Good or bad sign for Chase offer?

[vinster95]

@SouthJamaica Thanks for the info! I think I'm just going to apply for the CSR then and see what limit they give me. I can always grow it over time. My one question/"worry" though... I heard you should wait 6 months between getting new cards in order for your score to not take a huge hit. I'm planning on starting a business this fall/winter, that I'll need good credit for, so I'm trying to keep my scores as high as possible. I just got a card in late April. But it didnt first report until June, I believe. So is it 6 months from April, aka the application/hard pull, or is it 6 months from first report date. If its from April, then I'd be ok getting the card in October, which is when I figured I'd get it anyway.

[SouthJamaica]

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@vinster95 wrote:

@SouthJamaica Thanks for the info! I think I'm just going to apply for the CSR then and see what limit they give me. I can always grow it over time. My one question/"worry" though... I heard you should wait 6 months between getting new cards in order for your score to not take a huge hit. I'm planning on starting a business this fall/winter, that I'll need good credit for, so I'm trying to keep my scores as high as possible. I just got a card in late April. But it didnt first report until June, I believe. So is it 6 months from April, aka the application/hard pull, or is it 6 months from first report date. If its from April, then I'd be ok getting the card in October, which is when I figured I'd get it anyway.

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There's nothing magical about 6 months.  If your scores stay good, you should feel free to apply for something good. Just do it gradually, and don't overdo it.

[IsambardPrince]

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@keekers wrote:
I'll never understand why people scoff at 5 digit starting limits. Good luck.

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I saw a guy on Reddit the other day all good and mad that he had a 800+ FICO and six figure income and got a $500 limit from Citi.

He said "this is an insult" and "$500 is a limit fit for a teenager".

Low limits are a way for the credit card people to say you passed, but it was a squeaker. There's something very wrong going on if all they'll start a person like that out with is $500. Maybe he forgot to mention the car loan, the house loan, the boat loan, the Sea-Doo loan, and the 11 credit cards he's struggling with.

You know, income and FICO doesn't matter much at all if they see a lot of stuff going on and go "no...just...uh, no".

I wish more people would prioritize how many outstanding loans they asked for and didn't just go "Ohhh, shiny!" and come home with a Sea-Doo, then wonder why they can't get approved for a credit card.

[FicoMike0]

I'll offer that cl sometimes seems mysterious. I think a high score helps, but there seem to be other factors. Income helps, but dti can be a big factor. Time really seems to help a lot. With amex, I went from $6000 to $27000 in one year.

[nytimestraveler]

Right on!!

[nytimestraveler]

My thoughts exactly!!!

[nytimestraveler]

You shouldn't be carrying a balance on the sapphire anyway so it doesn't matter if your SL if you spent less than 12k and pay it off. Cheers