Credit limits over 5,000

[Anonymous]

Does anyone know how much having at least two cards with limits over 5k will impact a credit score? Assuming loans, utilities, etc are all in good standing and paid on time. My credit score is currently in the 750 range after applying for a Chase Sapphire Preferred (5,400) and Amex BCE (6,500).

Other cards-
Discover (700)
Chase Freedom (2,300)

[Untitled]

It will improve your score because your utilization will (should) go down, but the limits themselves won't improve your score. It may give you higher limits in the future though.

[sarahlee7]

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@Untitled wrote:

It will improve your score because your utilization will (should) go down, but the limits themselves won't improve your score. It may give you higher limits in the future though.

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+1.  High limits usually get more high limits...creditors will often compete to be your highest limit card.   I have several cards that when app'd, I was given $100 more than my previous highest liimit card.

BoA gave me $100 more than my highest $10 k card and then when I started getting $15k limits,  AMEX gave me $100 more than my highest $15k card.

And to repeat, higher limit cards will only help youur score by potentially lowering your utilization percentage...no other effects for having a $5k+ card.

Your scores are actually going to drop because of the 2 new accts you juust got, thus lowering your AAoA.

[cardslayer]

$10k + CL cards are considered "Premium Bankcard" accounts, and not sure how but it would supposedly positively impact score. Don't think $5k does anything though.

There's some threads that you can search on about this phenomenon.

[jamie123]

The higher limit cards will only effect the utilization calculation. FICO treats a $500, $5000 and $50,000 card exactly the same in all other areas. FICO only uses percentages and never dollar amounts.

Like the other poster stated, your scores will probably drop a bit because of the new accounts.