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Highest Starting Credit Limit

K-in-Boston
Moderator

Re: Highest Starting Credit Limit


@StockiestTrout wrote:

I saw an AMEX Card (BCE) give a 10k limit to someone that had 1 cc with a 1500 limit but they have also perfectly paid student loans and car payments for 6-7 years. They made 50k a year, 740 credit score. In your case maybe look at AMEX Every Day card as it could be generous enough. 


As @FinStar stated well earlier, even that is only going to be a guesstimate.  DW had 25+ years of flawless credit history, AAoA of around 13 years, 0 inquiries, scores in the 770s/780s, income in the 200s, and average credit lines around $20k at the time.  A month after NASA FCU gave me a $15k starting line (with AAoA around 9 years, a number of INQs, scores barely over 700, and average credit lines around $6k), they gave her a $1000 starting line (now closed).  She had been an AU on 3 of my Amex cards for about 14 years that had seen nearly all of our spend during those years - her first Amex card was the EveryDay, and she was approved for $2000 (now $42,700). (FWIW, her last 3 approvals a year later were all $23-27k from NFCU, Amex, and Chase, so those were certainly not normal starting lines.)

 

No matter how good your profile is, lenders can and will surprise you.  On the other hand, no matter how bad your profile is, lenders can and will sometimes surprise you.  I would agree that (if eligible for membership) NFCU is likely the safest bet on a large starting line with a clean profile.

Message 11 of 15
toadsworth
Regular Contributor

Re: Highest Starting Credit Limit

Amex Everyday gave me my first higher limit card, $10k. This was 6 months into just starting to build my credit and I only had a $300 Cap1 and a $500 local credit union visa. Scores were around 700 I think, income at the time was less than yours. So my vote goes to Amex.
Kind of have everything I want now, creditwise. Undeliberately gardening until I have some spending to do and find a 100,000 Amex Platinum offer lol

Started my credit journey August 2016, after abstaining from credit for years after some poor financial choices in high school. Started with scores in the 580s. Current scores 11/6/18 - EQ: 754 TU: 757 EX: 743

From oldest to newest: DuPage CU Visa Platinum, SL 500 now 3750, Cap1 Platinum SL 300 PC'd to QS now 1600, Alliant Credit Union Share Secured Loan $500, Amex BCE SL 5000 now 600, Neiman Marcus SL 700 now 10000, Target RedCard SL 400 now 2900, Amex ED SL 10000 now 500 (combined with Cash Magnet), Chase AARP SL 800 now 3300, Chase Amazon Prime SL 1000 now 10000, Honda Lease, Discover it SL 1000 now 7000, Synchrony PayPal 2% CB SL 3000 now 10000, Barclays Uber Visa SL 800 now 2100, Citi ThankYou Preferred SL 3300 now 5300, Chase Ritz-Carlton SL 10000 now 1500 (moved to other cards to get annual fee refund), Comenity Total Rewards Visa SL 2000 now 3250, US Bank Cash+ SL 500 recon'd to 10000, US Bank Reserve LOC 1000, Union Bank Rewards Visa SL 5000 now 5000, Amex Cash Magnet SL 9900 now 20000, Cap1 Venture SL 10000 now 10000, Discover it 3000 SL now 4000, Amex SPG Luxury 3100 SL now 3100, Amex Amazon Business Prime 10000 SL now 10000, Amex Gold NPSL, US Bank Premier LOC 5000, US Bank Visa Platinum 5400 SL currently reconning

Combined revolving CL $135,300

Goal: Spring 2019 800+ club, $50,000 combined Amex limit
Message 12 of 15
Creditaddict
Legendary Contributor

Re: Highest Starting Credit Limit

1. Ask for a CLI on Discover and start doing it every month! no credit pull and just look up some threads on the giving discover train.

2. I would apply for at least 2 new cards. American Express and a Chase Co-Branded Card like Marriott, United, IHG, those gave me some of my highest starting CL in the past.

Message 13 of 15
Creditaddict
Legendary Contributor

Re: Highest Starting Credit Limit


@Creditaddict wrote:

1. Ask for a CLI on Discover and start doing it every month! no credit pull and just look up some threads on the giving discover train.

2. I would apply for at least 2 new cards. American Express and a Chase Co-Branded Card like Marriott, United, IHG, those gave me some of my highest starting CL in the past.


Or Capital One if you are pre-approved for Venture or Savor, Venture tends to be $10-$30k pretty easy and as high as $50k

Message 14 of 15
Buckwheat2U
Regular Contributor

Re: Highest Starting Credit Limit

Everyone has their opinion or anecdotal evidence but as a data point and to dovetail from what Creditaddict says, I just got approved for a Venture One SL of $15K with a CH13 BK still showing (D/C in Nove 2017).  I did already have my bank accounts and a QS1 ($3k SL now $3500) with a flawless payment record since Dec 17 with CapOne, and a Discover with an $800 SL so that may be part of it but the fact my FICOs were 648-TU to 668-EXP, I did not have a hit on a pre-qual check and decided to just blindly app for it, that SL is pretty good and way above what I expected.  I only had the one HP on each CB though so I haven't been apping cards since Dec but I did do Ollo and V1 at the same time.  As always YMMV.



As of 7/26/2020


Amazon-Prime-Store-Card
Message 15 of 15
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