread would be to collect data on what the "Minimum" issued credit limit is for particular credit card products.

 

This is important because many cards require that you must have an existing account with an established CL that is equal to or greater than the minimum allowable credit limit of the product you apply for. 

 

Example scenario:  You want to apply for XYZ Reward Visa which issues CL's of $2500 or more (never less), AND require that you have an existing CL that is at least $2500 before they will consider your application.  I read many posts where people had good FICO scores but were denied.  And when examining their current tradelines, they were all of somewhat low CL or as new accounts.  (New accounts, of course, often are ignored as a reference and are only considered as a liability until they obtain some history. )

 

The use of this information will allow people considering to APP certain products, they can determine if they will be denied soley based upon existing trade line CL's and account ages.

 

 

Message Edited by txjohn on 03-28-2009 02:02 PM

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