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Credit Limit Increase

myjourney
Super Contributor

Re: Credit Limit Increase


@distantarray wrote:

@myjourney wrote:

@distantarray wrote:

@gglam12 wrote:

I currently have a Capitol one rewards card at 10% and a BOA 1-2-3 rewards card at 10% also. I have no car payments or mortage payments. Will it affect my score if I apply for a new card? My avg account age is about 2 years.


Yes it will affect your score but not by much. If you only have 2 cards you'll go from 2 years to 1.33 AAOA but it'll bounce back within 6 months. I don't know about you but there are plenty of cards out there that are DAMN well worth it. Like Chase Ink if you can get approved is a point making machine. 

 

@just on Cable internet phone cellphone bills @ $300 a month will get you 18,000 points a year.   Personally I max out my card for 250,000 points a year ($50k spending) OP please dont try this at home.....Smiley TongueVERY easily Smiley Wink      and I'm not rich it's just a very interesting card. I only need 65k points to travel 11,000 miles round trip (12 hour time zone difference across the world)  when points are transfered to United


 


OP PLEASE try this at home, it's VERY easy Smiley Wink   I make 55k a year, you jus gotta get creative Smiley Wink


Smiley Very HappySmiley LOLSmiley LOL

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 51 of 60
distantarray
Established Contributor

Re: Credit Limit Increase


@gglam12 wrote:

Thanks for all of your help! I will be looking for a good card to apply for after I close on the house. If you can recommend any good cards that would be greatly appreciated. I don't travel much. My husband and I try to take a trip to Vietnam once every 3 years. Are there any cards that points or mileage do not expire?


United is the best airline to go to Vietnam period. 32,500 points award saver package and plenty of award seats at that price. 65k for round trip. 140k points for first class savers package ($13,000 ticket in July)

 

Having said that Chase transfers 1:1 to United if you have a Chase Ink or Sapphire.

 

Best card hands down is  Chase Ink to get points, then Chase Freedom, then Chase Sapphire.

 

on a 55k income I can easily obtain 250k miles a year with a little work I won't get into it since you can google the info easy enough, I don't like to fully spoonfeed everyone =) I spent months researching Smiley Wink


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 52 of 60
myjourney
Super Contributor

Re: Credit Limit Increase

Im calling it a night

Im getting sleepy sleepy sleepy sleepy .......Lmao Bye all


@distantarray wrote:

@myjourney wrote:

I just needed to know I had already started looking for a 24hr emergency eye doctor scared the hell out of me....



 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 53 of 60
gglam12
Established Member

Re: Credit Limit Increase


@distantarray wrote:

@gglam12 wrote:

Thanks for all of your help! I will be looking for a good card to apply for after I close on the house. If you can recommend any good cards that would be greatly appreciated. I don't travel much. My husband and I try to take a trip to Vietnam once every 3 years. Are there any cards that points or mileage do not expire?


United is the best airline to go to Vietnam period. 32,500 points award saver package and plenty of award seats at that price. 65k for round trip. 140k points for first class savers package ($13,000 ticket in July)

 

Having said that Chase transfers 1:1 to United if you have a Chase Ink or Sapphire.

 

Best card hands down is  Chase Ink to get points, then Chase Freedom, then Chase Sapphire.

 

on a 55k income I can easily obtain 250k miles a year with a little work I won't get into it since you can google the info easy enough, I don't like to fully spoonfeed everyone =) I spent months researching Smiley Wink


Thanks for your answer! I definitely will be looking for this down the road after we close on our house.


Amex BCE 2K - BoA Cash Rewards 5K - Chase Freedom 3.5K - Chase Sapphire Preferred 5k -
Starting score: 643
Current score: 712 (11/22/13)
Goal score: 750+
Message 54 of 60
distantarray
Established Contributor

Re: Credit Limit Increase


@gglam12 wrote:

@distantarray wrote:

@gglam12 wrote:

Thanks for all of your help! I will be looking for a good card to apply for after I close on the house. If you can recommend any good cards that would be greatly appreciated. I don't travel much. My husband and I try to take a trip to Vietnam once every 3 years. Are there any cards that points or mileage do not expire?


United is the best airline to go to Vietnam period. 32,500 points award saver package and plenty of award seats at that price. 65k for round trip. 140k points for first class savers package ($13,000 ticket in July)

 

Having said that Chase transfers 1:1 to United if you have a Chase Ink or Sapphire.

 

Best card hands down is  Chase Ink to get points, then Chase Freedom, then Chase Sapphire.

 

on a 55k income I can easily obtain 250k miles a year with a little work I won't get into it since you can google the info easy enough, I don't like to fully spoonfeed everyone =) I spent months researching Smiley Wink


Thanks for your answer! I definitely will be looking for this down the road after we close on our house.


if you can start building a relationship with Chase for the mortgage and bank accounts now it'll help you get approved for their cards later if you have a relationship. also there's $200 coupons on Ebay if you can't find them locally for openning a checking account and $150 for savings account. Gotta love free money


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 55 of 60
distantarray
Established Contributor

Re: Credit Limit Increase

oh btw 65k points is same no matter when you use the awards. Doesn't matter if the tickets are $1,200 or $2,800 it still costs 65k points. My family flies in July, so we get 4.3 cents per point redemption. If you do the math getting a card like Mileage plus works really well, especially when you start paying mortgages on your credit card. 10k bonus points a year after spending $25,000 annually. (not hard with mortgage included)  that's 1.4 miles per dollar spent.

 

If you don't fly internationally a lot then Starwood Amex should be your target, Stay at a Sheraton hotel ranging from $120 - $200 a night for $30 + 1800 points


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 56 of 60
gglam12
Established Member

Re: Credit Limit Increase

We would definitely fly more if we had the points to. We are still young and just got into the credit game and looking to take advantage of everything we can! Any pointers would be awesome. I am looking up the cards now so I can plan it out.


Amex BCE 2K - BoA Cash Rewards 5K - Chase Freedom 3.5K - Chase Sapphire Preferred 5k -
Starting score: 643
Current score: 712 (11/22/13)
Goal score: 750+
Message 57 of 60
distantarray
Established Contributor

Re: Credit Limit Increase

if you need help with your score keep your balance on 1 card at 2% and leave everything at 0%

 

 

2% is total credit limit. So if you have 5 cards at $2,000 limit each total of 10k limits

 

$200 balance on Primary card

$0

$0

$0

$0 

 

on all other cards will maximize your Fico score. This is a proven scale from Bob Wang from creditboards he's got the highest reported Fico 04 score online I've ever seen.

 

I was able to reach 760's with this method.

 

 

If there's anything you need creditboards will help fix your scores

 

 

 

my personal Fico journey Smiley Wink I started in the 400's LOL they helped me get back up

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 58 of 60
MovingForward_2012
Valued Contributor

Re: Credit Limit Increase

Wait a minute. If OP doesn't have enough trade lines, OP could be denied. Usually, at least 2 open trade lines need to be established for a minimum of 12 months.

How many trade lines do you currently have? I know you already said that you don't have a auto loan.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 59 of 60
gglam12
Established Member

Re: Credit Limit Increase

Sorry I am new the credit game and I don't know all the terms. What is a trade line? I have 2 credit cards 1 with cap one and 1 with boa. No collections and 2 loans that are not in repayment status yet because I am still in school.


Amex BCE 2K - BoA Cash Rewards 5K - Chase Freedom 3.5K - Chase Sapphire Preferred 5k -
Starting score: 643
Current score: 712 (11/22/13)
Goal score: 750+
Message 60 of 60
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