Getting higher CC limits

[Anonymous]

Hello eveyone, 

New comer here, just wanted to get some advice on getting better cc lines. So here is what I have after since 2013 when I started to rebuild my credit:

TU 645 (12 Inq), EP 645 (17 Inq) and EQ 652 0 got them all disputed.

Capital One Platnum ($200 Deposit) $500CL (2013)

Capital One Platnum HSBC transfer $1000 CL (2013)

Capital One QuickSilver $1000 CL (2014)

Capital One Buy Power $750 got approved today

CreditOne $1400 CL

DISCOVER NHL $1600

Barckley Card $2500

Merrick Bank CL $2000

Best Buy CL $1500

Amazon CL $700

Home Depot CL $500

Macys Store Card CL $600 Jewlery CL $1700

First Savings CC CL $750

Target CL $700

Then I have 2 joint accounts with my Wife

Best Buy CL $6500

Lexus Finace VISA CL $9500

Joint auto Loan with sister for $17k its her car.

All payments are paid on time never made a late payment. I do have some cards that have a balance on them 20%-40%. I want to close the first Capital One card that I got to rebuild my credit and get my deposit back, close the HSBC transfered Capital One too. The 4 cards that I have with balances will be paid off in two months. What can I do and how can I use these cards so I can have a decent CL? I also recently applied for a Chase Freedome card and a Marriott Rewards VISA. I'm also disputing a lot of the inquiries that when we applied for the auto loan they ran without premission. I have 5 from Chase auto in one day.

I've also noticed not a lot of people like Capital One here, i'm starting to feel the same way.

[jamie123]

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@Anonymous wrote:

Hello eveyone, 

New comer here, just wanted to get some advice on getting better cc lines. So here is what I have after since 2013 when I started to rebuild my credit:

TU 645 (12 Inq), EP 645 (17 Inq) and EQ 652 0 got them all disputed.

Capital One Platnum ($200 Deposit) $500CL (2013)

Capital One Platnum HSBC transfer $1000 CL (2013)

Capital One QuickSilver $1000 CL (2014)

Capital One Buy Power $750 got approved today

CreditOne $1400 CL

DISCOVER NHL $1600

Barckley Card $2500

Merrick Bank CL $2000

Best Buy CL $1500

Amazon CL $700

Home Depot CL $500

Macys Store Card CL $600 Jewlery CL $1700

First Savings CC CL $750

Target CL $700

Then I have 2 joint accounts with my Wife

Best Buy CL $6500

Lexus Finace VISA CL $9500

Joint auto Loan with sister for $17k its her car.

All payments are paid on time never made a late payment. I do have some cards that have a balance on them 20%-40%. I want to close the first Capital One card that I got to rebuild my credit and get my deposit back, close the HSBC transfered Capital One too. The 4 cards that I have with balances will be paid off in two months. What can I do and how can I use these cards so I can have a decent CL? I also recently applied for a Chase Freedome card and a Marriott Rewards VISA. I'm also disputing a lot of the inquiries that when we applied for the auto loan they ran without premission. I have 5 from Chase auto in one day.

I've also noticed not a lot of people like Capital One here, i'm starting to feel the same way.

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First off...You need to stop apping for credit now and let time do its work. Apping for new cards will only get you lower CLs right now.

You really have, in my opinion, (I highlighted them in red.) 4 cards that will give you $5000+ CLs in the future. I would concentrate my efforts on those 4 cards. Make sure to use them every month and always PIF without carrying balances month to month. After every 6 statements I would suggest calling for a 2X CLI from your current CL.

Any new cards you app for will only try and match your current highest CL so you need to get them up as high as possible. You need to put at least 1 years time between your last app and your next app.

[Anonymous]

Welcome to the forums! work with what you have, and as mentioned above your avg acct limit is low, so try working with Credit Limit Increases with the accounts you have. as far as your first account try and change it to a unsecured line! ask away on cap 1 cli they wont affect credit. 

GL 

[Anonymous]

Yeah, solid advice here already. I would say with 17 inq you need to stop now. I know - The temptation to apply for new cards is hard to resist, you have plenty already. Adding more will only hurt you right now. 

1. Try to PC that cap 1 card into a QS, and they will do it, many members here including myself have had success with that. 

2. Work on that Barclays card - you can get that to a premium world elite card with time and usage. 

3. Best Buy Store Card- it's issued by Citibank. Some members have had success on getting it transferred into a regular MC. Then you have a much better chance with a Citi DOuble cash card. 

4. Close Credit one. 

5. Work on Home Depot. Some members have gotten massive CLI quite easily. Doesn't hurt to ask. 

Time to garden and get friendly with your cc EO's!

[JSS3]

Is that an Amazon store card? That can grow aswell.

[Anonymous]

Thanks everyone for the good advice. I just spoke with Capital One and they upgraded my HSBC Capital One card to a Quicksilver Cash rewards card. Its weird now I have 2 of them, one with 1% cash back and one with 1.5% cash back.

[Luscher]

Usage and credit limit increases are key. Stop apping for cards.

Also, Higher limits bring higher limits on other cards.

[Anonymous]

You probably signed a waiver allowing them to run your credit like that. It is fairly standard practice with dealerships.

[SecretAzure]

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@Anonymous wrote:

Thanks everyone for the good advice. I just spoke with Capital One and they upgraded my HSBC Capital One card to a Quicksilver Cash rewards card. Its weird now I have 2 of them, one with 1% cash back and one with 1.5% cash back.

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Congrats, alternatively, you can cancel about 3 cards and re-apply for the one(s) you like in the future. If you wait a year and re-apply for...say the Quicksilver, you are likely to get a much bigger CL than you probably will get by holding onto it and eventually getting an increase.

IE:

QS...6 months later CLI to $1,800, 6 more months, CLI to $3,000

OR

Cancel QS....Do nothing for one year, apply, get approved for $4,000-$6,000

I don't know why many people don't talk about this strat here, seems completely viable for someone with good AAOA.

Edit: Woo! Post #700!!

[Anonymous]

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@SecretAzure wrote:

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@Anonymous wrote:

Thanks everyone for the good advice. I just spoke with Capital One and they upgraded my HSBC Capital One card to a Quicksilver Cash rewards card. Its weird now I have 2 of them, one with 1% cash back and one with 1.5% cash back.

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Congrats, alternatively, you can cancel about 3 cards and re-apply for the one(s) you like in the future. If you wait a year and re-apply for...say the Quicksilver, you are likely to get a much bigger CL than you probably will get by holding onto it and eventually getting an increase.

IE:

QS...6 months later CLI to $1,800, 6 more months, CLI to $3,000

OR

Cancel QS....Do nothing for one year, apply, get approved for $4,000-$6,000

I don't know why many people don't talk about this strat here, seems completely viable for someone with good AAOA.

Edit: Woo! Post #700!!

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I can understand why some people wouldn't use this strategy with Cap1 because Cap1 pulls all 3 CBs. If you're mindful of your HPs, that's a lot of HPs. On the other hand, it's only 1 per CB so if you don't have a lot of HPs, then why not? A lot of people had some luck app'ing for 2 cards on the original 3 pulls (like me!).

To each his own.