Maximizing CL with NO MORE CARDS!

[Mm587]

Hi, I have a faily simple question.  First, a little backbround.  My credit was a mess and my FICO about 4 years ago was 530.  Long story, but I have managed to get to 706 (690-719) at times.  About three years ago, my only cc was a secured card with a 200 limit.  In the past three years i have very successfully added a bunch of cards.  I currently have about 9 card with a total of 22K in crredit lines.  I am prepared to NOT app for at least a year.  My aaoa is very low.  My question is this: I have two QS1 accounts.  One has a 3500 limit and one is 4800.  My only other half way decent line is a Discover IT for 5000.  Should I combine my two QS1 card to get a single card with 8300 limit?  As I garden and maybe get some auto cli will having a 8300 card increase my chances for higer credit lines on the other cards?  Thanks

[Luscher]

High usage and paying in full is what they want to see.

[FinStar]

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@Mm587 wrote:

Hi, I have a faily simple question.  First, a little backbround.  My credit was a mess and my FICO about 4 years ago was 530.  Long story, but I have managed to get to 706 (690-719) at times.  About three years ago, my only cc was a secured card with a 200 limit.  In the past three years i have very successfully added a bunch of cards.  I currently have about 9 card with a total of 22K in crredit lines.  I am prepared to NOT app for at least a year.  My aaoa is very low.  My question is this: I have two QS1 accounts.  One has a 3500 limit and one is 4800.  My only other half way decent line is a Discover IT for 5000.  Should I combine my two QS1 card to get a single card with 8300 limit?  As I garden and maybe get some auto cli will having a 8300 card increase my chances for higer credit lines on the other cards?  Thanks

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Unfortunately, Capital One does not combine accounts nor reallocate limits.  Are you placing enough usage on either of these?  If so, and depending on the last CLI on either of those 2, you could probably request one online if your account(s) are elegible.

[vanillabean]

Why would you want to increase your credit limits? FICO doesn't look at them.

[Luscher]

There are various reasons why people want to increase limits^^^^^

[Anonymous]

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@Anonymous-own-fico wrote:

Why would you want to increase your credit limits? FICO doesn't look at them.

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You sure about that?

[chalupaman]

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@Anonymous-own-fico wrote:

Why would you want to increase your credit limits? FICO doesn't look at them.

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Ever heard of low utilization? Higher limits beget higher limits?

[Anonymous]

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@chalupaman wrote:

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@Anonymous-own-fico wrote:

Why would you want to increase your credit limits? FICO doesn't look at them.

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Ever heard of low utilization? Higher limits beget higher limits?

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If you are not spending more than you can, utilization (i.e. what reports) can be made as low as you wish.  And I have never believed the second statement

[Anonymous]

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@Anonymous wrote:

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@chalupaman wrote:

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@Anonymous-own-fico wrote:

Why would you want to increase your credit limits? FICO doesn't look at them.

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Ever heard of low utilization? Higher limits beget higher limits?

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If you are not spending more than you can, utilization (i.e. what reports) can be made as low as you wish.  And I have never believed the second statement

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Well said.

They're gonna give you what they're comfortable giving you.

[Creditwiser]

When you have a 3k limit and you suddenly require 2500 in car repair or your furnace quits, utlization becomes a big deal.  I see this as important to some and not so for others.  Everyones situation is different but I gaurantee I will need that new furnace at the same time that I'll need to app for a car, mortgage or whatever.

If I can have a 10k limit but never need more than 2 or 3k then thats a good thing.  I'd rather have the cushion myself.