CL Question.

[Anonymous]

I notice a lot of people on here are getting approved for multiple cards but they have very low limits. I was wondering how long it takes to get cards with higher limits (10k plus) and how to go about building history to get those kind of cards? 

[sarge12]

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@Anonymous wrote:

I notice a lot of people on here are getting approved for multiple cards but they have very low limits. I was wondering how long it takes to get cards with higher limits (10k plus) and how to go about building history to get those kind of cards? 

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It varies, but most issuers want to see good card management on the lower limit cards for a year or more. You should ask for limit increase on the lower SL as often as allowed with a soft pull. As you show a history credit worthiness, the SL offered on future card applications will increase. History takes time, and there are no reliable short cuts that I'm aware of. Steer clear of store cards if you wish to build a strong portfolio. Your DTI and income will also play a strong role in what potential card issuers will set as your SL. Most credit card holders who are offered 10k plus starting limits have years of responsible credit management on their credit reports.

[Anonymous]

For me, I didn't get any large limit approvals other than from a Credit Union to begin with PenFed started me at 10K it was my highest in recent history. Once I completed the survey they gave me 7K more.

Just this last friday I got a 16K BBVA Compas card as an initial approval. I was in the bank opening accounts for a SUB and they offered the CC so I accepted.

So, I would get in with a CU that will get you a larger limit and try to get the rest to match it. Just my opinion.

[ChessChik47]

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@Anonymous wrote:

I notice a lot of people on here are getting approved for multiple cards but they have very low limits. I was wondering how long it takes to get cards with higher limits (10k plus) and how to go about building history to get those kind of cards? 

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Hi!  What does your credit profile (scores, utilization, debt, etc.) look like?  Providing that information will give folks more to react to and get better advice from them.  In general, it takes a good profile to be offered starting limits that are 5 figures.  That profile would have scores well into the 700s, low utilization, and no baddies at all (no lates, no negatives on any credit bureau report, etc.).  If your profile does not fit that description, I would recommend gardening and going through your reports to make sure only the good stuff is showing.   As some folks have said before, credit is a marathon not a sprint.  

[My_Fako]

I disagree...

It's not necessary to have a clean report. To receive higher starting lines. If your negs are older 2+ years old, and your positives out way your negatives...

It will hinder getting the best APR's though.

Just my experience & two cents.

[Anonymous]

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@Anonymous wrote:

I notice a lot of people on here are getting approved for multiple cards but they have very low limits. I was wondering how long it takes to get cards with higher limits (10k plus) and how to go about building history to get those kind of cards? 

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It took me less than two months to receive a high CL (not yet $10k, but if I get a SP by Citi in 6 months). Late-Jan. I applied for Merrick and Chase, got $700 and $500 respectively. After two months of positive reporting, app'd for Citi. Approve for $7,600. After three months of use on Chase, I just received an increase. Not sure if it's my profile specifically, but my credit score was hurt from not having revolving. My profile is relatively clean besides TU with 6 medical charge-offs. 

[Anonymous]

Different for everyone for sure.

Some merge CLs and/or move CLs around as well to have their cards at $5k or more.

[Peteyglad]

Quite a few factors are at play including the person's overall profile (score, income, aaoa, etc), whether or not a card is known for high limits, the criteria for obtaining a card, etc.

Even with my profile I still get a wide range of limits.

[Anonymous]

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@sarge12 wrote:

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@Anonymous wrote:

I notice a lot of people on here are getting approved for multiple cards but they have very low limits. I was wondering how long it takes to get cards with higher limits (10k plus) and how to go about building history to get those kind of cards? 

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It varies, but most issuers want to see good card management on the lower limit cards for a year or more. You should ask for limit increase on the lower SL as often as allowed with a soft pull. As you show a history credit worthiness, the SL offered on future card applications will increase. History takes time, and there are no reliable short cuts that I'm aware of. Steer clear of store cards if you wish to build a strong portfolio. Your DTI and income will also play a strong role in what potential card issuers will set as your SL. Most credit card holders who are offered 10k plus starting limits have years of responsible credit management on their credit reports.

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+1...income factors into  starting CL

[Anonymous]

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@Peteyglad wrote:

Quite a few factors are at play including the person's overall profile (score, income, aaoa, etc), whether or not a card is known for high limits, the criteria for obtaining a card, etc.

Even with my profile I still get a wide range of limits.

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+1..also