topic Re: Help finding the right card for High CL in Credit Cards

Help finding the right card for High CL

Anonymous — Wed, 20 Mar 2019 22:40:39 GMT

Hi Everyone,

Wanted to get some advice on getting a card with a high CL.

Also if it is possible to figure out what CL I would qualify for with a soft pull.

Here is the background;

Been working on my credit for the last 3 years and have got it to a good level right now.

FICO score for all 3 CRB’s is between 757 to 781.

I have 5 new accounts in the last 24 months.

Currently have the following cards

Discover IT $14,000

Huntington M.C. $13,900

BofA Rewards Visa $7,000

Paypal M.C. $10,000

US Bank Cash+ V. $5,000

Barclays Apple Rew. $3,000

AmEx EveryDay $9,000

Macys $2,500

Kohls $2,000

Total CL on all cards: $66,400

Utilized revolving credit is only 3%

I have contacted most providers and asked for CLI’s from those that do Soft Pulls.

I am not looking to add a card. Main objective is to add to Available Credit. So basically a high CL Card

I want to avoid getting hard pull (except maybe from the card that I do get).

How can I figure out which provider will give me the highest limit without having hard pulls?

Can a bank / card providor give you a credit limit without doing a HP?

What are the best options in this case?

Thanks

Re: Help finding the right card for High CL

Anonymous — Wed, 20 Mar 2019 23:09:45 GMT

The only one I’m aware of that give a new cc without a HP is AMEX.

Re: Help finding the right card for High CL

Anonymous — Wed, 20 Mar 2019 23:12:19 GMT

I am ok with getting a hard pull from the one card that I pick. but want to know if there is a way to know the possible credit limit from banks without doing a hard pull, so that I can chose one.

Re: Help finding the right card for High CL

Anonymous — Wed, 20 Mar 2019 23:38:22 GMT

Citibank usually gives SP CLI so you might want to add a Citi card. Since you already have amex, they might give a new cards with SP. Also, keep asking existing cards that do SP CLI for increases every 6 months.

You will want to age your accounts some more which is probably next step to get you to next level in building a strong credit profile.

Re: Help finding the right card for High CL

Kforce — Thu, 21 Mar 2019 00:27:38 GMT

@Anonymous wrote:
Is it possible to figure out what CL I would qualify for with a soft pull.
"No"
FICO score for all 3 CRB’s is between 757 to 781. ( Good )
I have 5 new accounts in the last 24 months. ( Not so good )
Total CL on all cards: $66,400 ( Good )
Utilized revolving credit is only 3% ( Very Good )
I have contacted most providers and asked for CLI’s from those that do Soft Pulls.
( All you can do, without hurting scores )

How can I figure out which provider will give me the highest limit without having hard pulls?
You really can't.
Some issuers are known to start higher, but grow slow.
Bank of the West, FNBO, Capitial One (For established credit like you have)
Some start off Low/Medium but grow faster. (Discover, Amex, BofA)
Forum members have been trying to unravel the answers to this for many years.
Results vary a great deal by credit profile.

Can a bank / card provider give you a credit limit without doing a HP?
If you are applying for a new card. (NO)
I do not know of an issuer that will give you a CL range, prior to applying for a card.

What are the best options in this case?
Decide if it is better to wait and let your cards age and receive SP CL increases or pull the trigger and
take your chances.

My personal largest starting CL's were with "Bank of the West" and "FNBO".
Lowest were Barclay's, Citi, and US-Bank
This said I believe rewards / benefits trump high starting CL's.

Re: Help finding the right card for High CL

Peteyglad — Thu, 21 Mar 2019 15:48:43 GMT

Generally bank will not be able to give you a credit limit without you first applying for the card. The only instance I have seen different than this is my local CU. They will occasionally send me preapprovals with a credit limit mentioned. The last one I got said the card would come with a $35k credit limit. This is definitely not the norm though.

Re: Help finding the right card for High CL

UpperNwGuy — Thu, 21 Mar 2019 16:47:31 GMT

OP, you are asking for the impossible. Unless you can leverage your Amex connection, you will get a hard pull, and you won't know in advance whether it is for a low credit limit or a high one.

Re: Help finding the right card for High CL

Kforce — Thu, 21 Mar 2019 17:11:25 GMT

@Peteyglad wrote:
Generally bank will not be able to give you a credit limit without you first applying for the card. The only instance I have seen different than this is my local CU. They will occasionally send me preapprovals with a credit limit mentioned. The last one I got said the card would come with a $35k credit limit. This is definitely not the norm though.

Pre-approvals with a credit limit !

That is a feature none of my CU's provide.

Nice to know it exist.

Re: Help finding the right card for High CL

Peteyglad — Thu, 21 Mar 2019 18:44:24 GMT

@Kforce wrote:
@Peteyglad wrote:
Generally bank will not be able to give you a credit limit without you first applying for the card. The only instance I have seen different than this is my local CU. They will occasionally send me preapprovals with a credit limit mentioned. The last one I got said the card would come with a $35k credit limit. This is definitely not the norm though.
Pre-approvals with a credit limit !
That is a feature none of my CU's provide.
Nice to know it exist.

To be fair I have my mortgage and a car loan through them currently and a closed motorcycle loan so needless to say they know me

Re: Help finding the right card for High CL

Hex — Thu, 21 Mar 2019 19:48:45 GMT

Capital one has been known to give nice high limits on Venture and Savor but it’s no guarantee and there’s an annual fee for each of them. Also it’s 3 HP’s to apply. I would recommend you check the prequal first.

Re: Help finding the right card for High CL

firefox100 — Sat, 23 Mar 2019 19:56:32 GMT

What is your income that you will state, I would go for discover. I have income of 75k and have discover card with cl of 25.5k.

Re: Help finding the right card for High CL

firefox100 — Sat, 23 Mar 2019 20:01:18 GMT

Hi if you don't mind what is your income discover card and Barclay has high cl this is great. What did you do to get such high credit lines.

Re: Help finding the right card for High CL

Anonymous — Sun, 24 Mar 2019 04:03:33 GMT

I have reported income of 96k

Re: Help finding the right card for High CL

firefox100 — Sun, 24 Mar 2019 15:10:34 GMT

the past three months and pay off the balance before end of billing cycle. guy on the phone said that we don't make money if you don't pay intrest on account. I also have Ring master card with 8k cl and no balance on it. last I had balance transfer on it 2k and paid it off before insintrest got charge on it. the guy gave me heads up that many banks are going to in next year or 2 cut cl back we don't make money if you don't carry a balance and just because you pay off balance it may make your Fico score look grat that doesn't make you great customer to the bank.

Re: Help finding the right card for High CL

Kforce — Sun, 24 Mar 2019 19:40:53 GMT

@firefox100 wrote:
the past three months and pay off the balance before end of billing cycle. guy on the phone said that we don't make money if you don't pay intrest on account.
( They make money every time you use the card )

I also have Ring master card with 8k cl and no balance on it. last I had balance transfer on it 2k and paid it off before insintrest got charge on it. the guy gave me heads up that many banks are going to in next year or 2 cut cl back we don't make money if you don't carry a balance and just because you pay off balance it may make your Fico score look grat that doesn't make you great customer to the bank.

Bad Info.
CC issuers want to make money but need to manage risk.   The best customers use the card and PIF. ( Make money and have small risk )   They will make money if you carry a balance but you also look like a higher risk )

CL are determined by a lot of factors and lending institution balance making money vs risk of defaulting.   As profits and risk shift, caused by a lot of outside financial and spending patters, lenders change rewards, CL's, benefits, subs, etc.   I have seen shifts between (No subs, low CL's, no rewards, no BT's) to (700-800 subs, high CL's, great reward, and 3X year BT offers, 3x CL increases in 90 days).   If the Profit/Risk balance changes for the issuing Bank/CU so do the CL's, subs, rewards, BT-offers, etc. A few institution have been lowering benefits, smaller subs, lower rewards, lowering CL's. No big deal, it always goes up and down, just like the stock market, and car loan rates.

Not getting a CL increases is not because you are not giving them 18% interest.   If it was you would be better off getting a high interest checking, using a debit card, and cutting up the CC.   Paying interest is not worth believing you might get a CL increase.
I wouldn't do it if it was guaranteed, give you $500 for $5000 !

Re: Help finding the right card for High CL

firefox100 — Sun, 24 Mar 2019 22:40:32 GMT

I don't know why ther is no text in my last post. her what I said creditcard companys make more from sub prime customers who pay high intrest and lot of late fees and over credit limit charges. The banks want you to carry balance from month to month on your account. They don't make lot on swipe charges, that why banks are now member ship fee.

Re: Help finding the right card for High CL

Anonymous — Sun, 24 Mar 2019 23:15:20 GMT

I doubt they actually want people to carry balances because that exposes them to possible charge-offs if a customer ultimately defaults. On the other hand, a customer that religiously swipes their card and pays their balance before interest is accrued has netted them free money in swipe fees with basically zero exposure to risk. If they didn't want people to pay their balances without incurring finance charges then there wouldn't be a grace period at all and they would be getting interest accumulated from day one.

Re: Help finding the right card for High CL

firefox100 — Sun, 24 Mar 2019 23:54:11 GMT

I don't know why my last post did not come out. so her goes, The reason why creditcard companys have grace period is so customer will feal that he is getting something for free and then spend more then you can aford and then carry balance on your account and pay lot of intrest. the creditcard companys have large spread between what you pay for money on your account and what it cost banks over 10 percent. Why do creditcard companys push lotlot of deals such 6 months same as cash or free balance transfer with 0 percent for year or more because thay know that lot customers are going to not be able tto pay off balance before time is up then get charge high intrest rate. Credit card companys push cash back and rewards because thay want to entice customers to spend on accounts and pay lots of intrest , the banks know what default rate will be. Creditcards are cash cow banks creditcard xcompanys.

Re: Help finding the right card for High CL

Kforce — Mon, 25 Mar 2019 00:09:30 GMT

@Anonymous wrote:
I doubt they actually want people to carry balances because that exposes them to possible charge-offs if a customer ultimately defaults. On the other hand, a customer that religiously swipes their card and pays their balance before interest is accrued has netted them free money in swipe fees with basically zero exposure to risk. If they didn't want people to pay their balances without incurring finance charges then there wouldn't be a grace period at all and they would be getting interest accumulated from day one.

+ 100

I would start using a high interest checking and make those 12 debit swipes every month.

Re: Help finding the right card for High CL

Kforce — Mon, 25 Mar 2019 00:32:00 GMT

@firefox100 wrote:
I don't know why my last post did not come out. so her goes, The reason why creditcard companys have grace period is so customer will feal that he is getting something for free and then spend more then you can aford and then carry balance on your account and pay lot of intrest. the creditcard companys have large spread between what you pay for money on your account and what it cost banks over 10 percent. Why do creditcard companys push lotlot of deals such 6 months same as cash or free balance transfer with 0 percent for year or more because thay know that lot customers are going to not be able tto pay off balance before time is up then get charge high intrest rate. Credit card companys push cash back and rewards because thay want to entice customers to spend on accounts and pay lots of intrest , the banks know what default rate will be. Creditcards are cash cow banks creditcard xcompanys.

My point is if you are the customer that has a balance month to month, and payed a late fee, yes you have given them lots of interest and fees. However you do not have a better chance of getting a card with a large CL or CL increase by doing so. They don't calculate how much they have made from your account, they see how much more of a risk you look like by having a balance and late fee. This thread is about getting a large CL or CL increase Paying the bank interest does not accomplish that.