With your current credit profile, it will be very difficult to get a higher starting limit. I would suggest looking into secured cards where you deposit money into an account and the bank issues a card with a limit equal to your deposit. US Bank and Discover offer secured cards with usable limits. Local credit unions could also offer good options.
@Skyjacked97zj wrote:So, made some bad decisions previously and avoided credit for a number of years. I'm now traveling for work very frequently and having rental car holds and hotel reservations held on a debit card is becoming problematic.
Stats are 599 bureau scores according to credit karma and a 613 fico according to recent auto loan app.
I have a repo and a charge off loan that still haven't fallen off but no bankruptcy or anything.
I need a credit card with around a 5k limit for travel. Opened a credit one visa about 7 months ago, $300 limit. I've never carried a balance and I've used it a ton, paying it off multiple times a month to try and get an increase. That hasn't happened yet.
Went to a Indigo card, got a $500 credit limit and was doing the same thing. They randomly put a 14 day hold on available credit when I made a payment and then charged me an over limit fee. Paid that and closed it.
Now I have a capital one quicksilver one with a $300 limit. Have had it a few days but plan on spending and paying off a bunch through out the month to hopefully gain a increase in limit.
Really wish I wouldn't have closed my American Express way back when, put an ex as an authorized user and closed the whole thing after the breakup. I've been denied upon applying for anything through them so far.
Student loans are in good standing, auto loan is in good standing and 6 months old. Any advice on a new card to apply for or advice on how to strategically get a credit limit increase? I use Chase as my primary bank and income is probably going to be north of $150k this year.
I would need to know your FICO scores, what is in your profile keeping your scores down, and how it ended with Amex, in order to give you any sound advice.
It doesn't look promising for getting a large starting limit at this point, except with a secured card.
And without more information I can't say what your chances would be for an Amex charge card.
@Skyjacked97zj wrote:Amex ended with me owing them $0 and a closed charge card. I had the Green.
I need to find out what my fico scores actually are, repossession 18 months ago and a charged off personal loan 24 months ago are the big derogatory ones. No late payments or anything else.
I do have the ability to get in with a military based credit union. Have previously used USAA but no longer have an active relationship.
Here's the way I look at it:
-Since (a) your primary goal is travel, (b) you didn't burn Amex, and (c) Amex charge cards are easier to get than any good revolver, probably the Amex Platinum should be the goal.
-I would wait to apply until the FICO 8 scores are 650 and up.
-I don't think getting into a military based credit union will help you get a credit card in the near future, but you should certainly join NFCU, looking down the road.