@Anonymous wrote:I would say try navy fed again after 91/3 they will probabl give you another 25k card.
+1
@Anonymous wrote:Goal is to raise $100,000 for real estate Flips.
Instead of trying to build up huge personal limits on credit cards, you need to legally incorporate a business (doesn't have to cost a ton), write a business plan, open business bank accounts, and then approach lenders about business development loans. While there are people with established personal credit who use that to leverage a start-up business, your personal file doesn't seem to support that. Unless you want to wait quite a few years developing it, going the business development route is probably the better way to do it. And I'm not talking about just applying for business credit cards first. There are less expensive ways to fund a start-up business with a development loan. Once you get it going, you might apply for business credit cards to help with day-to-day funding. And limits on business cards, especially once you get it going and have financial records to support it, can be much higher than personal limits for many people.
@Anonymous wrote:Just got NFCU 25k Platinum but l tried a preapproval with discover and denied says too many accounts, not long enough history yada yada yada. What should I try to get next?
@Anonymous wrote:I would say the number one question on this site is how to get big limit credit cards. It's almost disrespectful. Unless you get lucky it's a matter of standing in line and building a thick, long term credit file. ... After about 10 years you can get $50k-$75k lines on some cards, whereas low income customers may max out at $25k. The key though is first you have to get a thick credit file and work at it for a good decade.
Navy is an outlier.
I have to agree with @Anonymous that expecting high limits with a thin file and looking for the easy way to high limits is almost disrespectful. It generally times a lot of time being responsible with lenders and building those relationships slowly over time. I am a lot farther down the path than you and I also have been exploring high credit limits; however, not so much as looking for shortcuts as just trying to understand the factors that go into credit limits, what I can control, and what I can't.
There's a lot of differences between the profiles you see on the forums and a lot of background info and data points that you can't see in a casual look. We all won't be at the same place. And lenders are at different places too, so limits will vary. Navy FCU is a well-known outlier on this forum. They are much more generous than other lenders and their high limit won't help you get other high ones by itself. You can even get a high limit with Navy and then get turned down completely by other major banks. The high (AU) accounts with Chase also hardly carry any weight compared to high limits on an account where you are primary.
I've read and observed a lot about high limits and written some longer threads on the forums about it. It's a complicated topic, to say the least. If you'd like to read more about what I've learned, go to the link below and then also follow the three links at the bottom to other threads. Hope this helps and welcome to the forums!
https://ficoforums.myfico.com/t5/Credit-Cards/How-to-get-high-CL-s/m-p/5814975#M1682042
@Anonymous wrote:I currently have UNFCU $10,000 Loan,
$500 Navy Fed Secure Loan
$1000 NFCU Blue CC
$500 Secured Card UNFCU
$25,000 NFCU Platinum Card
$30,000 Chase (AU)
$20,000 Chase (AU)
Goal is to raise $100,000 for real estate Flips.
Please don't use AU accounts for investments of any kind. Fairly certain you will not find interest rates that beat Navy. If you want to flip, you are going to have to do (almost typed "due") it with a mortgage. Flipping on revolvers is ...... not recommended.
