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CKEddie

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Increase my 6-month-old credit card's limit, or get a Chase Amazon.com card?
I have a Wells Fargo Visa Platinum credit card, with a credit limit is $2500. I had a credit utilization was 54%. Today I paid off my entire balance on my card, and a few minutes later I signed up for Credit Karma. My CK TransRisk score is 728 but I believe it would have been higher if I had had a zero balance on my credit card when I signed up for CK.

I've had my Wells Fargo card for more than 6 months now; I applied for it in May 2012. I applied for a Virgin America Visa card in July 2012 and was denied, understandably since my credit history was so short. I pay off my entire balance before it is due, and so my balance always fluctuates between whatever my balance is, and zero.

There are only three other cards I would like to own:

* the Virgin America Visa card (or the Visa Signature card, despite its $49 annual fee) since Virgin is my go-to airline;
* the Chase Freedom Visa card, because it's consistently rated the best rewards card around; or
* the Chase Amazon.com Visa Rewards card, since I'm always buying stuff on Amazon and will definitely make use of it.

Now that Black Friday/Cyber Monday is upon us, I have really been thinking of getting the Amazon card...but I want to minimize the hit to my CK score.

So my question is, which would be better:
* going to Wells Fargo and asking for an increase in credit limit (which would instantly improve my credit utilization), or

* applying for a Chase Amazon.com Visa Rewards card (so I can take immediate advantage of Cyber Monday deals on Amazon!), or

* both?

Thanks in advance for your advice, everyone!

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Call Wells Fargo and ask them if you can get a credit limit increase without an inquiry, as not all creditors require an inquiry for CLI. For me Wells Fargo went from 2500 to 6000 without me even asking.

Regarding the new chase cards you can apply for both and get only one inquiry, Google "3 browser method". Basically you open 2 different browsers like Explorer and Mozilla and fill out both applications, you then submit them one right after the other and you will get only one inquiry. I tried this once and it worked.

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Sounds like a plan! You wouldn't happen to have a script I could follow when it comes to asking for a CL increase from Wells Fargo, would you?

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Update 1: A few months after I posted this, I called up Wells Fargo and requested them to double my CL from $2500 to $5000. They did!

Update 2: In mid-October 2014, I opened up my email and saw a notification from Wells Fargo that they'd increased my CL again, from $5000 to $7000. I didn't even request for it and yet they did. Needless to say, I'm a pretty happy camper right now ;)

I may still apply for a Hilton HHonors credit card to diversify my credit sources and bring my credit utilization ratio down even more. I'm leaning towards the Hilton HHonors™ Card from American Express, both because it's a no-annual-fee card and because I already have a Visa card and would like an AmEx:

http://hhonors3.hilton.com/en/earn-use-points/credit-cards/index.html

Will update you on that as time goes on.

Thanks, all!

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