topic CL upper limit ?? in Credit Card Applications

CL upper limit ??

pi-r-squared — Thu, 17 Mar 2016 01:58:35 GMT

My current total combined income is near 60K (me and wife).

I have the following CCs and limits

Lowe's $30K
Cap One Venture $21K
Discover IT $18K
Cap One Platinum $7K
--------------------------------
Total credit: $76K

My FICO score are EQ 724, TU 718, and EX 731.

Am I close to hitting an upper limit for credit amounts? For example, I am pre-qual for another Venture and could probably get a 2nd Discover IT. Could it be possible that I could get two more high limit cards (say $15K and $10K) and have over 100K credit limit across all cards even with a 60K income?

Re: CL upper limit ??

NRB525 — Thu, 17 Mar 2016 02:19:41 GMT

Yes, you could still find more cards with more CL. Congratulations on the cards, it's a nice setup.

I'm not sure the second Discover is in the cards, seems like others have had some difficulty getting two of the same Discover type, but that's not a scientific statement.

Why Discover and CapOne for the continued apps? Have you used the Citi prequalification tool?

Re: CL upper limit ??

Anonymous — Thu, 17 Mar 2016 02:25:28 GMT

@pi-r-squared wrote:
My current total combined income is near 60K (me and wife).

I have the following CCs and limits

Lowe's $30K
Cap One Venture $21K
Discover IT $18K
Cap One Platinum $7K
--------------------------------
Total credit: $76K

My FICO score are EQ 724, TU 718, and EX 731.

Am I close to hitting an upper limit for credit amounts? For example, I am pre-qual for another Venture and could probably get a 2nd Discover IT. Could it be possible that I could get two more high limit cards (say $15K and $10K) and have over 100K credit limit across all cards even with a 60K income?

You should be able to get at least double your annual income (that's just about where I am right now), not sure how much higher than that one can go, but I have been wondering about that myself.

Re: CL upper limit ??

pi-r-squared — Thu, 17 Mar 2016 13:35:25 GMT

@NRB525 wrote:
Yes, you could still find more cards with more CL. Congratulations on the cards, it's a nice setup.
I'm not sure the second Discover is in the cards, seems like others have had some difficulty getting two of the same Discover type, but that's not a scientific statement.

Why Discover and CapOne for the continued apps? Have you used the Citi prequalification tool?

Burned Citi, Chase, AMEX, and BoA in a BK-7 close to 10 years ago. Don't pre-qual and probably never will again.

Re: CL upper limit ??

Anonymous — Thu, 17 Mar 2016 16:52:34 GMT

what's the need for a second It and venture? and you can still keep going.. i am close to 4x my income

Re: CL upper limit ??

Anonymous — Fri, 18 Mar 2016 12:45:59 GMT

Maybe diversify.

With who you have burned, maybe give Barclay a try if a product of theirs suites your needs.

Re: CL upper limit ??

driftless — Fri, 18 Mar 2016 13:16:37 GMT

What about a Cap One Quicksilver? Perhaps combine it with your platinum?

Re: CL upper limit ??

Creditaddict — Fri, 18 Mar 2016 16:44:56 GMT

@pi-r-squared wrote:
@NRB525 wrote:
Yes, you could still find more cards with more CL. Congratulations on the cards, it's a nice setup.
I'm not sure the second Discover is in the cards, seems like others have had some difficulty getting two of the same Discover type, but that's not a scientific statement.

Why Discover and CapOne for the continued apps? Have you used the Citi prequalification tool?
Burned Citi, Chase, AMEX, and BoA in a BK-7 close to 10 years ago. Don't pre-qual and probably never will again.

Amex tends to start letting people in around 7 years.

Chase 8-10 but some have done sooner

Citi is iffy but usually once it's off reports

BofA once it's off reports

you just may never get pre-qualified offers but doesn't mean it's not worth applying!!!

and you can FOR SURE probably triple or more your annual income in available credit!!!

Re: CL upper limit ??

Themanwhocan — Fri, 18 Mar 2016 18:15:19 GMT

@pi-r-squared wrote:
My current total combined income is near 60K (me and wife).

I have the following CCs and limits

Lowe's $30K
Cap One Venture $21K
Discover IT $18K
Cap One Platinum $7K
--------------------------------
Total credit: $76K

My FICO score are EQ 724, TU 718, and EX 731.

Am I close to hitting an upper limit for credit amounts? For example, I am pre-qual for another Venture and could probably get a 2nd Discover IT. Could it be possible that I could get two more high limit cards (say $15K and $10K) and have over 100K credit limit across all cards even with a 60K income?

My income is $61K, my total credit card limits $284K plus an American Express Premier Rewards Gold charge card.

You will hit limits that each creditor will give you, but other creditors will probably be OK with giving you more credit limit.

Do you have any other open loans besides credit cards?