Question on Obtaining High Limit Cards

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Question on Obtaining High Limit Cards

Postby uictex » Fri Sep 18, 2015 2:50 pm

Hi, I am two and a half years out of bankruptcy (Chapter 13). I make 62,000 a year. I would like to obtain two $5000 dollar credit cards and a Wal-Mart and Amazon account.

If my mid score is 640 (619, 680) are the other two), Do I have enought to obtain these cards? My oldest car loan is two years old in good standing. I have a student loan in good standing. Well everything is in good standing. I have (3) $300 dollar limit credit cards and one $500 dollar limit card.

If I don't have what's needed , can u tell me what needs to be adjusted? What credit score and/or older accounts?

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Re: Question on Obtaining High Limit Cards

Postby CarefulBuilder14 » Sat Sep 19, 2015 12:12 pm

Are there any $5k cards in particular that you want? Or anything will do, so long as the cards run on a major network?

Capital One Venture is one of the easier cards to get a high CL on. I wouldn't want one, but it might work for you.

For how long have your other cards been open?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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Re: Question on Obtaining High Limit Cards

Postby ingramjuan » Sat Sep 19, 2015 8:10 pm

I would wait for a little longer to apply for any cards. Possible you could see if you can get a SP for a credit line increase.
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Re: Question on Obtaining High Limit Cards

Postby takeshi » Sat Sep 19, 2015 10:36 pm

It's really not so straightforward as X score means $Y credit limit.

You can try to use the Credit Pulls Database (Google it) as a guideline but, again, you can't just assume that if you have the same score as someone else that you'll get the same credit limit.

The BK is a major red flag and it's going to take quite a bit of time for your credit profile to get over it. That said, definitely keep working on maintaining positive payment history and you'll get there in time. Rebuilding is always a long and slow process. I can't recall off the top of my head how long it took me to get to a $5K limit but it was probably about 5 years post and with a creditor that tended to hand out higher limits. Other cards at the time were still around $900 to $1K.

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