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$2000 CREDIT LIMIT

Aim_High
Senior Contributor

Re: $2000 CREDIT LIMIT


@Shoot2Thrill wrote:

I bank with a regional bank for my business and Capital One 360 for my personal bank. Don't like Capital One credit cards at all, their cheapskates when it comes to CLI, just give $100 increments.


Capital One is well known for their stingy opening credit line and slow, small CLIs.  That is my only gripe with them, though, and I still use them for some spending.  Keep in mind, the CLIs they offer get larger to a point as your CL and years of experience with them grow.  With a CL under $1K, I'm not surprised they only give $100 each.  If you stick with them, they will probably give you $1K or more.  I used their card some, put in CLIs for years every six months, and grew a smaller-limit card to $22K limit. 






Total Length of Credit > 35 years; AoOA (Currently open accounts) > 27 years
AAoA > 7 years; AoYA less than 1 year (Aug 2020)
Credit Limits: Total > $573K. Average > $28K. Utilization 1%.
Total Inquiries (TU:3 ~ EQ:4 ~ EX:7); Scorable Inquiries (TU:1 ~ EQ:2 ~ EX:4)
New Accounts: 0/6 months; 4/12 months; 11/24 months (as of 03/03/21)
* Hover cursor over each card to see name & CL, or press & hold on mobile app.
** Gardening since 08/15/20. Garden Goal ACHIEVED!!: Gold Spade on 02/15/21
Message 61 of 145
Shoot2Thrill
Regular Contributor

Re: $2000 CREDIT LIMIT

How many points would I lose with one inquiry? If I applied to 3 cards and have 4 inquires will this hurt my chances on getting any more cards awhile? Does AMX do multiple pulls like Chase?


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Message 62 of 145
Shoot2Thrill
Regular Contributor

Re: INQUIRIES

So if I applied to 3 CC companies I could potentially lose 30 points?


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Message 63 of 145
Shoot2Thrill
Regular Contributor

Re: $2000 CREDIT LIMIT

So I could lose 10 points from each inquiry?


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Message 64 of 145
Irish80
Moderator Emeritus

Re: $2000 CREDIT LIMIT

@Shoot2Thrill 

 

I have merged multiple threads that you started in different sub forums on basically the same subject.  Please do not do this as it creates confusion and is difficult for those trying to assist you.  If you have additionals questions in this area please post them in this thread.  Additionally, the 'Approvals' forum is for posters to let us know about cards that they were approved for and is not intended for questions regarding applying for credit.  If you have any questions please let me or any other Moderator know. Thank you for your understanding and cooperation and good luck with any application that you make.

Message 65 of 145
Creditsen
New Contributor

Re: $2000 CREDIT LIMIT


@Shoot2Thrill wrote:

So I could lose 10 points from each inquiry?


As I understand it, it can be variable. But my recent credit inquiries each made my vantage score decrease by about 7-10 points. 




Message 66 of 145
Saeren
Mega Contributor

Re: INQUIRIES

Point loss isn't fixed for inquiries. They tend to be bucketed as well. I lost points for the first inquiry I got but not the second through fourth on Experian. The fifth then dropped me again. I lost about 5-7 points for each bucket of inquiries (I have 6-8 currently and lost 10-14 points depending on the bureau). It's not really a huge impact on FICO 8 but the older scores used for mortgages and auto loans get a lot fussier. 



Message 67 of 145
MBills
Contributor

Re: $2000 CREDIT LIMIT

It really depends. I think for Amex blue you should be good to go if that’s your goal. Just apply if you want it the worst they will say is no. Then you will have 2 inq on Experian. I have 13 right now and just got approved for a new truck lease and a card. I’m not applying for anything for about a year now but you should be fine.
AMEX PLATINUM: NPSL (10/19) AMEX GOLD: NPSL (12/18), AMEX BCE: 3000 (10/18), CAPITAL ONE QS: 1350 (02/17), CITI AADVANTAGE PLATINUM WEMC: 13,700 (12/18), CITI AA EXECUTIVE WEMC 13,000 (11/19) DISCOVER IT CB: 3500 (11/18), DISCOVER MILES: 3500 (03/16), WELLS FARGO PLATINUM: 1300 (02/16), CAPITAL ONE QS VS: 5000 (01/19) CITI PRESTIGE 13000 (05/19) AMEX HILTON SURPASS 10,000 (03/19).







Message 68 of 145
Shoot2Thrill
Regular Contributor

Re: $2000 CREDIT LIMIT

What's the name of the thread? You talking about the credit card category?


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Message 69 of 145
Shoot2Thrill
Regular Contributor

Re: INQUIRIES

Thank you


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Message 70 of 145
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