@fittiger wrote:
@KLEXH25 wrote:Almost any card is capable of having a high starting limit. It just depends on the applicant. Your score, salary, and credit age are all good, but what does the rest of your profile look like? How many cards do you have? What are your current limits? How high is your utilization (individual and total)? Even if you get a card with a $20k limit, you don't want to max it out, so perhaps splitting it between two is better. However, given the high amount that you want to consolidate, I would really try to look at a consolidation loan. My fiancé did this through his credit union, and it was the best move he could have made. Everything is paid off now and he kept all of his cards.
Thanks for the reply and suggestion.
What I'm looking for, all things being equal, do some products grant higher limits than others? For instance does Citi tend to grants higher limits on the Diamond preferred over the Double Cash (or Vice verse) solely for product reasons? Are they going to give me a lower limit on Diamond preferred because it's only benefit is the balance transfer option and they assume that's why I'm applying? Vs the Cash Back card they assume I'm after the 2% cash back benefit.
One of the balances I want to consolidate to 0% is a consolation loan that I'm paying $129 monthly in interest and the other is a low apr credit card balance.
My cards/balances/limits are below and my utilization is fine. Newest CC account was Delta on 9/2018- Amex Gold NPSL
- Amex Delta $0/$18,000
- Chase Freedom $0/$18,000
- Chase Freedom unlimited $0/$3500
- Citi points card $0/17,000
- PenFed Rewards $12,781/$35,000
EDIT: I'll probably be closing the Citi & Delta cards.
That's really helpful information. I would keep all of your cards open for now before applying for any cards. Having a few higher limit cards in your pocket with low utilization can help show that you're capable of handling higher limits responsibly. Which could possibly help influence starting limits. You'll likely still need two cards, but it will definitely help you pay less interest than you are now. I think you're in a good position to get some nice cards.
Have you considered a Discover card? You may have a better chance for a decent SL vs Citi. Also, do you have any preapprovals from Chase? Their Slate Edge card has a 0% intro APR for purchases and BTs for 18 months. And you can always move some of your limit over from another card if needed.