Is it possible to ask for a higher starting limit? Approved for minimum SL of 1.5k on WF Propel, but I have a big ticket item I want to purchase that's just under 3k. I could pay cash, but would like to get the points. Is it even possible to get them to reconsider the SL?
This is my 2nd card, 1st card cap1 has a CL of 1.5k more than a year old. My fico8 was 744 before applying for 2nd card.
Has anyone ever successfully negotiated a higher SL? Or are you stuck for 6/12mo?
This is my 2nd card, 1st card cap1 has a CL of 1.5k more than a year old. My fico8 was 744 before applying for 2nd card.
Has anyone ever successfully negotiated a higher SL? Or are you stuck for 6/12mo?
Thanks for the input, I hadn't thought of prepaying that will give me another option to ask about. Though, like you said, it's probably not an option. I know Cap1 only lets me "overpay" by 10% of current balance.
Worst case I'll get points on $1500 worth of the purchase and pay it down before they can report the card is maxed.
Another option I'm thinking about asking for is to forfeit the 0% intro APR in exchange for the boost to SL, but that might also remove the SUB.
Worst case I'll get points on $1500 worth of the purchase and pay it down before they can report the card is maxed.
Another option I'm thinking about asking for is to forfeit the 0% intro APR in exchange for the boost to SL, but that might also remove the SUB.
Unfortunately the store doesn't do layaway, its either all upfront or use their financing backed by cap1 with no rewards. They technically have a no-interest payment plan, but it has an origination fee that's equal to the original purchase cost, which is insane. Just trying to maximize points not pay double lol 
@Anonymous wrote:Given your high score and low SL, I'm guessing you're just starting to establish credit and have a perfect, but short, history.
Just want to throw in that considering my scores and aged history (see sig) I still get relatively low SL. I'm convinced after numerous threads here that at least one component in deciding CL is how much you spend. When reviewing applications they can see highest balance reported on cards. Not sure if they have a way to see or determine how often spend on a card. After getting out of major debt I seldom spend a lot on my cards anymore. But when I applied for the WF CashWise card not too long ago, although I have a WF 25K platinum card that started low but built up over 15+ years when I kept UTL high, I only received a 5K SL for the new card. While I was paying the platinum card down I received several CLI along the way until I got to some point and was not adding to the outstanding balance an only making minimal charges just to show use. I also have several products with them. Long good history. I know the 5K is more than the OPs but I believe it's all relative.
I can't get CLI's with any card because "you have limited use on your card" is always the denial. No lates, no derogs. Although my scores weren't the same when I applied, they were all above 800. Many CC companies like to see a history of high spend to get high SL and CLI.
Just thought I'd share my experience with a well aged history.
That's an interesting point you make about utilization. It makes sense from their perspective as well as to limit their exposure. I've generally kept 6-9% utilization by the time the statement hits to maximize my score based on Google'd advice. My monthly spending is generally closer to 30% but I pay down before statement. With Cap1 they've given me 2x CLI's without my asking, but they have records of my transactions to help weigh their decision. My actual credit report does show entries for "high utilization" in-between statements though, but then the statement is significantly lower when it posts.
All the advice columns suggest keeping utilization low to have a better chance of CLI's. Is <9% too low?
Edit:
I plan to garden these two cards for another 12+mo prior to first mortgage attempt. That timeframe will also coinside with my only 30d late payment on a closed auto loan falling off report due to 7y rule
All the advice columns suggest keeping utilization low to have a better chance of CLI's. Is <9% too low?
Edit:
I plan to garden these two cards for another 12+mo prior to first mortgage attempt. That timeframe will also coinside with my only 30d late payment on a closed auto loan falling off report due to 7y rule
