Increasing CLs?

[Anonymous]

Hi All,

I've been a reader on the forum for a few months, which has been exceedingly helpful. I'm now finally getting around to making my first post.

Over the past 3 months or so, my FICO scores have all increased from high 500s to high 600s (675-690) after paying off COs in full and getting all CAs deleted. Throughout, I app'ed for and was approved for a few cards:

1. Apple Card, $1k SL (4/2021)

2. Amazon Store Card, $400 SL (4/2021)

3. Amex Blue Cash Preferred, $1000 SL (4/2021) 

4. Chase Freedom Flex, $500 SL (5/2021)

These are now added to my prior existing TLs, each of which have never been late:

1. TD Bank Secured Cash, $500 CL (opened 9/2018)

2. CapOne Quicksilver, $700 CL (opened 5/2019)

As you can see, all of my CLs are very low. I know I shouldn't apply for any more cards for a while, but was wondering what the best method would be to increase these CLs over the short & long terms. For example, how hard would it be to get these to $5k or even $10k? And how long should I expect that to take? I currently pay the cards off about 10-20x per cycle (basically after every transaction or set of transactions). I put ~$3k on the BCP in the first month, but consistently PIF'd and now it is sitting with $0 balance (it's going to report soon). I was intending to do the same with the CFF. Will this type of usage hurt or help me? 

I'm somewhat aware of the 3x CLI with Amex and was hoping to try that out in a few months. Would a similar strategy work with the other cards/lenders? Any info you all could provide would be super helpful! 

Also, extra DP's in case their useful: only negs currently reporting are the paid COs from Discover and First Premier, which will fall off around 6/2022. I also have ~29k of student loans, which I haven't paid a dime on as yet, since they've been deferred (I went straight through to PhD). 

[Sandman771]

With Navy they recommend waiting 90 days/ 3 statement cuts before asking for a CLI. That might be a good model to abide by for these cards. Just retired to the garden for a while. Also research whether they HP or SP for CLIs. Again I think AMEX does SPs. You may also get an offer for another card with them at a higher SL. Good luck and awesome approvals and journey. 

[krisssmmm]

Amazon card is Synchrony, I believe you can request after the 3rd statement cut. You will know when the button pops up on your screen to request more. It's sp Transunion. Good luck and congrats on the new cards. 

[babygirl1256]

@Sandman771 Good information about NFCU as I was just about the hit the luv button . . . I decided to wait until after my 3rd statement cuts in 6/2021.

[Sandman771]

@babygirl1256 its funny with Navy. I got my first card and they say wait 90 days or three full statement cuts whichever is longer. I got a $2000K SL with them. Honestly that is about all I deserved at that point in my life. I waited and hit the luv button got the 7-10 days message. I was like you sorry so and so's. I will show you who is boss. I had asked to go from $2K to $3K. So I apped for the cash rewards card instant approval for $5200. Crazy? 

I asked four months ago for increase on my still $2K card denied. I asked for a $300 increase to the other to round it off to $5500. instant approval. No rhyme or reason. 

[rostrow416]

Store cards try every 4-5 months, regular credit cards every 6-7 months - but only if you've seen a noticable increase in your scores.  

[Remedios]

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@Anonymous wrote:

Hi All,

I've been a reader on the forum for a few months, which has been exceedingly helpful. I'm now finally getting around to making my first post.

Over the past 3 months or so, my FICO scores have all increased from high 500s to high 600s (675-690) after paying off COs in full and getting all CAs deleted. Throughout, I app'ed for and was approved for a few cards:

1. Apple Card, $1k SL (4/2021)

2. Amazon Store Card, $400 SL (4/2021)

3. Amex Blue Cash Preferred, $1000 SL (4/2021) 

4. Chase Freedom Flex, $500 SL (5/2021)

These are now added to my prior existing TLs, each of which have never been late:

1. TD Bank Secured Cash, $500 CL (opened 9/2018)

2. CapOne Quicksilver, $700 CL (opened 5/2019)

As you can see, all of my CLs are very low. I know I shouldn't apply for any more cards for a while, but was wondering what the best method would be to increase these CLs over the short & long terms. For example, how hard would it be to get these to $5k or even $10k? And how long should I expect that to take? I currently pay the cards off about 10-20x per cycle (basically after every transaction or set of transactions). I put ~$3k on the BCP in the first month, but consistently PIF'd and now it is sitting with $0 balance (it's going to report soon). I was intending to do the same with the CFF. Will this type of usage hurt or help me? 

I'm somewhat aware of the 3x CLI with Amex and was hoping to try that out in a few months. Would a similar strategy work with the other cards/lenders? Any info you all could provide would be super helpful! 

Also, extra DP's in case their useful: only negs currently reporting are the paid COs from Discover and First Premier, which will fall off around 6/2022. I also have ~29k of student loans, which I haven't paid a dime on as yet, since they've been deferred (I went straight through to PhD). 

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Apple, you will need to use your card. There won't be CLI unless it sees decent use. 

Amex will be at $1000.00 for the considerable future. You will get increase at some point, but it won't be at 61 days ( I'm doubtful 180 are happening also). That's common for those approved with dirty files, but it's SP, feel free to try. 

Chase, it's a pretty low limit, so there is a chance of auto CLI after a while if you consistently use a big chunk of your credit line.

Chase is always HP for CLIs when consumer initiated, and given the low approval, I wouldn't go that route, just use the card.