@Anonymous wrote:I want to get limits just like you have as I am seeing on the personal side. Whats the main ingredient?
It's complicated. There isn't just one ingredient.
As I suggested, read my threads below for more details.
I do have a few tips that might point you in the right direction,
but they aren't shortcuts. There are no easy shortcuts to
high credit limits for most people.
The largest factor for most people is TIME and we're talking many years if not decades.
I've built my limits over three decades and they are actually low compared to some members on this forum who may not even have their limits displayed. And even with some higher limits, I've recently been approved for much lower limits on new cards.
Money talks. But we're talking a **LOT** of money.
So the main exceptions that might speed up the process for the select few elite would be:
- extremely high income (many times more than $100K)
- extremely high assets invested with a bank (Probably high six if not seven figures or more)
- extremely high spend-and-pay patterns (Probably five-figures or more monthly which still takes time to grow)
For all of these, good financial responsibility is still required.
And ironically, the people with a LOT of money may not really 'need' the credit; it's a more of a convenience.
However, none of these exceptions applies to the vast majority of the population.
So we're back to long-term demonstrated financial responsibility ... over TIME.
Read more:
https://ficoforums.myfico.com/t5/Credit-Cards/How-to-get-high-CL-s/m-p/5814975#M1682042
