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

[GatorGuy]

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@designated_knitter wrote:

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@GatorGuy wrote:

I am looking to increase my overall credit limit and was recommended that applying for new cards will likely yield quicker results than CLIs. What cards that you have applied for have given you the highest initial limits?

I already have the following:

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

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Bear in mind NFCU only likes to see 80K total exposure.  So you have 31K left... Assuming you got approved for a second card at the max, that would be 25K so would be bumping up against that.

I might try for another Penfed card as well.

Someone can correct me if I'm wrong but I believe a Personal Line of Credit would count as a "revolving account" so that might work for utilzation.

That said, I can't believe I'm even answering this since something just seems "off" with this thread.  If, as you say, you put through 50K / month in consumer spending and then PIF each month, then why do you care about utilization and the magic number of 500K?

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Thanks didn't know about the $80k max with NFCU. I'm well established with them having bank accounts with them for >6 years so hopefully I could max that out.

As I said before I don't necessarily do $50k every month but that is max I hit. Even if you PIF, it still reports a balance and drives up your utilization. $500k isn't a magic number but rather just the next goal. 

[woodyman100]

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@FinStar wrote:

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@firefox100 wrote:

If you are trying to put 50K per month through credit cards justbe careful, you could be shut down, it could like money laundering. You may want to apply for business credit cards. Some business credit cards don't report to consumer credit bureaus. To get to 500K of can not be done in a day its going to take couple of years. You can get nice credit limits with Bank of America I also have 2 credit cards with BOA which total 41K and also a discover card which has a 29K limit. again good luck.

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@firefox100- if an individual's income supports those limits, and if there is transaction and payment history established that is within the range of $50,000 per month, there should be no issues, especially if these are on the personal, non-business side.  What would be the reason for the shutdown?  Your implied logic makes no sense if any individual happens to be a high income earner and can support those charges.  By the way, money laundering doesn't just occur in a single, large transaction.  Transactions could be structured as well or done in many other forms.

Now, if this isn't the case, the lender could potentially CLD or flag/decline certain transactions (if such payment/transaction patterns are out of the norm).  I've had no issues placing large transactions (single or in the aggregate) within that range in a single month on the personal side.  Similar on the biz side.

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I can echo this. I spend 3xincome pushing business expense on personal cards simply because they have better reward structures. 
Still put plenty of spend on business cards as well