topic Re: Maximizing available credit in Credit Cards

Maximizing available credit

Anonymous — Fri, 16 Sep 2016 23:43:28 GMT

I would like to maximize the credit available to me. Possibly as revolvers, or as pre approved loans I could draw down as needed.

I have
$5M in private company stock that is hard to sell. Company is doing well with reputable investors but stock sale process is long and I don't want to sell at the moment if I can avoid it as value should increase (Could be used as security for loan?)

About $110k of revolving credit available, mostly as private bank cards so not seen by agencies. I would like to increase this.

TransUnion 720 -- sees $18k worth of credit, 8 month history, 5 accounts, 1 hard enquiry
Equifax 680 -- sees $2k worth of credit 8 month history, 3 accounts, 5 hard enquiries
Experian 700 -- sees $18k worth of credit, 7 month average history, 5 accounts, 5 hard enquiries

I have a $10k Amex card that doesn't show on any agency report. -- can I /should I? Push them to report this?

I am not using any credit other than about $15k on private bank cards that isn't seen by agencies.

Citi recently declined me a card due to short history and too many enquiries. At the same time chase and Amex both gave me cards.

I would like more cards with no fees and low APRs or lines of credit I can draw down. Happy to pay a modest annual fee if card has $10-20k+ annual limit.

What should my next action be?

Re: Maximizing available credit

Anonymous — Fri, 16 Sep 2016 23:48:55 GMT

(Annual salary is $250k)

Re: Maximizing available credit

elim — Fri, 16 Sep 2016 23:56:03 GMT

Amex doesn't report for 2 or 3 statements.

I would wait 6 months from the date of your last inquiry before you app again (which sounds like 4 or 5 months from now). If you are insistent on grabbing a card now and want a high limit, NFCU or Cap1 Venture.

Re: Maximizing available credit

Anonymous — Sat, 17 Sep 2016 00:01:54 GMT

Thanks is the waiting to get a lower APR? Or to increase chances of success?

Re: Maximizing available credit

Anonymous — Sat, 17 Sep 2016 00:07:57 GMT

Not eligible for NFCU (not a US citizen and not from a US family)

Re: Maximizing available credit

SouthJamaica — Sat, 17 Sep 2016 01:05:32 GMT

@Anonymous wrote:
I would like to maximize the credit available to me. Possibly as revolvers, or as pre approved loans I could draw down as needed.

I have
$5M in private company stock that is hard to sell. Company is doing well with reputable investors but stock sale process is long and I don't want to sell at the moment if I can avoid it as value should increase (Could be used as security for loan?)

About $110k of revolving credit available, mostly as private bank cards so not seen by agencies. I would like to increase this.

TransUnion 720 -- sees $18k worth of credit, 8 month history, 5 accounts, 1 hard enquiry
Equifax 680 -- sees $2k worth of credit 8 month history, 3 accounts, 5 hard enquiries
Experian 700 -- sees $18k worth of credit, 7 month average history, 5 accounts, 5 hard enquiries

I have a $10k Amex card that doesn't show on any agency report. -- can I /should I? Push them to report this?

I am not using any credit other than about $15k on private bank cards that isn't seen by agencies.

Citi recently declined me a card due to short history and too many enquiries. At the same time chase and Amex both gave me cards.

I would like more cards with no fees and low APRs or lines of credit I can draw down. Happy to pay a modest annual fee if card has $10-20k+ annual limit.

What should my next action be?

I would say apply for a Capital One Venture card (not Venture One).