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Increase's & New Cards

Hinds1234
Established Member

Increase's & New Cards

Quick question.

I'm trying to gain some new cards that are worthy or get an increase on my limits, but for some reason I can't ever get an increase, and I recently applied for an Apple card and they denied me. On my Chase Journey App, they gave me 3 offers for 3 cards. But I'm very scared to even take that chance on them.

I recently just paid off a Credit One card that was in collections, so I'm thinking that could have been the reason for me not getting increases but I got those same cards even while it was on my report. 

As of now I have a BOA Card, Capital One Card, and also another Credit One card. 

What steps should I take to possibly attempt to get better cards or increase my limits. 

Starting Score: 560
Current Score: 630
Goal Score: 725


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5 REPLIES 5
AllZero
Super Contributor

Re: Increase's & New Cards

Not knowing the exact details of your credit profile, you might want to address any other derogatory you have; delinquency, charge off, collection, etc. If they are updating monthly, it'll keep your scores suppressed.

 

The higher your scores the better odds you have for approval.

Message 2 of 6
CYBERSAM
Valued Contributor

Re: Increase's & New Cards


@AllZero wrote:

Not knowing the exact details of your credit profile, you might want to address any other derogatory you have; delinquency, charge off, collection, etc. If they are updating monthly, it'll keep your scores suppressed.

 

The higher your scores the better odds you have for approval.


+1

 

"The higher your scores the better odds you have for approval." 🙏







           
Message 3 of 6
James_A
Valued Contributor

Re: Increase's & New Cards


@Hinds1234 wrote:

... What steps should I take to possibly attempt to get better cards or increase my limits. 


1) Know your own credit profile: Fico scores, Util, DTI, income, AAoA, AoOA, Inq, __/24, derogs, etc.

2) Know WHICH lenders are compatible with WHAT profiles.

3) Play: Match Game Smiley Happy

4) Share results -- including data points, especially them Smiley Wink -- with the community. 

 

Best wishes.

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board


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Message 4 of 6
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Increase's & New Cards

It takes time. Almost all of the cards in my signature were got with my scores being 641 at the highest. It's also missing 4 additional cards and my limits haven't been updated in a long time. But, my AoOA is over 21 years and and my AAoA was over 8 years.

 

They were all approved with lower limits because I didn't listen to everyone. I chose to app to set a base and expected to grow them. What ended up happening is they haven't grown because I still have derogatories. Hopefully I'll start to see some growth and better approvals soon. Once all my derogs are taken care of.




Message 5 of 6
coldfusion
Community Leader
Super Contributor

Re: Increase's & New Cards


@Hinds1234 wrote:

Quick question.

I'm trying to gain some new cards that are worthy or get an increase on my limits, but for some reason I can't ever get an increase, and I recently applied for an Apple card and they denied me. On my Chase Journey App, they gave me 3 offers for 3 cards. But I'm very scared to even take that chance on them.

I recently just paid off a Credit One card that was in collections, so I'm thinking that could have been the reason for me not getting increases but I got those same cards even while it was on my report. 

As of now I have a BOA Card, Capital One Card, and also another Credit One card. 

What steps should I take to possibly attempt to get better cards or increase my limits. 


Sit on your hands for 6 months and let that paid collection age out a bit and in the meantime work on cleaning up any other issues.   In 6 months reevaluate your current status. 

 

Ringing up a string of denials is counterproductive and  only exacerbates the problem because it's interpreted by issuers as possible desparation on your part. 

 

 

 



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 6 of 6
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