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What high limit credit cards should I apply for? And what are my chances?

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LucyDough21
Valued Member

What high limit credit cards should I apply for? And what are my chances?

My credit score is 795 - 782 - 778 - FICO SCORES. I have 6 credit cards which are toy limits, altogether $3400 limit, I have a satisfied installment loan for $500 from my credit union reporting on Trans - Experian only. I have an open installment loan for $1,500 (5 months old), on time payments. $23,000 car loan, 14 months - Perfect history (Will be paying off by May). 


HOWEVER, I added for 4 AU user accounts to my report 

- Cap One - $21,000 - 7 years old

-  Discover - $19,000 - 19 years old

- Comenity - $8000 - 5 years

- Bank Of America - $43,000 - 10 years 

 

I checked my credit after a 65 day hiatus of checking my report... paid for the update and my scores are 795 - 782 - 778. 

 

I'm aiming for at least two $15,000 credit card limits... which cards should I apply for? and what are my chances?

 

Also the tradelines will be closed in about 60 days. My friend just helped me out for a short time. I know my score will take a hit once these accounts close, which is FINE! I will build it back up. I just want to get in the game with some big limits. 

 

CHANCES?

Message 1 of 50
49 REPLIES 49
K-in-Boston
Moderator

Re: What high limit credit cards should I apply for? And what are my chances?

Many lenders will discard your AU accounts entirely.  It's difficult to say who you would end up getting large approvals with right out of the gate.  Are you eligible for Navy Federal Credit Union membership?

Message 2 of 50
AllZero
Mega Contributor

Re: What high limit credit cards should I apply for? And what are my chances?

Does your credit union or bank offer any credit card products?

Message 3 of 50
LucyDough21
Valued Member

Re: What high limit credit cards should I apply for? And what are my chances?


@K-in-Boston wrote:

Many lenders will discard your AU accounts entirely.  It's difficult to say who you would end up getting large approvals with right out of the gate.  Are you eligible for Navy Federal Credit Union membership?


Well this is obviously not the case. I'll agree that car lenders and any type of funding over $50,000 would be hesitant on considering the AU accounts. But credit card companies doesn't do manual checks, other than CHASE who is giving really big limits. My brother started with absolutely no credit. His girlfriend added him on all 5 of her credit cards, took him from a thin file all the way to a 730. He applied for a CAP ONE card and was approved for a $7500 limit and he also was approved for a $2,500 Discover Card. This was in 2014... here it is 2020, he's in the mid 700's, has gotten a mortgage and so much more. AU users are really helpful, and they're def considered, the lenders doesn't look it at like "Hey someone added her/him to a credit card account just to boost their credit". .... They follow protocol and assume you share responsibility for that card and that you have your own card. Therefore, they will consider it, but other factors such as your own primary credit will come into play, in which I have my own primary credit in addition to the au user accounts 

Message 4 of 50
LucyDough21
Valued Member

Re: What high limit credit cards should I apply for? And what are my chances?


@AllZero wrote:

Does your credit union or bank offer any credit card products?


Yes I have a credit card $500 limit, that I just got 4 months ago from my credit union! 

Message 5 of 50
Meanmchine
Super Contributor

Re: What high limit credit cards should I apply for? And what are my chances?

Its looking doubtful.  As stated above, maybe NFCU can have another computer episode and approve you for your drem level.

Whats your AoOA ( credit card ) and your AAoA? 

 

"I just want to get in the game with some big limits."

 

Good luck

 

 

 

 


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 6 of 50
Remedios
Moderator

Re: What high limit credit cards should I apply for? And what are my chances?

You do have auto loan and paid off personal loan, but you also have a bunch of lates that are now only three years old, and your own cards have toy limits. 

 

Most lenders will strip AU accounts, because the before and after picture can be strikingly different. It's been a while since 2014. 

 

You could try Chase and Capital One applications like your brother did, and see if you can replicate those same results. 

 

Those members who are trying to help you today are basing their advice on what's going on in 2020. 

"To The Left" ~ Gandhi
Message 7 of 50
AverageJoesCredit
Legendary Contributor

Re: What high limit credit cards should I apply for? And what are my chances?

2020 isnt 2014. Its going to be rare for someone to start getting huge limits right off the bat with only low limits and maybe s thin file. Scores really arent everything imo and a lender will look deeper into a report  when giving out big limits. Score, history ,income, amongst other things are factored in. Yes Chase often gives big limits but usually  to estsblished profile with really good income. 

 

Im not saying you wont get someone to give a nice limit, it does happen, but it isnt generally the case. As stated , a CU like Navy can , maybe you could get lucky getting the Disco/Amex 10k+ bug but honestly you are rolling the dice. Most lenders dont want to be first to give 10k plus  thats why we tske time to build are own credit profiles. Best of luckSmiley Happy

Message 8 of 50
FinStar
Moderator

Re: What high limit credit cards should I apply for? And what are my chances?


@LucyDough21 wrote:

@K-in-Boston wrote:

Many lenders will discard your AU accounts entirely.  It's difficult to say who you would end up getting large approvals with right out of the gate.  Are you eligible for Navy Federal Credit Union membership?


Well this is obviously not the case. I'll agree that car lenders and any type of funding over $50,000 would be hesitant on considering the AU accounts. But credit card companies doesn't do manual checks, other than CHASE who is giving really big limits. My brother started with absolutely no credit. His girlfriend added him on all 5 of her credit cards, took him from a thin file all the way to a 730. He applied for a CAP ONE card and was approved for a $7500 limit and he also was approved for a $2,500 Discover Card. This was in 2014... here it is 2020, he's in the mid 700's, has gotten a mortgage and so much more. AU users are really helpful, and they're def considered, the lenders doesn't look it at like "Hey someone added her/him to a credit card account just to boost their credit". .... They follow protocol and assume you share responsibility for that card and that you have your own card. Therefore, they will consider it, but other factors such as your own primary credit will come into play, in which I have my own primary credit in addition to the au user accounts 


Actually, that's not entirely the case for a variety of lenders. 

 

Some have sophisticated AI built into their proprietary UW algorithms and will exclude or strip off AU tradelines for what's commonly known as "piggybacking" (i.e. produce artificially boosted scores/profiles) by a variety of lenders.  It really depends on the lender, though.

 

Plus, as mentioned upthread, lenders these days frequently adjust their UW policies.

Message 9 of 50
K-in-Boston
Moderator

Re: What high limit credit cards should I apply for? And what are my chances?


@LucyDough21 wrote:

@K-in-Boston wrote:

Many lenders will discard your AU accounts entirely.  It's difficult to say who you would end up getting large approvals with right out of the gate.  Are you eligible for Navy Federal Credit Union membership?


Well this is obviously not the case. I'll agree that car lenders and any type of funding over $50,000 would be hesitant on considering the AU accounts. But credit card companies doesn't do manual checks, other than CHASE who is giving really big limits... <snip> ... AU users are really helpful, and they're def considered, the lenders doesn't look it at like "Hey someone added her/him to a credit card account just to boost their credit". .... They follow protocol and assume you share responsibility for that card and that you have your own card. Therefore, they will consider it, but other factors such as your own primary credit will come into play, in which I have my own primary credit in addition to the au user accounts 


Almost everyone here started out with toy limits, today some of us have 7-digit total revolving credit lines.  There really are no shortcuts to large credit lines.  Due to abuse from people selling tradelines for profit, AU accounts are often discarded completely.  Your statement of "Hey someone added her/him to a credit card account just to boost their credit" can be exactly the case for this very reason.  On your credit reports, each account shows whether it is individual, joint, or authorized user resposibility.  That doesn't require manual review to exclude as any accounts with authorized user in that field can simply be discarded.

 

You do state in your first post that you have perfect payment history, but previous posts have mentioned lates, judgments, and collections.  If those are still on your credit reports, it will be quite difficult to obtain anything other than toy limits.

Message 10 of 50
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