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Higher Limit Credit Card Starting Limit

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frank784
Contributor

Higher Limit Credit Card Starting Limit

Looking to see the groups advice on who I have the best chance to get a "high" starting limit. Nothing crazy but 10K plus. 

 

My profile is ficos at 660, 680, and 690. $137,000 annual income. No baddies for a few years. Recently got a new house so I'm starting to put some money on credit cards and I dont want it to kill my utilization so thought a new card/new sign up bonus wouldn't hurt. 

 

My current cards are: 

 

Capital One Quicksillver (Had for almost 2 years) $1000 Limit (Started with $300 and got increases)

Southwest Visa (Had 1 year) $7000 SL

Discover IT (Had 8 months) $2600 (Started with $1500 and got increases)

CSP (Had 8 months) $12,000 SL

CSR (Had 5 months) $13,000 SL

 

Current utilization is between 0-3%. I had about 5K total on the cards but will pay that down prior to them reporting. 

 

I have read a decent amount about how the Capital One Venture card gives good SL but as you can see my history with Capital one I don't think they like my credit profile. I have thought to maybe go with Amex BCE and see what they give me knowing that most likely I can get a 3x increase in about 60 days. 

 

I would prefer something with 0% or cash rewards vs miles, but to be honest i don't care either way. 

 

I a 5/24 with Chase so that's not an option for about another month. I can wait the month as chase likes my profile but I don't really want to put all my eggs in one basket either. 

 

Any feedback is appreciated. Thanks again. 

 

 

 

Message 1 of 18
17 REPLIES 17
Anonymous
Not applicable

Re: Higher Limit Credit Card Starting Limit

Big limits begets big limits -- this is where the "prybar" situation comes into play.

 

The people on this and other boards who have $50,000 CLs got it by opening new accounts and combining them (usually). So if you get a new Capital One card with a $5000 limit, you can combine it with your $1000 card later.  Same with Chase.  If you want a huge limit, find which creditor allows combining (and what time frame), apply for a new card there, and then combine the limit into another account and then close the card that lost its limit.

Message 2 of 18
medicgrrl
Valued Contributor

Re: Higher Limit Credit Card Starting Limit

Maybe open an account with PenFed. Which bureau has the 690 score?


EQ 778 EXP 782 TU 729
Message 3 of 18
MrDisco99
Valued Contributor

Re: Higher Limit Credit Card Starting Limit

My biggest limits came from my Chase cold apps... Freedom and FU, a day apart, both $19,800 SLs..

Message 4 of 18
Anonymous
Not applicable

Re: Higher Limit Credit Card Starting Limit


@MrDisco99 wrote:

My biggest limits came from my Chase cold apps... Freedom and FU, a day apart, both $19,800 SLs..


What was your highest limit before this?

 

Also, do you bank with Chase (direct deposit, mortgage or auto loans, investments, savings)?  If so, that can have some effect on Chase's SLs -- I have seen this a handful of times where people who bank actively with Chase tend to get a higher SL.

 

Message 5 of 18
happypill
Valued Contributor

Re: Higher Limit Credit Card Starting Limit

Don't let your lack of increases from Cap One in the past deter you from trying to get a Venture if you're interested in that card.  Plenty of stories around here where people couldn't get increases on certain Cap One cards, but then got $20-30k on a Venture (I'm one of them).

 

In fact, this is true of a lot of lenders, where it may be easier to get a nice limit on a new card than it is to get increases on a card that may have started at a much lower limit.  Penfed is also a good choice, but in your case if you can get below 5/24 in a month, you should try to get something with Chase first, then try another lender later (or at the same time).

Message 6 of 18
MrDisco99
Valued Contributor

Re: Higher Limit Credit Card Starting Limit


@Anonymous wrote:

@MrDisco99 wrote:

My biggest limits came from my Chase cold apps... Freedom and FU, a day apart, both $19,800 SLs..


What was your highest limit before this?

 

Also, do you bank with Chase (direct deposit, mortgage or auto loans, investments, savings)?  If so, that can have some effect on Chase's SLs -- I have seen this a handful of times where people who bank actively with Chase tend to get a higher SL.

 


My highest limit before this was my $10K Cap1 QS I'd gotten the week before (hadn't reported yet).  Before that it was my lone $1K Synovus card from my local bank that I'd had for about 9 months.  That was my first revolving account after I'd been card free for about 9 years.  I got it right after I closed on my house.

I had no relationship with Chase prior to these cards.  Never had any deposits or loans with them.

Message 7 of 18
frank784
Contributor

Re: Higher Limit Credit Card Starting Limit

690 is with Equifax. 

 

My 5/24 should be over on 9/17.....I think they will delete it at the end of the month though from what I read so I'm not that far away. 

 

I was thinking about moving some of my Chase limits around so I had one card with a high limit, but then I run into utilization issues on the card anytime I use them. Ex if I have a 2K limit I wouldnt even put on more than $600....that's just the way I am. 

 

I might give the Venture a go. Chase has been great and I should be able to still get more credit from them from what I have read as well as I don;t think I'm near my exposure limits. 

 

Thanks again. 

Message 8 of 18
Anonymous
Not applicable

Re: Higher Limit Credit Card Starting Limit

DW largest was Amex BCP.  Mine was Disco. But our scores were higher than yours when we applied. If you can get to 700 then you stand a better chance of good opening cl.

Message 9 of 18
AverageJoesCredit
Legendary Contributor

Re: Higher Limit Credit Card Starting Limit

With your income, join Penfed as suggested by Medicgrrl . You might get a nice sl on a PowerCash card. Also agree, try for the Venture, probably get 15k, your other QS might be bracketed. Good luckSmiley Happy
Message 10 of 18
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