Help with breaking the $10k benchmark?

[Anonymous]

Woo hoo! Just checked at again and got:

This Card is APPROVED to spend $2,500 on General Purchases at this time.

How many times can I check?

[Anonymous]

Ooh! Did it again and got:

This Card is APPROVED to spend $3,500 on General Purchases at this time.

Does this mean it's looking good for my 3xCLI coming up the middle of next month?

[Anonymous]

OOPS! They disabled the tool. How long does that last?

[Anonymous]

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@Anonymous wrote:

Ooh! Did it again and got:

This Card is APPROVED to spend $3,500 on General Purchases at this time.

Does this mean it's looking good for my 3xCLI coming up the middle of next month?

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It just means you are allowed to spend that much.

[Dawggie14]

I found that out the hard way a few weeks ago with my Platinum Amex. Apparently, there's a maximum of 4 attempts for clicking on that hyperlink because it's synonymous to you requesting permission to spend more than your limit. At least, that's what was explained to me by the CSR who I had to call because I received a "potential security issue" notification on my card. You might receive an email/text shortly if you haven't already.

Good luck!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Ooh! Did it again and got:

This Card is APPROVED to spend $3,500 on General Purchases at this time.

Does this mean it's looking good for my 3xCLI coming up the middle of next month?

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It just means you are allowed to spend that much.

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What I was thinking is that if they're willing to let me spend $3500 on a $2K limit a little over a month in, maybe they'll be willing to give me a CLI next month after I pass my 61 days.

[skigirl916]

As I understand it, banks are inclined to go up to your largest credit line.

So, I'd combine credit lines if possible. Two Chases that are 5k will make one Chase that's 10k. Then season those for some time, say 6 months, and then apply with another bank that's generous. 

[takeshi74]

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@skigirl916 wrote:

As I understand it, banks are inclined to go up to your largest credit line.

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That's a common misconception.  Creditors do not simply match limits.  If they did I would have not received my first $25K cards as my existing limits were nowhere near that high at the time.

Limits are based on credit and income versus the creditor's criteria.  Having higher limits can help one's credit given that limits factor into utilization but the "higher limits begets higher limits" meme is an oversimplification.

[Anonymous]

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@takeshi74 wrote:

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@skigirl916 wrote:

As I understand it, banks are inclined to go up to your largest credit line.

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That's a common misconception.  Creditors do not simply match limits.  If they did I would have not received my first $25K cards as my existing limits were nowhere near that high at the time.

Limits are based on credit and income versus the creditor's criteria.  Having higher limits can help one's credit given that limits factor into utilization but the "higher limits begets higher limits" meme is an oversimplification.

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Interesting.

[skigirl916]

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@takeshi74 wrote:

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@skigirl916 wrote:

As I understand it, banks are inclined to go up to your largest credit line.

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That's a common misconception.  Creditors do not simply match limits.  If they did I would have not received my first $25K cards as my existing limits were nowhere near that high at the time.

Limits are based on credit and income versus the creditor's criteria.  Having higher limits can help one's credit given that limits factor into utilization but the "higher limits begets higher limits" meme is an oversimplification.

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I don't agree. And I didn't say they "simply match." I said they're inclined to go up to your largest credit line, meaning they're not inclined to give you significantly more than you already have when initially approving an application. It's the safe way for a bank to approve - to give you a CLyou've demonstrated you can handle. It's risky to go beyond that.

Higher limits *do* beget higher limits. It's been my very experience.  And, in the past, I receieved several denials from prime banks on typically-higher CL cards on the grounds that I had no then-existing high-limit cards.