cancel
Showing results for 
Search instead for 
Did you mean: 

Trying to get total credit limit of 250k

tag
Anonymous
Not applicable

Trying to get total credit limit of 250k

I was wondering if anyone has any experience with getting larger credit limits. I know credit certain cards cap their credit limit.


Is anyone aware of the credit issuers will look at the total limits a borrower has across all their cards?

 

Currently, I have Citi Double Cash at 55.5k, Amex Blue Cash at 48k, Alliant at 30k, Farmers Rewards at 25k, Penfed at 24k, Discover at 15.5k and a Chase at 10k so 184k total.

 

For the Citi/Amex/Discover/Farmers cards I try like clockwork every 6 months to request a CLI since it is a soft inquiry. But recently I haven't been having much success. 

 

And when discover does give me increases it is always a small amount like 1-2k. 

I'm thinking of with the Chase card requesting an increase, but it would be a hard pull. 

Message 1 of 9
8 REPLIES 8
chhull00
Frequent Contributor

Re: Trying to get total credit limit of 250k

Wow, those are some monster limits nice work, but i guess keep asking all they can do is say yes or no.



Message 2 of 9
Anonymous
Not applicable

Re: Trying to get total credit limit of 250k

I am curious... why do you want a higher total credit limit than what you have now?

 

BTW, the various FICO models start dropping the credit limit of a card from one's total credit limit once the card's CL becomes big enough.  So ironically when someone keeps angling for higher limits it can eventually cause one's total CL to decline.

 

In the case of the EX mortgage score, the breakpoint is 34.9k.  In that model your Citi DC and your Amex stopped counting toward your total credit limit a while ago.  Your total CL in that model is more like 80k.

 

For the FICO 8 model, the breakpoint is somewhere between 51 and 70k -- some exhaustive testing was done a year or two ago and I think the folks here proved that 51k was safe but that 70k was dropped.  (Hard for me to remember if it was exactly 70k -- something like that.)

 

And yes, when you request a CLI, the CC issuer pulls your report and it can see what your credit limits are on all your cards.  This is true whether the pull is soft or hard.

Message 3 of 9
Anonymous
Not applicable

Re: Trying to get total credit limit of 250k

A couple od things that I don't believe we're brought up yet that can have an impact on credit limit growth are your income and your monthly spend on the cards you are trying to increase. Once you get to very high individual credit limits like you have already, the chances of your monthly spend being a significant portion of those limits becomes very small and less you have an astronomical income. That being said lenders have little incentive to continue forking over additional credit on those lines that aren't being utilized much relatively anyway as is. There are some lenders though such as Amex and Discover that are known to continue to allow growth even when you are barely using their product, so if your goal is continued limit growth I would say those two are probably your best bets.
Message 4 of 9
CramEiko
Established Contributor

Re: Trying to get total credit limit of 250k

OP,  are you trying to get $250k over all? I have a family member who had a BofA card with a $200k limit until he build his new house (definately was not upside down on it) and BofA uncapped the card after that. Recently I've been told of Capital One cards being over half mill plus, plus. If you have the income and expences I'm sure you'll get what you need.





Updated Feb 2023:
Citi Double Cash: $26,300
Citi Costco: $33,800
PenFed Power Cash: $50,000
Chase Freedom Unlimited: $33,400
NFCU Cash Rewards: $29,000
BoA Unlimited Cash: $99,900
Wells Fargo Active Cash: $50,000
Citi AAdvantage Executive: $30,500
Wells Fargo Mortgage 30yr fixed 3.625%

Business Cards:
BoA Business Advantage Unlimited Cash: $8,000
Chase Ink Business Unlimited: $75,000
Chase Ink Business Unlimited: $75,000

RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS | AMEX Gold | BoA Custom Cash | Lowes | Barclays Aviator Red
Message 5 of 9
HeavenOhio
Senior Contributor

Re: Trying to get total credit limit of 250k


@Anonymous wrote:

Is anyone aware of the credit issuers will look at the total limits a borrower has across all their cards?

I think it's possible. Not quite a year and a half ago, I requested an AMEX CLI from 15k to 22k. AMEX countered with 21.2k, which put my total credit limits at an even 60k.

 

At the time, I had bumped my total limits from 10.5k in six months.  I think it's reasonable to theorize (not decisively conclude) that given the circumstances, the round number of my total limits, and the oddball counteroffer, AMEX felt that 60k was enough for me at that time.

Message 6 of 9
SouthJamaica
Mega Contributor

Re: Trying to get total credit limit of 250k


@Anonymous wrote:

I was wondering if anyone has any experience with getting larger credit limits. I know credit certain cards cap their credit limit.


Is anyone aware of the credit issuers will look at the total limits a borrower has across all their cards?

 

Currently, I have Citi Double Cash at 55.5k, Amex Blue Cash at 48k, Alliant at 30k, Farmers Rewards at 25k, Penfed at 24k, Discover at 15.5k and a Chase at 10k so 184k total.

 

For the Citi/Amex/Discover/Farmers cards I try like clockwork every 6 months to request a CLI since it is a soft inquiry. But recently I haven't been having much success. 

 

And when discover does give me increases it is always a small amount like 1-2k. 

I'm thinking of with the Chase card requesting an increase, but it would be a hard pull. 


PenFed has a maximum of 50k in credit card limits, so if you were to take out a 2nd card with them you might get as much as 26k in credit limit if they like you a lot.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 7 of 9
Anonymous
Not applicable

Re: Trying to get total credit limit of 250k


@Anonymous

Currently, I have Citi Double Cash at 55.5k, Amex Blue Cash at 48k, Alliant at 30k, Farmers Rewards at 25k, Penfed at 24k, Discover at 15.5k and a Chase at 10k so 184k total.

 


In terms of ACL, you're in a very solid place and in the top couple percentile for sure.  I'm a huge fan of quality over quantity.  It would be very easy for you to hit your total credit limits goal if you were to simply open a few more accounts, but in doing so you take down your ACL and move a bit away from quality over quantity.  I feel like almost anyone can have $200k-$250k in credit limits if they have a few dozen cards, but for someone with 7-8 cards to possess the same limits to me shows a more calculated approach and growth.

Message 8 of 9
Anonymous
Not applicable

Re: Trying to get total credit limit of 250k

I agree with the quality over quantity comment. I have ACL of $29,750 on seven cc's w/highest single card at $35k (excludes amex gold NPSL charge card with a $50k authorized spend, and a $12k home depot store card).

The past few years I've focused on CLI on existing cards over adding new cards. I have 3 cards still under $30k (27k disco, 25k Barclays, 22k BofA) , once I get all of them over 30k will think about adding more cards.

GOALS: 10 cards @ 50k each ($500k total credit).
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.