I've never been the person to have a lot of credit cards. Back in 2008 when the recession began, i had an Amex Blue, Capital one card, Chase gas card, and a kay jeweler card. That was a lot for me! Well, my main cards called me, started asking questions and then i got a notice of credit limit reduction. I decided to cancel them, except for the jeweler card and went to using my debit card only. I did this for a few years, all the while not really caring where my credit stood.
I eventually got a couple cards a few years later, and the last two years or so my scores were in the low 600s due to keeping balances high on the only two credit cards i have, and a less than $1k collection from a hospital that i forgot to pay before i moved.
Now getting to the good stuff... The last 6 months i've been paying down my balances, and i was able to get the collection removed from my file. My scores have jumped from low 600s, to high 700s. And after a few discussions with friends who have the CSP card, i decided that i was missing out on some perks, rewards, and leaving money on the table. So, i decided to apply for the Sapphire Preferred card.
I was instantly approved for a SL of $18,600! I was shooting for $20k so it's close enough! I plan to use this card as my daily so i can rack up points and use them for discounts on the 2-3 trips that my gf and myself take yearly.
It's my first card with that high of a limit, and it feels good. Now, i'm getting more into being knowledgeable about CC perks, keeping my utilization below 9%, and i'm going to shoot for $100K+ total limit between cards.
After hovering in the low 600s it feels good to be back, and to know your score will get you almost anything you want. Especially when i plan to build a house next year, so my new scores will help me with the best rate possible.
Perfect SL for a great card. Congrats!
Congrats on the new card and awesome starting limit!