Best way to 5K?

[PlasticOrPlastic]

So I've put my plans for an AMEX on hold for now (well actually my BK did that for me)  Instead I've decided to garden and try to get my CL's up.  Whats the best way to get to a $5000 credit limit?  Currently my highest is $2600. I know I can HP for CLI's but I'd rather not add the HP's to my CRA's at this time (they are kinda high as is).

[JustinS]

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@EndlessRoad wrote:

So I've put my plans for an AMEX on hold for now (well actually my BK did that for me)  Instead I've decided to garden and try to get my CL's up.  Whats the best way to get to a $5000 credit limit?  Currently my highest is $2600. I know I can HP for CLI's but I'd rather not add the HP's to my CRA's at this time (they are kinda high as is).

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It'd help us giving advice on which cards to persue CLI's more actively with if we had an understanding on what your profile looked like? In general from my understanding however the following card issuers are SP cli's: GE, Comenity, and Cap One.

[PlasticOrPlastic]

Currently I have a Capital One QS at $0/$1250, Cap1 Platinum at $600/1500, Discover IT 100/$1000, Barclay Rewards Visa 0/$700, Barclay Rewards MC 500$2600, and Express at 0/$250. 

Credit Scores are all nearing 700 (670-693 range)

Util about 16% overall. 

Capital One Keeps saying there has recently been a CL change when I hit the luv button. 

Was thinking about combining my two Barclay Rewards Cards to one ($3300) and trying for a Barclay Arrival but honestly dont see myself being approved with a BK.

[peepers]

definitely go the EO route with CAP1. Soft Pull increases. I could never get Luv button CLIs and was getting same message as you. Even the EO person I worked with said she was stumped by the "reasons" I was given when I'd try online

[yudeology101]

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@EndlessRoad wrote:

Currently I have a Capital One QS at $0/$1250, Cap1 Platinum at $600/1500, Discover IT 100/$1000, Barclay Rewards Visa 0/$700, Barclay Rewards MC 500$2600, and Express at 0/$250. 

Credit Scores are all nearing 700 (670-693 range)

Util about 16% overall. 

Capital One Keeps saying there has recently been a CL change when I hit the luv button. 

Was thinking about combining my two Barclay Rewards Cards to one ($3300) and trying for a Barclay Arrival but honestly dont see myself being approved with a BK.

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How long have you had your Barclays cards? Since you're trying to save your HPs, Barclays typically does auto luv every 6months (YMMV), so you can somewhat expect that as it'll be a SP.  Same w/ Cap1. 

To answer your question in general, the best way to reach for the $5k club is stable history IMO.  You may be on the lender's radar for the first 6~12months since the account opening, but showing them that you're a responsible by managing your account well will definitely lead to bigger credit lines down the road.  There are no way of cutting corners when it comes to higher CL club, as scores are not the only factor that the lenders looks at when giving higher CLs, but credit profile overall. 

[PlasticOrPlastic]

I'll have to try EO route Peepers, thank you.

And yude, today is actually my 1 year aniversary with my Barclay MC.  The Visa is only 7 months (PC'd from an Apple Visa).  Only problem is I moved some CL's around between those two cards, and they actually count that as a change to credit line apparently.  So while I was so excited to have my 12th statement cut today it seems it wont matter anyway. 

[yudeology101]

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@EndlessRoad wrote:

I'll have to try EO route Peepers, thank you.

And yude, today is actually my 1 year aniversary with my Barclay MC.  The Visa is only 7 months (PC'd from an Apple Visa).  Only problem is I moved some CL's around between those two cards, and they actually count that as a change to credit line apparently.  So while I was so excited to have my 12th statement cut today it seems it wont matter anyway. 

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Try the Facebook route first, it may be just a bit faster for Cap1.  Congrats on your 1yr anniversary with Barclays, hang in there buddy who knows you may be getting that auto luv soon?

[PlasticOrPlastic]

I don't use Facebook, so that probably wont be an option. 

I got double my limit on the 6 month statement (from $1300 to $2600) but when I tried at 6 months on the Visa they said there was recently a change to the credit limit. 

Thanks for the suggestions, and hopefully with a little luck I'll see some luv on this anniversary!

[JustinS]

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@EndlessRoad wrote:

I don't use Facebook, so that probably wont be an option. 

I got double my limit on the 6 month statement (from $1300 to $2600) but when I tried at 6 months on the Visa they said there was recently a change to the credit limit. 

Thanks for the suggestions, and hopefully with a little luck I'll see some luv on this anniversary!

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+1 for Cap One EO - My QS One MC has had the following trend/track record: Transferred in from HSBC (Orchard Bank) at $300 CL > few months in approx upped to $800 CL (SP website button) > called EO to get that increased more to $1500 > recently called EO again and went from $1500 to $4000 + AF perm waived/removed + APR reduced from 19.99% to 14.99%. So, yes there is something to be said about dealing with actual human beings at Cap One (their EO does it's best to show card holders they do value our business!).

[PlasticOrPlastic]

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@JustinS wrote:

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@EndlessRoad wrote:

I don't use Facebook, so that probably wont be an option. 

I got double my limit on the 6 month statement (from $1300 to $2600) but when I tried at 6 months on the Visa they said there was recently a change to the credit limit. 

Thanks for the suggestions, and hopefully with a little luck I'll see some luv on this anniversary!

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+1 for Cap One EO - My QS One MC has had the following trend/track record: Transferred in from HSBC (Orchard Bank) at $300 CL > few months in approx upped to $800 CL (SP website button) > called EO to get that increased more to $1500 > recently called EO again and went from $1500 to $4000 + AF perm waived/removed + APR reduced from 19.99% to 14.99%. So, yes there is something to be said about dealing with actual human beings at Cap One (their EO does it's best to show card holders they do value our business!).

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Seems like you've had some luck with the EO Justin.  I just emailed and asked for a credit line increase as well as the removal of my AF (kind of a lot but hey if you're gonna go...) I mentioned I've had the card for nearly 3 years, never late, always PIF or at least 5x min payments.  Mentioned wanting to travel the end of this year and taking advantage of my 1.5% Quicksilver card.  Not sure what to expect out of this (probably not a $3750 increase lol) but I guess anything is better than nothing.

If Barclay would give me a bit of love for my 1 year with them I'd sure be happy too!