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I'm planning for 2015. I have all the cards I need now and any new apps will be for the purpose of maximizing CLs.
Many of you know that I've just started getting back into the credit card world after over 10 years using debit cards. What got me interested in CCs again are rewards programs.
All the cards in my siggy are from this year alone. My scores are in the mid 700s and I'm looking for strategies to increase my CLs with the existing products I have.
Would love to start seeing 20K limits across the board but would like to keep total cards under 7.
Any tips would be appreciated.
Show usage, I just got a unexpected bump on my Freedom for another 6k, because I have been using it heavily the past couple of months I suppose. I do have great credit but in my experince with the 3 auto CLI I have gotten from Chase they like usage, them an Amex.
Improve your scores and use use use the cards to increase those limits.
For me having a bunch of $2000 limit cards would become a major headache. So I'm trying to avoid falling into this trap.
i have read that apping for new cards may be a quicker way to acheive higher limits than waiting for existing cards to grow via auto CLIs.
If this is true then I would like to app for new cards and reallocate CLs to the new cards for speed. But doing this would reduce AAoAs.
@Fico2Go wrote:Any tips would be appreciated.
There's no magic trick to all this. Limits are based on credit and income. Work on the usual factors (most just require time and responsible usage):
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
...and do what you can to improve your income.