topic Re: Highest Starting Limit Cards for Spree in Credit Card Applications

Highest Starting Limit Cards for Spree

charles23 — Thu, 14 Oct 2021 02:56:49 GMT

I would like advice on what cards I might qualify for in doing a big spree now.

I want to get new cards with high starting credit limits that I can potentially access for balance transfers or cash with decent interest rates JUST IN CASE I should need to do so for my business.

I just recently successfully applied for & received 2 new cards: a 7.1k Navy Platinum Visa & a 15k FBNO Evergreen Visa.

My Fico 8 scores as of today are TU 798, EQ 762, EXP 764

Util 3%

Credit Age 5 yrs 5 mo

Inquiries TU = 1, EQ = 1, EXP = 4

Open Accounts

31,000 Discover it

20,000 Lowes (recent CLI from 2.2k)

15,000 FBNO Evergreen Visa (NEW)

13,500 Macy's AMEX (recent CLI from 6k)

13,000 Sam's MC (recent auto CLI from 8k)

10,000 Chase Freedom Unlimited Visa

9,000 B of A MC (recent CLI from 3.9k)

9,000 Chase Slate Visa

7,100 Navy Platinum Visa (NEW)

5,000 Sam's Plus

3,900 Best Buy Visa

1,500 Pay Pal

1,000 Chase Freedom

700 Kohl's

Income 205,000

Re: Highest Starting Limit Cards for Spree

NYC_Fella — Thu, 14 Oct 2021 01:52:48 GMT

You might want to try WF. They gave me a $22K SL a few months ago. Amex BCP gave me $15K a couple of days ago. Those are my biggies.

Re: Highest Starting Limit Cards for Spree

CreditCuriosity — Thu, 14 Oct 2021 02:06:27 GMT

Best bet is probably a CU as long as you don't mind providing POI. Alot of other factors go into SL's though such as age of credit, obviously income, utilization, dti and 100's of other factors. I would also suggest you make it only a small spree and before your other cards that are new report as well..

Re: Highest Starting Limit Cards for Spree

cashorcharge — Thu, 14 Oct 2021 02:07:26 GMT

You may also want to try PenFed. They will SP EQ for membership and HP EQ for a credit card app. They do offer BT's and though you EQ score is lower than the others CB's, it still in line with recent approvals and with only 1 EQ HP, you may be succesful there. The Gold Card is their low APR card and the Power Cash Rewards is the primary rewards card. DP's have stated their Pathfinder has a stricter UW rules so you may get a better SL on the Power Cash

Re: Highest Starting Limit Cards for Spree

charles23 — Thu, 14 Oct 2021 02:19:07 GMT

Unfortunately my 2 new cards are already reporting.

I am already signed up at Pen Fed Credit Union so I am all ready to go with them.

Thank you guys for all the knowledgeable information that comes my way here!!

Re: Highest Starting Limit Cards for Spree

greatscott85 — Thu, 14 Oct 2021 02:48:17 GMT

@charles23 Take a look at BECU. SP to join. Just picked up a Cashback card and got 20k. They seemingly pull Transunion.

Not sure if you want to pull another Chase card but the Sapphire Preffered is another good limit card.

First Tech FCU has a few high limit cards, 2 of them go to 100k I think. They seemingly pull Experian. I got in with them from my tech employer. Still feeling them out, not bad.

Re: Highest Starting Limit Cards for Spree

Crowhelm — Thu, 14 Oct 2021 23:23:17 GMT

@greatscott85 wrote:
@charles23 Take a look at BECU. SP to join. Just picked up a Cashback card and got 20k. They seemingly pull Transunion.

Not sure if you want to pull another Chase card but the Sapphire Preffered is another good limit card.

First Tech FCU has a few high limit cards, 2 of them go to 100k I think. They seemingly pull Experian. I got in with them from my tech employer. Still feeling them out, not bad.

You would be correct, they only pull TransUnion. You forgot to mention they offer a nice $300 sub as well right now. But their cashback is a bit low for us since we got better cards, so ours is sock-drawered. Other than that, great Credit Union.

Re: Highest Starting Limit Cards for Spree

ChargedUp — Thu, 14 Oct 2021 23:27:35 GMT

Elan is a TU puller (usually) and gave me a $25K SL

NASAFCU has a pre-approval page (which is sometimes accurate... it was for me) and gave me a $20K SL instant approval.

Re: Highest Starting Limit Cards for Spree

Anonymous — Fri, 15 Oct 2021 11:17:38 GMT

Based on what you have here. I would for sure say Citi Bank, you have several of their co branded cards, but go for like Citi Double Cash mastercard. They start out with pretty decent CL's and now that you dont have a lot of inquries, and you have the track record with them that is the card you should go for next. Then in about 60 days after approval, ask for a CLI on the Macy's AX it is a SP. Do not go for one on the Best Buy Visa since that one is a HP

Thanks

Mark

Re: Highest Starting Limit Cards for Spree

charles23 — Fri, 15 Oct 2021 19:06:16 GMT

Thank you all for the excellent advice!

For Citibank, for the highest starting credit limit, will the Citi Double Cash give me the highest starting limit of all of their card offerings or can I instead apply for one of Citi's other cards?

Charles

Re: Highest Starting Limit Cards for Spree

FinStar — Fri, 15 Oct 2021 23:22:33 GMT

@charles23 wrote:
Thank you all for the excellent advice!

For Citibank, for the highest starting credit limit, will the Citi Double Cash give me the highest starting limit of all of their card offerings or can I instead apply for one of Citi's other cards?

Charles

Not necessarily. The above advice is YEMV. Traditionally, the Citi Double Cash is not known to give out the highest SLs, but that's also profile-dependent

So, if looking at Citi, chose wisely and decide which card is best suited for your needs, whether you're looking for BTs or something that earns rewards/points/miles. Don't go with the notion that Citi DC could give you the highest SL only to learn after the fact that it did not [for your profile]. Keep in mind that any assigned SLs are based on a lot of factors and computers are making those decisions.

Re: Highest Starting Limit Cards for Spree

charles23 — Sat, 16 Oct 2021 00:58:31 GMT

Thank you FinStar for your excellent advice!

Re: Highest Starting Limit Cards for Spree

SouthJamaica — Sat, 16 Oct 2021 15:19:24 GMT

@charles23 wrote:
I would like advice on what cards I might qualify for in doing a big spree now.

I want to get new cards with high starting credit limits that I can potentially access for balance transfers or cash with decent interest rates JUST IN CASE I should need to do so for my business.

I just recently successfully applied for & received 2 new cards: a 7.1k Navy Platinum Visa & a 15k FBNO Evergreen Visa.

My Fico 8 scores as of today are TU 798, EQ 762, EXP 764

Util 3%

Credit Age 5 yrs 5 mo

Inquiries TU = 1, EQ = 1, EXP = 4

Open Accounts
31,000 Discover it
20,000 Lowes (recent CLI from 2.2k)
15,000 FBNO Evergreen Visa (NEW)
13,500 Macy's AMEX (recent CLI from 6k)
13,000 Sam's MC (recent auto CLI from 8k)
10,000 Chase Freedom Unlimited Visa
9,000 B of A MC (recent CLI from 3.9k)
9,000 Chase Slate Visa
7,100 Navy Platinum Visa (NEW)
5,000 Sam's Plus
3,900 Best Buy Visa
1,500 Pay Pal
1,000 Chase Freedom
700 Kohl's

Income 205,000

Since you're interested in balance transfers or cash, I would suggest platinum cards from Unify FCU and Consumers CU (Illinois)

Just be careful not to mix up your personal finances with your business finances

Re: Highest Starting Limit Cards for Spree

charles23 — Mon, 18 Oct 2021 17:00:43 GMT

Thank you guys for all the expert app spree advice!

A few days ago I applied & was instantly approved for the Citi Diamond Preferred for $4.3k. 16.74%.

Then today I applied & was instantly approved for the PenFed Platinum Rewards for $10k. 16.99%

What to do next? I want to keep the app spree going with maybe another good credit union card or a 2nd card at PenFed. Or, maybe the AMEX BCP with a SP? Or, maybe Wells Fargo?---from previous mariage I have a 1.5 year old closed joint Wells Fargo $10k card reporting with perfect payment history.

But I am going to be up to apply for my 2nd Navy card in the next 45 to 60 days I think---so I don't want to shoot myself in the foot on that---hopefully my recent apps for FBNO, CITI, & PENFED haven't already hurt my chances for that 2nd Navy card.

I just logged into my Experian.com just now:

My FICO 8 scores: FOR: 10/18/21 >>> EX 764 -- 5 inquiries -- 3% uti -- 5 yrs 5 mos (average age)

10/13/21 >>> TU 798 -- 1 inquiry -- 3% uti -- 5 yrs 5 mos

10/13/21 >>> EQ 762 -- 2 inquiries -- 3% uti -- 5 yrs 5 mos

What do you experienced experts think what might be my best next move?

Thank-you,

Charles

Re: Highest Starting Limit Cards for Spree

FinStar — Mon, 18 Oct 2021 17:59:54 GMT

As the OP has provided an update on their approvals, this thread is locked and closed to new messages.

@charles23-- ultimately, the decision is up to you, depending on your overall profile and risk tolerance. Keep in mind that once the new accounts report, there will be AAoA impacts (eventually things will recover over time). That said, you don't want to appear as overextended to some lenders, especially if too many new accounts were acquired over a short timeframe. Either way, best of luck in whatever strategy you decide.