High Starting Limit Cards?

[wmweeza]

I think that "High limit" is subjective, but if you want a card with more then say a $15k limit your income might need to be higher

[CreditScholar]

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@wmweeza wrote:

I think that "High limit" is subjective, but if you want a card with more then say a $15k limit your income might need to be higher

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+1. The OP's income is really low, given that he/she is asking for a "high limit". 28k is significantly less than the national average.

In contrast many travel cards are geared for those with incomes significantly above the average.

[RUG]

I noticed you have a lot of cards. I just applied for my 1st three CC's.  i applied for CHASE FREEDOM, CAPITAL ONE SILVER & BOFA PRIVEDGE TRAVEL REWARDS. i appled for all three within 40 min online. The first two card response were "THEY WILL BE CONTACTING ME..." however, the BOFA reponse was' UNFORTUNATLY, WE DO NOT HAVE A REPONSE... My goal is to build about 190K in CC's.  How often should i apply for CC's? Do you think applying for 3 cards in one day is too many?

TU:  776

EQ:  768

EX:  762

[GeorgiaBulldog]

The PRG you closed was a pretty good travel card, was it not?  AMEX Everyday would've been a decent complement to it as both earn MRs.  

In any event, if a high limit is what you're after, I'd probably app for a Cap One Venture despite the annual fee (lots of folks have success getting the fee waived; if you can't, PC it).  It has a reputation for high starting limits.

I love my Citi DC, but Citi is notorious for starting people low with it, though many (including myself) have taken HPs shortly after receiving the card to get a much better limit.  Shoot for the moon with your requested limit if you do this.  My income is a bit higher than yours (low 30s), though my debt burden is also MUCH higher... and my DC started at 3600.  I asked for $17,500 on my HP CLI and they gave me $8,400.  I think you're safe to ask for $20k or maybe $25k and they'll counter you--you might search some older threads here for more data points on doing this.

An AMEX revolver is good too, though you might not start sky high with them.  But 3x CLI at 91 days and possibly again 181 days later could possibly make it your highest limit card in <1 year, depending on your starting limit.

[Anonymous]

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@Anonymous wrote:

I'm a college student with a lower salary than you. I started off with a Capital One Journey card with a $500 limit with after a year or so was automatically upgraded to a quicksilver with a $2000 limit. I also have a Best Buy card with a $1k limit. The AMEX blue cash preferred which I just got approved for is my highest yet though with a $9,600 limit. I can't say what's best for you but it seems that American Express has been quite generous lately. However when it comes down to it, salary and credit score and the 2 main factors no matter who you apply to. If the scores too low than you're out of luck. I'd say 700+ is what you want for a nice starting limit. 

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His salary is $28k.

Are you sure your lower salary and spending can justify the $95 AF for the BCP?

Assuming just uncategorized spending, you'd have to spend $9,500 in a year just to break even, which is well over a third of your salary, not including tax.

No matter how you run the numbers, you'd have to spend quite a bit in the bonus categories to make up for the $95 annual fee, and your lower income just doesn't justify it since there are better rewards out there without an annual fee.

Even if you did MS to cover everything, they'd see a huge red flag (spending 500+ at grocery stores that would exceed stated income).

[Anonymous]

IMO, not pushing anything on you. I would personally check into PenFed, they started me at 10k and in less than a month I am at 45K on the Plat Visa Sign. 

[RonM21]

A lot of times the CU's will give better limits. They seem to be a bit more lenient in this area