topic Need a credit card with a nice limit to help decrease consumption. in Credit Cards

Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:07:29 GMT

My util. is very high, around 90%. I need a Credit Card with no Annual Fee and a decent limit just to help bring down my util.

Where might I be able to get accepted? I would just use the card once every 6 months or so to keep it active then PIF. My TU FICO is 729, EQ 701, and EX 708. I have no baddies and no collections.

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:08:14 GMT

whats your highest limit now and what kind of limit are you looking for?

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:09:16 GMT

I would apply with BOA and submit with your app your BT maybe they will not count that creditor in your DTI mix, and utilization mix. Citi also has some attractive rates and 0% bt for 12 months on some of their card products.

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:10:15 GMT

The Highest limit is my Chase Disney, $4500(5.99%). My other card is $4000(7.9%). I also have an overdraft line of $500(11.2%).

Message Edited by wcnghj on 11-13-2008 06:10 PM

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:12:59 GMT

My highest limit is with Citi $16k

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:13:20 GMT

I also have another card with them at 12.1k

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:16:16 GMT

My income is 31k, I'd assume your's is higher?

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:22:45 GMT

I would apply with BOA... My income is around 57k my wife (we are joint on CCs) is 43k

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:24:06 GMT

You have good scores and good TLs, Chase is good to have... See what BOA gives you if you dont like it, talk to recon, you can find the number in the backdoor numbers at the top of the page in the forum, and tell them you want to transfer a balance, I can almost guarantee they will give you a nice limit for some reason they love BTs.

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:24:13 GMT

Your score's are great, but you are probably going to have problems getting a high limit card with 90% UTL.

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:25:36 GMT

Do you belong to a CU where you could possibly get a consolidation loan?

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:27:05 GMT

I guess I will redefine 'nice limit'. I would consider that anything over 5k. I would poss. transfer a total of 6100 if they would approve me for it.

That way I would have 2 cards with a 0 balance. Does citi charge a BT fee?

Re: Need a credit card with a nice limit to help decrease consumption.

wmarat — Fri, 14 Nov 2008 02:28:18 GMT

I would defenetly try BOA. High util. is a problem, but you have IMHO good chance to get a card if not directly as on recon. And do not forget ask CLI on activation.

BTW, if you apply to one of the 0% BT cards you actually can justify pretty high CL.

Good Luck.

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:28:52 GMT

For your 1st BT yes once you are in with Citi they will give you no fee transfers if you call and ask. They also have a life of the balance transfer rates once you are with them a while, I took advantage of that when i bought a boat 12k at 3.9 for the life of the balance with no fee, you cant get a loan at a bank for a boat at 3.9... I think you will be fine as long as you put the BT of the card with the 90% on the app or specify it to recon if you have to call them.

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:29:54 GMT

I personally love Citi.... they are great to work with.

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:33:09 GMT

The best they could do was 9.25%.

I guess it is down to citi or BofA

@Anonymous wrote:
Do you belong to a CU where you could possibly get a consolidation loan?

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 02:34:14 GMT

Good luck!

Re: Need a credit card with a nice limit to help decrease consumption.

MrCredit — Fri, 14 Nov 2008 02:34:33 GMT

Signature loans at CUs are their most risky transactions thats why there rates are high. CUs are very conservative too. You will be happy with either of the two with your scores you wont have any trouble!!

Re: Need a credit card with a nice limit to help decrease consumption.

wmarat — Fri, 14 Nov 2008 02:34:55 GMT

I can not say it about Citi, but can say it about BOA.

@MrCredit wrote:
I personally love Citi.... they are great to work with.

Re: Need a credit card with a nice limit to help decrease consumption.

Anonymous — Fri, 14 Nov 2008 06:22:37 GMT

have you considered taking the consolidation loan(interest will only be few dollars more a month) then in a month or two once your credit has rebounded once 0 balance show opening 1 or 2 0% transfer cards to pay off the consolidation loan?(or just leave it if you dont mind paying ~15 more per month and have security knowing you wont be rate jacked for high util)