Apply for a High Limit CC, advise please!

[em2006]

Hi there, hope everyone is doing well.
Please, I need an advise to apply for a card. I prefer a Citicard but since was IIB, is better to wait at least when my BK7 turns 7 years + (according that I heard).
The Goal now is to apply for type of card with a high limit (8k + SL) to increase my TCL and improving my score.
Honestly I won’t to waste a HP with a card with low SL.
Here are my DP’s
BK7 DC 9/10/14
No baddies since DC
Income 75K
HP: EX 2, EQ 0, TU 3
New Acc 5/24, 2/12, 1/6 (included a personal loan Jun/2021)
Ut 21-22%
AAoA 2Y11M
AoOA 6Y
AoYA 2M (personal loan)
F8 EX 694 / EQ 686 / TU 693

Which card do you recommend?

Thanks in advance!

Cap1 Plat $3.95K, Cap1 QS $6K, Cap 1 Venture Rewards $8.25K, Amex Plat NPSL $10K POT, Amex BCP $1K

Discover Miles $6K, Barclays Aviator Red $7K, WF Visa Signature $7.5K WF Plat $2K, Home Depot $0.5K, PayPal Credit $3.5K

Total CL $45.7K / Lending Club loan $14K Bal

[tcbofade]

FNBO Evergreen and/or a second Discover.

...both of which have soft pull prequalifiers.

Good luck!

[Remedios]

You cannot apply for high limit card, you can only apply for a card, and lender takes it from there depending on your profile. 

It's probably a little too late for second Discover, they are not handing out large limits to those with plenty of available credit or high number of credit cards. 

It's possible for new Discover to grow with lots of use, but they aren't quite giving increases the same way they used to. 

Chase is no go as long as BK is on your report, possibly longer if they got burned.

Citi is iffy even with best profiles, I don't think you'd have much luck there. 

Same goes for BoA. 

Your Amex is still at $1K, maybe a second revolver would yield better result, but given their love for clean profiles, I wouldn't hold my breath for them.

US Bank is fickle and I doubt you'd get half of what you listed as "high limit" plus you have too many new accounts, they don't like them. 

Additional increase in your aggregate limits will not lead to scoring improvement unless you have high utilization, but if you have high utilization, that's going to make any application difficult. 

I would go with credit union at this time, perhaps a local one and see if they have something for you. 

You can try larger ones like Penfed, NFCU (if eligible for membership) etc.

They are probably your best bet for right now. 

[em2006]

Thanks for the advice. 

I am thinking to wait until 1 Inq fall in EX and TU next March, maybe I got a better chance to get a decent limit.

Definetely Penfed will be in my radar, NFCU ask for a Membership, I am not eligible.

[em2006]

Thanks!, I tried FNBO if I pre-qualified but unfortunately nothing for me at this time.

About Discover not sure If I like them since I don't use too much my actual Discover card.

[NRB525]

Your utilization is at 20%? Which cards is that on, and at what interest rates? 

For daily spending that you pay in full on a card, when you run that through your AMEX Platinum charge card, it is essentially hidden from utilization for FICO 8. So you can route a share of "utilization" through the Platinum and get to a similar place of better overall score, without a new card.  

Using your Discover regularly will get you better results on the SP CLI request for that card. When did you open the Discover? More than a year ago so it is past the cash match period?

The AMEX BCP, are you using that and PIF? It may take a while to get a CLI, due to the BK, but that card is another possibility to get SP CLI.

[em2006]

Your utilization is at 20%? Which cards is that on, and at what interest rates? 

I don’t pay any interest now, got a personal loan, and paid off some CC bal to avoid any interest. Right now, the Util% per card is:

WF Rewards 92% (BT Promo no interest until March 2022)

WF Plat 82% (BT Promo no interest until March 2022)

Barclays Aviator Red 21% (They just auto increased my CL 3K, so I will use more this card, get more miles, and let see in 6 moths they will auto increase again my CL), Always PIF

Cap1 Venture 7%

Cap1 Plat 1%

Discover 1%

Amex Plat Current Bal 1.3K (Always PIF)

The other cards (PayPal, Amex, Cap1 QS, Home Depot) 0%

I use all my card at least for a couple of hundreds to avoid any CLD

For daily spending that you pay in full on a card, when you run that through your AMEX Platinum charge card, it is essentially hidden from utilization for FICO 8. So, you can route a share of "utilization" through the Platinum and get to a similar place of better overall score, without a new card.  

Yes, I use more my Amex Plat, always PIF but also use the others card a bit to avoid any CLD. My 2 WF represent almost 19% of my TCL. The purpose to get another card is to decrease my UTIL% improving my score.

Using your Discover regularly will get you better results on the SP CLI request for that card. When did you open the Discover? More than a year ago so it is past the cash match period? Is a Discover Miles, I used a BT offer when I open the account and was paid off 2 month ago, rarely use now, was open 1/2020, more than 1 year ago.

The AMEX BCP, are you using that and PIF? It may take a while to get a CLI, due to the BK, but that card is another possibility to get SP CLI. Yes, I used more to get 6% cash back in the supermarkets and always PIF, tried 3 times to get a CLI but due to my BK7 they never increase.

Thank you!

[BessTruman]

OMG!   He's right.   I just went through the pre-qual process and was approved for a $15,000 SCL.    I didn't take it though.   I was just checking.   I have a 10% utilization.   I have plenty of cards.   lol    Go for it!

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@tcbofade wrote:

FNBO Evergreen and/or a second Discover.

...both of which have soft pull prequalifiers.

Good luck!

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[Michizane]

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@em2006 wrote:

Thanks!, I tried FNBO if I pre-qualified but unfortunately nothing for me at this time.

About Discover not sure If I like them since I don't use too much my actual Discover card.

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@em2006 Discover can be consistent on cli approvals if you actually use their cards. I have been able to get them for 3 statements in a row by just putting a couple hundred dollars on it.

This is the last month of PayPal and Restaurants which is VERY easy to rack up spend on. Just use PayPal Key or PayPal checkout using your Discover as payment source on as many online purchases as possible, and you will rake in on the 5%. 

Since my wife and I just got a house, I was making tons of purchases at Home Depot, Best Buy, etc. so I mainly used PayPal checkout with instore pickup. 

[em2006]

Thanks for the advice. I will enroll to PayPal and use more my discover, hopefully they increase my CL soon.