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Fastest way to 100K in revolving credit

HulkCreditSmash
Regular Contributor

Re: Fastest way to 100K in revolving credit


@Remedios wrote:

@HulkCreditSmash wrote:

Definitely takes time. And do you have a fake 750+?  


What does that even mean? 

 

 


Sorry I'm a sales manager at a auto dealer. Someone that has been added as a AU with a high score we call fake. They don't have any of their own accounts or loans. Just a how score by default. 







Gardening until 09/2021
Message 21 of 26
squarebasketball
Frequent Contributor

Re: Fastest way to 100K in revolving credit

Having high total revolving credit doesn't mean much unless you plan to utilize most of it. I once strived to get a ton of revolving credit too and was very happy once i surpassed 100K and eventually hit 300K, but then realized that it doesn't mean anything if you don't use it. So i ended up requesting to lower most of my credit lines down to a total of around 100K currently haha. moral of the story is that it's nice to be able to brag for a little bit, but it will get old quick lol

Message 22 of 26
dlister70
Frequent Contributor

Re: Fastest way to 100K in revolving credit

https://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811...

 

AMEX 3x CLI seems to be a good place to start?  I've been over 100k in available credit before, but I've stopped trying to see how much I can get because now I'm afraid they'll slash my limits down because I never use even close to 10% of my limit.


My first AMEX was the blue cash and it was $1,800 if I remember correctly.  Got the 3x CLI to $5,400 at 61 days, and then went to $16,200 at 6 months.  If you get approved for a higher limit then I did, then the 3x will move much quicker for you!

 

I also got great CLI from Discover, but that seems to have slowed way down post COVID-19.  I haven't gotten anything from the luv button in quite some time.  I just stopped trying because, again, I didn't need it.

Message 23 of 26
Saintel
New Visitor

Re: Fastest way to 100K in revolving credit

I have about $145K now and it was really not that hard to do in two years. When I started I had a fico of 649. Have somone put you on a Credit Union. (Navy) They gave me a $10K.  Get a Quick Silver. You can get pretty much an auomatic increace of about $2-3 on it using the Capital One app every 6 months without having to talk to a human.After 3 months of using the acard exclusivly and paying it off. Get the Venture Card. They gave me $31K. Then the Chase Resevered Card. $45K, Chase South West card gave me $10k. Then AMX Gold, Bonvy and Platnum each gave me $10K. Now the limit is great for keeping your credit score high. However at the end of the day you're paying $1-3K in memeberhip fees. Not sure it is worth it in the end.  @Arago 

Message 24 of 26
Remedios
Moderator

Re: Fastest way to 100K in revolving credit

I got about $87,000 in new credit during November 2019, followed by another $17,000.00 in January 2020.

Why? Becase I felt like it, cards I applied for were beneficial to me, it was fun, and I'll absolutely do it again at some point in the future, but not before some other cards are closed since I have no intention of using them. 

I've been in an application jail ever since. 

 

Did I need those starting limits? Nope.

Did I need those cards? Yes.

 

I do not dictate how much lenders choose to approve for. I wanted cards, they decided on limits. 

Message 25 of 26
coreysw12
Valued Contributor

Re: Fastest way to 100K in revolving credit

Since I've got 7 cards and not quite halfway to 100k, my answer is: get 15 cards Smiley LOL

 

Really it depends on how "deep" your credit is currently, how responsible you've been with it, and your income. As others pointed out, someone with an 800 score might struggle to get a $2k card, while another person with a 700 score might get a $35k card. It's not all about the score.

 

That said - I've noticed it's definitely easier to get higher-SL cards once you've already got some, with good income to support/justify those limits. I used to struggle to get $2-3k cards, and my scores weren't any different than they are today. But now that my credit is a lot "deeper" than before (a lot more cards, which are older, and show good history), I tend to get higher SLs. Probably also matters that my income is a lot higher than it used to be.

My scores are fairly "meh" right now, but banks usually don't seem to mind extending decent SLs to me when I ask

    Total Loan Balance: $58k / $65k

    Total SL: $42.4k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase Status: 3/24
Message 26 of 26
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