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I currently have a handful of credit cards, most of them have low limits between 1500-3000. I have been trying to get a good card with a large CL but every bank when they provide an offer wont go any higher than my highest CL currently or they advise they can only start me at 3000 and then review the account within 6 months and grant a CL icrease at that time. They say they need a history to review.
I am frustrated to say the least. My scores are all in the 700s so I dont see why I dont qualify for a large CL credit card. My util is low, dti is low.
Oldest reporting account is 9 years, 10 months. AAoA is 3 years. No recent baddies, except my auto loan which is showing INCORRECTLY due to Lexus being a bunch of morons and that is nearly 10 months old.
ANy idea what I should be doing? FICO says to simulate my best action is as follows for raising my score. I dont know why it says that considering my util is 6%!?
Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months
@ngerasimatos wrote:
I currently have a handful of credit cards, most of them have low limits between 1500-3000. I have been trying to get a good card with a large CL but every bank when they provide an offer wont go any higher than my highest CL currently or they advise they can only start me at 3000 and then review the account within 6 months and grant a CL icrease at that time. They say they need a history to review.
I am frustrated to say the least. My scores are all in the 700s so I dont see why I dont qualify for a large CL credit card. My util is low, dti is high.
Oldest reporting account is 9 years, 10 months. AAoA is 3 years. No recent baddies, except my auto loan which is showing INCORRECTLY due to Lexus being a bunch of morons and that is nearly 10 months old.
ANy idea what I should be doing? FICO says to simulate my best action is as follows for raising my score. I dont know why it says that considering my util is 6%!?
Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months
Is this true or is it a typo?
Its true.
Why is your dti high?
DTI is low. Very low. Like 3%
Opps, that was a typo. Util is low, DTI is low.
I have had 4 CC accounts in the past with Chase. All PIF, never late, and closed them one by one over the years at different stages of my life. The last one I closed was a Circuit City card when they went under. Would I be better applying with Chase or a lcoal CU? I use Chase for my checking and savings currently. I may also be looking to open a Business Checking account with them as well.
CUs are wonderful, it might be in your interest to got that route. Just keep in mind its not uncommon for major banks to only offer new cards with CLs similar to what's on your report.
I guess I am just spoiled. Years ago (10-12+) all of my credit cards limits were very high, 10k-20k but that was before a nasty seperation between myself and significant other. We had made the decision to close all accounts as they were all opened under both of our names as primary holders.
Then I suffered through identity theft and since then have not been able to get back to where I used to be, credit wise.
FInancially I am more than fine, but it would be nice to book and pay for an entire vacation months in advance and not worry about affecting my UTIL.
Know what I mean?
I understand!
Do you have a debit card with a Visa or MC logo on it? You can always use that to book vacations.