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mendelssohn

I finally hit $100K in available credit today!!!

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Thanks, guys!

 

I wasn't saying 100K club, but I definitely view it as a milestone. 15 months ago, my highest limit was only $500.

Crazy, isn't it? Mine was a $1k secured cc @ 15 months ago.
I was actually happy with my $1,450 cap one 15 months ago.
June of 2013, NFCU approved me for $10K for both a CC and the CLOC, and Barclays gave me $1500 on my Rewards MC. Since those approvals, everything has been much higher. My limits are still relatively low, but compared to $500, it's a huge difference. I almost fainted when my CSP was approved for $12K.
I created a thread the other day trying to figure out the algorithms on how a CL is spit out from the computer.

 

Besides avg TL, not quite sure how it gets it's number.

 

A lot of people had had success getting high initial TL's when being added on to others as a AU with a high Credit TL.

I don't have AU accounts because my options are either old accounts with a high balance or new accounts with no balance. There's nothing to be gained there.

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Thanks, guys!

 

I wasn't saying 100K club, but I definitely view it as a milestone. 15 months ago, my highest limit was only $500.

Crazy, isn't it? Mine was a $1k secured cc @ 15 months ago.
I was actually happy with my $1,450 cap one 15 months ago.
June of 2013, NFCU approved me for $10K for both a CC and the CLOC, and Barclays gave me $1500 on my Rewards MC. Since those approvals, everything has been much higher. My limits are still relatively low, but compared to $500, it's a huge difference. I almost fainted when my CSP was approved for $12K.
I created a thread the other day trying to figure out the algorithms on how a CL is spit out from the computer.

 

Besides avg TL, not quite sure how it gets it's number.

 

A lot of people had had success getting high initial TL's when being added on to others as a AU with a high Credit TL.

I don't have AU accounts because my options are either old accounts with a high balance or new accounts with no balance. There's nothing to be gained there.

There isn't a point anymore, but initially when you started to rebuild.

 

Of course, having a high balance with a AU wouldn't of benefited you.

 

It would only be for the age and CL

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Nice work Mendel!!! :good:

Thank you!I'm going to see how much I can grow these limits until my reports are clean. No new accounts for a while now, I promise. ;)Although I did pick up a few good cards recently.

 

Do you mind telling us what cards you have and their limits? Congratulations by the way

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$xx,xxx Amex Premier Rewards Gold (2/92)

$19,000 NFCU Flagship Rewards Visa (6/13)

$17,000 Lowe's (2/14)

$15,000 NFCU CLOC (6/13)

$12,000 Chase Sapphire Preferred Visa (7/14)

$8,500 Discover it (2/14)

$6,000 Barclays Arrival+ MC (6/14)

$5,000 Barclays US Airways MC (7/14)

$5,000 DCU Platinum Visa (7/12)

$4,800 Citi Platinum Select AAdvantage MC (7/14)

$4,500 Chase Freedom Visa (2/14)

$2,000 Cap One Quicksilver Visa (3/12)

$1,450 Walmart (6/13)

$1,000 Amex Blue Cash Preferred (5/92)

$1,000 Barclays Rewards MC (6/13)

 

Total Limits: $102,250

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$xx,xxx Amex Premier Rewards Gold (2/92)

$19,000 NFCU Flagship Rewards Visa (6/13)

$17,000 Lowe's (2/14)

$15,000 NFCU CLOC (6/13)

$12,000 Chase Sapphire Preferred Visa (7/14)

$8,500 Discover it (2/14)

$6,000 Barclays Arrival+ MC (6/14)

$5,000 Barclays US Airways MC (7/14)

$5,000 DCU Platinum Visa (7/12)

$4,800 Citi Platinum Select AAdvantage MC (7/14)

$4,500 Chase Freedom Visa (2/14)

$2,000 Cap One Quicksilver Visa (3/12)

$1,450 Walmart (6/13)

$1,000 Amex Blue Cash Preferred (5/92)

$1,000 Barclays Rewards MC (6/13)

 

Total Limits: $102,250

sweet collection!

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$xx,xxx Amex Premier Rewards Gold (2/92)

$19,000 NFCU Flagship Rewards Visa (6/13)

$17,000 Lowe's (2/14)

$15,000 NFCU CLOC (6/13)

$12,000 Chase Sapphire Preferred Visa (7/14)

$8,500 Discover it (2/14)

$6,000 Barclays Arrival+ MC (6/14)

$5,000 Barclays US Airways MC (7/14)

$5,000 DCU Platinum Visa (7/12)

$4,800 Citi Platinum Select AAdvantage MC (7/14)

$4,500 Chase Freedom Visa (2/14)

$2,000 Cap One Quicksilver Visa (3/12)

$1,450 Walmart (6/13)

$1,000 Amex Blue Cash Preferred (5/92)

$1,000 Barclays Rewards MC (6/13)

 

Total Limits: $102,250

sweet collection!

Thanks! It looks better without my sub sub prime card listed there. :D

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are you to 200k yet?

Yeah, I just picked up a $100K Fidelity Amex today. :lol:

 

 

that is some cool stuff man. share your secret. thanks :wave:

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are you to 200k yet?

Yeah, I just picked up a $100K Fidelity Amex today. :lol:

that is some cool stuff man. share your secret. thanks :wave:

I FILLED OUT MY APPLICATION IN ALL CAPS!

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are you to 200k yet?

Yeah, I just picked up a $100K Fidelity Amex today. :lol:

that is some cool stuff man. share your secret. thanks :wave:

I FILLED OUT MY APPLICATION IN ALL CAPS!

 

 

try pig latin next time...works wonders

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First off conrads to EVERYONE but other then bragging rights IMO, 6 figure credit limits are risky and quite frankly scarry.. Is it just the feeling of being able to spend it or is there another reason for having all this available revolving credit?

Edited by classicsal

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First off conrads to EVERYONE but other then bragging rights IMO, 6 figure credit limits are risky and quite franly scarry.. Is it just the feeling of being able to spend it or is their another reason for having all this available revolving credit?

Not only are you wrong, but if you feel that way, you're on the wrong message board.

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First off conrads to EVERYONE but other then bragging rights IMO, 6 figure credit limits are risky and quite frankly scarry.. Is it just the feeling of being able to spend it or is there another reason for having all this available revolving credit?

 

 

Pure madness.

 

Ban.

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Congrats. I also hit 100k if this NASA jazz is legit. Should we shoot for 200k? :dance:

 

Keep going until you're bored with the whole thing. :P

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I probably have a lifetime ban from AMEX, Chase and PenFed. I have gone from $300 to $41,500 in 20 months out of BK, and I thank you for your guidance in getting this far

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I probably have a lifetime ban from AMEX, Chase and PenFed. I have gone from $300 to $41,500 in 20 months out of BK, and I thank you for your guidance in getting this far

Doubt its for life but lucky for you, there are more than 3 banks!

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With AmEx, if you pay tem back anyway, they will let you back in. They have very detailed papers you have to sign to do this, and they will not bill you, make any deals about it, or set up any kind of payment plan. They would be breaking the law. Otherwise, if it's still in their records, you won't get another AmEx card, and they will be blunt about it. They won't even pull, they just say nope.

 

I don't know about PenFed. However, what you always have to keep in mind with CU's is that their investors are their depositors. They do not creat their credit out of thin air like banks do. They actually loan out money they have on deposit. A CU that has a lot of depositors has more to lend.

 

Banks do not have to have the money on hand in our banking system. They only have to have a token amount, not even really a percentage. So they take huge risks without the funds to back it up if they have a lot of defaults that cannot be recouped in some manner. Some are more aggressive than others, like Chase and Citi. They are the ones that know they will be bailed out because they are too big to fail.

 

Learn the difference and keep it in mind. It will help you make the right choices for your rebuilding. We will hit a wall with any CU eventually, but the bigger they are the bigger they lend - not the harder they fall, because they are not going to fall.

 

So, my guess is that PenFed may do what AmEx does - the only way to find out is to ask. Pen Fed is conservative in some respects, liberal in others. For instance, after 911 PenFed's computers were down - they left their ATM's up and gave out cash to their members without knowing what was in their accounts. They trusted their members. To put it briefly, they will never make that mistake again, and the people who took advantage, paid for it.

 

That's the other thing about CU's. They will not let you walk away from your debt except by bankruptcy. They will be aggressive in collection efforts and will be the first to sue. Their obligation is to their other members. If you default on a car loan, they WILL take the car, quickly. No one plans to borrow and then default, I'm sure. A CU will be the first to try to help, but don't try to treat them like they are a big bank. Totally different animal. You are the owners. You get the goodies. Not some invisible behind the scenes banking "cabal" of "greedy" commercial investors.

 

This is general info, not directed at anyone or in answer to any particular question.

 

Might be a good master topic, I dunno: the difference between credit unions and banks. Unless you've studied it or worked in the industry, you probably don't know how important the differences are.

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