topic Your CL seem above average to me. You have to remember t... in Credit Cards

Credit Card Limits

Drew — Mon, 29 Jul 2013 16:14:41 GMT

Hey All,

My credit limits seem pitiful when I compare them to others on the board. My AAoA is 1.6 years and credit score is 720-730. Are the limits in line with where they should be or do they seem low? They can be seen in the signature line below.

Re: Credit Card Limits

Happychap — Mon, 29 Jul 2013 16:19:45 GMT

They seem impressive to me! You AAoA is low and your scores are not excellent but good. Your limtis are excellent considering. BTW you could probably buy the whole of Old Navy clothing with that limit.

Re: Credit Card Limits

eddie84 — Mon, 29 Jul 2013 16:21:22 GMT

Your credit limits are way better than mine. lol Shoot, I'd give my right arm just to have that line of credit.

Oh wait... but then I won't be able to sign those credit card slips... oh well, left arm then.

Re: Credit Card Limits

manwoot — Mon, 29 Jul 2013 16:25:49 GMT

@Drew wrote:
Hey All,

My credit limits seem pitiful when I compare them to others on the board. My AAoA is 1.6 years and credit score is 720-730. Are the limits in line with where they should be or do they seem low? They can be seen in the signature line below.

What is your income/housing payment? It could be that your income doesn't support higher credit limits.

That being said, your limits are still great.

Re: Credit Card Limits

Drew — Mon, 29 Jul 2013 16:26:40 GMT

@manwoot wrote:
@Drew wrote:
Hey All,

My credit limits seem pitiful when I compare them to others on the board. My AAoA is 1.6 years and credit score is 720-730. Are the limits in line with where they should be or do they seem low? They can be seen in the signature line below.
What is your income/housing payment? It could be that your income doesn't support higher credit limits.

That being said, your limits are still great.

Income is $98,000.00; I apologize, I forgot to mention that.

Re: Credit Card Limits

kevinjjc — Mon, 29 Jul 2013 16:30:58 GMT

Your credit card limits from your siggy:

American Express Blue Cash Everday $6000
Capital One Cash Rewards $3000
Chase Freedom Visa Signature $5000
Chase Sapphire Visa Signature $10000
GECRB Old Navy Visa $7000
Jared $7650
Kohl's $1500

You're doing great! When did you open the AmEx BCE? Don't forget the 3x CLI's.

Re: Credit Card Limits

Drew — Mon, 29 Jul 2013 16:32:51 GMT

@kevinjjc wrote:

You're doing great! When did you open the AmEx BCE? Don't forget the 3x CLI's.

Opened the Amex in May 2013, but already received the 3x CLI. And, I haven't had any luck getting increases without a hard pull on any other card. Hence the reason why I am feeling lousy about the credit lines.

Re: Credit Card Limits

sccredit — Mon, 29 Jul 2013 16:35:00 GMT

@Drew wrote:
@manwoot wrote:
@Drew wrote:
Hey All,

My credit limits seem pitiful when I compare them to others on the board. My AAoA is 1.6 years and credit score is 720-730. Are the limits in line with where they should be or do they seem low? They can be seen in the signature line below.
What is your income/housing payment? It could be that your income doesn't support higher credit limits.

That being said, your limits are still great.
Income is $98,000.00; I apologize, I forgot to mention that.

With a 1.6 year AAoA I think you are doing very well. They will definitely build over time. I remember (not too long ago) when I had $6k in total credit limits.

One piece of advice (from experience obviously) is to open accounts wisely. I have about 5 accounts I do not use, will not use and are a pain in the ass to keep open. Think it through when opening anything, make sure it is going to be of use for you.

Re: Credit Card Limits

Anonymous — Mon, 29 Jul 2013 16:37:13 GMT

@Drew wrote:
@kevinjjc wrote:

You're doing great! When did you open the AmEx BCE? Don't forget the 3x CLI's.

Opened the Amex in May 2013, but already received the 3x CLI. And, I haven't had any luck getting increases without a hard pull on any other card. Hence the reason why I am feeling lousy about the credit lines.

You can potentially get another 3x 6 months after the last one, which would add another $12K.

While some here have higher CLs than you, many others don't. And remember, hard though it is to believe hanging out here, it's not a contest! Do you have a need for more credit? Some open lots of GE store cards and get large total credit that way, but in some ways this is "junk" credit, mainly used for reducing utilization, which in many cases can be reduced by paying (nearly)in full before the statement cuts.

Re: Credit Card Limits

kevinjjc — Mon, 29 Jul 2013 16:42:29 GMT

@Drew wrote:
@kevinjjc wrote:

You're doing great! When did you open the AmEx BCE? Don't forget the 3x CLI's.

Opened the Amex in May 2013, but already received the 3x CLI. And, I haven't had any luck getting increases without a hard pull on any other card. Hence the reason why I am feeling lousy about the credit lines.

You shouldn't feel lousy. As your AAofA grows, so will your limits.

Re: Credit Card Limits

Drew — Mon, 29 Jul 2013 16:43:14 GMT

@Anonymous wrote:
@Drew wrote:
@kevinjjc wrote:

You're doing great! When did you open the AmEx BCE? Don't forget the 3x CLI's.

Opened the Amex in May 2013, but already received the 3x CLI. And, I haven't had any luck getting increases without a hard pull on any other card. Hence the reason why I am feeling lousy about the credit lines.
You can potentially get another 3x 6 months after the last one, which would add another $12K.

While some here have higher CLs than you, many others don't. And remember, hard though it is to believe hanging out here, it's not a contest! Do you have a need for more credit? Some open lots of GE store cards and get large total credit that way, but in some ways this is "junk" credit, mainly used for reducing utilization, which in many cases can be reduced by paying (nearly)in full before the statement cuts.

I did make the painful mistake of getting a $1500 GAP card I don't need. I have been very careful about not applying for anymore cards, as I really don't have a need. My goal to simply have credit lines above $10000 across the board.

Your CL seem above average to me. You have to remember t...

Anonymous — Mon, 29 Jul 2013 17:25:03 GMT

Your CL seem above average to me. You have to remember that everyone else on this board does everthing possible to increase CL on a regular basis.

Most people I know don't have CL anywhere near that with much better scores.

Re: Your CL seem above average to me. You have to remember t...

OptimalCS — Mon, 29 Jul 2013 18:12:22 GMT

You're off to a great start!!

Keep bal under 10% when you ask for CLIs

Re: Credit Card Limits

takeshi74 — Mon, 29 Jul 2013 19:43:52 GMT

@Drew wrote:
My credit limits seem pitiful when I compare them to others on the board.

Everyone is higher than someone else and lower than someone else. There's no point in worrying over how you compare to others. Focus on your credit. It's not just AAoA and scores but every one of the usual factors that matter.

Re: Credit Card Limits

JonStur — Mon, 29 Jul 2013 20:18:47 GMT

Your limits are great. It's just that customer initiated increases on Chase are HPs...and US Bank is a hard unless you request a small increase like $1500, and you can only do it every six months... Just let them grow and you'll be fine..

Re: Credit Card Limits

missjae — Mon, 29 Jul 2013 21:31:24 GMT

Seems like you have great limits! Just keep growing them.

Re: Credit Card Limits

DrJim — Mon, 29 Jul 2013 21:38:57 GMT

Remember that building credit is a marathon, not a sprint. Three years ago I had no revolving credit. You can see my current limits in my siggy. I had a lower score and my first card was Orchard Bank with a $300 limit. AMEX is your best friend for CLI's. I started at $2K, went to $6K after 61 days. 6 months later it was $18K then $25 six months later. Honestly, I requesed $35K just to see if they would give it to me!

Read the forums, learn, and app wisely. Stick with 3 or 4 prime cards and treat them well. You'll be there before you know it.

Re: Credit Card Limits

Anonymous — Mon, 29 Jul 2013 23:18:13 GMT

Those are great limits for your income/credit history profile. For a lot of people, a 5 figure CL is a lifetime goal.