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Fastest way to 100K in revolving credit

Arago
New Contributor

Fastest way to 100K in revolving credit

Assuming a FICO of 750+, what would you do to get to 100K in revolving credit in the quickest way possible?

Message 1 of 26
25 REPLIES 25
Arago
New Contributor

Re: Fastest way to 100K in revolving credit

Starting from 20K in credit.

Message 2 of 26
FinStar
Moderator

Re: Fastest way to 100K in revolving credit

And, assuming no AmEx because of previous negative history, correct?

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-in-Canada/m-p/6266516

Message 3 of 26
NRB525
Super Contributor

Re: Fastest way to 100K in revolving credit


@Arago wrote:

Starting from 20K in credit.


Which cards are already in your wallet?

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
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
Message 4 of 26
K-in-Boston
Moderator

Re: Fastest way to 100K in revolving credit

The fastest way would probably be to open up a few $25,000 secured cards like those offered by First Tech FCU.  Without other details, it's really impossible to make suggestions.  Just having a score of 750+ isn't much to go on; depending on the person, the answer could be open 100 new credit cards or "go to your bank and just open one card."

Message 5 of 26
simplynoir
Community Leader
Super Contributor

Re: Fastest way to 100K in revolving credit

Could just do it all on one card like a few forum members have on here if you're serious about it. I know @FinStar, myself and a few others have six digit lines in our credit card lineup

Message 6 of 26
stw715
Contributor

Re: Fastest way to 100K in revolving credit


@Arago wrote:

Assuming a FICO of 750+, what would you do to get to 100K in revolving credit in the quickest way possible?


One way, Applying for few Synchrony issued major credit cards (or store one's if it fits your situation, whatever it may be), then call its Credit Solution dept even before you physically received the cards on most of them and ask CLI to 25k or bit higher on each, Done... Of course I am NOT in any way recommending nor encouraging you doing it, with Synchrony been shut down happy over last 6~ish months, those 100k may not last very long.

 


Message 7 of 26
FinStar
Moderator

Re: Fastest way to 100K in revolving credit


@stw715 wrote:

@Arago wrote:

Assuming a FICO of 750+, what would you do to get to 100K in revolving credit in the quickest way possible?


One way, Applying for few Synchrony issued major credit cards (or store one's if it fits your situation, whatever it may be), then call its Credit Solution dept even before you physically received the cards on most of them and ask CLI to 25k or bit higher on each, Done... Of course I am NOT in any way recommending nor encouraging you doing it, with Synchrony been shut down happy over last 6~ish months, those 100k may not last very long.

 


Yeah, this might've been viable if SYNCB hadn't changed the landscape in past year with several AAs to boot, so I'd say this may be "applicant beware" situation unless the individual sticks to one (maybe 2) SYNCB CCs (low hanging fruit) with decent growth potential, such as Venmo Visa, Sam's Club MC, etc.

 

But, if it were me, I'd go with something more viable such as First Tech (as suggested upthread), NFCU, BoA, for instance; if assets, profile and income support it.  Of course, also taking into consideration the type of product to leverage some benefits, if that's of importance to an individual.

Message 8 of 26
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Fastest way to 100K in revolving credit

3 words

 

Shopping cart trick




Message 9 of 26
FinStar
Moderator

Re: Fastest way to 100K in revolving credit


@Brian_Earl_Spilner wrote:

3 words

 

Shopping cart trick


Explain how this would fast track to $100K in a short period - without Comenity shutting down accounts if multiple ones were to be opened in short succession.  Max CLs on any new majors these days are capped at $15K to $20K.

Message 10 of 26
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