The Master Higher Limits Beget Higher Limits Thread

[SnowdIn]

My limits were

Cap One $750

Chase (Amazon Rewards) $600

Walmart Discover $4,500

PayPal $1,700

 

I applied for a Chase Premier Southwest card and they told me originally one of the reasons they couldn't approve me was because there was a $2,000 minimum and none of my other cards were comparable. They insisted the Walmart card was reporting as a charge card, even though it can be used anywhere Discover is accepted. They didn't care that I can use PayPal anywhere PP was accepted either. I finally convinced them to give me the Premier Southwest card if I closed my Amazon Rewards with them first.

 

Capital One gave me $2,000 through EO- which is what I requested. I think as soon as both of my $2,000 cards start reporting I'll apply for another card and report back with what limit I get- If I'm approved at all

[creditmmax]

YES !! Higher Limits Beget Higher Limits

 

About 15 months ago my average limits on most cards were between $2,000 to $3,000:

 

Got my 1st account over $10k in January 2013, since then almost every single account that I have either applied for or asked for a CLI have been minimum $7.5k to $19k CL on almost every card now.

 

Recent CLI's in the past 3 months (I'm not applying for new accounts, only CLIs for the next 18+ months to build my AAOA, currently at 3.6 years)

Got my Citi Thank you Preferred card 1/2013 Initial CL of $11.5k ---- CLI to $19k

Priceline Signature CLI $5k ---> $7.5k instantly online

Amazon $4k ---> $15k

Paypal $3,500 ---> $15k

Got an itch a couple days ago with Home Depot Orig. $500 - Requested a CLI to $10k online "Got 7-10 day message" logged in 24 hours later and was approved for the full amount requested!

 

I'm itching to request CLI on DCU and Alliant - may pull the trigger next month since I have 0 inqs on my EQ

 

SO the is thread is very TRUE indeed!!! All credit scores between 702-723 (FICO) and 756-803 (FAKOs)

 

[Matti]

YES !! Higher Limits Beget Higher Limits

 

About 15 months ago my average limits on most cards were between $2,000 to $3,000:

 

Got my 1st account over $10k in January 2013, since then almost every single account that I have either applied for or asked for a CLI have been minimum $7.5k to $19k CL on almost every card now.

 

Recent CLI's in the past 3 months (I'm not applying for new accounts, only CLIs for the next 18+ months to build my AAOA, currently at 3.6 years)

Got my Citi Thank you Preferred card 1/2013 Initial CL of $11.5k ---- CLI to $19k

Priceline Signature CLI $5k ---> $7.5k instantly online

Amazon $4k ---> $15k

Paypal $3,500 ---> $15k

Got an itch a couple days ago with Home Depot Orig. $500 - Requested a CLI to $10k online "Got 7-10 day message" logged in 24 hours later and was approved for the full amount requested!

 

I'm itching to request CLI on DCU and Alliant - may pull the trigger next month since I have 0 inqs on my EQ

 

SO the is thread is very TRUE indeed!!! All credit scores between 702-723 (FICO) and 756-803 (FAKOs)

 

 

Both are very easy to get CLI's with. DCU went from $3,000 to $10,000 with absolutely no usage. Alliant went from $5,000 to $15,000 with approx $200 a month in usage.

 

ETA: Expect a hard on EQ for both requests.

Edited October 22, 2013 by Matti

[BobWang]

When I got my $15k BofA card, they looked at my PenFed limit and used that as a reference point in where they set the limit.

[Matti]

 

When I got my $15k BofA card, they looked at my PenFed limit and used that as a reference point in where they set the limit.

 

BofA used my NFCU ($20k at the time) and my Barclay card ($12k at the time) and set it in the middle, at $15k. Was bumped to $20k as of a few months ago.

 

ETA: A lot of people really bash BofA, but they've been really good to me.

Edited October 22, 2013 by Matti

[tomforr]

My experience is as follows:

 

August 2012 - highest credit line was $1,800 (Merrick)

App'd with Chase - Limit of $2,500

App'd with Discover - for some odd reason they gave me $10k

Earlier this year I asked Chase to go to $10k, they approved

Then went to Amex for the BCP - $10,500

 

Since I just went from $10.5k to $24.9k on AMEX I'll probably go Chase next on a new card and see where that goes

[BobWang]

That's OUR kind of pyramiding.

[BobWang]

[tomforr]

That's OUR kind of pyramiding.

[creditmmax]

That's OUR kind of pyramiding.

 

Yes in deed! I thought that we all ended up in the Giza, Egypt

[BobWang]

I recently decided to pursue some major CC's after getting my scores up around 700. I still have a few (old, 2007-2008, 2 OC COs and 3 associated Collection accounts) baddies hanging out on the CRAs, but have kept my util at 1-2% and my overall debt is extremely low. Only have a Mortgage of 11 years, a pretty low brand new car loan and 3 retail cards all 100% positive.

 

Thought I might go for some NFCU and USAA attempts, and started a thread here : http://creditboards.com/forums/index.php?showtopic=525841&p=4996790

 

Long story short, I had tremendous success, but I'm worried it might backfire on me...

 

Was waiting on family for a referral to NFCU, and being states apart was worried it might take a while. In the meantime, I bit the bullet last night and app'd for the USAA Rewards AmEx. It was approved for $5k, and was sent a preapproval for the USAA MasterCard. It was also instantly approved for $6k.

 

Right off the bat I went from ZERO major CCs to two with a line of $11k.

 

 

As it so happens, my family member replied today with the needed info for Navy Fed. I was a little hesitant (what with opening 2 new accounts last night....) - but I figured since USAA pulled EQ (a single pull for both cards, BTW) and Navy pulls TU maybe I could at least get my foot in the door?

 

I signed up, logged in and app'd for the Cash Rewards Visa. Was instantly approved for the "Signature CashRewards Visa" with a line of $17.5k!!!!

 

 

 

After my initial jubilation died down, caution set in and now I'm mildly concerned....

 

 

Is this going to be a problem? 3 new (fairly major, at least for me...) lines in the span of 24 hours? As it stands, I've gone from $0 in major credit cards to $28,500 in about 12 hours. FWIW, I am DONE app'g for the foreseeable future - these should leave me pretty well set (assuming they stick...)

 

I'm solely concerned about AA or closure/CLD from either/both of these entities (USAA and NFCU). I have ZERO concern about overextending myself or overuse - these are solely for use as a credit building maneuver in anticipation of selling our current house next spring/summer and building a new one (all of the credit analysis sites tell me that the lack of revolving credit history is a holdback for me - we've been all cash except for some small toy/retail cards since things went rough back in 07/08). By that time they will all 3 be a year old and 100% positive. I intend to use and rotate them while PIF every month (or only letting a tiny balance roll over if necessary to stay in the good graces of the lender if needed). In that same timeframe my remaining baddies will age off and we should be pretty well set...

 

Am I freaking over nothing? All good? Should I expect either of these lenders to resoft me and say "Whoooooaaaa, that's a whole lotta credit since we authorized".

 

Current scores are TU 697/EQ 692/EX 672. Income (counting only myself - not the spouse) is $73,000/annually.

 

Anyone got any thoughts on all of this? Thanks in advance...

 

The key thing about Navy is that it's often the crowbar

 

that pries higher limits from other issuers too.

[shifter]

I need an 80k crowbar.

 

[BobWang]

No you don't,

 

you AmExes will get there eventually.

[BobWang]

 

Your dream came true. Congrats!

Thank you! I already have one vote via PM to recon for 20K...

Smart person!

Yeah...but he works in banking, so I can't trust him!

 

What does the crowd say...? They matched my highest limit, so I don't know if recon would help.

 

[Demonico]

I'm wishing I had waited for Discover to report my CLI. They were showing 3k when I app'ed for Navy, who matched it. By the time Discover finally reports the increase almost all my other cards will show 0% UT since BT'd everything to my discover that wasn't at 0% APR. You think I can get Navy to top them when that happens?

[mendelssohn]

When approved for Chase Freedom in Feb, they matched my highest reporting non-CU limit, which was $4500 at the time.

 

On my approval today for CSP, they exceeded my highest non-CU limit with a CL of $12K. This is between my NFCU limit ($19K) and my highest non-CU limits ($8.5K Discover and $10K Lowe's).

[BobWang]

[moneypyts]

Question:

 

Some creditors -- such as AmEx, BofA, Chase -- will happily move credit lines from one account to another.

 

In the past, I only moved some once on AmEx to boost a zero interest rate intro offer. I figured there was a downside to having a card sitting at a $500 limit, even if it meant another one would get its limit boosted high.

 

I applied for 3 cards this spring, and they came in just below my highest major credit card. Highest major is $12K, and Chase came in at 11K, Barclays and Citi at 10K.

 

Now, I'm thinking the opposite. I should move as much credit onto a single card for any lender that is willing to move it. Drain the lower cards down to $1K each and pile all the credit on one card.

What do you all think? Any downside to having cards parked at $1K or $2K, while another one is at something like $13.5K?

 

Based on my experience this spring and a couple other times in the past few years, new credit lines may approach the highest credit lines on major bank cards. Or, the average. But never (except Discover) match the low end.

[moneypyts]

BTW, hat tip to cv and kayvebear for this idea to combine limits to get jumbo limits (I don't see it discussed often, and didn't think to do it myself until reading their threads).

 

cv -- http://creditboards.com/forums/index.php?showtopic=523120

kayvebear -- post #270 at http://creditboards.com/forums/index.php?showtopic=466509&page=11

[mendelssohn]

Question:

 

Some creditors -- such as AmEx, BofA, Chase -- will happily move credit lines from one account to another.

 

In the past, I only moved some once on AmEx to boost a zero interest rate intro offer. I figured there was a downside to having a card sitting at a $500 limit, even if it meant another one would get its limit boosted high.

 

I applied for 3 cards this spring, and they came in just below my highest major credit card. Highest major is $12K, and Chase came in at 11K, Barclays and Citi at 10K.

 

Now, I'm thinking the opposite. I should move as much credit onto a single card for any lender that is willing to move it. Drain the lower cards down to $1K each and pile all the credit on one card.

 

What do you all think? Any downside to having cards parked at $1K or $2K, while another one is at something like $13.5K?

 

Based on my experience this spring and a couple other times in the past few years, new credit lines may approach the highest credit lines on major bank cards. Or, the average. But never (except Discover) match the low end.

Creditors generally look at your highest 2-3 cards when considering CLs, so combining limits is a good strategy.

[loops77]

If you are rebuilding a thin file (have old closed accounts with no baddies)..try to get a friend or family member to add you onto old, high limit cards. Three are best, but two will work.

 

Amex will tend to start you off with a great limit and you can get a CLI at 61 days. Let the card report before applying for any more cards. If you apply for a Chase card right after Amex reports, they will likely offer a competitive limit. Then, bigger limits will become easier to get.

 

This is a great option if you can't get into NFCU..and far better than getting a crappy 400 dollar secured card or store cards.

[demonstrative]

Long time lurker here. Would appreciate an opinion on strategy here from some of the smarter folks.

 

As a token of goodwill I believe I'm the first here to give this valuable data point. I CLIed a Wells Fargo Card 2 nights ago and yesterday underwriting was very clear that the most they'll do is match your highest bank card. I pointed out that I had a higher CC limit at SDFCU and he then reemphasized "bank card, that is a CU". I pushed back for a little bit and he was adamant that it was a hard system rule and that supervisor, etc. is a complete waste of my time. So it appears that at least in the case of WF they're starting to discriminate against generous CU limits. That means that this game may evolve to identifying banks that underwrite that way and then inserting a bank CLI that is friendly to a CU limit first before increasing one that isn't friendly to that. Example: Step 1: Increase CU limit Step 2 Increase limit at CU line friendly bank Step 3 Increase limit/match #2's limit at CU not friendly bank (Wells Fargo, etc.).

 

 

 

 

^^If some of you (BW, etc.) didn't know that, I hope this data point is useful. If it is, please (or if you just want to help another guy out) here is my question. What is the best CLI strategy in your opinion given these goals in order:

--For sure get a 61 day 3x CLI with the Amex BCP in late August

--Maximize AmEx CL's overall as fast as possible

--Careful and limited EX hits (too valuable to be taken lightly and avoided if similar result can be achieved..

--Maximize CL's overall as fast as possible

 

• Chase Freedom: $5,000 last CLI 12/28/2014 (they also seem be pulling EX and EQ both then and during a recent Business application, I think because EX also has my dad's name and SSN on it haven't gotten around to writing to fix it yet)
• Barclay Sallie Mae: $10,500 last CLI 3/5/2014 was an auto increase less than 2 months after open
• AmEx BCE: $10,500 last CLI 3/10/2014 was a 61 day increase. Asked for $15k and countered with that (Barclays wasn't reporting yet so I don't think that was factor)
• SDFCU Visa: $15,000 last CLI 6/20/2014 (don't seem to have a hard date to wait for)
• Fidelity AmEx: $7,000 last CLI 5/7/2014 (when I took out the card)
• FKFCU Visa: $2,500 last CLI 4/17/2014 (when I took out the card; UW claimed that since I'm not a Kentucky resident max they could do for 1 year and wait 1 year to CLI
• AmEx BCP: $5,000 last CLI 7/30/2014 (when I took out the card; intending to CLI after 61 days)
• WF Sig Visa: $10,500 last CLI 8/27/2014 (initially took out card on 7/30/2014)
• BofA Travel Rew: $5,000 last CLI 7/30/2014 (when I took out the card)
• Chase Ink Plus: $10,000 last CLI 7/30/2014 (when I took out line) non reporting

AAOA: 1 year 7 months

Old Card: 6 years (Freedom)

CS: ~770 FICO (not FAKO and within a couple pts at all 3)

Util: 6%

 

I'm wondering about doing the AmEx BCE first and then doing AmEx BCP 61 day. Or does that risk a 3x on the BCP (main priority)? Another thought is to hit up one of the others now like Barclay's, then do AmEx BCE and then AmEx BCP. Or maybe Barclays, then BCP, and then BCE? Or I can start up the long process with SDFCU again since they don't seem to care about 6 months. I could also look at freezing EX and go for Chase Freedom (but they're always stingy and I don't know the repercussions of freezing EX with Chase and with the AmEx Soft pulls.

 

 

I realize you could say patience, what does a little bit of difference matter, but I am trying to thread the needle ever so carefully to do this as flawlessly as possible (realizing I can't do it perfect because I don't have their UW tables, but I'm going to try). Thanks in advance.

[nysbadmk8]

Well I would freeze EX for sure... you can always recon for different reports.. and if they must get EX then yiu can decide. Get the 61 day cli, barclays might fight you on CLI's from here on out... they hate new accounts no matter how strong the profile. You might want to get a GE backed card, they are easy to push to 25k and even 35k. You could use that as a non CU prybar.

[PhoenixDown]

Demonstrative,

 

Interesting tid bit - wouldn't be surprised if some banks do factor bank cards higher than CU cards or store cards.

 

I think you have the right overall approach but three comments:

 

1 - I understand Amex will only give you a CLI on one card every six months. You can try for a CLI as its only a soft pull if they decline.

 

2 - Amex has an overall exposure that may limit your increases if your credit profile (income + reports, etc) dont support it.

 

3 - I would try to get the BCE upto 25k and then start hitting up other CLI's again.

[shifter]

One CLI per 6 months with Amex on any card. So you have to pick the one you want now.