Credit Limit Help

[Anonymous]

Thanks for all feedback..I pre qualify for many good cards, I use all the lenders Pre qual sites if available..I want a good rewards card and a limit of $5000 or higher.Do you guys think that is possible based off my somewhat thin history? 

[Anonymous]

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@Anonymous wrote:

Thanks for all feedback..I pre qualify for many good cards, I use all the lenders Pre qual sites if available..I want a good rewards card and a limit of $5000 or higher.Do you guys think that is possible based off my somewhat thin history? 

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Maybe...maybe not. There's a lot of other factors involved, but I would lean towards the probability of a lower starting lmit. If you go with Amex however, they are very good about increasing credit limits with people that show steady use, and good payment habits.

Just for reference, I got a nearly $6000 auto CLI on my Amex BCP after the first year.

[Flex1]

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@Anonymous wrote:
What should I Do to access more credit? I have only a single WFCC with a limit of $900. I've had this card for two years to help rebuild my credit. It started out as a secured card. Upon graduation, I received a $300 limit increase six months ago. $900 is simply not enough. I currently have a credit score between 730-760. I have no new accounts in the past two years. Im looking to get the highest credit limit I can receive

My question to all the credit enlightens is should I first ask Wells Fargo for a limit increase?.. Or should I apply for a new line of credit?

Wells Fargo back story: My only negative on my credit report is from a Wells Fargo credit card in 2013.

Other concerns: I feel my low limit card will hurt me accessing a high limit card even though my score is good and my salary is fine

I appreciate any feedback that could potentially help.. Thanks in advance

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Do you qualify to join Navy Federal? I feel that there are quite a few Credit Unions that would give you the credit limit you're looking for. Of course you have to qualify, somehow, to meet their member pre-requisites. 

[SummerOf17]

-- What should I Do to access more credit? I have only a single WFCC with a limit of $900.--

Why More Credit?

[xaximus]

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@SummerOf17 wrote:

-- What should I Do to access more credit? I have only a single WFCC with a limit of $900.--

Why More Credit?

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OP may be using the cards for his benefit but with a limit of only $900 that may not be sufficent. 

OP - as others have mentioned - check the prequal sites. Also, get cards that are of benefit to you. I wouldn't just get any card just to see if you can get a high limit. Research and ask as many questions as needed regarding different cards and to see what best suits you. There is a lot of knowledge and information available on here including DPs that may help guide you in what cards may be better then others and so forth.

Good luck!

[K-in-Boston]

@Anonymous I have merged your two threads as they are very similar.

[Anonymous]

I agree with what others are saying. Also consider the value of having diversified accounts as well. Normally visa and MC are universally excepted but I have at least one experience where that wasn't the case.

As to why someone would want more than $900 in available credit...some of us spend that much or more during a week.

[Anonymous]

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@Anonymous wrote:

As to why someone would want more than $900 in available credit...some of us spend that much or more during a week.

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+1

Also, it's not unusual to have a "floating" balance of several hundred dollars if you use the card regularly. For example, using a dedicated grocery card you'll oftent have a couple hundred dollars charged to it between payments; even if you PiF each month. That's not a problem if your credit limit is at least a couple thousand dollars, but with a $900 limit that is apretty big ding to your utilization.

Using myself as an example, I PiF each month, but usually have a $300-$400 balance report on my card just from regular grocery use even though I often make a few payments mid cycle. That would be a huge chunk of a $900 limit.

[Anonymous]

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@SummerOf17 wrote:

-- What should I Do to access more credit? I have only a single WFCC with a limit of $900.--

Why More Credit?

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$900 is much too low of a credit limit for most people.  

[Anonymous]

What's Aaoa? I only have the one active credit card from Wells.. And a previous secured card non active from Wells.. Is my haitus bad? Can you explain the chase 5/24 thing? I've never heard of it