When You Want That BIG Limit

[galahad15]

You can request SP CLIs on Cap1 cards every 6 months, and sometimes Citi will allow a SP CLI every 6 months as well.  Also, FNBO allows SP CLIs every 3-4 months, if you request them by phone.  If you are interested in building up a high-CL card over time, one possibility I would recommend is potentially apping for the FNBO TravElite Amex card, at https://www.firstnational.com/site/personal/credit-card/amex/amex-travelite.fhtml?ecid=170304OMACRD0... (This FNBO card also does not appear to be geographically restricted).  Having FNBO cards was how I was able to successfully build up one of my FNBO cards with a SL of $2,100 to a current CL of $20k, and another FNBO card with a SL from somewhere originally in the 4 digits to a $20k CL today, all in less than 2 years.

[Anonymous]

OP:  So your goal is a super high limit card simply for the prize of having one?  That's fine if it's the case.  I get it.  I've been there and felt the same way.  It's sort of an ego thing I guess.  And that's not a bad thing, so please don't take it that way.  I assume you don't have any intentions of slapping down your potential high limit card and trying to buy a car with it anyway.

Amex cards with back to back 3X CLIs can get someone to 9X their SL in 8-9 months.  If your SL is $3k, that means $27k.  $4k+ SL?  $35k in 9 months.  That's probably your best bet as far as getting a high limit card without additional HPs in a relatively short period of time. 

[Creditplz]

OP income has a HUGE role to play with getting higher CL, I currently hold 42k Ritz, 25k Biz Marriott, and a 46k CSP.

Score is 769 on the EX report that chase gave me.. income is listed at 206k, although I could add DW income and possibly get more.

Oh and our Platinum Amex although NPSL has a approved amount up to 89,500.00.

[Anonymous]

I always wondered, do higher limits really attract other lenders to give you higher limits? Or is it more so a person gets a higher limit based on their income going up and scores over time? Do lenders disregard a low income, and sees someine having a bunch of high limits..so they give one out too?

[Anonymous]

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@Anonymous wrote:

I always wondered, do higher limits really attract other lenders to give you higher limits? Or is it more so a person gets a higher limit based on their income going up and scores over time? Do lenders disregard a low income, and sees someine having a bunch of high limits..so they give one out too?

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Might be the opposite.  They see you arleady have such high limits based on your income that they give you less of a limit.

My wife has had the same Capital One Platinum for 15 years with a 11k limit as her only card.  Applied for two cards this year. USAA which gave 25k limit and then Southwest which gave 27k limit.  You have scores in 800's and income to back it up I don't think you will have any problem getting high limits.

[Gmood1]

@geekycreditguy..Though income certainly plays a part in SL. Scores and history are the primary factor. IME, the way one handles their CLs is a factor. If you have a track record of responsibly handling those limits. It may give some lenders more confidence that you can handle the CLs they give you. My income hasn't changed in the last 24 months. Yet my CLs have swelled from $2600 to over $400,000.

You can earn $500,000 a year. If you have 550 scores. The banks aren't going to hand you large SLs. They may give you an average limit and increase it as you show you are responsible.
High income does not equate to being responsible.

[Anonymous]

Yes definitely will not be buying a car on a credit card anytime soon, that was a joke. There definitely is some ego invloved for sure.

But I do run a decent amount through my cards each month and don't like having to constantly monitor how much reports to keep Utilization below 9%.

I am in the process of waiting out my second AMEX 3xcli on my BC. First one took SL of 2k up to 6k. We will see whether they are interested in giving me 18k this go around.

[Anonymous]

@galahad15 i was looking at the Travelite card, but I don't think it will have the same value sense I have the Reserve which is a pretty good travel card for my needs.

Any suggestions on other FNBO cards? Also is it difficult to get in with them?

[HeavenOhio]

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@Anonymous wrote:

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@Anonymous wrote:

I always wondered, do higher limits really attract other lenders to give you higher limits? Or is it more so a person gets a higher limit based on their income going up and scores over time? Do lenders disregard a low income, and sees someine having a bunch of high limits..so they give one out too?

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Might be the opposite.  They see you arleady have such high limits based on your income that they give you less of a limit.

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I think it can work either way. AMEX was happy to give me a starting limit that was over 40% of my income, and they were happy to increase it substantially after 61 days. But they didn't give me the full CLI that I requested. It could have been based on income, but more likely, I think it was based on the fact that my total available credit had increased by a lot over the previous few months.

I think that different lenders have different priorities. And different borrowers have different priorities. If you're looking for a high limit, you'll probably find some cards that'll give you that. But as we've seen on these forums, that's not going to be the case across the board. Cifi Double Cash and Chase Amazon, for instance, have been known to be approved with starting limits that surprise people because they're relatively low.

I dont look at limits from an ego standpoint. I want one more card with a decent limit because it makes sense from a financial standpoint and a convenience standpoint. When I app for a new card in a few months, the potential for a high starting limit will be a priority. After that, limits won't be a big deal. If I app for anything, it'd likely be because the rewards would be a good fit for me.

[steel_string]

Every card I've gotten in the last couple of years has given me my second highest limit at the time of application, except for US Bank. My starting limits have seemed to be entirely a function of income and highest existing limit.