Rebuilding-Need higher limit for business travel

[Swiftd03]

Good evening all,

Here is my problem. I just got promoted and my new position requires that I will have to travel for one week every month for the ongoing future. I am still not making great money and just started rebuilding credit a few months back. As part of the rebuilding process I app'ed for and received a Cap One Platinum at $500 limit, only been through 2 statement cycles. That was fine then when my reimbursable expenses were just gas and some meals. Now I need to be able to cover a hotel and rental car for a week and all meals and supplies including baggage fees at the airport, etc. (Between $1100 and $1500 for the week). My fico is 598. What is my best chance to proceed here? Should I even bother contacting Cap One for a CLI or just go get another card? If so where should I app? I can document my past business expenses to them and show increase in salary etc. but afraid that due to credit I will be immediately shot down.

[ah12345]

Congrats on your promotion but with a score that low will be hard to qualify for a prime card my advice is to pull your reports and work on getting rid of any negative items and get your scores mid 600s to able to qualify for a decent card

[VirtualCuriosity]

Hopefully someone with more experience with Cap1 will chime in.  But, everything I have researched after I got mine (1k CL) seems to point towards them bering real stingy with their CLIs.  And the ones I normally see are at the 6 mos reporting mark.  I even read a lot about people logging in and seeing messages saying they are eligible, only to find out it was a tease.  Therefore, I won't even bother with them.  I also would focus on your reports to see what can be cleaned up with GWs and what other tools are available. 

[Swiftd03]

I've been doing that for a while now. When I originally app'ed for this card I was at a 560. The main issue I have is that I did a mortgage modification about 9 months ago. That showed up as a string of 90 day lates prior to the mod being completed. Besides that I have a bunch of old medical bills I am just waiting for them to drop off. Tried everything I can think of the get them to get knocked off early but it hasn't happened. I've never used a credit card before, no car loans, etc,  so my file was thin and probably still looks pretty nasty. When you dig deeper though its mostly all medical bills for the wife and kids. Anyone know of anything I can do with this besides wait it out?

[myjourney]

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@Swiftd03 wrote:

Good evening all,

Here is my problem. I just got promoted and my new position requires that I will have to travel for one week every month for the ongoing future. I am still not making great money and just started rebuilding credit a few months back. As part of the rebuilding process I app'ed for and received a Cap One Platinum at $500 limit, only been through 2 statement cycles. That was fine then when my reimbursable expenses were just gas and some meals. Now I need to be able to cover a hotel and rental car for a week and all meals and supplies including baggage fees at the airport, etc. (Between $1100 and $1500 for the week). My fico is 598. What is my best chance to proceed here? Should I even bother contacting Cap One for a CLI or just go get another card? If so where should I app? I can document my past business expenses to them and show increase in salary etc. but afraid that due to credit I will be immediately shot down.

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This is a tough one but I have some advice write the EO of CAP1 and see if they will help! It certainly can't hurt because it's a SP 

I would state that your finances have changed for the better and you will be traveling more and would like to make them your primary card....good luck

[ryanbush]

In my opinion you need an amex charge card, the question is how do we get you one.

if you have a score in the 500s you have some serious negatives on your CR, can you give us some more details?

[ah12345]

I would pfd on those medical bills or if they are paid gw like crazy also try to gw those late payments

[Chris123nTx]

That is tough. I think about your only option will be to find a secured and build up the cash in it to the 1500. Easier said than done i know. With your scores and reports i just dont see anyone getting you what you need. Any chance the company would advance you a few weeks expenses ... get that on a card and hopefully ease the pain. Just a thought. Oh my opinion, do not start talking to cap one or anyone about the business expenses. I think that could hurtnmore than help, but i been wrong before. Good luck

[mnavas]

Well your credit score is pretty low so you won't be able to qualify for nice cards and big CL and if you've only had your Cap 1 for two months so i don't think they'll be willing to grant you a CLI...and since you only have one card, you should really consider to get second card... It looks better in your credit report to have more than one tradeline... Anyway, i believe you might be only get approved for a secured card at this time...You can also look for someone willing to add you as a AU but only if their card has a nice limit a and a perfect payment history (its better to get crdit on your own but AUs also help to boost your score) If you do so, your score will go up in 6-12 moths and once you reach 650 and up you'll be able to get approve for the chase fredoom or Discover it

[Swiftd03]

I did a mortgage modification 9 months ago. That showed a string of 90 day lates until the mod was finalized. That is the only negative besides the medical bills sent off to collections. Those all show paid. I don't have any other active tradelines, everything else has long been closed and even those were small minor tradelines. What do you mean by GW? PFD is paid for deletion?