How to Get High Starting Limits on Credit Cards...

[Blessed2Be1]

@NoMoreE46 Yes it is! I spend alot on food, take out, transportation, because they lyft and Uber around quite a bit (I hate to admit it), just normal household things, and entertainment, gas a lot, so it would be good to get some rewards one day. LOL! Sorry for the delay things have been crazy 🤪. Mo is INSANE, BUT I dodged the bullet with my Mom at least, she is going to get a car and let her credit just build with a few low level starter cards. She will be fine! I think the competitiveness in us was just like yeah we have to get it NOW, but talking to you guys I am okay waiting! I do want to start with Navy Fed I have heard great things but Im not sure if I qualify. My Dad was in the military but he is deceased, and I know USAA said that he would have to be a member before he passed which I am pretty sure he wasnt. Hopefully Navy Fed is a little more flexible with their membership rules. Thanks for the great advice!

[Blessed2Be1]

Hey @Aim_High I dont qualify for a signature yet, but when I do how can you make it like yours? I see some other posts that are saying a method: https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/t... but that seems difficult. Do you have a easier way? I thought if I purchased the My Fico plan it would just automatically show up 😂 wishful thinking I guess!

[Blessed2Be1]

@Traveler101 thats something I will definitely be doing! Thanks for that advice! I dont really bnk with a credit union so this will work out great! Thanks and take care!

[Blessed2Be1]

@Aim_High I sent my reply to you to someone else. Sorry this forum is a little confusing. But, yes! Mo is crazy but Im not taking her advice, there was a little competitiveness coming out, but I will garden. I know Ill get there eventually! And my Mom didnt either so thats a good thing!

[NoMoreE46]

Good luck with your progress.  Speaking of which -  you are granted signature & picture rights when you rank up to 'Member.'   Just keep replying and asking/replying and you will get there to Member  soon.

[Anonymalous]

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@Blessed2Be1 wrote:

@NoMoreE46 Yes it is! I spend alot on food, take out, transportation, because they lyft and Uber around quite a bit (I hate to admit it), just normal household things, and entertainment, gas a lot, so it would be good to get some rewards one day. LOL! Sorry for the delay things have been crazy 🤪. Mo is INSANE, BUT I dodged the bullet with my Mom at least, she is going to get a car and let her credit just build with a few low level starter cards. She will be fine! I think the competitiveness in us was just like yeah we have to get it NOW, but talking to you guys I am okay waiting! I do want to start with Navy Fed I have heard great things but Im not sure if I qualify. My Dad was in the military but he is deceased, and I know USAA said that he would have to be a member before he passed which I am pretty sure he wasnt. Hopefully Navy Fed is a little more flexible with their membership rules. Thanks for the great advice!

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If your dad was a vet who was honorably discharged, you qualify for membership with Navy Fed. It doesn't matter if he was a member. Navy is far less restrictive than USAA.

When you call to join, they won't even ask his name, just his branch. They primarily rely on the honor system. But it's good to have proof, because they do sometimes go back and audit and potentially close accounts. The document you typically want for proof is a DD-214. If you don't have a copy already, you can apply for one as next of kin through the National Archives. This is completely free, though they're not always very quick.

Link to the relevant page at the National Archives: https://www.archives.gov/veterans/military-service-records

[MileHigh96]

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@Anonymalous wrote:

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If your dad was a vet who was honorably discharged, you qualify for membership with Navy Fed. It doesn't matter if he was a member. Navy is far less restrictive than USAA.

When you call to join, they won't even ask his name, just his branch. They primarily rely on the honor system. But it's good to have proof, because they do sometimes go back and audit and potentially close accounts. The document you typically want for proof is a DD-214. If you don't have a copy already, you can apply for one as next of kin through the National Archives. This is completely free, though they're not always very quick.

Link to the relevant page at the National Archives: https://www.archives.gov/veterans/military-service-records

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I can attest to this.  It took about 18 months for me to get the paperwork concerning my late father so I would have the proof if needed when I applied to join NFCU.

[nopls]

1k to 20k is pretty impressive, I've not seen much of that.

For me (2 year credit age) the progression for my starting CLIs have been:

Petal 1: 500 

Cap1 Quicksilver 1: 500

Cap1 Quicksilver: 3000 (after I increased the CLI on my petal 1 to 1k)

Apple Card: 6k

Amex BBP: 8k

Cap1 Savor: 10k

Many months of no missed payments and consistent spending in between those applications. Hope this gives you a better idea of how your future credit limit situation might progress.

[Beefy1212]

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@nopls wrote:

1k to 20k is pretty impressive, I've not seen much of that.

For me (2 year credit age)

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My 2.5 year journey is 0 to 126k

[Anonymalous]

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@Beefy1212 wrote:

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@nopls wrote:

1k to 20k is pretty impressive, I've not seen much of that.

For me (2 year credit age)

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My 2.5 year journey is 0 to 126k

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Mine was 1.5 years to 55K, but I'd easily be well above that if I hadn't stopped asking for CLIs and applying for new cards.

I took a somewhat slower pace than many other new files on the board, but that $55K is spread across only 5 cards (+1 $2K AU), so I think it worked fairly well. The reason I took that route is my first card had a limit so low it was a pain to deal with (CL of $300), so I decided high limits were a priority. So I optimized my score as much as possible, spread out my applications every 3 to 9 months, and targeted lenders who are known for high limits and being friendly to new files.

@Blessed2Be1, a similar approach might work for you. The first trick is to slow down your velocity, and space applications at least 6 months apart. Applying for a lot of cards in a short period of time is a guarantee of lower limits. A year might work better, but 6 months does seem sufficient.

The second trick is make sure your score is as high as possible when you apply. That means managing utilization so it's very low, ideally below 4%, or at least 8.9%, both on individual cards and in aggregrate. Installment loans have similar thresholds, though I'm not as familiar with them. Getting added an AU on an old card with low or no regular utilization is another option, though many lenders will discount those bonus points, so it's often more miss than hit (miss with Chase, hit with NFCU, etc.). An SSL loan is another trick, but only really helps if you have no open installment loans, and you seem to have too many already. Also consider the lender's internal scores -- many relationship banks (and especially CUs) look favorably on other types of accounts, setting up direct deposit, using their cards, and so on.

And the third trick is to target lenders like Navy. FNBO was also good, though perhaps not any longer (the economy seems to have them spooked, and they've pulled in their geofence). Amex might be another (that x3 first CLI), and some of the big national credit unions as well. Though with all the negative economic indicators, lenders may not be as generous as they were a year or two ago.