Do you think current limits impact future limits?

[Anonymous]

I am currently trying to test this but have yet to get any results. My highest current limit is $2k. I got a MJC account ($5k) a couple months ago and I am hoping for a big approval/CLI soon to follow suit.

[Anonymous]

I think it tends to be that way if you are building credit.  I went from a 2100 joint amtrak boa WMC fast forward to 25k just me, getting a 15k approval on their ML card.  Once I had the amtrak at 15k, citi went to 15k.  Discover approved me in november at 15k which is pretty high starting limit, 90 days later increased to 20k (but with their middle of the road APR postpromo at 18%).

I am seeing multiple 7.5k limits in my profile. It is starting to bother me because I dont want a future approval unless its from a conservative place like Wells Fargo etc to start me off lower than or equal to that.  Then again I have 3 2k limit cards and I certainly did not get approved anywhere near that for my last 3 apps! (15k, 7.5k, 15k).

[Anonymous]

It definitely seems like the answer as with almost everything credit related is profile-specific.  While someone is rebuilding they may see different results verses a few years after rebuilding.  While someone is growing cards from 4 to 5-digit limits they may get approved for cards with higher limits, but once they obtain a bunch (thus changing their profile) those approval amounts may start getting smaller again. 

[SecretAzure]

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@austinguy907 wrote:
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If you want higher limits then act like you already have them and treat your cards right...quit apping, resist spending to the limti, don't make mutiple payments, get rid of store cards, zap the predators from your profile.  Manage things correctly and take the time to read through some anecdotes before pressing that apply button.  read the T&C's to see what the fine print says and who issues the card to avoid hitting multiple accounts from the same lender i.e sync / commenity.  Put together a game plan of where you want to be and with what lenders.  Sure there's plenty of points and rewards out there if that's what you're into but, do you really need 4-5 cards with the same lender?  Keep things diversified and things will be alright in the long run.  Don't app for something because it's the flavor of the week around here.  Let it simmer down for 3-6 months and see what happens with those accounts over time... do they grow? do they hp for growth? are they risk tolerant?  

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I couldn't agree more. As someone who is meticulous with the cards he gets (after my first two) I can honestly say that I have more options by not seeking credit as ravenously as some do. I went from a secured Cap1 to a gas station card, to my Amex BCE. I built higher credit limits with the Amex. A couple years later while I was already getting offers like mad, I applied for my Ring and Freedom together. I recon'd the limit on Ring to $8500, a couple of months later I got an auto-CLI on the Freedom to $7500 and a shortly after that I hit the cap on my Amex BCE. I have been in the garden since I'm currently home shopping but honestly, my scores are high, I have nearly every credit card open to me as an option and when I do decide to app I don't have to worry about getting a $2K starting limit...because creditors WANT my kind of profile. It's not the thickest but it shows restraint.

5 cards and I have the world of options when I do decide to leave the garden. Take care of your cards and they will grow on their own. Even if they don't it isn't so bad. Listen to Austinguy907, act like you want these bigger limits by not looking like you're trying to get every card with a new perk.

[sillykitty1]

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@Anonymous wrote:

It definitely seems like the answer as with almost everything credit related is profile-specific.  While someone is rebuilding they may see different results verses a few years after rebuilding.  While someone is growing cards from 4 to 5-digit limits they may get approved for cards with higher limits, but once they obtain a bunch (thus changing their profile) those approval amounts may start getting smaller again. 

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I think this is where income comes into play.  IME, with a highish income (and a thick file), approval amounts are peaking at about $30K, and not coming in lower, or getting any feedback about too much available credit.

[Anonymous]

Are you speaking specifically of SLs or limits after CLIs?

[sillykitty1]

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@Anonymous wrote:

Are you speaking specifically of SLs or limits after CLIs?

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SLs either auto approved or after recon

[Anonymous]

This is like the chicken or egg question

The TRUE answer is 'it depends'

It's like asking the formula for falling in love...There a lot of clues, indicators that we can bank on and still be completely wrong in these case, about right in that one ...Yet look foolish the following week.

Because the variables are so vast, given vendor behavior and desire vs market changes etc

I tell my straight 'builders' that for their situation it's generally chicken, egg, chicken

Meaning Score manipulation is 1st and foremost the most important focus upfront, then the SL concern is an advanced issue of little concern for a profile that needs to establish pillars that will get big SL

But the initial DATA required for that stuff to matter is payment history, great debt management and aging...Once those are of a certain caliber the CLs will come.

[BronzeTrader]

It goes both ways. 

When a bank looks at your CC application, it looks at your credit worthiness, income, and bank exposure. 

A low income, low credit quality and history make the bank to give you low CL. Limited exposure.

High income, good credit quaality and history make the bank to give you more credit, and banks compete for your business. But the bank also looks at your bank (like Chase) exposure and your total credit exposure. If your annual income is $100,000 and already have $500,000 total credit and have $100,000 Chase exposure, Chase will be very reluctant to extend more credit to you. Because you already have more than enough and bank wants to reduce its exposure and potential risks.