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$2000 CREDIT LIMIT

Obscure-Expert
Valued Contributor

Re: CREDIT HISTORY


@Shoot2Thrill wrote:

I only have 2 credit cards, a CAP 1 Plat and Discover it card, I got the CAP 1 card in Sept 2017 and Discover it card this past March, my question are:

 

1. I will have had my CAP 1 Plat card two years come Sept, should I wait until Sept before applying for another CC or does even matter since the Discover card dragged my history down? Yes

 

2. Is my history considered a thin file? Yes

 

3. A few members mentioned that AMX is cool with credit historys as long as it's been a solid year, with Chase not so much, is this true? Yes


 

500K+ TCL / 800+ FCOs
Message 81 of 145
Saeren
Mega Contributor

Re: CREDIT HISTORY

Chase is generally actually fine with thin files as long as you are under 5/24 and over 1 year on your oldest account. I can’t imagine the limit would be very large with your income though.

AMEX... I got approved for $1K last year, canceled that, then was approved for $1K again this year but they let me instantly take it to $3K before I even got the card and I’ve been happy with it since.

I actually like Capital One and generally recommend someone who has a card with them in excellent standing to just check prequals and if prequalified, swallow the hit on each bureau and get a second card. Capital One can be very generous on subsequent cards.


Message 82 of 145
Shoot2Thrill
Regular Contributor

Re: CREDIT HISTORY

What do you think the limit would be with Chase with my income?

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Message 83 of 145
HeavenOhio
Community Leader
Senior Contributor

Re: CREDIT HISTORY

I think Chase would come in at 1.5 to 2k.

 

@Shoot2Thrill, don't get any more than one card right now. In six months, get another. One card every six months is plenty. You'll overcome your thin file soon enough. Time works better than anything else.

 

I'd look at the Cash Magnet right now. Because your file is clean, I think your starting limit will come in somewhere above the 1k that frequently gets stuck at that level for a while. Once you've had your AMEX for six months, look into a Mastercard or Visa product.

Message 84 of 145
Shoot2Thrill
Regular Contributor

CAPITAL ONE

I was going to see what Capital One had to offer me using their pre-qualified page, the Online form ask for my entire SSN# instead of just the last 4 numbers. what's up with that?

 

Seems to me if they have the entire SSN# they would do a hard pull?

 

Have never seen a pre-qual on any other bank or credit card company as for the entire SSN#.


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Message 85 of 145
ChargedUp
Valued Contributor

Re: CREDIT HISTORY

When I had a similar credit file to the OP's I picked up Chase Freedom Unlimited with a $4500 SL and Discover with a $5500 SL, although my income is somewhat higher, I'd think you'd get at least a $3K SL from Chase.

 

-BB&T is a good place to start (If you're in their geo-footprint.) SP approvals, so no inquiries on your report.

-BBVA has been giving some decent SL's if you're in their service area as well. Clearpoints has selectable bonus categories which may work out for you on home improvement purchases.

-You could look into joining a local credit union. At the smaller ones, you may be able to talk face to face with the person who makes the credit line decisions and get an idea what they would approve you for ahead of time. If you have *any* military background, look into Navy Federal CU. They tend to be quite generous with their SL's.

-If you want Amex, go for it! Even if they don't start you out with the SL you want, it'll grow over time with prudent use and payments.

 

-Check Capital One's pre-qual page. You have history with them and if they show you as pre-approved for Savor or Venture, those both have **minimum** $5K SL's.

 

AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($24K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($22.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($9.5K)
Message 86 of 145
HeavenOhio
Community Leader
Senior Contributor

Re: CREDIT HISTORY

@ChargedUp, I checked Capital One's minimum starting limits to answer a question earlier today in another thread, and it appears that the Savor's starting limit is now 2k.

Message 87 of 145
Saeren
Mega Contributor

Re: CREDIT HISTORY

Only Venture has a $5K minimum SL, Savor prequal means $2K and VentureOne and SavorOne are both $1K minimum.

Just check prequal and hit travel rewards. If Venture pops, any card you apply for should get a $5K or higher SL.


Message 88 of 145
Shoot2Thrill
Regular Contributor

Re: CREDIT HISTORY

I asked Capital One a few months ago for a CLI on my Platinum card, I had a limit of $850, all they gave me was a $100 bump to $950 so it looks like they don't like me or is it just because of that card? Seriously doubt they would give me over $500, just tried to fill out a Capital One Pre-qual app but they are asking for my entire SSN# so I am not going to fill it out.


@ChargedUp wrote:

When I had a similar credit file to the OP's I picked up Chase Freedom Unlimited with a $4500 SL and Discover with a $5500 SL, although my income is somewhat higher, I'd think you'd get at least a $3K SL from Chase.

 

-BB&T is a good place to start (If you're in their geo-footprint.) SP approvals, so no inquiries on your report.

-BBVA has been giving some decent SL's if you're in their service area as well. Clearpoints has selectable bonus categories which may work out for you on home improvement purchases.

-You could look into joining a local credit union. At the smaller ones, you may be able to talk face to face with the person who makes the credit line decisions and get an idea what they would approve you for ahead of time. If you have *any* military background, look into Navy Federal CU. They tend to be quite generous with their SL's.

-If you want Amex, go for it! Even if they don't start you out with the SL you want, it'll grow over time with prudent use and payments.

 

-Check Capital One's pre-qual page. You have history with them and if they show you as pre-approved for Savor or Venture, those both have **minimum** $5K SL's.

 


 


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Message 89 of 145
Saeren
Mega Contributor

Re: CAPITAL ONE

It’s a SP on Equifax. They always ask for the full SSN. It’s not a big deal.

Make sure you hit travel rewards. If you get a prequal for Venture, you will be a lot more likely to get a minimum $5K SL on a SavorOne.


Message 90 of 145
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