Re: what doors will open 5 years out of bk?
04-24-2012 08:18 PM
I definitely feel your pain. I just got my highest credit limit and it is very nice to be able to charge more than $2000 worth of stuff at a time. Certainly go for it if you are needing to charge more than $2000 pretty often otherwise I think you have a good number of revolving tradelines. I think your utilization is also good but of course, it is always better to get it below about 9%. That will maximize your credit score and may help you get more approvals.
I've never heard about the credit union limit being dependent on your bank account limit. Naturally, your initial limit will be based on your credit score, income and existing debt. If you make a ton of money, you are more likely to have more money in the bank and are more likely to have a higher credit limit. Many people on these forums talk about printing out their credit report from this website and taking it to the local CU manager. They can give them a rough idea of what they qualify for. Of course, they will still want to pull your credit when you apply but it may tell you what direction they are leaning.
The one thing I also did (other than my car loan) was that I got a furniture loan. I needed new furniture and the furniture store was financing at 0% for a year. It reported as an installment loan and probably helped bump my score up a little. That is potentially something else that could help.
Your scores are good enough. Maybe get your utilization a little lower and apply for Barclay's again. When did you last apply? They will probably be your best bet for a decent credit limit (apart from your local CU. Don't underestimate the potential of your local CU). Call Barclays for a recon if you are denied. They are usually very good at reconsidering declined applications.
FICO Scores: TU 735 EQ 695 EX 740 (Feb 2013, all pulled by lender)