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sarahmania

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what limit should i ask for when applying for a new credit card
my credit score is in the excellent range. i have had 1 credit card for 17 years and bought a bed on credit 2 years ago (opening a second line of credit). unfortunately i have had a lot of headaches attempting to make payments on my original card and don't want to deal with that bank any longer, so i just stopped using it and pay for everything with cash. i applied for a new credit card 1 year ago, but they would only offer me a $500 limit, and i didn't take it. i want to apply for a new one,so i can start using it to keep my credit score strong, but i don't know what limit to request. I don't want to sell myself short, but i don't want to ask for too much and be denied

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You cant request what starting limit you want, maybe at some local credit union but highly doubt it. Most of the decisions are done by computer program.

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You have to start/restart some where, low limit dosent mean it wont grow quickly. You need to do some research, given the same credit profile, what credit cards offer high starting limit, like CapOne's Venture and what cards might grow quickly, some banks like Citibank/Barclay? You might able to recon the starting limit once you received the card, but at cost of another hard inquiry, with AmEx? You can request (online) credit limit increase up to 3 times of starting limit upon activation and it's a soft inquiry, of courses the limit increase isnt guaranteed!  When you don't have much credit activities in the past? Creditors would be more cautious with their starting limit, they don't have much Infos to go by to determine the risk.

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