Which Credit Cards Offer the Highest Line of Credit?

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aquarius7373
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Which Credit Cards Offer the Highest Line of Credit?

Postby aquarius7373 » Sun Feb 15, 2015 10:11 am

As you can see from my sig, Amex gave me an incredibly high CL right off the bat.
I applied for the Amex BCP, SM, and City DCB all on the same day. The DCB and SM gave me pretty average lines of credit.

Are there some cards that are more likely to give a higher CL?
[size=60]My Wallet - Primary Cards:
Amex Blue Cash Preferred (25k ~ 6% groceries)
Barclays Sallie Mae (6.3k ~ 5% gas and amazon)
Citi Double Cash Back (5k ~ 2% everything else)

My Wallet - Secondary Cards:
Chase Southwest Business (30k ~ AU)
BBT Visa (10k ~ because visa)
Home Depot Credit (10k)
Amazon Credit (6k)

Not Used:
Cap One Credit (2.15k)
Macy's Charge (1k)
Kohls Charge (1k)
JC Penny Charge (1k)
Macy's Credit (0.5k)

Future Cards:
Cap One Quicksilver Visa (1.5% everything to replace BBT visa)

TCL : $97,950
Credit History : 12 years - always PIF
FICO EQ : 797
FICO TU : 791

I'm a newbie - all advice is appreciated![/size]


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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Feb 15, 2015 3:12 pm

If you want plain, cash back, no-AF cards with high limits, then look at credit unions or maybe Chase. Amex analysts may feel they are taking enough risk with you already.

Just be sure that high limits are what you really want. I know I favor great rewards and a modest CL over modest rewards and a great CL. If I was going to make a large (non-grocery) purchase, I wouldn't want to do it with a BCP. Why just earn 1% cash instead of a higher cash rate or some travel points like MRs/URs/TYs?

Do you just want higher CLs to attract other high CLs on cards with better rewards?

Be aware that some (but certainly not all) lenders may not like it if you open another $50k in credit.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

aquarius7373
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Postby aquarius7373 » Sun Feb 15, 2015 3:14 pm

I'm not interested in increasing mine any more, just my wife's in the future. Thank you, I haven't looked into credit union cards at all.
[size=60]My Wallet - Primary Cards:

Amex Blue Cash Preferred (25k ~ 6% groceries)

Barclays Sallie Mae (6.3k ~ 5% gas and amazon)

Citi Double Cash Back (5k ~ 2% everything else)



My Wallet - Secondary Cards:

Chase Southwest Business (30k ~ AU)

BBT Visa (10k ~ because visa)

Home Depot Credit (10k)

Amazon Credit (6k)



Not Used:

Cap One Credit (2.15k)

Macy's Charge (1k)

Kohls Charge (1k)

JC Penny Charge (1k)

Macy's Credit (0.5k)



Future Cards:

Cap One Quicksilver Visa (1.5% everything to replace BBT visa)



TCL : $97,950

Credit History : 12 years - always PIF

FICO EQ : 797

FICO TU : 791



I'm a newbie - all advice is appreciated![/size]

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Feb 15, 2015 3:38 pm

aquarius7373 wrote:I'm not interested in increasing mine any more, just my wife's in the future. Thank you, I haven't looked into credit union cards at all.


You've mentioned your wife's credit in little bits here and there. She's been approved for cards before but still doesn't know which ones?

Definitely get her credit report and read it in full. I have no clue what's going on that gave her a 644 FICO. If you can give more details on what happened, maybe I can help.

If Discover would only give her a secured card, then credit unions may want a partial or full security interest, too. So unless you've got the cash handy, her limit may be pretty low.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Battery111
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Postby Battery111 » Sun Feb 15, 2015 4:01 pm

Gotta second credit unions. AMEX as you've discovered is pretty willing to extend high CL's but you have to get approved with them first. I think it may be because AMEX primarily has a charge card mentality. They figure if you're good enough to extend credit, you're good enough to extend a lot of credit.

For me Navy Federal was the first lender that was willing to extend large CLs to me. They started off on the smaller side but the CLs rose pretty quickly and with soft pulls. However they have fairly stringent criteria for membership so you may or may not actually be eligible.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

aquarius7373
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Postby aquarius7373 » Sun Feb 15, 2015 5:39 pm

I'm not sure why her credit is so low (633), but she's never had history. Yes, she apparently was approved for a card - we're still waiting for her credit report to arrive to find out when and what it was.

I was just wondering because I was interested why Amex gave me so much and others so little. Also, once her credit is higher I want her to get the Barclays Rewards, then eventually a card with a high limit (barring benefits) to keep utilization low.
[size=60]My Wallet - Primary Cards:

Amex Blue Cash Preferred (25k ~ 6% groceries)

Barclays Sallie Mae (6.3k ~ 5% gas and amazon)

Citi Double Cash Back (5k ~ 2% everything else)



My Wallet - Secondary Cards:

Chase Southwest Business (30k ~ AU)

BBT Visa (10k ~ because visa)

Home Depot Credit (10k)

Amazon Credit (6k)



Not Used:

Cap One Credit (2.15k)

Macy's Charge (1k)

Kohls Charge (1k)

JC Penny Charge (1k)

Macy's Credit (0.5k)



Future Cards:

Cap One Quicksilver Visa (1.5% everything to replace BBT visa)



TCL : $97,950

Credit History : 12 years - always PIF

FICO EQ : 797

FICO TU : 791



I'm a newbie - all advice is appreciated![/size]

thom02099
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Postby thom02099 » Mon Feb 16, 2015 10:14 am

aquarius7373 wrote:As you can see from my sig, Amex gave me an incredibly high CL right off the bat.
I applied for the Amex BCP, SM, and City DCB all on the same day. The DCB and SM gave me pretty average lines of credit.

Are there some cards that are more likely to give a higher CL?


To answer your Title question very literally...Diners Club. Either of the cards. Reports of insanely high credit limits are rampant at various forums/message boards. In my own case when I applied, I was approved...for $50K. I had absolutely no expectations for a limit that high, was figuring ~$20K. They are no longer accepting applications, that may change at some point in the future.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

Brad Bishop
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Postby Brad Bishop » Mon Feb 16, 2015 10:27 am

thom02099 wrote:To answer your Title question very literally...Diners Club. Either of the cards. Reports of insanely high credit limits are rampant at various forums/message boards. In my own case when I applied, I was approved...for $50K. I had absolutely no expectations for a limit that high, was figuring ~$20K. They are no longer accepting applications, that may change at some point in the future.


That is just so bizarre to me. It's like they have a crack team of marketing guys diligently working to kill the brand.

Want to apply for a Diners Club card, which is a dying brand? Our answer is, "NO!"

takeshi
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Postby takeshi » Mon Feb 16, 2015 10:28 am

Creditors do vary in what they're willing to extend for a given credit profile but if you want higher limits it's really your credit and income that matter more than the card itself. As stated above, some credit unions tend to give out higher limits.

aquarius7373 wrote:I'm not sure why her credit is so low (633), but she's never had history.

That's probably why. Payment History is the biggest factor.
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

If you haven't done so already, pull all her reports and carefully review them.

Battery111 wrote:Gotta second credit unions. AMEX as you've discovered is pretty willing to extend high CL's but you have to get approved with them first. I think it may be because AMEX primarily has a charge card mentality. They figure if you're good enough to extend credit, you're good enough to extend a lot of credit.

Not everyone gets high limits with AmEx and not everyone will find AmEx to extend the highest limits.

whit
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Postby whit » Mon Feb 16, 2015 8:11 pm

I think your question is more of, which lenders would be more favorable with their credit limits? Than which ones offer the highest because I will be honest, I hear a bit here and there about the "ceiling" that people run into when they get credit cards

However, there's different ways it can play out once approved..

Scenario #1, someone whose retired and is living off pension and retirement funds has a cc for 50k limit that was opened ages ago. She wants to apply for a new one so a new app was taken and approved for 25k. That person wants to close the 50k card and move over the remaining balance to the new card so the new card is 50k, not all of it so its 75k, but just so she's kinda like how it was before, except the new line obviously is new--not like Amex where they backdate it

The hassle she had to go through to get that done was astonishing. Finally got someone with a brain who was able to do so.

Scenario #2, person has a card that's relatively new (a couple years versus two decades for the person above) and wants to apply for another card--shut down the existing card and move over the remaining balance.

She was able to do so without much trouble but couldn't bring over the full 25k because there's only an available cl of 18-19k (since there was a balance) so she got upwards near 43-44k? In the credit limit for the new card.

I've also seen people get denied for a new cc because too much credit versus what they're able to have so they have to cut down a cl to be able to fund the new one or, close a card to get another



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