Is it really possible to go from $0 to $200,000 in credit in 2 years?

[blackandgray]

I was reading a post on another forum where a member said that they went from $0 to $200k in credit in just two years. This was in the form of credit cards only; no loans. It was also implied that they started from scratch with no prior credit at all. They briefly detailed how they did it, which seems to have involved opening a lot of secured cards in the beginning.

So, is it really feasible to obtain that much credit in just two years starting from scratch?

[Anonymous]

I am sure so. Most of my credit lines occurred during the last month and a half.

In my wallet: Venture 15k; Barclay Ring 12.5k; Discover 10k; PenFed Promise 10k; CareCredit 7.7k; Amazon Store Card 5k. QS 5k; BA Travel Rewards 3.5k; BA Travel Rewards 3.5k; BA Platinum Visa 2k; Barclay Apple Rewards 2k. Total Credit: 76,200. 7/2-FICO: EQ - 788; TU - 779; EX - 690; Utilization: 12%; GOAL: 780 across the board then 800 across the board. Inquiries: EQ: 7 TU: 6; EX 3; Chapter 13 seven years May, 2015. Reset my garden date to 7/7. Gardening until further notice.

[takeshi74]

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@blackandgray wrote:

So, is it really feasible to obtain that much credit in just two years starting from scratch?

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It's possible but that doesn't mean that everyone can do so.  Credit plays a major role in determining limits but income matters as well.  Everyone's income is not the same.

Regardless, everyone building and rebuilding should expect it to be a long, slow process versus looking for quick fixes and shortcuts.  There are certainly things you can do to help the process -- such as opening several secured cards so one can start off by maintaining low revolving utilization -- but maintain reasonable expectations and don't just assume that because someone did X in Y time that you will as well.

[MT936]

it's possible but I wouldn't go about applying for that many credit cards to have such a limit like that

[Anonymous]

Pizza1 did it.

[pizza1]

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@Anonymous wrote:

Pizza1 did it.

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yep, sure did...LOL..maxxed out inquires on all three CRA too, hahahah...

BUT...I DID have a credit past prior to my BK,.......BUT...after Bk, yes, $0 to $200k+ in 1yr 10mo....I dont reccommend it though, but Im a go getter!!  LOL

[blackandgray]

Hi pizza1, is there a thread on this forum detailing how you went about obtaining that much credit?

[baller4life]

Absolutely! I did it. $300 to $219k in under 2 yrs!

[Anonymous]

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@blackandgray wrote:

Hi pizza1, is there a thread on this forum detailing how you went about obtaining that much credit?

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She has a really simple approach. Here are the steps:

1. App for everything in sight.

2. Repeat #1 as many times as necessary. 

[Anonymous]

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@Anonymous wrote:

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@blackandgray wrote:

Hi pizza1, is there a thread on this forum detailing how you went about obtaining that much credit?

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She has a really simple approach. Here are the steps:

1. App for everything in sight.

2. Repeat #1 as many times as necessary. 

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LOL simple enough.

I started January 2015 with one CC - Capital One Visa with $8k limit after I terminated all my other cards. In just 7 months my total credit is $101,500 after opening 14 cards. I certainly wasn't hoping to get into the 6 digits, but yes, it can happen, sometimes sooner than later depending on the other score factors.