Whats needed for a decent limit?

[Skye12329]

I was wondering what kind of factors are needed for a limit of at least 5k? Like Utilization under 20% for how long? AAOA? Income? Score? Inq?...etc. Im just curious, im not planning on applying till everything on my account looks good, of which i checked CK yesterday, super excited i went up by 12 points, i know its a little, but it makes me super happy, every bit helps. 

[Anonymous]

For me, the best way to archive the first 5k limit is to get one AMEX revolver card and get 3x CLI after 61 days.

[jamesdwi]

Good income (over 40k), no recent baddies, a national card (visa, mc, disc, amex) for a year or more should get you a decent prime card with a good CL, perhaps even a CSP with a $500 signing bonus.

[FinStar]

Is this due to not being elegible or qualifiying for $5K on the Quicksilver CC from your earlier post?

[CreditScholar]

If you're looking for a 5k limit or above, the following are the minimum IMO:

1. Fairly Mediocre income (35-40k will do)

2. ~1 year AAoA or so

3. No recent baddies and low # of recent INQs

4. 1-2 currently reporting TLs

There have been many instances of 19-20 year olds getting 5k limits, so it's really not that difficult.

[Skye12329]

I never applied for the quicksilver card. I have the Cash rewards card from CAP1 the green one where its the the 50% bonus. 

[Skye12329]

Alright thanks, so far i have all of the following, income, AAOA, Never had a baddie, and now i just have to get my utilization down....things happen in life

[chnceit]

If you have no baddies then work on your utilization down to under 10%. Ask for CLIs from your current CCs once you have a few CCs over 5K then most companies will follow. But most CCC are afraid to issue people a 5K CL I'd they don't have the experience.

[RushXTC]

I recently got my first account to a 5k limit, Which was a goal for me... I have always had higher overall UTI and on some accounts I had 90% UTI, But I still got it... I have about 140 on time payments (no missed payments or late) so I guess just reporting a balance + paying on time is good enough.

[takeshi74]

It's really the same factors as always for credit in general.  Your credit is impacted by history of payments, utilization, AAoA, number of accounts, derogs, etc.  Your income does play a part in determining the credit limit that a lender is willing to offer.

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@Skye12329 wrote:

Like Utilization under 20% for how long? 

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How long doesn't matter.  They look at utilization when they pull your credit.  Get it as low as possible.