How long did it take you to get into high limit territory?

[Anonymous]

Did anyone bring up charge cards by Amex? They have no spending limits, and you get reward points instead of cash back, but you can get gifts and airline miles I believe . but you get charged fees if you don't pay in full each month. But I think you said you are able to pay in full, so that might not be a problem. And if Amex doesn't give you a big starting limit, sill worth applying because they usually give generous increases with good history. see other posts about the credit limit increase they give good users after 60 days with an acct! (Sorry if you already were told this stuff. )

[Viva-LV]

Congrats, you're doing well! To answer your question, I was able to start out with higher limits (5-6.5k), and have been able to grow them, especially with BOA. Cash Rewards started at 6.5k went to 9k, then to 18k in 16 months. I have my largest cl's with them, then Citi (can't get the time of day from Chase!). Stick with your strategy, and open memberships with Penfed and Alliant. App when its right for you, as many hold them in high regard - I received great sl's with each. Keep at it!

[Anonymous]

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@Anonymous wrote:

I'm only 10 months into my credit history and I now have what I consider to be high limits. It all happened much quicker than I anticipated. I had read on here that some people have 1 year or more of history and are still struggling to get high limits. I suppose it depends on what lenders you go with. It seems like AmEx and Discover are the best entry into high limits quick.

Here's what I did...

October 2015: Opened my first card, the Capital One Secured, with only a $200 limit. In April 2016, I was given a CLI to $500.

April 2016: Opened my 2nd card, the Delta AmEx, with a $1k limit. At the 61 day mark, I did the 3xCLI to $3k.

August 2016: Opened my 3rd card, the JetBlue Barclays, with a $6k limit. Stunned by how much they gave me. I did wait until my 3k limit with AmEx was reporting before I went for a 3rd card, as I knew that would most likely increase my chances of getting a high limit. But all I expected was for my 3rd card to match my limit with AmEx, so I'm more than pleased.

Very happy about how all of this turned out. There are a few reasons to want high limit cards...such as utilization, more attention from other lenders, etc. There are also a lot of cards that are only Visa Signature/World MasterCard that you may not be approved for if your largest limit is only 1-3k. I'm glad I didn't go the route of getting in with Chase or another lender who would stick me with toy limits until I did a hard pull for a CLI.

Just posting this for anyone who is just starting out and is wondering the same thing. I'd also be curious to hear how long it took others to get up to 5k+ territory. I'm going to the garden now, and by the time I come out my limits with AmEx/Barclays will be even bigger.

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This is a great question

one that can only at best be GUESSED at overall....however generally speaking TIMING can be a mother sucker here

combined with which, vendor at that moment in your profile......changes EVERYTHING

Ex: You may have a well paid, nicely vetted always on time perfect pay history profile that has stayed with 'blue chip' banks like BoA, Chase and Wells

that has 5k, 3k, and 12k accounts with 8 years of great history

Meanwhile some schmuck that makes less and has less history pops NFCU, PenFed or NASA just right and went from a $1k card #1 to a 15k CL card # 2, along with say a 15k LOC

At the same time Discover offers a $40k CL to one person vs only solid $12k to another seemingly like file

We all can have theories on how to be at least be in position to get the initial high limit territory CL but in fairness it's too hard to answer with much certainty

It's too difficult to know whose giving up 5k vs 15 vs 20k based upon the same info b/c the truth is one can have in the same wallet a 30k CL and the very next offer be APPROVED for $1900 wth?

Also what's the line before we say high CL 5k, 10k, 20k...it's all over the map

[Creditplz]

Took me about 2 years to get to 25k limit cards but I was always fine with my 13k NFCU

[14Fiesta]

For me starting out I had a $500 limit with Discover that I micromanaged for 6 months. (Always let report exactly $10 balance on the card, 2% util)

At 6 months I applied for an Amex BCE, and was instantly approved for $8,000.

[Anonymous]

Congrats.    You did a great job!  It took me about 6 months but I did have a very old green amex and a secured boa/cap one before I got some good cc's.  

[fltireguy]

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@Anonymous wrote:

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@Anonymous wrote:
It's taken me 10 years to get my first high limit card. Don't make the same mistakes I did. I was recently approved for Navy Federal $17,900, plus an Amex charge card with no preset spending limit, but until last month all my cards since bankruptcy in 2006 were subprime or low-limit cards that never grew.

My biggest mistakes were going on too many app sprees and getting less valuable cards, rather than gardening with a smaller number of better cards. I also kept my utilization way too high and did not PIF.

OP, you are certainly on the right track. I highly recommend joining NFCU if you're not already a member - they'll likely beat your $6K limit.

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Thanks! I guess I did do everything right. I purposely kept my utilization at 1 percent in preparing to get my 3rd card. Unfortunately I have no military affiliation so I can't join NFCU. I do bank with USAA, but they just denied me for my credit history being too short, so thus I went to Barclays.

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Are you aware that you do not need military affiliation to join NFCU? You can find the info n how to join on the other board, or PM me

[Anonymous]

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@Anonymous wrote:
Did anyone bring up charge cards by Amex? They have no spending limits, and you get reward points instead of cash back, but you can get gifts and airline miles I believe . but you get charged fees if you don't pay in full each month. But I think you said you are able to pay in full, so that might not be a problem. And if Amex doesn't give you a big starting limit, sill worth applying because they usually give generous increases with good history. see other posts about the credit limit increase they give good users after 60 days with an acct! (Sorry if you already were told this stuff. )

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I already got my 3xCLI at the 61 day mark...so come December I'll be able to request it again. I did consider a charge card, I almost app'd for the PRG at the same time I got my Delta, but ultimately it just didn't interest me. I wasn't going to be able to justify the $195 annual fee, and I'd prefer to get the benefits with Delta since I do fly specific airlines. It also wouldn't have helped with limit building.

I am happy with my cards now though...in the garden until nexrt year.

[Anonymous]

One year, thats how long it took me.  In just one year I started from a single card with a $500 limit that I had for 3 years. That card (cap1) grew to $6000 limit.  Discover went from getting it with a 1k limit to $12,900 in one year, and I missed the gravy train of Discover CLIs too! Couple others started then at 5k a piece. Scores started mid 600 and are now sitting around 730 and I have 7 cards total. I'm 18 months in now, just coasting and waiting to fall out from under 5/24 to continue in my quest.

Not bad bad for a years work!

[righthererightnow]

congrats!