When to apply to get higher Starting Limits?

[Anonymous]

MF needs to start a brand new section entitled "high credit limits".  This is the #1 question asked on this site.  If the truth were known, I would think bank's algorhythms factor in what your current limits are.  If you have 5 cards at $500 then you're probably not magically gonna get a $10k card outside of Navy.

Here's the answer to high limit credit cards.  Apply for cards with SP CLIs.  Preferably cards which give many CLIs.  Work the CLIs on these cards until you get them between $10k and $20k, even if it's a Lowes card.  Do not continue applying for cards if you have 2 or 3 at $500.  Your high limits will only come after you have other high limit cards.

[PerArduaAdAstra]

Thanks for the link to Dell prequal! I forgot to mention I’ve had a WebBank Fingerhut account since the beginning of my journey so I have some history with them!

The prequal says I’m approved for “up to” $2k... Do you guys know how accurate these prequal SL are? I know I read IKEA will tell you you’re good for “up to” $4500 then give you $500 SL after HP, how about Dell? If I could get $2k through them I could get my computer, garden and SP CLI for a loooong time.

Thanks again guys!!

[GApeachy]

---

@Anonymous wrote:

I would give it 3-6 months. Once you have established history with your large limit card, you should be able to get approved for larger limits than your other cards. NFCU is a gateway card for many of us. When my NFCU Plat went to $12,700, Disco bumped me to $12,700 a few months later. Now I have also gotten a $10K SavorOne and $10K CareCredit and with $18K income and a BK still on file... yep, don't think it would have happened if it wasn't for NFCU. 

---

OP, I think you should follow this ^^^^^  advice.  With the vergiage you got from Dell "up to" is a tale tale sign.  Try to hold off.

[PerArduaAdAstra]

Holding off would definitely be the smartest choice, but man oh man is that $2k prequal tempting! My work laptop is holding on, but it has a busted screen that’s a $900 repair and it’s really not a good look when meeting clients.

I know the “up to” verbiage is not ideal, but it seems everyone gets that. And in the few reports I could find, people are getting SLs that match the prequal. Here’s one thread - https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Approved-for-Dell-Financing-Pre-approval-Link...

However, because the Dell prequal is so new there are very few reports, which is why I was wondering if anyone here had any experience with it.

Having a WebBank account for 2 years and seeing those few reports gives me hope. But not enough to pull the trigger

[GApeachy]

---

@PerArduaAdAstra 

---

Also, your utl would be very high on that acct. Ouch!  All in all....you need to baby your profile for now.  Get a shield or something to hide it from your clients

[Anonymous]

I'm glad you responded about current need. While there is some good general advice about holding off, it does not really address your need for a computer now. I think the best advice you received was put it on the Navy card. Navy does not credit limit decrease for spend. (That is actually an overblown concern in general.  Mostly fueled by Synchrony and Comenity and who hand out credit like candy and also take it away like candy too 😮). 

[PerArduaAdAstra]

Actually I can sell my current laptop and put about $1k towards the Dell account to bring util under 50%. But only after I get a new one! Hence the need for financing.

You’re definitely right that gardening is ultimately the way to go. But brainstorming this laptop purchase is the final thing I wanted to do before setting up the garden and that Dell prequal is very tempting! Especially since I have next to no EX Inq. Literally if I knew I would get approved for $2k it would already be done, I’d be at micro center picking up my new computer, and putting the busted one on eBay. No shield needed! 😋

[PerArduaAdAstra]

Thanks Morpho, I will have to give that option more consideration

[Anonymous]

---

@Anonymous wrote:

MF needs to start a brand new section entitled "high credit limits".  This is the #1 question asked on this site.  If the truth were known, I would think bank's algorhythms factor in what your current limits are.  If you have 5 cards at $500 then you're probably not magically gonna get a $10k card outside of Navy.

Here's the answer to high limit credit cards.  Apply for cards with SP CLIs.  Preferably cards which give many CLIs.  Work the CLIs on these cards until you get them between $10k and $20k, even if it's a Lowes card.  Do not continue applying for cards if you have 2 or 3 at $500.  Your high limits will only come after you have other high limit cards.

---

This is not the number 1 question asked on the site. In general forums are powered by people asking the same questions over and over. There is no harm in doing that. While boardly queations/answers look similar people ask questions in hopes someone can help them with their specific situation, even if there is a large pool of similar situations and answers that are probably good enough. So OP or anyone else; ask away.

[GApeachy]

---

@PerArduaAdAstra wrote:
 I’m not totally afraid to use it, just carrying too much of a balance. 

---

What's your utl. on this card?