So what's the secret (if there is one) to getting one of those really big CL's?

[Anonymous]

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@Aim_High wrote:

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@Anonymous wrote:

I'm currently using a significant portion of my "large CL." 

I'm using $36,400 or 43% of the $85,000 BofA Cash Rewards credit limit.

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Thanks for that DP. 

Do you mind if I ask if that is for personal, reinbursed work expenses, or home business expenses?

I only have personal expenses to put through on my cards so I will never run those kind of numbers!

However, I have often wondered how much people qualify for super-large credit lines primarily due to running business expenses through personal cards that are either reimbursed or home-based. 

And then, there are the people who are just that well-paid or that wealthy that they can spend like that!  But I'm sure that is the minority.

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These are personal expenses; I have a "side hustle" but those expenses are usually charged to my Amex Blue Business Plus card that a opened specifically for that purpose.  The principal reason I posted that screen cap is to illustrate that so often dogmatic assertions are made without considering that most other people have unique circumstances and especially in these forums we know very little or nothing of commenters' personal lives.  In my case the charges are college-related expenses for my youngest child and will be fully paid by the next due date.  I just ran them through this account because I'm working on a long-term strategy with BofA and these charges, among others, should demonstrate my ability to handle large limits to them.

[Anonymous]

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@sarge12 wrote:

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@Anonymous wrote:

I'm currently using a significant portion of my "large CL."  I'm using $36,400 or 43% of the $85,000 BofA Cash Rewards credit limit.

Wow, so since your last statement balance was 4400 dollars, you charged 32000 dollars in this credit cycle? That is a lot of charges in one billing cycle. Is this a business used card? Do you normally run that much through a billing cycle, or is this due to balance transfers?

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This account isn't used for business...these are college-related expenses for my youngest child who attends a fairly pricey school.  And even though she's on full academic scholarship there are still significant costs for living expenses such as the down payment on a new car that she needs since she begins clinical rotations this semester and needs to drive to those locations.  

I only wish these were business expenses; the rewards would be significant.  I'm a former U.N. diplomat but I now work for a large corporation and I'm reasonably well compensated. My wife is a doctor but we don't commingle our finances for obvious reasons plus the fact that we live in a community property state.  If I were to run her practice related expenses through my cards I could get some very good rewards.  But between the two of us we can afford the kind of expenses you see here.  So when question like whether people actually use their large limits are asked, at least in my case the answer is yes and it isn't just for vanity or ego.

[Aim_High]

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@Anonymous wrote:

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@Aim_High wrote:

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@Anonymous wrote:

I'm currently using a significant portion of my "large CL." 

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Do you mind if I ask if that is for personal, reinbursed work expenses, or home business expenses?

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These are personal expenses; I have a "side hustle" but those expenses are usually charged to my Amex Blue Business Plus card that a opened specifically for that purpose.  The principal reason I posted that screen cap is to illustrate that so often dogmatic assertions are made without considering that most other people have unique circumstances and especially in these forums we know very little or nothing of commenters' personal lives.  In my case the charges are college-related expenses for my youngest child and will be fully paid by the next due date.  I just ran them through this account because I'm working on a long-term strategy with BofA and these charges, among others, should demonstrate my ability to handle large limits to them.

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Thanks for that extra information!  You make a great point that I have also noted on MyFico Forums.  I believe there are some people who don't try to understand that other's finances, lifestyle, circumstances, and choices may differ very widely from their own to the point it is difficult for them to even comprehend. Sometimes I see advice that makes those assumptions without further questioning of the OP, and that makes me cringe because I know regardless of the best intentions, that the advice is possibly misguided.

We can only make general suggestions to each other here because there are always so many factors we can't see or understand from someone's limited disclosures in a posting to fully grasp all the key consideratiions.  There are times I question sharing the amount of somewhat personal information on these forums, even though it is basically anonymous.  However, I think it is helpful to us all to do so because it helps break down those preconceived notions that our lives are not that different.  They are very different, and consequently, the decisions we are making about our finances and credit lives need to take all those things into account. 

You had posted before about the large charges on your BofA bill and the large credit line.  I had just assumed they were likely reimbursed business expenses, so I learned something today.  It sounds like your daughter is doing well and on her way to success!  Congrats!

[sarge12]

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@Anonymous wrote:

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@sarge12 wrote:

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@Anonymous wrote:

I'm currently using a significant portion of my "large CL."  I'm using $36,400 or 43% of the $85,000 BofA Cash Rewards credit limit.

Wow, so since your last statement balance was 4400 dollars, you charged 32000 dollars in this credit cycle? That is a lot of charges in one billing cycle. Is this a business used card? Do you normally run that much through a billing cycle, or is this due to balance transfers?

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This account isn't used for business...these are college-related expenses for my youngest child who attends a fairly pricey school.  And even though she's on full academic scholarship there are still significant costs for living expenses such as the down payment on a new car that she needs since she begins clinical rotations this semester and needs to drive to those locations.  

I only wish these were business expenses; the rewards would be significant.  I'm a former U.N. diplomat but I now work for a large corporation and I'm reasonably well compensated. My wife is a doctor but we don't commingle our finances for obvious reasons plus the fact that we live in a community property state.  If I were to run her practice related expenses through my cards I could get some very good rewards.  But between the two of us we can afford the kind of expenses you see here.  So when question like whether people actually use their large limits are asked, at least in my case the answer is yes and it isn't just for vanity or ego.

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We are definitely not even in the same universe on using credit cards, I will not run 32,000 dollars on all my cards together in a year, and I am quite certain your family income is likely at least 10 times the highest income I ever earned. I receive SSDI and have 401k and retirement that was a lump sum, so if I withdrew enough to match that income, I would last about 10 months before I would be broke. Here in South Carolina the cost of living is probably a lot less though. I actually only owe less than 18,000 on my house, which is my only debt, and I could pay it off and need be. At 61 years old, even while making the house payment, I could easily live off of the SSDI alone. Any withdrawals from my 401k and retirement has 20% witholding and I normally withdraw about 1500, which nets me about 1200, and when I look back that is about what I spend helping my Sister and her 4 grown Children. Between them all, last year I bought a dryer for both my Sister and Nephew, a heatpump for my Neice, an 850 dollar MRI for another Neice, and also spent 4500 on auto repairs for both my Neices. Things tend to pretty much windup being fairly close to the amont I withdraw. I draw about 800 in interest on the 400k, 401k, so my net is700 buck about, Many hear thin I wast 

[Anonymous]

I know this string is a few months old, but thought I would put in my $0.02.

Dont app for new cards. Focus on getting the one you have up by requesting CLI. Citi and Disco offer frequent SP CLI, s ok start with them. Ask Disco ever 2 billing cycles for some LUV.

I noticed that once I got a couple cards with $25k CL it was alot easier to get higher SL and CLI.

My two highest cards are with chase ($50k and $47k), that happened without ever requesting a CLI. Over 15 years they gave me modest CLI on two cards, and after I opened a CSR with a $30k SL (in 4/2019), then I reallocated amd closed a 3rd Chase card to get the two higher card limits.

The other two highest cards I have Citi and Amex, are both from patiently playing the LUV game over many years. Once I received the higher Chase limits, citi and amex have been very proactive in keeping up with Chase.

My best suggestion is patience, persistence and have a strategy! Good Luck!!

[Aim_High]

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@Anonymous wrote:
Focus on getting the (cards) you have up by requesting CLI.
I noticed that once I got a couple cards with $25k CL it was alot easier to get higher SL and CLI ... Once I received the higher Chase limits, citi and amex have been very proactive in keeping up with Chase.
 ... patience, persistence and have a strategy!

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Consistent with my experience.  Especially the bolded part which I also mentioned in message #5 of this thread, leveraging your limits between banks is a great way to slowly push up overall limits.  Many banks may not want to be your highest limit but they don't want to be your lowest either.  Banks will see your other limits rising and be inclined to match their competitors.  And it takes time (i.e. patience & persistence.)

Message #5:

https://ficoforums.myfico.com/t5/Credit-Cards/So-what-s-the-secret-if-there-is-one-to-getting-one-of-those/m-p/5702321#M1659396