Reply
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: What should be my optimal strategy?

Amex only approved me for a $1000 CL :smileysad:

 

Perhaps, I should have waited for my Southwest to be reported.

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Blogger
HiLine
Posts: 3,176
Registered: ‎10-19-2012
0

Re: What should be my optimal strategy?

[ Edited ]

Getting membership with Amex is a huge step; they're one of the pickiest lenders out there. Fortunately they're also one of the most generous in giving credit limit increases. Use the card well and you'll reach 25k on that card alone in 2 years. :smileywink:  If you can get another Amex in January, you'll be golden.

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What should be my optimal strategy?


nicholasyud wrote:

and he want 100k credit limit in 1 or 2 years. Thats impossible man.

 


With the powers of backdating and Navy Federal / USAA

 

25k Navy Federal + 25k NavChek with approved income + USAA 25k + Amex backdating for 25k+ each credit limit + combination of secured credit lines with high incomes it makes it VERY EASILY POSSIBLE. Especially with Amex alone as long as he's willing to FR.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What should be my optimal strategy?


cowboyguy wrote:

Amex only approved me for a $1000 CL :smileysad:

 

Perhaps, I should have waited for my Southwest to be reported.


No worries after 61 days you can get 3x CLI for $3,000 then after 6 months you can get another one for 9k, then 6 months after that you can request 28k (this will trigger a financial review) but as long as you can document it, it'll be fine.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Blogger
HiLine
Posts: 3,176
Registered: ‎10-19-2012
0

Re: What should be my optimal strategy?


distantarray wrote:

nicholasyud wrote:

and he want 100k credit limit in 1 or 2 years. Thats impossible man.

 


With the powers of backdating and Navy Federal / USAA

 

25k Navy Federal + 25k NavChek with approved income + USAA 25k 


There you go, OP! :smileyhappy:

Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: What should be my optimal strategy?

[ Edited ]

Thans guys.

 

HiLine, which Amex card do you suggest me to apply for in January?

 

Secondly, is it true that one can ask Amex for CLI every six months & they would give 3x increases each time (of course conditional on your good credit history)?

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: What should be my optimal strategy?

Bump
Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Blogger
HiLine
Posts: 3,176
Registered: ‎10-19-2012
0

Re: What should be my optimal strategy?

[ Edited ]

cowboyguy wrote:

Thans guys.

 

HiLine, which Amex card do you suggest me to apply for in January?

 

Secondly, is it true that one can ask Amex for CLI every six months & they would give 3x increases each time (of course conditional on your good credit history)?


Depends on what you need. You won't be a stranger to American Express next time you apply. Do you care about cash back/travel rewards at all? If not, I would shoot for  one without an annual fee, preferably the Blue Cash Everyday. 

 

The answer to the second question will come after 2 minutes searching through previous threads in this forum...

Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: What should be my optimal strategy?

Thanks HiLine.

 

And I got my answer regarding the CLIs :smileyhappy:

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
Regular Contributor
cowboyguy
Posts: 197
Registered: ‎07-26-2012
0

Re: What should be my optimal strategy?

Got a quick question.

To reach my goal, is it better to apply for more cards right now & ask for CLIs at regular intervals OR let my score & AAoA increase a lot & then apply for cards late in to the future to get high initial CLs?
Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}