Importance of store credit card limits when applying?

[Anonymous]

I recently pulled my free credit report and I have a experian rating of 680.  It states that my score is pretty low due to my low credit card limits.  My cards and limits are as follows:

1. Chase Slate Visa - $300 limit (8 years)

2.  Best Buy HSBC Mastercard - $570 limit (5 years)

3.  Barclay Apple Visa - $1400 limit (2.5 years)

4.  Dell Preferred Card - $4000 limit (7 years)

5.  Zales Jewelry - $1800 limit (2 months)

The only card that currently has a balance is the dell card at about $1150.

I was considering applying for another credit card, but I would like the limit to be atleast $2000.  I'm afraid that if I apply, the lender will not give me a high limit because the only card that I have with a relatively decent limit is my dell store card.  Do lenders look at these limits as much as they look at the major credit card limits (MC, Visa, etc)?

[myjourney]

Welcome to the forum

Did you pull EQ because EX you cant get unless its a  FAKO

[Anonymous]

Are these your only credit cards? Maybe you could apply for a big bank card like AMEX BCE, Chase Freedom, or BoA. Having only store credit cards in your credit portfolio won't help increase your score.

[myjourney]

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@myjourney wrote:

Welcome to the forum

Did you pull EQ because EX you can't get unless its a  FAKO

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That being said tho its hard to say what CLI you will receive

[Anonymous]

Yes the cards listed are my only cards.  The non-store cards are the Barclay Visa, Chase Slate,  and Reward Zone Visa.  So I do have a good mix of card types, but the store cards have the highest limits. I pulled the freecreditreport.com experian report of 680 and credit karma fako of 674.

[myjourney]

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@Anonymous wrote:

I recently pulled my free credit report and I have a experian rating of 680.  It states that my score is pretty low due to my low credit card limits.  My cards and limits are as follows:

1. Chase Slate Visa - $300 limit (8 years) With 8yrs of history I would ask for a $5,000 CLI and worst can happen is they counter. Then if you still feel you need another card to offset the limit you want then apply for a new card 

2.  Best Buy HSBC Mastercard - $570 limit (5 years)

3.  Barclay Apple Visa - $1400 limit (2.5 years)

4.  Dell Preferred Card - $4000 limit (7 years)

5.  Zales Jewelry - $1800 limit (2 months)

The only card that currently has a balance is the dell card at about $1150.

I was considering applying for another credit card, but I would like the limit to be atleast $2000.  I'm afraid that if I apply, the lender will not give me a high limit because the only card that I have with a relatively decent limit is my dell store card.  Do lenders look at these limits as much as they look at the major credit card limits (MC, Visa, etc)?

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[youngandcreditwrthy]

If you can spare a hard pull, I would try to get your Slate upped.

a Chase analyst spefically told me they do not consider store limits, however; I know Barclay's does... they based my 6500 Trav Amex approval as matching my 8500 lowes.

I also know that FICO considers all limits for util purposes!

[Anonymous]

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@myjourney wrote:

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@Anonymous wrote:

I recently pulled my free credit report and I have a experian rating of 680.  It states that my score is pretty low due to my low credit card limits.  My cards and limits are as follows:

1. Chase Slate Visa - $300 limit (8 years) With 8yrs of history I would ask for a $5,000 CLI and worst can happen is they counter. Then if you still feel you need another card to offset the limit you want then apply for a new card 

2.  Best Buy HSBC Mastercard - $570 limit (5 years)

3.  Barclay Apple Visa - $1400 limit (2.5 years)

4.  Dell Preferred Card - $4000 limit (7 years)

5.  Zales Jewelry - $1800 limit (2 months)

The only card that currently has a balance is the dell card at about $1150.

I was considering applying for another credit card, but I would like the limit to be atleast $2000.  I'm afraid that if I apply, the lender will not give me a high limit because the only card that I have with a relatively decent limit is my dell store card.  Do lenders look at these limits as much as they look at the major credit card limits (MC, Visa, etc)?

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Thanks for the feedback.  I will try this.  But also back to my original question:  Do lenders look at the limits of your store cards also when trying to determine what initial credit limit they give you on a new card.

[youngandcreditwrthy]

hahah beat me to the punch myjourney ! I was typing that as you posted yours! 

[myjourney]

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@Anonymous wrote:

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@myjourney wrote:

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@Anonymous wrote:

I recently pulled my free credit report and I have a experian rating of 680.  It states that my score is pretty low due to my low credit card limits.  My cards and limits are as follows:

1. Chase Slate Visa - $300 limit (8 years) With 8yrs of history I would ask for a $5,000 CLI and worst can happen is they counter. Then if you still feel you need another card to offset the limit you want then apply for a new card 

2.  Best Buy HSBC Mastercard - $570 limit (5 years)

3.  Barclay Apple Visa - $1400 limit (2.5 years)

4.  Dell Preferred Card - $4000 limit (7 years)

5.  Zales Jewelry - $1800 limit (2 months)

The only card that currently has a balance is the dell card at about $1150.

I was considering applying for another credit card, but I would like the limit to be atleast $2000.  I'm afraid that if I apply, the lender will not give me a high limit because the only card that I have with a relatively decent limit is my dell store card.  Do lenders look at these limits as much as they look at the major credit card limits (MC, Visa, etc)?

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Thanks for the feedback.  I will try this.  But also back to my original question:  Do lenders look at the limits of your store cards also when trying to determine what initial credit limit they give you on a new card.

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@Anonymous wrote:

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@myjourney wrote:

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@Anonymous wrote:

I recently pulled my free credit report and I have a experian rating of 680.  It states that my score is pretty low due to my low credit card limits.  My cards and limits are as follows:

1. Chase Slate Visa - $300 limit (8 years) With 8yrs of history I would ask for a $5,000 CLI and worst can happen is they counter. Then if you still feel you need another card to offset the limit you want then apply for a new card 

2.  Best Buy HSBC Mastercard - $570 limit (5 years)

3.  Barclay Apple Visa - $1400 limit (2.5 years)

4.  Dell Preferred Card - $4000 limit (7 years)

5.  Zales Jewelry - $1800 limit (2 months)

The only card that currently has a balance is the dell card at about $1150.

I was considering applying for another credit card, but I would like the limit to be atleast $2000.  I'm afraid that if I apply, the lender will not give me a high limit because the only card that I have with a relatively decent limit is my dell store card.  Do lenders look at these limits as much as they look at the major credit card limits (MC, Visa, etc)?

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Thanks for the feedback.  I will try this.  But also back to my original question:  Do lenders look at the limits of your store cards also when trying to determine what initial credit limit they give you on a new card.

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Some do some don't