Negativity is not helpful

[asking4afriend]

Thanks to the 2-3 members that offered real advice. To those who believe that the way they think/behave is the way other people think/behave, I hope someone catches you for something soon to prevent you from hurting the general public.

[CreditPoor]

No disrespect but my suggestion would be to cancel all your cards and use a debit card. You're not a credit card person and that's okay. Anyone who burns 15 banks and then says they need 98k in credit can't be taken seriously.

I'll also add that you would be an extreme risk to banks considering your default history. If I were to take a wild guess, if you were given those limits you'd have no qualms about liquidating the cards, purchasing the property and jumping ship.

[NoHardLimits]

Given your current credit profile, the probability of your accumulating an additional $98k of credit limits within the next 2 months is around zero.  

When you say you need $150,000 to help with a residency Visa, do you mean you need that amount in liquid assets?  If so, you need to understand that credit limits cannot simply be converted into assets.  

[narcan04]

I think your highest probability of success in making anything like that happen is to go buy a Powerball ticket.

[NoHardLimits]

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@narcan04 wrote:

I think your highest probability of success in making anything like that happen is to go buy a Powerball ticket.

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Might be better to buy a scratch-off ticket.  The payoff isn't as high, but the odds are better.  OP only needs $98k not multi-millions.

[asking4afriend]

Thanks. 

To clarify those cards  were burned over 14 years ago. I was new to credit and became ill and began using credit to live. I no longer buy anything I can't afford. I live modestly and SAVE. I have enough SAVED to buy a home without a mortgage. 

[asking4afriend]

I have enough saved to buy a home without a mortgage. 

[asking4afriend]

Btw, the specific number @ $98,000 was estimated via a simulator. With that additional amount my score would jump 32-36 points. I see many people with similar scores with multiple $50,000 cards. My EX FICO was 791 before my last student loan was added last month. So, I have the SCORES and the INCOME. 

[NoHardLimits]

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@asking4afriend wrote:

Thanks. 

To clarify those cards  were burned over 14 years ago. I was new to credit and became ill and began using credit to live. I no longer buy anything I can't afford. I live modestly and SAVE. I have enough SAVED to buy a home without a mortgage. 

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Even if those defaults no longer appear on your credit reports, the impacted financial institutions will still have that information in their internal records.  The vast number of your burned banks leaves very few on the table for consideration.  Besides, no bank will be the first to extend a $50k credit limit when your current highest limit is less than $6k.  Even with enough saved to pay cash for a home, that amount of deposited money will not open doors to huge credit lines.

Edit to say:  Unless that house is appraised at a value substantially higher thatn $100k.  In that case, maybe you will be better off taking out a mortgage loan or setting up a HELOC.

[CreditPoor]

You still haven't learned anything. You're trying to raise your credit limits to make it appear that you have a high enough savings to obtain citizenship in another country. You then say that you have enough savings to buy a house, if that's the case why do you need the credit?

As previously stated, it sounds like you want the credit to liquidate to buy the house without using your savings. Chances of you getting those approvals with your profile is none. Best suggestion is to use your savings to buy the house