Initial credit lines

[Anonymous]

Is there a rule of thumb as to an initial CL?

I am thinking of the chase freedom, Barlay Ring, or the Cap 1 Quicksilver.

Is it related to my existing CL's?

[Anonymous]

Is there a rule of thumb as to an initial CL? - No, it all comes down to your credit profile.

Is it related to my existing CL's? - Somewhat.  Lenders use your current credit limits to determine what your next limit should be, ability to repay etc..

[Anonymous]

That makes  sense....I figured as much. I guess that I am paralyzed with indecision. I went to some prequal sites and it looks like i'm good to go for many cards. A year ago I was turned down by Sears and given a Barclay Sears MC with 2000 limit.

So I don't know which card Only want one!

Thanks soo much for the input

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@Anonymous wrote:

Is there a rule of thumb as to an initial CL? - No, it all comes down to your credit profile.

Is it related to my existing CL's? - Somewhat.  Lenders use your current credit limits to determine what your next limit should be, ability to repay etc..

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P.S Is there a prequal site here at myFICO?

[Anonymous]

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@Anonymous wrote:

That makes  sense....I figured as much. I guess that I am paralyzed with indecision. I went to some prequal sites and it looks like i'm good to go for many cards. A year ago I was turned down by Sears and given a Barclay Sears MC with 2000 limit.

So I don't know which card Only want one!

Thanks soo much for the input

---

@Anonymous wrote:

Is there a rule of thumb as to an initial CL? - No, it all comes down to your credit profile.

Is it related to my existing CL's? - Somewhat.  Lenders use your current credit limits to determine what your next limit should be, ability to repay etc..

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P.S Is there a prequal site here at myFICO?

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The decision can be tough.  But base it on your needs.  For example, does a cashback card makes more sense than a miles card?  If I may, what are your scores and what do you need the card for?

You said you only want one assessing your needs, a complete picture of your credit file then the community here can then make suggestions and you decide...  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

That makes  sense....I figured as much. I guess that I am paralyzed with indecision. I went to some prequal sites and it looks like i'm good to go for many cards. A year ago I was turned down by Sears and given a Barclay Sears MC with 2000 limit.

So I don't know which card Only want one!

Thanks soo much for the input

---

@Anonymous wrote:

Is there a rule of thumb as to an initial CL? - No, it all comes down to your credit profile.

Is it related to my existing CL's? - Somewhat.  Lenders use your current credit limits to determine what your next limit should be, ability to repay etc..

---

P.S Is there a prequal site here at myFICO?

---

The decision can be tough.  But base it on your needs.  For example, does a cashback card makes more sense than a miles card?  If I may, what are your scores and what do you need the card for?

You said you only want one assessing your needs, a complete picture of your credit file then the community here can then make suggestions and you decide...  

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myFICO 8 .. 702..  717.. 709 ..Not sure which order. They are lower at other sites, however. I think cashback or lower rates is best. I don't travel or dine ( quite boring, actually)

[Anonymous]

FICO scores are what is important. The very good cash back cards are the one's you mentioned previously and I will add Discover in the mix.  But if the ultimate goal is a low APR and cashback card then I'd say the Barclay Ring trumps them.

With Chase, as long as you don't have five new accounts in twenty-four months, you should be fine.  With Capital One, the only downside is they pull all three bureaus when you apply for a card.

Discover will be one pull and not as picky.  So the ultimate decision lies on you.

[SouthJamaica]

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@Anonymous wrote:

Is there a rule of thumb as to an initial CL?

I am thinking of the chase freedom, Barlay Ring, or the Cap 1 Quicksilver.

Is it related to my existing CL's?

---

No there is no rule of thumb.

From my experience Capital One Venture gives the best opening limits.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Is there a rule of thumb as to an initial CL?

I am thinking of the chase freedom, Barlay Ring, or the Cap 1 Quicksilver.

Is it related to my existing CL's?

---

No there is no rule of thumb.

From my experience Capital One Venture gives the best opening limits.

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I noticed that you have Cap 1 Quicksilver. Are you happy with it?