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Boosting credit limits for next 6 months

R1valdo
New Member

Boosting credit limits for next 6 months

Hi everyone, I decided to clean and boost my credit during next 6 months
The goal is max. total limit

My credit is pretty fresh about 1y.o
I was new and started from inquiries Lol
Couple Tj max, couple CapitalOne (probably cause I closed my debit account with them recently)
1st credit card I got approved is BofA Secured 300$ May2016
I used that card for 6 months and balance was the same 300$, score raised from 659 to 667
Then I received pre-approved offer from CreditOne with annual fee and applied Nov2016
Right after that approved for CapitalOne Journey, AMEX Blue Cash and PayPal Credit (Nov2016)
My credit was growing up and falling between 650-690
During that time also had some inquiries from CreditOne Plat and Chase Freedom
Feb2017 got pre-approved for Citi Double Cash
And finally in this month March2017 I got pre-approved for Merrick Double Balance and right after tried to get Discver It but declined

So now i got
1. BofA Secured 10mon old, 600$ limit
2. CreditOne Plat 5mon 700$
3. CapitalOne Journey 5mon 500$
4. AMEX BlueCash 5mon 500$
5. CiTi DoubleCash 1mon 700$
6. Merrick DoubleBal 0mon 1400$
+PayPal Credit 1500$ but it's not on report

Main problem is inquiries. About 5-7 on each credit bureau. I already sent letters to remove unauthorized inquiries to all banks and waiting 30day to start calling them

Now credit score is 676 TU, 691 Eq
I need advice for next steps, friends
Message 1 of 18
17 REPLIES 17
R1valdo
New Member

Re: Boosting credit limits for next 6 months

Should I open other accounts or maybe ever secured cards?
Or just take care of inquiries?

I'm planning to buy some expensive equipment for my business in September so I would do the best that I can
Thanks again
Message 2 of 18
Irish80
Moderator Emeritus

Re: Boosting credit limits for next 6 months


@R1valdo wrote:
Hi everyone, I decided to clean and boost my credit during next 6 months
The goal is max. total limit

My credit is pretty fresh about 1y.o
I was new and started from inquiries Lol
Couple Tj max, couple CapitalOne (probably cause I closed my debit account with them recently)
1st credit card I got approved is BofA Secured 300$ May2016
I used that card for 6 months and balance was the same 300$, score raised from 659 to 667
Then I received pre-approved offer from CreditOne with annual fee and applied Nov2016
Right after that approved for CapitalOne Journey, AMEX Blue Cash and PayPal Credit (Nov2016)
My credit was growing up and falling between 650-690
During that time also had some inquiries from CreditOne Plat and Chase Freedom
Feb2017 got pre-approved for Citi Double Cash
And finally in this month March2017 I got pre-approved for Merrick Double Balance and right after tried to get Discver It but declined

So now i got
1. BofA Secured 10mon old, 600$ limit
2. CreditOne Plat 5mon 700$
3. CapitalOne Journey 5mon 500$
4. AMEX BlueCash 5mon 500$
5. CiTi DoubleCash 1mon 700$
6. Merrick DoubleBal 0mon 1400$
+PayPal Credit 1500$ but it's not on report

Main problem is inquiries. About 5-7 on each credit bureau. I already sent letters to remove unauthorized inquiries to all banks and waiting 30day to start calling them

Now credit score is 676 TU, 691 Eq
I need advice for next steps, friends

Welcome to MyFICO

 

Why are they 'unauthorized ' inquiries?

Message 3 of 18
R1valdo
New Member

Re: Boosting credit limits for next 6 months

Why are they 'unauthorized ' inquiries?
_______________________________

That's what people advised me to do
Sent the certified letter to each bank and ask to remove those inquiries cause they were unauthorized
I sent letters last week and already got one removed
Message 4 of 18
enjoimorenow
Frequent Contributor

Re: Boosting credit limits for next 6 months

You should just garden with the cards that you already have and allow them to grow.  Everyone always thinks they need to keep applying for more cards to increase their credit score, when they already have plenty of cards and should just use and pay them in full and allow them to grow.  This will help your accounts age, give you more positive payment history, and your credit limits will grow.  All of these things will help your scores.

 

Other than that, if you don't have an installment loan, adding one will help your score.  It's not worth adding debt you don't need though, so look at doing a share secure loan with a credit union.  There are write ups on how to do this on the forum, and it will cost you very little money (a couple dollars in interest).


BK 7 Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (11/2017): EQ-671. TU-665. EX-669.
Goal for 2017: 650's. - made it!! next stop 680's. www.cartkingz.com
Message 5 of 18
Appleman
Valued Contributor

Re: Boosting credit limits for next 6 months

My guess is that you have no unauthorized inquiries. There is always soimething in the fine print when applying for credit that allows them to pull credit.

 

I am in agreement that you should not apply for any new credit, I would say for at least 6 months. At that point have a plan to apply for 1 new product if it is an improvement every 6-12 months. Above all, pay on time!

Message 6 of 18
R1valdo
New Member

Re: Boosting credit limits for next 6 months

Got it, no more new credit cards
So Installment loan will help me a little bit?
For how many months and what amount of loan?

Thanks
Message 7 of 18
Veg325
Frequent Contributor

Re: Boosting credit limits for next 6 months

I believe the above poster was saying that while the installment loan may help you short term, it might not be necessary to take one out and add extra debt if you don't need it. The secure loan is taken out against cash that you already have. Once you close the loan you get the money back, assuming it's in good standing.
•Chase Freedom • AMEX BCP •AMEX Rose Gold •Apple Card •Chase Amazon Prime •Discover iT •NFCU Cash Rewards •US Bank Cash+ •Nordstrom VISA
Message 8 of 18
AverageJoesCredit
Mega Contributor

Re: Boosting credit limits for next 6 months

I agree you have enough credit cards to build on. You did good in getting an Amex, Ciri, and some Cap Ones. Your Boa is a good springboard into Boa. Credit One and Merrick i would eventually get rid of, Credit One more so as you have already got cards that most people with Credit One would love to have. Remember if you applied for credit those inquiries are legit. 5-7 hps is not that bad and if you give some time to age and geow tour new cards youll be in a much better place when going for what you really want. Best of luck on your journeySmiley Happy
Message 9 of 18
Musiclover
Super Contributor

Re: Boosting credit limits for next 6 months


@AverageJoesCredit wrote:
I agree you have enough credit cards to build on. You did good in getting an Amex, Ciri, and some Cap Ones. Your Boa is a good springboard into Boa. Credit One and Merrick i would eventually get rid of, Credit One more so as you have already got cards that most people with Credit One would love to have. Remember if you applied for credit those inquiries are legit. 5-7 hps is not that bad and if you give some time to age and geow tour new cards youll be in a much better place when going for what you really want. Best of luck on your journeySmiley Happy

+1 Best of luck!


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover..
Message 10 of 18
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