Card Limit < $2000

[Crookid]

Have been denied in the past before my rebuild and have seen this reasoning before:

Card Limit below $2000

How important is having my cards have a $2000+ limit? 

Should I deposit enough on my secured cards to create this limit?

[FinStar]

What lender was the denial from? When did you apply?

[Anonymous]

Are you getting this message from prime lenders? 

[Crookid]

I believe it was for an auto loan when my credit had seen better days.  Now, I'm wondering if I should just put up the cash on my secured cards to avoid this situation again.  Does FICO grade cards above 2k differently than under? 

[Anonymous]

I've never gotten that as a reason for denial. If those data points in your sig are correct then I would imagine that that is the real reason.

If it were me I'd just lay low and let the accounts that you do have age. Your inquires are kind of high and your AAoA is pretty new you just need time and patience. Let your reports improve naturally.

[Anonymous]

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@Crookid wrote:

I believe it was for an auto loan when my credit had seen better days.  Now, I'm wondering if I should just put up the cash on my secured cards to avoid this situation again.  Does FICO grade cards above 2k differently than under? 

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Are all of your cards secured? 

Imo, I would pre-qual for Cap1 and Discover and start to ween out some of your current cards. 

Fico doesn’t grade lower limit cards differently (someone please correct me if I’m wrong). Lower limit cards could cause some irritation with utilization, because it’s so easy to max them out, which would have a negative affect on FICO.

[SweetCreditObsession]

I've got experience being denied but I've never seen that reason. As others have stated, allow your accounts to mature, pay on time and in full if possible. You should see improvement in 6-12 months. Be patient and best wishes.

[AverageJoesCredit]

No, you dont need 2k plus to get approved for things. Continue to work on your credit. As your scores rises, you will get better cards and can eliminate some of uour current cards. Best of luck

[K-in-Boston]

If that was a denial reason, the lender was not using a FICO score for underwriting decisions.  Not having bank cards over x limit is not a FICO scoring reason code:  https://www.fico.com/en/resource-download-file/3425

While it would be very difficult to keep your utilization in check if the cards were regularly used, it would be quite possible for someone to have a handful of $500 credit cards and still have FICO credit scores in the 800s provided other factors in their credit profile supported it.

[SouthJamaica]

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@Crookid wrote:

Have been denied in the past before my rebuild and have seen this reasoning before:

Card Limit below $2000

How important is having my cards have a $2000+ limit? 

Should I deposit enough on my secured cards to create this limit?

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Having a $2000+ limit is of zero importance.