100k group please respond

[Anonymous]

I have only posted minimally about my recent approvals because I'm a little overwhelmed by it all. Pleased that lenders had the confidence in me, but a little scared too beacuse I did not expect to get such a high approval rate.

As of 12 days ago after approvals I was at 122k in total credit. 9 recent major credit cards all approved. I did not expect these all to be approved. All 9 of them were mastercards and visas so I'm still trying to adjust to it all.

Today I received J Crew and Barney's CLI's of 5k more between the two of them. 

At this point I don't want to even ask for more CLI's from anyone because I don't want to appear to have too much credit. That probably scares some lenders and I want everything squeaky clean.

I won't be applying for anything going forward as this completes the group of cards I wanted. The only expection will be in 2 full years I will apply for Barclay Hawaiian. I will wait 2 full years as I want to have zero inquiries so Barclay will be super happy. I currently have 2 Barclaycards and don't want them to freak out about all of this. My utilization is around 8-9% so I'm not worried about that.

I'm also not worried about mishandling my new credit, as I tend to be super conservative with credit.

My question to people at the 100k level and above is this: how did you feel when it first happened? What were the best steps you took following getting to this point?

I've closed down a few store cards but that still keeps me at 127k after the CLI's. I'm also trying to zero out as many cards as I can.

I guess I'm looking for affirmation that things will be ok. I'm a little different from some others in that I won't be continuing to apply for anything, since I have enough to make things work. 

I am a little afraid to ask for any more CLI's on cards in months to come though. Won't that freak out existing lenders? I don't want to be considered to have too much credit.

This will be the end of applying for me (no interest in accumulating more cards!). I'm going to manage what I have and I am conservative enough where I won't be stepping out of the garden (except for one brief foray in 2 years with Hawaiian)

Sharing your own personal experience at getting to this point would be great to hear from anyone. Thanks everyone. Thie advice and information you have shared is invaluable and has allowed me to be selective in choosing the cards I wanted. 

p.s.: I am still not a Capital One fan but will tolerate them since they gave me a 15k Venture and a 5k Quicksilver Visa ( ha ha). Loving Total Rewards Visa Signature and their 13k CL so I am a fan there.

Have a fantastic day

[ddemari]

I have 117k in available credit.
My income supports it and my reports are clean. Keep utilization down and if your
Income supports that credit then u r fine.

U seem happy with the cards and content w/ the ability to manage.
Imho, u will be fine. Garden now. And just tak auto cli's.

[Anonymous]

Thanks ddemari, the encouragement is helpful and the information is too. I'm good on the income front and I think I will just take the auto cli's only. I don't want to appear to be seeking out CLI's or that might scare someone.

Barclay's is the main one I worry about but I have been keeping a good relationship with them and will do my best to let them know I will continue to be responsible. I really like them so don't want them to do anything weird.

Planning to consolidate my lame old 3k CL CapOne with the new Venture once the Venture hits the 6 month mark.

I did see my scores go up after working to get my utilization down to 14% (now I'm around 9%), and I appreciate the information on here about doing that. Prior to that I thought 30% was fine and didn't really understand about trying to get most accounts to zero balance. I do now and will continue on that path.

Just a little worried as my oldest CC is 5 years (closed that one) and my AaoA right before the apps was 1 yr 9 months. I don't know how much more the AAoa will go down after this and hope that does not scare anyone either.

[DrZoidberg]

Do people count store cards as part of their overall?

[ojefferyo]

I'm a little over $300k and I'm not worried about lenders shutting me down. However I didn't not get there in a few short months either. If I were you I would let them age some if you are planning on getting more. As long as your profile supports whatever you are going for then there's really nothing to worry about. Only thing I'm waiting for now is to get the CSP, waiting sucks!!!

[Creditaddict]

1. I would not worry about it at all... although $100k is a great milestone, I hardly think it's any milestone that a bank is watching you hit and exceed and raising some flag on your account.

2. Who cares about barlcay... if you are going to plan ALL your other credit dos and don't off of 1 creditor, that's just silly in my opinion.

3. You only need to wait 12 months to apply for Barclay if you want no INQ's because inq's are not in your score past 12 months.

4. I wouldn't stop taking CLI's on current accounts you have because of being over this $100k now... the whole point of establishing long relationship accounts is hopefully higher cl's with said accounts!

My goal now is to have $50k+ with each creditor that I have accounts with and ultimately $100k

My partner and I each are around $40-$50k with Chase

Partner is at $80k with BofA/Fia with 2 cards alone

We are both near $100k with Navy Federal

Just keep your overall util down and barclay shouldn't even blink.

[Anonymous]

Creditaddict, whew, I'm glad you responded. This is all very helpful. 

I will take CLI's if offered, but was thinking it might not be best to seek them out so it does not seem as if I am looking for credit, correct?

I'm pleased with the way it turned out but also still trying to adjust to it all!

[Anonymous]

How much will the AaoA drop, given the above info? Would like to know

[Creditaddict]

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@Anonymous wrote:

Creditaddict, whew, I'm glad you responded. This is all very helpful. 

I will take CLI's if offered, but was thinking it might not be best to seek them out so it does not seem as if I am looking for credit, correct?

I'm pleased with the way it turned out but also still trying to adjust to it all!

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very few lenders are all to concerned about your total credit out there... usually it's how much credit they have lent out.

like navy seems to have a $115k unsecured ceiling (would like to hear if anyone is over that by much)

BofA seems to want to match or be the highest CL my partners has if we ask for it!

for me sync that computer system just gives as it normally does in the weird intervals it does based on what account it is... and i ask about monthly!

comenity i ask almost monthly through automated phone system also... they don't seem to have a clue

i don't take hp's for CLI's often, you could avoid those but the sp ones... no way i would stop asking!

[Anonymous]

Congrats on your recent approvals and obtaining 100K+ in available credit across your TLs!!! I can't offer any advice because I'm not there yet. Thank you for sharing your story and keep up the good work!!!