Advice needed on how to increase my CL

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12 posts
cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Advice needed on how to increase my CL

Postby cdogg » Tue Jul 17, 2012 12:46 pm

I have been with AMEX since 94. My Credit score is 780, and currently i have Amex blue cash with $30k limit, BOA Power Rewards with 10k and discover card with $8k limit as well as three other store cards (Macy, gap, bb). I have been very cautious on how many cards i have and pay off each card every month. at this point, I really want to see my score can pass 800, to do that, what is the best way for my situation? i know if i ask Amex now, most likely they will ask to pull my tax form (which is fine with), do you think they can increase my limit from $30k to $50k? or any other suggestions.

oh, I don't have mortgage (paid it off last year) and no car loan (always pay it off first year).
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94
Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10
Discover IT $9.5k member since 10
Chase freedom $10k, since 13
BB Store card $2600, since 02
Macys $2700, since 02
Gap/BR $800, since 02


MemberSince99
Centurion Member
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Jul 17, 2012 1:13 pm

They probably can but I would figure it's a good bet they want will to see financials from you in order to do that. If you really want 50k be prepared for FR.

cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Postby cdogg » Tue Jul 17, 2012 1:25 pm

Thanks, do you think i should just applied new card or ask for increase of CL from AMEX. How can i authorize them to look at my financial? are they going to give me form to fill out?
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94

Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10

Discover IT $9.5k member since 10

Chase freedom $10k, since 13

BB Store card $2600, since 02

Macys $2700, since 02

Gap/BR $800, since 02

craigm1
Centurion Member
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Posts: 285
Joined: Wed Dec 01, 2010 8:44 pm
Location: toms river nj

Postby craigm1 » Tue Jul 17, 2012 2:00 pm

I was at 25k with a blue cash card and told them to raise me 10k and they wanted an irs form to release my tax records. I had them take me to 30k not really worth the aggravation I'm sure you would consider 50k but will want to be able to pull several years tax returrns

craig
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
Discover Cashback Bonus $10.5k member since 11
US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

Padre
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Joined: Mon Jul 16, 2012 10:26 am
Location: Atlanta

Postby Padre » Tue Jul 17, 2012 2:18 pm

Some argue that you don't want a credit score of greater than 800. Again, this is just rumor but some say that lenders see a credit score of 800 and know that you're too good and they will make little to no money lending to you.

cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Postby cdogg » Tue Jul 17, 2012 2:30 pm

craigm1 wrote:I was at 25k with a blue cash card and told them to raise me 10k and they wanted an irs form to release my tax records. I had them take me to 30k not really worth the aggravation I'm sure you would consider 50k but will want to be able to pull several years tax returrns

craig


Thanks, do you think i should just go ahead apply different card
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94

Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10

Discover IT $9.5k member since 10

Chase freedom $10k, since 13

BB Store card $2600, since 02

Macys $2700, since 02

Gap/BR $800, since 02

thomaswhitehall
Platinum Member
Platinum Member
 
Posts: 76
Joined: Thu May 24, 2012 5:36 pm
Location: NY

Postby thomaswhitehall » Tue Jul 17, 2012 4:36 pm

Although I'm not an expert...I believe there is a lot more to having an 800 credit score than just large lines of credit. Might not be worth the drama is that is what your goal is.

maceto
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Joined: Sun Jul 15, 2012 11:15 pm
Location: Irving TX

Postby maceto » Tue Jul 17, 2012 6:32 pm

thomaswhitehall wrote:Although I'm not an expert...I believe there is a lot more to having an 800 credit score than just large lines of credit. Might not be worth the drama is that is what your goal is.


Credit utilization is one, keep at 7% where most 830 users sit..
You need secure credit like auto/house and show payment of such over more than a year

There is more.. Like number of hard pulls, numbers of cards- I say max 5..
Credit history- get on someone else's card to backdate it to from you where 18.. If possible

cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Postby cdogg » Tue Jul 17, 2012 9:10 pm

maceto wrote:Credit utilization is one, keep at 7% where most 830 users sit..
You need secure credit like auto/house and show payment of such over more than a year

There is more.. Like number of hard pulls, numbers of cards- I say max 5..
Credit history- get on someone else's card to backdate it to from you where 18.. If possible


Thank you Guys!!. Here are little bit more detail about my credit history.

1. My oldest card started 1994. (AMEX)
2. Have no bad history, always pay off balance at end of months
3. Had mortgage for 6 years, paid it off last year. Had three car loans before, all paid off within first two years.
4. i have not had any HP for the past two years.
5. Total current cl of all cards are $51000.
6. my normally only use about 5% my line each month. average spending per year about $30k

So basically i am trying to perfect my credit score and maybe considering get another card with at least another $30k line if it is possible.
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94

Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10

Discover IT $9.5k member since 10

Chase freedom $10k, since 13

BB Store card $2600, since 02

Macys $2700, since 02

Gap/BR $800, since 02

cdogg
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jul 16, 2012 3:44 pm
Location: allen, texas

Postby cdogg » Tue Jul 17, 2012 10:28 pm

it is funny that i just tried my amex site to increase my limit. my limit was $30k, i was asking for $50k. instead they give me option, asked me if i accept $33,600 for now. i sure did. better than nothing, should be ready within 15 mins. so is it considered as SP or HP
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94

Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10

Discover IT $9.5k member since 10

Chase freedom $10k, since 13

BB Store card $2600, since 02

Macys $2700, since 02

Gap/BR $800, since 02



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