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Regular Contributor
scarzy
Posts: 207
Registered: ‎04-08-2008

What's the secret to high limits??

I once thought that you need to have an income of $90,000 or higher to get a high limit card.

After reading many posts here, the main thing is how your handle your credit no matter how many cards you have.

The key is utilization needs to be 10% or less. Correct?!?!

starting EQ FICO : 526 current EQ FICO : 640 starting TU FICO: 538 current TU FICO : 656

My wallet: Capital One cash rewards $1,300- ~ NFCU signature cash rewards $5,000- ~ NFCU nRewards $5,000- ~ NFCU LOC $1,000- ~ Target $200- ~ Kohl's $300- ~ Walmart $800- ~ Amazon $900- ~ Updated 6/2013

Discharged Ch7 Nov.16, 2012

Established Contributor
swpopham
Posts: 536
Registered: ‎06-02-2012

Re: What's the secret to high limits??

Nope.. utilization has nothing to do with it. Usage, usage, usage.... i often have 60-85% utilization but have never been declined for it. I use the hell oit of my cards for 3-4 months call for a cli tell them its killing my utilization and ill keep using the card. The trick is to pif after the statement so others see usage too. And the ability to use responsibly
"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
New Contributor
KausticRage
Posts: 55
Registered: ‎10-10-2012

Re: What's the secret to high limits??

Time, patience, usage and absolutely no late payments.  I just broke the 5K club and can't wait to get rid of my toy limit cards and CLI my GE backed cards to higher limits.

April 2013 FICO Scores
Experian - 709 Chase Freedom Pull
Equifax - 788 BofA MLB Rewards Pull
Trans Union - 778 (GE Money Bank CLI scores)

In the Garden until at least 2014 to let the new accounts age and HP's fall off. 800 club here I come...
Valued Member
Fenerbahce
Posts: 40
Registered: ‎04-18-2008

Re: What's the secret to high limits??


swpopham wrote:
Nope.. utilization has nothing to do with it. Usage, usage, usage.... i often have 60-85% utilization but have never been declined for it. I use the hell oit of my cards for 3-4 months call for a cli tell them its killing my utilization and ill keep using the card. The trick is to pif after the statement so others see usage too. And the ability to use responsibly

Utilization does have something to do with it, that's why you pay in full before requesting the increase. Utilization counts as 1/3 of your credit score, and if you want to have a good chance at a limit increase(new account), then you'd better have the strongest score possible. The ultimate score can be achieved with 1% utilization, but anything under 15% is good...the lower the better.

 

I recently got denied a CLI on a soft inquiry with AMEX because they were using a 2 week old report where my util was between 30-40%...now it's at 6%...and after I'd lowered my util, I was approved for over 40k between 3 cards this week. Utilization is key!

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Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012

Re: What's the secret to high limits??

the quickest way to a big CL is NFCU lol my highest was 5.7 before they gave me my first 10k

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Mega Contributor
Creditaddict
Posts: 16,896
Registered: ‎10-23-2007

Re: What's the secret to high limits??


jsickz32 wrote:

the quickest way to a big CL is NFCU lol my highest was 5.7 before they gave me my first 10k


Navy or Amex and now recently I feel like GE and I almost want to stab my hands while typing such a thing that inclused GE as any part of a thread about high limits!!

but they have made a VERY large improvelemt about being a better company for actual growth... with that said though if you insist on talking to the Capital One Rep overseas, GE probably splits the office space, online or direct to underwriting for me when it comes to GE!

 

 

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Frequent Contributor
AF_23
Posts: 288
Registered: ‎02-06-2012

Re: What's the secret to high limits??

Patience. 

Regular Contributor
tengtengvn
Posts: 249
Registered: ‎01-18-2009

Re: What's the secret to high limits??


AF_23 wrote:

Patience. 


+1

What's in your wallet?
-Not Capital One.
Valued Contributor
creditnocash
Posts: 2,164
Registered: ‎07-23-2012

Re: What's the secret to high limits??

you can always go to sdcu and get the 100k secured card. 

im sure some companies would offer you higher limits =) 

 

its a factor of everything. 

score 

aaaoa and income. 

PAYMENT history is huge. 

 

i just started in credit in 10/10 and now have 2 5k cards. one is walmart and the other my bank card. (not a cu though) 

annual salary i say now is 32k.  most recent update before today was 688 eq but dropped a few points today for util inc

Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)

Starting total revolving credit: $2600 | Current total revolving credit: 31k+

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
Duncanrr
Posts: 2,825
Registered: ‎06-08-2012

Re: What's the secret to high limits??

For most people GE then AMEX. If you are lucky or work really hard :smileywink: then NFCU trumps all. (I love how I can have 2k report and only be at 9% UTIL on the card.)


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 688 TU 727 EX 704 CK 696 (FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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