toy limit affect

[MazdaSpeed]

Do you guys think having a credit card or 2 with a 500 dollar limit affects how lender look at you?

just curious what your thoughts are?

say if someone has 3 cards, 2 are 10k limit and 1 is 500

would it better to just have 2 cards at 10k? and close the 500 before applying for more cards?

[Rackham94]

Haha same question here

[DeadSpider]

I think TOY limits won't do you any damage to your file as long its a good standing account.

It's all about how long you had credit and payments on time.

[Rackham94]

What if I just buy a stick of gum on my 500 limit cards and let them report zero balance for 16 months will a cli be easy to obtain with SP

[tattooedhusker]

I often wondered the same thing. I think it would be a hinderance, if the only thing you had was toy limits. I just recently broke into the higher limits, so I can't say for sure, but I should get a better idea in about 6 months.

[SpiceIslander]

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@DeadSpider wrote:

I think TOY limits won't do you any damage to your file as long its a good standing account.

It's all about how long you had credit and payments on time.

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+!. In addition, I think if toy limits are ALL a person has, that can affect them negatively in getting larger lines. If you have a mixture, and everything is nice and clean, they know you can handle "big boy" limits.

[Rackham94]

when is optimal time to ask for cli?

[DeadSpider]

Do you trust a stranger with your $$ ??

That's what you have to show to credit cards companies and over time they'll extend more credits.

I let my accounts and DW accounts post and report every month and pay by due date, still get CLI.

Do you trust DR with 20+ years of experience or new out of school ?

Over time you'll get higher limits.

Don't be afraid to close toy accounts once your profile is good.

[DeadSpider]

MY DW went from Bestbuy $2200 and cap1 $750 to CITi initial approval $9000 !! And now it $12xxx.

Sooner or later somebody will take a chance on  you with higher CL don't f***** it up lol.

[DeadSpider]

You can ask for CLI anytime, but most credit cards will say wait 6 months.