@Anonymous wrote:
@wilmer007 wrote:
@Anonymous wrote:I started rebuilding in 2015. It took about 1.5 years to get to where I'm getting good CLI's. I started with alot of cards at 300-500 CL,
1.5 years later i let all those cards grown now at 296k in CL's. I still have to this day the majority of cards I opened and they have grown nicely with time. I don't plan on closing any of them anytime soon. 99.9% have no AF so they are costing me nothing, They are adding to my payment history, and adding to my AAoA.
hmm does your income have anything to do with that 295k cuz that's pretty impresive and considering your FICO scores are about the same as mine i guess i'll listen to you and let them grow. i suppose i can close them when i see denial letters of "denied due to already having too much total credit limit in credit report".
I make 130k a year, not sure what yu make. I just read alot on here. I ask for my CLI's at the points I've read on. Some banks have been very cool.
Ive studied all the data points i could especially with certain ones like Synchrony Bank, I found as my CLI started growing with them they started growing with others, I'm assuming competition to use a card. Just them alone I have
Lowes 30k
Amazon 8k
marvel 8k
Amazon store 8k
Stash 8k
Toys R US MC 10k
Sams Club MC 15k
They were about my first bank to tackle. I didnt find their requirements as crazy as other banks. I have 3 AMEX now too, A discover.
I actually called discover and asked them for a CLI asked them if they can be more on pair with my other cards so I could move some spending over to them. They of coarse jumped right on it and raised my CL.
I started US bank with a 5000 CL a little over a year ago, thats sitting at 13k now, they just gave me a CLI, sent me a letter saying heres more credit do to how well you've handled your account.
my cap 1's are a little over a year also, those are sitting at 4k each card.
I just found as I got some cards up there other banks were more inclinded to increase my CL with them. They are also competing for your buisness also and as time passes and they see you're using credit wisely they will eventually want you to spend money with them.
I having updated my scores in my sig but they are still about the same. Until my BK falls off they will be stuck there. but 99% of what i have established after BK is all positive.
You will see with time banks will be wantig your buisness. I started in 2015 with a total, surge and a secured card from my CU
Now i have CITI, AMEX, Chase, Usbank, Discover, Penfed, SDFCU, Synchrony, Comendity. My total and surge card are close and my CU CC is now unsecured and they gave me a CLI too.
Best advise I can give is read, read, read, ask questions alot of people here have really helped me out. I got CLI's I never knew i could even get! I'd get approved for something and they would say naw call in and asked for a CLI after the approval and BAM CLI granted! As far as income my DW makes a fraction of what I make 40k a year and she had almost 200k in credit, even a 20k Delta AMEX and a 6K Amex BCE. we just make sure we pay it off or make very large payments if we carry a balance. She actually just got an APR reduction on her amex to 9.99.
Its just takes time. I had a CS of 483 when i started all this and no credit cards or loans. I kept things strickly cash since my BK in 2007. I didn't realize how bad that hurt my CS
i actually don't know what my income is because i'm an IC and my weekly income varies because of that. one week i can make $1300 and then another week i'll make $1,000 and then $700, then $500, etc... but when i do work alot of hours on any given week i'll make up to $1300-$1500 for that week. if i have to take a guess i would say i make somewhere around $40k-$50k and if i constantly make $1300+ a week then that would be $67,600 a year.
@wilmer007 wrote:
@Anonymous wrote:
@wilmer007 wrote:
@Anonymous wrote:I started rebuilding in 2015. It took about 1.5 years to get to where I'm getting good CLI's. I started with alot of cards at 300-500 CL,
1.5 years later i let all those cards grown now at 296k in CL's. I still have to this day the majority of cards I opened and they have grown nicely with time. I don't plan on closing any of them anytime soon. 99.9% have no AF so they are costing me nothing, They are adding to my payment history, and adding to my AAoA.
hmm does your income have anything to do with that 295k cuz that's pretty impresive and considering your FICO scores are about the same as mine i guess i'll listen to you and let them grow. i suppose i can close them when i see denial letters of "denied due to already having too much total credit limit in credit report".
I make 130k a year, not sure what yu make. I just read alot on here. I ask for my CLI's at the points I've read on. Some banks have been very cool.
Ive studied all the data points i could especially with certain ones like Synchrony Bank, I found as my CLI started growing with them they started growing with others, I'm assuming competition to use a card. Just them alone I have
Lowes 30k
Amazon 8k
marvel 8k
Amazon store 8k
Stash 8k
Toys R US MC 10k
Sams Club MC 15k
They were about my first bank to tackle. I didnt find their requirements as crazy as other banks. I have 3 AMEX now too, A discover.
I actually called discover and asked them for a CLI asked them if they can be more on pair with my other cards so I could move some spending over to them. They of coarse jumped right on it and raised my CL.
I started US bank with a 5000 CL a little over a year ago, thats sitting at 13k now, they just gave me a CLI, sent me a letter saying heres more credit do to how well you've handled your account.
my cap 1's are a little over a year also, those are sitting at 4k each card.
I just found as I got some cards up there other banks were more inclinded to increase my CL with them. They are also competing for your buisness also and as time passes and they see you're using credit wisely they will eventually want you to spend money with them.
I having updated my scores in my sig but they are still about the same. Until my BK falls off they will be stuck there. but 99% of what i have established after BK is all positive.
You will see with time banks will be wantig your buisness. I started in 2015 with a total, surge and a secured card from my CU
Now i have CITI, AMEX, Chase, Usbank, Discover, Penfed, SDFCU, Synchrony, Comendity. My total and surge card are close and my CU CC is now unsecured and they gave me a CLI too.
Best advise I can give is read, read, read, ask questions alot of people here have really helped me out. I got CLI's I never knew i could even get! I'd get approved for something and they would say naw call in and asked for a CLI after the approval and BAM CLI granted! As far as income my DW makes a fraction of what I make 40k a year and she had almost 200k in credit, even a 20k Delta AMEX and a 6K Amex BCE. we just make sure we pay it off or make very large payments if we carry a balance. She actually just got an APR reduction on her amex to 9.99.
Its just takes time. I had a CS of 483 when i started all this and no credit cards or loans. I kept things strickly cash since my BK in 2007. I didn't realize how bad that hurt my CS
i actually don't know what my income is because i'm an IC and my weekly income varies because of that. one week i can make $1300 and then another week i'll make $1,000 and then $700, then $500, etc... but when i do work alot of hours on any given week i'll make up to $1300-$1500 for that week. if i have to take a guess i would say i make somewhere around $40k-$50k and if i constantly make $1300+ a week then that would be $67,600 a year.
YTD/12 will give you your mothly income. I'm like tht too I have a base salary, then from 40-49 hrs that salary is broken into an houly i'm paid 1.5 x's then anything 50hrs plus is 2x, sundays 1.5 but them i'm paid 32x1x/ 8x2x's my wage, holidays 2.5x's call outs 20$ pls my time, but if I start at 8am and finish at 8am the next day when midnight comes it's no longer over time and goes back to salary until 8hrs hits then 1.5.
It's so complicated for me to explain it to someone so I just take my YTD/12 and say this is what i make a month lol but i use my base because i'm always garanteed that much if i work or not.
@austinguy907 wrote:
@wilmer007 wrote:i currently have 4 open TL:
BoA Americard Platinum = $500 CL, $0 AF (partially secured, no deposit given) = opened May 2016 (toy limit card i would like to close if they don't CLI and PC it for a rewards card)
Meineke Credit Card = $700 CL, $0 AF never use it = Opened May 2016 (toy limit card that i would like to close eventually because i never use it)
Chase Freedom Unlimited = $700 CL, $0 AF = Opened May 2016 (i use this as my everything card minus groceries or gas)
AMEX BCP = $4,200 CL, $95 AF (got the 3x CLI yesterday, this is my gas and grocery card on top of my highest CL card)= Opened October 2016, Definately will not be closing this
12 years ago is just that.... history. Now knowing what you know now you would have taken the $3K from BOA and have 12 years of hopefully positive payment history and several other lines in the 5 digit CL range. Ideally you only need 3 lines and unless you need brakes and a muffler the Meineke card isn't going to do much unless you actually use it 1-2 times a year for something to generate activity.
For your BOA account it's hard to manage due to the limit but, if you have something monthly that's $50 or less I would put it on there to show activity and payment history. Once it does convert over to a traditional lilne of credit is when you can PC to some rewards with them. Also othey HP TU for CLI's which is something to keep in mind down the road but, ,from what's been posted around here those HP's usually result in decent CLI's.
Chase is notorious for HP CLI's as well. Go big or Go home when it comes to requesting the CLI to maximize your HP.
AMEX will generally keep doing 3X increases up to about $34.5K w/o requesting POI. Since you've already done 1 request you're now on the every 6 months calendar even if you get another card you're going to be restricted to every 6 months.
Moving forward as your profile ages and gains some traction you'll see some offers in your mailbox showing up. Try to avoid vendor specific cards like Meineke and others to be able to use them in different places. Don't get a card unless it has V/MC/DS/AX on the front/back indicating it's not a captive card. Unless you can make an AF a wash it's best to avoid eyeing up some of the premium reward cards because you'll end up losing money on the deal just for the posterity of having the card when you pull it out to pay for lunch with co-workers. Put some time and effort into investigating things before actually applying for something new. The best source can be the T&C's for the card to figure out a few things like the AF, APR, Issuer and minimum approved limit. After looking at the T&C's come on here and search for the card you're thinking about and see what others are talking about. Then just for an A for effort check the creditboards for which score the issuer is using to see if you're going to get approved and potentially what sort of CL you would possibly get when approved.
i actually don't plan to do HPs as my plan is to let them automatically give me CLI without generating HPs so that i can use those HP to get other CCs (unless you guys tell me it's better to use HP on CLI rather than opening up more TLs). there are cards i'm looking to get such as Chase Freedom, BankAmericard Travel Rewards, CSR and then once i have these 3 i would like to get at least 1 Penfed CC (i like all 3 that Penfed offers), Discover It Cashback Card for those Soft Pull CLI, Citi Double Cash Card, Hilton HHonors CC from AMEX, Capital One Quicksilver Cash Rewards (this card is going to be the very last one to get from this list). as you can see i have a plan when it comes to opening up more TLs and taking a HP for just a CLI instead of opening up more TLs doesn't seem great to me.
@austinguy907 wrote:
@wilmer007 wrote:i actually don't plan to do HPs as my plan is to let them automatically give me CLI without generating HPs so that i can use those HP to get other CCs (unless you guys tell me it's better to use HP on CLI rather than opening up more TLs). there are cards i'm looking to get such as Chase Freedom, BankAmericard Travel Rewards, CSR and then once i have these 3 i would like to get at least 1 Penfed CC (i like all 3 that Penfed offers), Discover It Cashback Card for those Soft Pull CLI, Citi Double Cash Card, Hilton HHonors CC from AMEX, Capital One Quicksilver Cash Rewards (this card is going to be the very last one to get from this list). as you can see i have a plan when it comes to opening up more TLs and taking a HP for just a CLI instead of opening up more TLs doesn't seem great to me.
When it comes this game and maxmizing your harvest it's probably best to spend 2017 working on CLI's to get your limits and age up not to mention getting rid of the inquiries in the same process. It's good to have goals but if you rush into it you're going to end up with a ton of junk limits and that doesn't payoff when you go to use them if you're trying to get your scores up. Spend 2017 on CLI's and then pick 2 cards for 2018 and so on and you'll be in better shape and getting the limits you want instead of what they throw you as a bone to get you as a customer but not able to use it much due to the lower limit. Once you put in the time with AMEX and prime your file with a bigger limit the other guys will be courting you instead of you chasing them and getting slapped in the face.
As for your choices in products:
Chase - 5/24 rule comes into play and they're nothing special unless you travel alot
BOA - just another big bank CC
PF - it's alright if you can get past UW for a CC / Loan
Discover - has some real potential if you treat them right
Citi - notorious for crap opening limits even with 800's still hard to break in with 10K+
Cap1 - more of a recovery card than a hit list card in my opion
If it were me out of these choices #1 would be Disco and #2 Cap1 just for the SP CLI every 4-6 months. I like my AMEX and Disco though since they replaced the loss of a 10K store card and approved combined limits of 14.5K and have grown in a little over a year to a combined limit of 92K between the 2 of them.
i don't travel (not yet at least). i do plan on traveling starting next year which is why i would like to get the CSR and CF from them so that i can get the 50% bonus points from CF and CFU when i go to redeem all my accumalated UR on CSR. not to mention the CSR has a 100k signup which can go away anytime so i would like to jump on that before it dissappears. although the CSR $4k in spending in 90 days is hard but i suppose i can buy a $50 Gas card every day and easily get that $4k spending since i need to pump gas every 2-3 days anyway).
i also am trying to PC to the BankAmericard Travel Reward so that would be one less HP but last time i called they told me that PC was not possible and then called again and was told that after the card is no longer partially secured then i can try to PC.
the other cards on the list i really don't need (like penfed, etc...) since penfed would just be backing up my BCP on gas purchases since i get 6% and 3% on gas with the BCP. so i suppose for the next 2-3 years i can focus on just CSR, CF, Discover, and Cap1 and then HP Chase.
i'm preapproved for CSP, CF and CS. when i went to the bank to ask if i had any preapprovals they said no but the website says i'm preapproved for those.
how is Cap1 and Discover when it comes to inquries as i already have 5 on experian but only 1 on EQ and 2 on TU? do you think i should apply for them in the next 30 days once my AMEX is reporting $4,200 CL? or should i just ignore Discover and Cap1.