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Suggestions for increasing credit limits? Or, Cards highest initial CL?

GatorGuy
Regular Contributor

Suggestions for increasing credit limits? Or, Cards highest initial CL?

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 

 

Message 1 of 22
21 REPLIES 21
Dumbee
Established Contributor

Re: Suggestions for increasing credit limits?

New cards would be easier to increase your TCL


Smiley Embarassed
Personal/40.15K Biz/23K POT/17K
Message 2 of 22
Remedios
Moderator

Re: Suggestions for increasing credit limits?


@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 

 


Chase cards, use more than 60% of your limit for several consecutive months. If that's not possible due to already high limits, that's exactly how Chase will see it. Limit on a new card will depend on many things if they are willing to extend additional credit. 

 

Cap one, same, except they aren't going to be happy with 60%, you might need to do better than that. Also, Cap One no longer hands out limits like candy. More or less, high limits will need to be earned. 

 

Platinum doesn't have limit per se, so I am not sure what kind of increase are you looking for. Have you encountered difficulties charging over a certain amount? 

 

Target, whenever they feel like it. There is no other card to apply for, so it is what it is. 

 

Penfed, you are certainly allowed to ask for HP CLI or apply for a new card. Hopefully, you're using the one you have so they are motivated to extend you additional credit. 

 

 

Message 3 of 22
FinStar
Moderator

Re: Suggestions for increasing credit limits?


@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 


Depending on where you are with income, Chase overall relationship/assets, and max exposure that they can allow, I can't see Chase increasing your lines anymore than what you presently have.  Perhaps another Chase card might do the trick, but they can potentially carve out from your existing exposure to approve a new card.

Capital One will not grow beyond what you have on a single card.  If your actual usage is around 60%-80% of the limit on a frequent basis, maybe. No guarantees though.

 

So, if you don't mind opening new cards, PenFed or NFCU still have some room.  You can see if AmEx yields any pre-approved offers for any revolvers.

Message 4 of 22
GatorGuy
Regular Contributor

Re: Suggestions for increasing credit limits?


@Remedios wrote:

@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 

 


Chase cards, use more than 60% of your limit for several consecutive months. If that's not possible due to already high limits, that's exactly how Chase will see it. Limit on a new card will depend on many things if they are willing to extend additional credit. 

 

Cap one, same, except they aren't going to be happy with 60%, you might need to do better than that. Also, Cap One no longer hands out limits like candy. More or less, high limits will need to be earned. 

 

Platinum doesn't have limit per se, so I am not sure what kind of increase are you looking for. Have you encountered difficulties charging over a certain amount? 

 

Target, whenever they feel like it. There is no other card to apply for, so it is what it is. 

 

Penfed, you are certainly allowed to ask for HP CLI or apply for a new card. Hopefully, you're using the one you have so they are motivated to extend you additional credit. 

 

 


Thank you for the response. Do you think I have room for much credit limit increases or would I just be better off applying for new cards?

Message 5 of 22
GatorGuy
Regular Contributor

Re: Suggestions for increasing credit limits?


@FinStar wrote:

@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 


Depending on where you are with income, Chase overall relationship/assets, and max exposure that they can allow, I can't see Chase increasing your lines anymore than what you presently have.  Perhaps another Chase card might do the trick, but they can potentially carve out from your existing exposure to approve a new card.

Capital One will not grow beyond what you have on a single card.  If your actual usage is around 60%-80% of the limit on a frequent basis, maybe. No guarantees though.

 

So, if you don't mind opening new cards, PenFed or NFCU still have some room.  You can see if AmEx yields any pre-approved offers for any revolvers.


I was hestitate to use a HP on Chase CLI because I didn't want to do it and then get nothing or only a few thousand increase. 

Message 6 of 22
Remedios
Moderator

Re: Suggestions for increasing credit limits?


@GatorGuy wrote:

@Remedios wrote:

@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 

 


Chase cards, use more than 60% of your limit for several consecutive months. If that's not possible due to already high limits, that's exactly how Chase will see it. Limit on a new card will depend on many things if they are willing to extend additional credit. 

 

Cap one, same, except they aren't going to be happy with 60%, you might need to do better than that. Also, Cap One no longer hands out limits like candy. More or less, high limits will need to be earned. 

 

Platinum doesn't have limit per se, so I am not sure what kind of increase are you looking for. Have you encountered difficulties charging over a certain amount? 

 

Target, whenever they feel like it. There is no other card to apply for, so it is what it is. 

 

Penfed, you are certainly allowed to ask for HP CLI or apply for a new card. Hopefully, you're using the one you have so they are motivated to extend you additional credit. 

 

 


Thank you for the response. Do you think I have room for much credit limit increases or would I just be better off applying for new cards?


Well. you dont have to answer this, but are you asking just because you think $500,000.00 is a nice number or are you using significant portion of all your limits to the point of having to make multiple payment per month? 

 

 

Message 7 of 22
GatorGuy
Regular Contributor

Re: Suggestions for increasing credit limits?


@Remedios wrote:

@GatorGuy wrote:

@Remedios wrote:

@GatorGuy wrote:

I regularly request a credit limit increase but recently have not seeing any increases. I am not sure if it is because my limits are maxed out for the cards I have. I would really like to grow my overall CL to over $500k. Should I keep requesting credit limit increases or would I be better off just going for new cards? Especially the Chase ones, I am not sure if I should waste a HP on a CLI or just open a card and wait a year to combine limits. My most recent scores are between 780 and 810. Any advice would be appreciated. 

 

CSR  $43k

Amazon Prime $12k

Chase Freedom $35k

Chase Freedom Unlimited $25k

CapitalOne Venture $57k

Penfed CashRewards $20k

NFCU Flagship Rewards $49k

Target RedCard $7.5k

Amex Platinum

 

 


Chase cards, use more than 60% of your limit for several consecutive months. If that's not possible due to already high limits, that's exactly how Chase will see it. Limit on a new card will depend on many things if they are willing to extend additional credit. 

 

Cap one, same, except they aren't going to be happy with 60%, you might need to do better than that. Also, Cap One no longer hands out limits like candy. More or less, high limits will need to be earned. 

 

Platinum doesn't have limit per se, so I am not sure what kind of increase are you looking for. Have you encountered difficulties charging over a certain amount? 

 

Target, whenever they feel like it. There is no other card to apply for, so it is what it is. 

 

Penfed, you are certainly allowed to ask for HP CLI or apply for a new card. Hopefully, you're using the one you have so they are motivated to extend you additional credit. 

 

 


Thank you for the response. Do you think I have room for much credit limit increases or would I just be better off applying for new cards?


Well. you dont have to answer this, but are you asking just because you think $500,000.00 is a nice number or are you using significant portion of all your limits to the point of having to make multiple payment per month? 

 

 


It would make sure that I almost never go over 10% overall utilization in a given month.

Message 8 of 22
firefox100
Established Contributor

Re: Suggestions for increasing credit limits?

 

First what is your income, If you have not open any new credit lines or have any new inquies in the last 12 months then tri for the US bank Visa cash+ card, I have the US bank visa cash+ credit card which started out August of 2019 at limit of 14.5K and today it is at 24.5K. I also have a Altitude go visa with a credit limit of 15K, have total US bank limits of 39.5K on income of 85K, with total credit limits of 245.450K If you have open any new accounts in the last year don't apply for any US bank cards then try going for PayPal mastercard by Synchrony they can go fast , you can request cli every 3 months. good luck.

Message 9 of 22
Remedios
Moderator

Re: Suggestions for increasing credit limits?

So, if your current spend is $50,000.00 per month (based on not wanting to go over 10%), is it all personal, any business spend included and how much of that is current vs carrying balance?

Might seem intrusive, but all of it is important. 

If you have business, you might want to look into business cards so that utilization isn't an issue.

If you are currently carrying balance, it might affect both new account app and CLI, so that's why I asked. 

 

You could try for a new card with Chase, and if you aren't approaching ceiling with income, they might approve it, or approve but only via reallocation from existing accounts, making it a zero sum game.

Cap One, currently $10,000.00 approval would be a success story, but maybe it will be different for you. 

 

Seems like Penfed and NFCU might be your best shot, depending on what your CR looks like.

 

Another option, go with lenders with whom you have no exposure. Might have better chance that way. 

 

 

 

Message 10 of 22
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