topic Re: best company to get a high cl card in Credit Cards

best company to get a high cl card

longclimbback — Mon, 25 Mar 2013 19:32:22 GMT

After years of rebuilding, I've had 800 scores with tu for about a year. Exp is probably the same because its exactly the same information. Equifax is about 740 because a lot of my data isn't listed and because of this my file is thin, but there is no negative information. I have a c1 and a boa card each with a $5000 limit. I also have a lowes card and a hsbc with $500 limits from the rebuild. The c1 and boa cards I frequently charge $2000 per month each but usually pay in full each month. The other two I never use but they are still active. I want to get another card or a higher limit on the ones i have, but I would like to get it on my first try. I'm shooting for at least a $10000 limit on one of the cards I have now, or a new card. My income is about $70000.
So do I try for a cli with c1 or boa whom I have awesome history with or apply for a new card? If I apply for a new one what company gives out high limits to new applicants? In closing I will make sure my accounts will read close to zero when they check my report. Also I guess if I apply for a new card, knowing which ones typically look at tu or exp would be to my benefit. Thank you for any help.

Re: best company to get a high cl card

zerobacan — Mon, 25 Mar 2013 19:36:20 GMT

I would go with a Credit Union

With a.score like yours PenFed sounds the best choice

Re: best company to get a high cl card

Anonymous — Mon, 25 Mar 2013 19:36:33 GMT

How long have you had the Cap1 and BofA cards?

Re: best company to get a high cl card

longclimbback — Mon, 25 Mar 2013 19:39:17 GMT

I've ha each for about 5 years. Never late, regularly charge 2000+ each month then pay in full.

Re: best company to get a high cl card

Anonymous — Mon, 25 Mar 2013 19:42:39 GMT

First of all, congrats! It looks like your hard work and effort has paid off!

As far as major credit card lenders that award high starting CLs, usually AMEX would be number one followed by Chase

The majority of the decision as to which starting CL to give a customer depends on the customers current credit limits as well as income (which is big factor in the CL the lender gives you).

I received my first 5 digit CL from Chase with the Chase Sapphire Preferred this month ($10,000). Chase was also the first to give me limit higher than $3500, which was back in September when I applied for the Freedom and was instantly approved for $7,500. I make 60K per year.

Re: best company to get a high cl card

Anonymous — Mon, 25 Mar 2013 19:43:06 GMT

I just successfully upgraded my BOA card and got a CLI. The card was a 500 CL and I increased it to 1500. I probably could have gotten more, but I really don't plan on using it too much any more now that I've been approved for bigger rewards cards. I've had the card since 09, so it's got a long history. Based on my experience, and if you don't have a lot of inqs showing up on your report at the moment, I would try and go for a CLI on the BOA card.

If they deny you or the give you a lower limit than what you want, recon and explain your situation to them.

Re: best company to get a high cl card

Anonymous — Mon, 25 Mar 2013 19:43:13 GMT

+1, Yep. It looks like you are Chase/AMEX material. Good job!

Re: best company to get a high cl card

longclimbback — Mon, 25 Mar 2013 19:44:58 GMT

Amex and chase both went to collections on me 8 years ago. The chase I think I paid in full, the amex was settled with the ca. I probably should avoid those two. My only other baddies were with citibank .

Re: best company to get a high cl card

09Lexie — Mon, 25 Mar 2013 19:51:55 GMT

Any CU, Discover and Barclays.

Re: best company to get a high cl card

Anonymous — Mon, 25 Mar 2013 19:59:03 GMT

Amex, yep .......

Re: best company to get a high cl card

namvet — Mon, 25 Mar 2013 21:18:39 GMT

IMO give USAA a shot!

Re: best company to get a high cl card

longclimbback — Wed, 27 Mar 2013 12:46:42 GMT

I live in ny. What reporting agency do usaa and penfed use for applications?

Re: best company to get a high cl card

boomhower — Wed, 27 Mar 2013 12:57:43 GMT

If eligible, NFCU and USAA. If not PenFed and/or DCU.

Also call the GE underwriters on your Lowes card, $5k should be no sweat.

Re: best company to get a high cl card

kevinjjc — Wed, 27 Mar 2013 13:03:05 GMT

@longclimbback wrote:
I live in ny. What reporting agency do usaa and penfed use for applications?

Equifax

Re: best company to get a high cl card

Anonymous — Wed, 27 Mar 2013 13:40:17 GMT

First you should call the back door number for lowes and ask for an increase on that, its backed by GE and they are usually good with increases, shoot for the sky when they ask how much you want it increased to, they usually counter if request was to high. Then i would call BOA and ask for increase, shoot high too because they will counter also. BOA pulls transunion for increases even though they pull experian for initial app, and BOA is always a hard pull. If you have good outcomes with those increases then you should wait for them to report the new limits to the bureaus then app for Chase sapphire preferred and take advantage of their killer sign up bonus and then maybe you should try amex. I have both BOA and Lowes card and advice is based on my current experience with them. I got approved this Feb with Lowes with initial cl of 3000, i called back door number right away and had that increased to 6000. Then i had my secured BOA card gratuated to unsecured cash rewards but they only increased from 800 to 1000 (hard pull) then i called BOA a week later again and asked them to recon credit limit to 5000, they countered back at 3000 and i happily accepted. Another hard pull for that one but worth it to me. I waited for limits to report then 2 days ago i apped for Chase Sapphire Preferred (which i thought was way out of reach for me) and i was approved right away $5000 starting limit. Lowes is the only other card i had above 5000 and only 1 month old account so you should be good for higher starting limit. By the way chased pulled both experian and equifax and my scores were 725 equifax fico and 748 experian lender pulled fico had 9 inquiries on both bureaus from car loan shopping mostly. And just for a thought i also applied for amex BCE same day i appep for CSP and app was declined. Good luck and keep us updated!!

Re: best company to get a high cl card

Anonymous — Wed, 27 Mar 2013 13:41:16 GMT

Sorry for long post trying to give you my best adviced :-)

Re: best company to get a high cl card

kevinjjc — Wed, 27 Mar 2013 13:48:59 GMT

YMMV. I personally owe it to PenFed for my high credit limits.

Re: best company to get a high cl card

longclimbback — Wed, 27 Mar 2013 14:42:48 GMT

Thanks for the advice. My accouts post at the beginning of april. I'll make sure my accounts are near zero then do the cli on lowes and boa cards. Looking through my old credit reports, I burned sears, amex, chase, and citi with settled accounts. I don't know how long they keep records for (its been 8 years) but I think i should avoid those companies. Any thoughts? The credit unions all sound great after looking at their websites. I might have a way in at nfcu, but if not the dcu and penfed sound good. Do these credit unions do hard pulls to join? I thought about joining the dcu while I find out about nfcu. Thanks for the help.

Re: best company to get a high cl card

Anonymous — Wed, 27 Mar 2013 15:00:44 GMT

Then yep i would avoid the burned ones too. The credit unions sound great though and dont forget Discover It. They usually low ball starting limits however some other members here have had great success with then, and Discover rewards are awesome. YMMV.

Re: best company to get a high cl card

longclimbback — Wed, 27 Mar 2013 15:34:54 GMT

Isn't discover a sears card?