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What should I do to maximize my available credit when applying for a new credit card?
What I want in the new card:
You might run into some trouble with getting a credit card limit that high right out of the gate.
@851 wrote:What should I do to maximize my available credit when applying for a new credit card?
- I'm a one card guy, the Fidelity Visa with 2% cashback (though Fidelity Visa has been my main card since 2006 @ $25k limit)
- I pay in full every month, on average 10-15k per month. i pay on time, but i don't really follow a routine schedule. I think this is where i'm most curious... e.g. should I leave it at zero balance when applying? or should I start paying x days before my cycle? or whatever?
- My credit is around 800
What I want in the new card:
- ~$50-75k credit limit (only once a year or so do i need to make a single transaction of around $50k)
- cashback is always preferred
- international travel benefits (no exchange/transaction fees) would be nice
- i don't really care about points
With such a thin file, I really dont see $50k happening.
You may wish to spread some of your spending around and apply for another CC. Check some of the solid pre-approvals.
thanks guys - you've pretty much confirmed what i was guessing i'd run into.
Maybe I should try to get an increase on an existing account? I just looked at my credit and I seem to have 4 accounts, one of which I didn't even know about. Here's what I have:
Fidelity Visa (daily use) @25k (i asked for an increase after 10 years and was denied, but it was only 2 months after ELAN took over the biz and began offering the 2% cashback... I wonder if I should have asked BEFORE the elan change? Should I try again at this point now that I've got 3 years of history with ELANs version of my account?)
BofA Visa @10k (out of the blue, this one was lowered from 25k about 5-6 years ago because i never used it)
Chase Visa @12k (vaguely remember getting this one around 2000-2003)
Dell Financial Services @5k (apparently these guys opened a credit account when i bought something in 2011, I don't ever remember wanting this and would close it if I knew it wouldn't hurt my credit to do so)
I look at these accounts/limits and think, "yeah that's about what i need/want.. if only i could have it on ONE account/card."
I think I can live with my current Fidelity card, but do want another backup card with at least a similar CL, pref higher. It's that every-other-year purchase that I hate to lose out 2% on because I don't have the credit on my preferred card. it's for things like paying contractors who work around the house... HVAC was $44k for example. New roof, major landscaping etc...
@851 wrote:What should I do to maximize my available credit when applying for a new credit card?
- I'm a one card guy, the Fidelity Visa with 2% cashback (though Fidelity Visa has been my main card since 2006 @ $25k limit)
- I pay in full every month, on average 10-15k per month. i pay on time, but i don't really follow a routine schedule. I think this is where i'm most curious... e.g. should I leave it at zero balance when applying? or should I start paying x days before my cycle? or whatever?
- My credit is around 800
What I want in the new card:
- ~$50-75k credit limit (only once a year or so do i need to make a single transaction of around $50k)
- cashback is always preferred
- international travel benefits (no exchange/transaction fees) would be nice
- i don't really care about points
Hmmmm. This sounds like a “genie in a bottle wish” here. Sorry, I had to go there—couldn’t stop myself 😂🤣.
If you have only one or use only one CC, getting a SL that high is going to be a problem—well unless you’re wealthy. Can you provide more DPs? AAOA, income, UT.