@abilliemanillie wrote:My highest Ever starting credit limit was from a Credit Union (PSECU) for 30K!!! After you get a limit like that its hard to be truly accepting of lower limits. but I have, some limits are better than NO limits lol.
My only ever CU card was from PSECU which gave me a rather low SL. Granted, this was about 35 years ago when my income was very, very small.
In more recent years, my largest starting limits have come from Chase ($35k), Amex ($30k), and Capital One ($30k).
$25K was my highest starting limit on each of my NFCU cards. It blew my mind at the time.
That's awesome man thanks for the information!
Was the Evergreen card difficult to get? I'm gardening currently, but I'm in the market within the next 6 months. Have to wait for a Litany of hardinquiries to fall off.
Also, I see you practice AZE4. That doesn't hurt you? I've noticed one of the metrics is: "many cards with balances", or something to that effect. If four of my cards have even minimal balances, both my FICO, and Experian state that as a reason my scores took a hit. I'm currently practicing AZE2, and that seems to optimize.
Thanks very much!
@Shmike wrote:Also, I see you practice AZE4. That doesn't hurt you? I've noticed one of the metrics is: "many cards with balances", or something to that effect. If four of my cards have even minimal balances, both my FICO, and Experian state that as a reason my scores took a hit. I'm currently practicing AZE2, and that seems to optimize.
Those reason codes are explanations for why your score is not 850. They may not actually impact your score by a significant number of points on FICO8. I strive to keep my number of accounts reporting a balance to less than half of my total cards, so I'm practicing AZE5 or less.
@Shmike wrote:
Was the Evergreen card difficult to get? I'm gardening currently, but I'm in the market within the next 6 months. Have to wait for a Litany of hardinquiries to fall off.
They have a prequalification site that is pretty reliable and not only tells you whether or not you qualify for the card but what your starting limit will be. They were handing out generous starting limits. And it's a good, 2% "everything else" card.
@Shmike wrote:
Also, I see you practice AZE4. That doesn't hurt you? I've noticed one of the metrics is: "many cards with balances", or something to that effect. If four of my cards have even minimal balances, both my FICO, and Experian state that as a reason my scores took a hit. I'm currently practicing AZE2, and that seems to optimize.
The different scores - FICO 8, FICO 9, FICO 5/4/2 - all seem to be different in how many accounts with balances you can have before you get a penalty. And there may be some differences depending on which scorecard you're on. It may be that you need less than half of your accounts to have a balance. Maybe less than that. It's hard to know how many a person may get away with before getting penalized in whatever score matters for what they're going to apply for next. The one thing that's easier to say about it is that All Zero Except One works for everyone and all scoring algorithms. But if you're not about to apply for anything, none of it matters.
I try to stay around AZE2. Sometimes I get a little carried away with my spending. I was recently at AZE7. I'm getting them paid off. I'm not paying interest. Three of my four are at 0% interest. Two of those are still new and in the 0% introductory period and another was just a deal I got for 0% for 12 months on purchases of $500 or more. The fourth one I pay the statement balance before the due date so I don't pay interest, but haven't quite gotten it to $0 on the statement date. Getting there.
EQ8 776, TU8 757, EX8 770 as of December 5
WF Autograph $23k?
BECU $20k
Since starting my rebuild my SLs have gone up with each card I've opened. $400 secured, $2k, $3k, $5k, $10k, and $20k. I don't know that I'll ever need a $40k or $50k limit, nor do I see ever needing that unless my income drastically increased.
