@KingFICO, you will see an oft repeated adage here which states, "Credit is a marathon, not a sprint", my first question to you is, "How long are you willing to wait for the $300,000 total limit?" Based upon the fact you appear to have a total current revolving limit of $24,500, my guess is it will take several years, at the very least, before you get there, and even then that would be by requesting CLIs and applying for new cards on a very regular basis (both activities can often work against new credit).
From my perspective, you would have better chances securing a $200,000 personal loan much sooner than $300,000 in revolving limits; have you considered that option?
First, I would have to ask why $300k and is there a pressing need? As@Horseshoez said, the current limits you have indicate it will take some time and not something you should rush to achieve.
These will have to fall off before that ever happens. Got a way to go to get there. Thats is if they dont go the legal route. Pay the past so you have a future.
Credit Cards Charged Off
BoA, $18,951.00
Cap1, $13,000
Bank One, $31,000
Discover, 11,000
MBNA, $42,000
Wachovia 3,000
Advanta, $23,000
AMEX, $2,300
Total: $118,951
If your credit file is clean then it should not take that long!
Now you have burnt some banks that they don't forget easy but over ten years... probably have a chance again.
The normal CCs that offer high limits usually have AF, but you get benefits from it...
See if AMEX would let you back in again, if so you can get couple of their CCs to go over 30K+ each with SP.
Chase is good with high limits, get 2 or 3 of their higher end cards (CSP, Amazon, CSR e.g.) and that should put you around 100K+
Cap1 Venture and VentureX should give you high limits.
Sync bank has few CCs that can grow quick but try not push too much with them.
All the above CCs are going to give you SP CLIs, that is important as they would not affect your score as you grow them.
Now if you are planning to have 300K that you can cash advance! That could be a problem as they would flag you for that request internally. CC companies HATE cash advances, not to mention requesting high limits of your credit for it. But you can get around that by getting BT offers and deposit them in to your bank account.
Also some CU can give you decent CL and use SP.
I’m not suggesting to go on app spree, that would set you back! Pace yourself and don’t go after CCs that would not grow or it would take very long time to do so.
I have over 300K CL and it didn't take that long once my file was clean.
Good luck.
IMO, If you want to be able to pull $200k cash advances for your business, you need to look into business lines of credit, and/or lines of credit secured by real estate, like a HELOC, or equivalent for commercial property if you own any, not consumer credit cards.
I believe there are buisiness credit cards that can function as a line of credit, but that is outside the scope of normal consumer credit cards.
