Hello myFICO members,
I was approved for a Citi Double Cash with a starting Credit Limit of $9,200. I was hoping for $12,000. However, I’m hoping the Double Cash will grow with time. From what I’ve read, I can take advantage of a soft pull Credit Limit increase in 3-6 months. Can anyone confirm?
For the past couple of years, I have had great trouble with Capital One in regards to Credit Limit increases. FICO score has increased, but not the limit of the Quicksilver MasterCard. Regardless, I learned of ‘bucketing’ and found an excellent thread (I have since lost this link, please provide if you have it) with an excellent myFICO member, who went into the great detail of how cardholders are kept in certain tiers (or classes) based on your risk at the time of application.
The Quicksilver MasterCard is the only flat-rate non-specific category card I have, which means that I tend to make more purchases with it compared to other cards that I have. With that said, the small Credit Limit of $6,250 often creates short term negative consequences regard to utilization.
Once I receive the Double Cash, I will close the Quicksilver Mastercard. Which is the first trade line I have established. Originally which was a Platinum Mastercard, then a Quicksilver One Mastercard.
This is the first step of re-evaluating current lending relationships. Which consists of closing trade lines which aren’t continuing to grow or are no longer useful, as I take the next step into the credit journey. More to come. Data points below are before application.
Age: 26
Annual Income: $38,000.00 (Base)
Monthly Rent/Mortgage Payment: $0
TU FAKO (Provided by Credit Karma on (9/10/18): 802
TU FAKO (Provided by Capital One on 9/9/18): 802
TU FAKO (Provided by Chase on 9/10/2018): 802
EQ FAKO (Provided by Credit Karma on 9/10/18): 797
TU FICO (Provided by Barclay on 8/12/18): 769
TU FICO Score 8 (Provided by Discover on 9/4/18): 769
EQ FICO Bankcard Score 02 (Provided by Huntington on 8/14/18): 776
EX FICO Score 8 (Provided by AMEX on 8/15/18): 779
EQ FICO Score NG 2 (Provided by PenFed): 789
Credit Card Utilization Rate: 2%
Percent of On Time Payments: 100%
On Time Payments: 330
Total Payments: 330
AAoA: 3 YR 10 MOS
Oldest Open Trade Line: 5 YRS 7 MOS
Newest Open Trade Line: 2 YRS 4 MOS
Total Accounts: 8
Total Credit Limit: $79,550
TU Inquiries: 0
EQ Inquiries: 1
EX Inquiries: 0
Total Inquiries: 0
Derogatory Marks: 0
Current Credit Cards
Capital One Quicksilver Mastercard
APR: 26.65%
Credit Limit: $6,250
Card issued: Jan/2013
Credit Card Utilization Rate: 18%
Chase Freedom Visa
APR: 20.74%
Credit Limit: $4,500
Card Issued: Jan/2014
Credit Card Utilization Rate: 0%
Barclaycard Rewards Mastercard
APR: 22.74%
Credit Limit: $7,100
Card Issued: July/2014
Credit Card Utilization Rate: 0%
American Express Blue Cash Everyday
APR: 17.74%
Credit Limit: $22,200
Card Issued: Nov/2014
Credit Card Utilization Rate: 0%
Huntington Voice World Mastercard
APR: 19.49%
Credit Limit: $3,500
Card Issued: Nov/2014
Credit Card Utilization Rate: 1%
Discover It
APR: 16.74%
Credit Limit: $28,500
Card Issued: May/2015
Credit Card Utilization Rate: 0%
PenFed Promise Visa
APR: 15.74%
Credit Limit: $7,500
Card Issued: June/2015
Credit Card Utilization Rate: 1%
Congrats on the nice card and SL. Better than the QS indeed.
I PCed to the same card today after my vanilla MC that was just graduated. Albeit with a much smaller limit hehe.
I PCed to the same card today after my vanilla MC that was just graduated. Albeit with a much smaller limit hehe.
Congrats....
+1 CC, insanely good sl. Should reach your 12k goal with 1st sp increase.
Congrats
. Should reach your 12k goal with 1st sp increase.Congrats
DILLY DILLY
Congratulations!
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