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Credit limit above 100k is it possible?

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Moderator Emeritus

Re: Credit limit above 100k is it possible?


@pinkandgrey wrote:

@Revelate wrote:
Heh, reading these posts maybe the reaper isn’t coming for my CL’s any time soon.

We’re all sitting here worrying about our 10k cards that we don’t max out every week, thinking we’re gonna get CLD’d. Or thinking “is asking for 12k unreasonable?” 


Just in general on this forum we tend to overemphasize the negatives, and we also probably get a little neurotic when it comes to our credit too Smiley Happy.  I know I fall into that category myself objectively and I'm pretty sure many others do to varying degrees.

 

I guess I'm a little old-school now in the sense I looked at building limits after full credit establishment as 20-25k at a time to whatever your aggregate credit limit desires were, rather than trying to get some outsized limit on a given card.

 

It's an interesting scenario though and I'm all for people pushing boundaries if the lenders will let them, my spend is just not that much for me, myself, and I, and I'm in a working hard phase and I barely have time for this forum let alone actually spending money on anything haha

 

That said the lenders really don't seem to be in a rush to whack people, yeah we've seen some CLD's from Amex but it hasn't been very widespread compared to lenders really drawing down their exposure.  Amex will probably come for some of that CL on the Bonvoy Brilliant at some point, but not yet, not yet.  




        
Message 41 of 69
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Moderator Emeritus

Re: Credit limit above 100k is it possible?


@simplynoir wrote:

@NRB525 wrote:

@Saleen099 wrote:

Why? 


Why not?

 

We don't judge those who come here, asking what is possible after they have a BK or a list of Lates and Collections as long as your arm. We provide / share / discuss answers as to what is possible.

 

Same situation here. Some of us are wondering what the upper bound is for credit limits. Understanding some of the possibilities is part of our growth in understanding the credit world.

 

I know I am learning from this thread.


You are probably one of the few that is learning from this. Most won't be able to apply this for themselves at all with the type of money being thrown around here. I agree sharing information is great but this won't help a lot of people except the true 1%.


Well to be clear I'm learning from this thread too... it probably won't EVER be relevant for me but I am learning from it.

 

It might be someday in the future, hard to say, but with the way the economy and my little corner of it seems to be going, I just don't think I'm ever going to get to the big expense scenario which would justify tradelines like these.  

 




        
Message 42 of 69
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Moderator

Re: Credit limit above 100k is it possible?

I dont think point of contention in this thread is about whether there is something to be learned, or about needing/ wanting higher limits.
It's about saying you'll do something just because someone on the internet said so.


It was not 'I'll look into it', it was 'I'll do that'

Anyway, I dont have a horse in this race.

Message 43 of 69
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Super Contributor

Re: Credit limit above 100k is it possible?


@simplynoir wrote:

@NRB525 wrote:

@Saleen099 wrote:

Why? 


Why not?

 

We don't judge those who come here, asking what is possible after they have a BK or a list of Lates and Collections as long as your arm. We provide / share / discuss answers as to what is possible.

 

Same situation here. Some of us are wondering what the upper bound is for credit limits. Understanding some of the possibilities is part of our growth in understanding the credit world.

 

I know I am learning from this thread.


You are probably one of the few that is learning from this. Most won't be able to apply this for themselves at all with the type of money being thrown around here. I agree sharing information is great but this won't help a lot of people except the true 1%.


You are, without a doubt, learning from this. That does not mean that you will be able to apply it, but are you worse off for gaining the knowledge? No.

 

I researched a lot about bankruptcy, and have learned a few things here about rebuilding from BK, but I have never had to apply that learning in my own situation. That obviously does not make the "learning about BK" useless. Far from it, it clarified for me the steps I could take, and did take, based on that more complete knowledge. Similar situation here, knowing that there is a $250k possible credit limit, for the right personal financial profile, opens understanding of which cards may make sense in that situation.

 

There is no need to reply to my last comments. Please and thank you, let us get back to the actual topic of the thread.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 44 of 69
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Senior Contributor

Re: Credit limit above 100k is it possible?


@NRB525 wrote:

@Saleen099 wrote:

Why? 


Why not?

 

We don't judge those who come here, asking what is possible after they have a BK or a list of Lates and Collections as long as your arm. We provide / share / discuss answers as to what is possible.

 

Same situation here. Some of us are wondering what the upper bound is for credit limits. Understanding some of the possibilities is part of our growth in understanding the credit world.

 

I know I am learning from this thread.


   I’m not judging anybody. I’m just asking why what is the purpose of you wanting to get 100K on a credit card. 

Message 45 of 69
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Established Contributor

Re: Credit limit above 100k is it possible?


@serbia wrote:

I am trying really hard to get my CL above 100k.


Be careful what you wish for! Chase gave me more than a $100K limit on my Ink Business Preferred card. Six of my staff are authorized users, and we travel a lot internationally. So I needed a relatively high limit.

 

The problem is that even though my business pays the bills each month, Chase counts this card's CL against my total personal credit "exposure". Which means it's now difficult for me to get approved for another personal Chase card or even a CLI on my own cards.

 

I argued with Chase that if they're going to treat the Ink Preferred card as if it was my personal card, then logically they should consider the $120M my company has in the bank as part of my personal assets. They declined to follow my logic...! :-)

 

Message 46 of 69
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Senior Contributor

Re: Credit limit above 100k is it possible?


@ridgebackpilot wrote:

@serbia wrote:

I am trying really hard to get my CL above 100k.


Be careful what you wish for! Chase gave me more than a $100K limit on my Ink Business Preferred card. Six of my staff are authorized users, and we travel a lot internationally. So I needed a relatively high limit.

 

The problem is that even though my business pays the bills each month, Chase counts this card's CL against my total personal credit "exposure". Which means it's now difficult for me to get approved for another personal Chase card or even a CLI on my own cards.

 

I argued with Chase that if they're going to treat the Ink Preferred card as if it was my personal card, then logically they should consider the $120M my company has in the bank as part of my personal assets. They declined to follow my logic...! :-)

 


 Exactly.   When I hit over 300K with JP Morgan Chase.  I went to a financial review.  I had to give my financial statements for the past five years plus of my bank account information  showing that I can maintain it wouldn’t have no problem paying it all back.  

Message 47 of 69
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Moderator

Re: Credit limit above 100k is it possible?

@ridgebackpilot  so, they are only taking your personal income into consideration on a business card? 

Message 48 of 69
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Established Contributor

Re: Credit limit above 100k is it possible?


@Remedios wrote:

@ridgebackpilot  so, they are only taking your personal income into consideration on a business card? 


Interestingly, Chase doesn't consider the Ink Business Preferred card a purely corporate card. It's treated as a hybrid between a corporate and personal card. Chase targets the Ink cards at small businesses and sole proprietorships. Most of their purely corporate cards don't earn UR points, which is what I wanted. (The JPMorgan Corporate Flex card does.)

 

So yes, they took into account my corporate spending when issuing the card and SL. But the Ink CL also counts against my personal credit exposure with Chase. Go figure!

 

Message 49 of 69
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Mega Contributor

Re: Credit limit above 100k is it possible?


@ChargedUp wrote:

@serbia wrote:
I did that already Smiley Sad

Also I use the cards to the bone Smiley Happy its not like I am not using them.

Then, I'd agree... You've hit the BoA per account ceiling (at least for the products you have.) I know Amex will let you poke through the $100K mark, but I'll almost guarantee they'll want a 4506-T and thick, clean reports to make it happen. (Which being that BoA has trusted you with $200K, I'm guessing you have the latter Smiley Happy )  I think the only other banks I've seen anyone break that limit with is Chase and City National (in California).


Someone here had  a Citi card with $150K+

Message 50 of 69
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