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Question By
Jasminepaige

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how do i get higher credit limits?
Just applied recently for a Cap1 Venture and was not high enough

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extended

Fico Credit scores are 713,709 and 697

Excellent Credit Utilization

No Collections or Derogatory marks

Great payment history

Age or credit history poor (oldest CC 9yrs 10mos, newest 1 mos)

Total Accounts good (12 CCs, 1 auto loan, 1 personal loan and no mortgage)

Poor hard inquiries (13 due to auto loan shopping)



American express everyday  10,000 CL and 2,000 balance

US bank platinum  8,000 CL and 1,500 balance

Cap1 venture 7,500 CL and zero balance

Bank of America cash rewards 5,000 CL and zero balance

Cabelas classic 5,000 CL and zero balance

Discover cashback 3,000 CL and zero balance

Cap1 quicksilver 2,250 CL and zero balance

Barclay rewards 2,000 CL and zero balance

Chase slate 500 CL and zero balance

Cap1 secure credit card 300 CL and zero balance ( the one that started it all )

US bank business card 18,000 CL and zero balance

Do any of you own any of the cards that i have as well, and do any of you have a higher limit?  i would like to ask for a credit increase on my cards, but i know that some cards arent meant to be a high credit limit card, and i would like to avoid the hard inquiry hit from reviewing my credit.  i would prefer to apply for a higher credit limit card if i have to.

From what i understand is that Credit Card issuers tend to give you Limits close or similar to ones you currently own, so my objective is to aquire higher limit cards so that i can start getting higher limit credit card offers.

I rotate all my cards (minus the secure card) and pay in full before the statement is even generated (except for the amex and us bank cards since its zero interest for 15 mos)

i would appreciate any help or recommendations.

THANKS IN ADVANCE!

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Reply by
icuhowie

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So you want More then a 7500 CL that they gave you?  Why ?

Reply by
Jasminepaige

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i use it for business expenses.  sometimes i have to order things that is in the range of 5000-12000.  i hate having to split the expenses onto 4-5 different credit cards to avoid high utilization.  i DO have the buisness cc with 18000, but that only takes care of one trasaction,  but what about the other 2 or 3 transaction that could follow up shortly?  i hate it when i have to max out cards or split it up onto different credit cards.  becuase god forbid if im unable to pay it off quickly enough becuase theres a delay on the payouts to the business, my credit score will take a major hit.  im floating anywhere around 40-65 total credit utililzation during the month, and always scrambling to pay off these balances as quickly as possible.  im currently working on building my business credit with my DUNS number, but its a slow process.  in the mean while i need higher limits to run my business.

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Reply by
icuhowie

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Then get one of the American Express Credit Cards,   I don't think they have any limit,  ( well back in the past they did not have limits )   have not had one in over 15 years,  things could have changed.

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Reply by
mindjazz

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You might try speaking with a business associate at the bank you have most of your accounts with. They may be willing to work with you and give you a large(r)  credit limit. Every lender likes a customer to have additional accounts.

As Howie stated, American Express offers a variety of cards with seemingly no credit limit. Amex also offers an area on their website to test a large purchase on your card, and can tell you if an increased credit limit might be available or not.  On the Bank of America and Amex websites, there's an area where you can list your net worth.  That plays a lot into their decision to increase credit limits.

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Reply by
mindjazz

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You might try applying for another actual business card, rather than the personal consumer cards.  

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